Web3 Games Are Huge in Asia, So Why Haven’t They Taken Off in the US?
Companies developing Web3 games will have to focus more on entertainment and less on monetization to reach global audiences.
By Rachyl Jones
Video games that incorporate blockchain technology—called Web3 games—have gained popularity in Asia, but Western gamers are proving skeptical. Some experts think it’s only a matter of time before the new model of gaming takes root in the U.S., but it’s clear game developers will have to make some adjustments before the games will appeal to a U.S. audience.
While Web3 has been called the future of the internet, crypto and NFTs have been besieged lately. Over a period of nine months last year, the monthly trading volume of NFTs decreased by 97 percent. In May, cryptocurrencies Terra and Luna collapsed and took half-a-trillion dollars of crypto market cap with them. While Western countries debate the value of Web3, blockchain gaming has already taken off in Asia, which has 1.47 billion gamers, or nearly half of the world’s video game players.
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