Web3 Gaming: The Key to Mainstream Adoption Lies in Player-Centric Projects

Web3 gaming is on the rise, but according to Herbert Sim, the COO of hybrid cryptocurrency exchange Websea, there is still room for improvement in order to bolster mainstream adoption. In an exclusive interview with Cointelegraph, Sim emphasized the need for more player-centric projects with smooth onboarding processes.

Sim highlighted the importance of putting players at the forefront of GameFi projects, stating, “At Websea Labs, we’re looking at projects enhancing user experience and gameplay, with eSports being the biggest thing in the market, even within crypto.” He acknowledged that while previous Web3 games have gained popularity based on economic incentives, there is a growing demand for games that offer both a sustainable economic model and a user-centric approach.

To support the growth of GameFi and DeFi sectors, Sim noted increased institutional interest. He stated, “We’re focused on GameFi and DeFi because all the institutions are looking at this… Capital is flowing in along with a lot of technological innovation that are crucial for driving market growth and maturity in these sectors.”

Websea Labs, Websea’s ecosystem investment institution, recently launched a $100 million fund aimed at incubating GameFi and DeFi projects. Sim believes that the involvement of institutional participants will help raise awareness and credibility for both sectors, attracting more users and developers to the games.

In the realm of Web3 gaming, a new wave of AAA-grade games is emerging in 2024, offering a combination of gameplay-focused user experience and high-quality graphics. One highly anticipated game is the Solana-based space exploration RPG, Star Atlas, built on the Unreal Engine 5. With over 335,000 followers eagerly awaiting its release, Star Atlas is set to launch in separate modules over the next five years.

Another success story in the Web3 gaming space is the RPG game Big Time, which generated over $100 million in revenue within the first six months of its pre-season without selling any tokens. This success demonstrates the potential of Web3 gaming and its inevitable future, according to industry experts.

Overall, the growing interest in Web3 games and the support from institutional investors are driving the mainstream adoption of GameFi and DeFi sectors. With a focus on player-centric projects and sustainable economic models, the future of Web3 gaming looks promising for both developers and players alike.