- A majority of gamers oppose blockchain integration in games.
- Experts believe Web3.0 market will become a $87 Billion sector by 2030.
Gaming companies are showing more interest than ever in the Web3 space lately. A report shows top gaming publishers are taking initiatives to expand their reach beyond Web2. Non-fungible tokens (NFTs), play-to-earn (P2E) games, blockchain and more render the sector attractive for them. Although gamers have opposed integration of these concepts in the past, gaming organizations have not given up on these concepts yet.
Gaming Companies Finds Web3 Attractive
According to DappRadar, a data aggregator, companies including Konami, Sega, Atari and more are among the active entities in Web3. Ubisoft, the Prince of Persia publisher, revealed Assassin’s Creed NFTs recently. Holders can customize and order a 3D replica of the token.
The company also unveiled its player-vs-player (PvP) game developed on Oasys blockchain. Ubisoft became the first company to integrate NFTs in traditional gaming with Digits, NFTs based on Tom Clancy’s Ghost Recon Breakpoint. However, the initiative was met with a backlash. Still, they intend to continue with NFTs in future.
Japanese video game company Square Enix is planning to deploy their new Web3 game dubbed Sybiogenesis on Ethereum blockchain. They intend to be a pioneer in Web3 gaming and revealed blockchain game development was among priorities for 2023. In April 2023, the organization collaborated with Web3-focused company Elixir. The company aims to expand their Web3 presence through the partnership.
Square Enix generated $2.8 Billion in revenues and made around $394 Million in profits last year. The company also revealed that blockchain is among their ‘focus fields’ in forthcoming years. Blockchain is among integral elements in Web3 space and poised to become an over $400 Billion market by 2030.
Another Japanese gaming company Sega is leveraging Oasys blockchain to shift Sangokushi Taisen, their game franchise, from Web2 to Web3. The organization has also announced a team up with double jump.tokyo, a game developer, to develop a PC based trading card battle game using blockchain technology.
Sega had previously joined hands with Line Next, an NFT business, to develop a Web3 game. The company has faced backlash from fans for using blockchain technology in the past. Longtime followers called attention to the fact that the company who created the environment-focused game, Sonic the Hedgehog, is doing the very opposite by using blockchain.
Pro Evolution Soccer (PES) developer Konami released Castlevania NFTs to celebrate the franchise’s 35th anniversary. In October 2022, the company revealed they are planning an NFT platform. The gaming organization’s revenue has increased 5% year-on-year in 2022, however, profits plunged by 36% in the same period. Konami believes their sales might increase by 4% next year.
The DappRadar report mentions Atari, the U.S.-based gaming company, as the final company in the list. The gaming corporation has acquired a land parcel in the Web 3.0 game, The Sandbox. The organization terminated the blockchain joint venture with ICICB group. The partnership was supposed to develop a cryptocurrency according to the agreement.
The Web3.0 market is anticipated to become a $87 Billion sector by 2030. Adidas, Warner Music Group, Samsung and are some of the major companies that have already entered the space.