Gaming is no stranger to phone and internet users, as everybody spends time on their screen enjoying a virtual adventure once in a while. There are different concepts of gaming aimed at entertaining users.
With the rise of blockchain and cryptocurrency, technological advancement has redefined gaming, allowing users not just to play games but to own in-game items that can be exchanged for monetary compensation. Web3 games offer entertainment and blockchain-related rewards, which we will discuss in detail in this article.
Web3 games are decentralized digital games that make use of distributed ledger technology. Also called blockchain games, Web3 games have the same functionalities as traditional games. The only distinguishing factor between them is that Web3 games are based on the peer-to-peer architecture of blockchains and include cryptocurrencies and non-fungible tokens (NFTs).
Blockchain games allow players to amass collectibles while playing them; these in-game items can then be transferred to decentralized marketplaces and traded. Players can obtain priced NFTs and other digital assets by playing these games and seamlessly sell them without third-party intervention using smart contracts.
There are no games without building blocks; hence, Web3 games comprise essential components that create the adventurous, loving user interface we earn from while enjoying. Let’s will look at them next.
Key Web3 Gaming Components
Web3 games are primarily play-to-earn games; hence, key distinguishing features make them different from traditional games. We will look at the key compositions of Web3 gaming applications and how they work.
One of the essential components of Web3 games is their use of blockchain. The decentralized blockchain application allows for easy user control, proper security, and tougher security.
Smart contracts are also key components of Web3 games, as they are used to execute contracts when their conditions are met. Smart contracts make features like in-game asset management and ownership transfers possible in Web3 games.
Since players can earn digital assets from Web3 games, a digital wallet is an essential part of the game. A digital crypto wallet allows Web3 gamers to store their assets and interact with other blockchain-based service providers.
Web3 games have other important gaming features like in-game asset transferability and its community-based approach. These characteristics make the game unique and popular among users. However, there are still risks involved in Web3 games; we will look at them next.
Risks in Web3 Games
Despite the loving pictures painted about Web3 games, there are a few risks players might run into. They are as follows.
- Risk of hacks and cyber attacks
- Web3 games might be difficult to decipher for non-crypto-enlightened players.
- There are regulatory risks, as players will be affected if regulators double down on Web3 games.
- Some Web3 games have poor user interfaces and are not very engaging.
Having listed some of its disadvantages, we will look at the most popular Web3 games.
Popular Web3 Games
- Axie Infinity
- Decentraland
- Sandbox
- League of Kingdoms
- Thetan Arean
- Skyweaver
- Star Atlas
Blockchain gaming is cool and is a top pick for gamers who want to make money in the metaverse while enjoying the experience. Though still in their early stages, Web3 games are poised to make it big as their acceptance grows with cryptocurrency adoption.
Web3 games are worth a try, but make sure to consider the risks listed in the article. The knowledge passed down from this article is all you need to try out your first Web3 games.