The Future Of Web3 Games Will Bring Fun & Longlasting Value
Blockchain games have gotten a bad reputation over the years, with many legions of “traditional” video games fans uniting to voice their hatred at the concept.
This opposition to Web3 games stems from the first generation of titles that took the internet by storm during the COVID era. With millions of gamers isolated at home all over the world, there was a surge of interest in the idea of “play-to-earn” games, which sounded like an enticing concept – getting paid to play games. If gamers can find a way to entertain themselves while stuck at home AND earn money at the same time, what’s not to love?
However, the reality was anything but, for the first generation of Web3 games were just not that entertaining. With the focus on earnings coming at the sacrifice of fun gameplay, it wasn’t long until players got bored of the repetitive battles in titles like Axie Infinity and Splinterlands. But worse was to come, as the declining interest in these games exposed an even bigger flaw – it soon became apparent that the in-game economies were broken, dependent on a constant flow of new players, and money, to sustain the value of their native tokens and NFT-based assets.
These days, the likes of Axie Infinity and Splinterlands are but a shadow of themselves. NFTs that once commanded prices of thousands of dollars today change hands for a few cents, while their native cryptocurrencies are worth a fraction of what they once were.
Getting the balance right
The earliest Web3 games were clearly not up to scratch, but if there’s one thing that they did do right it’s that they successfully established what can be a viable and intriguing concept. With the emergence of a new generation of play-to-earn games, it’s becoming clear that Web3 games do still have a lot to offer, it’s just a question of the developers taking the time to ensure their games are done right.
The first and most important thing is to ensure that any blockchain game has a solid tokenomics model that will ensure lasting value for committed players. Getting the tokenomics means striking a careful balance to ensure there will always be a consistent demand for in-game assets, and it’s something that developers are coming close to getting just right.
One of the better tokenomics models to arise can be found in Funtico’s ecosystem. Funtico is more than just a game – it’s a platform that provides access to a growing library of play-to-earn games spanning multiple genres, providing something for everyone to ensure users won’t ever get bored.
Funtico’s gaming platform is fully incentivized with TICO, which is a universal cryptocurrency that’s used within every one of its games. Because of this, the value of TICO is not tied to the success or failure of a single game, but rather, the strength of its entire ecosystem.
Each of Funtico’s games is meant to be competitive, and the big highlight is the regular, monthly tournaments that give players of each game the chance to shine and earn substantial rewards. Each tournament will offer a significant rewards pool funded by entrance fees and a portion of each transaction in the Funtico marketplace. Because every single in-game asset is tokenized, there should be plenty of trading going on to support the ecosystem, and with tempting prizes on offer, that should create a virtuous cycle, encouraging more players to compete and spend TICO to increase their chances of winning those rewards.
Funtico has also gone to great lengths to ensure a seamless flow of liquidity into its games, with bridges to blockchains such as Ethereum, BNB, Base, Polygon and Avalanche. Moreover, it’s putting a lot of effort into making its games fun to play, not just rewarding.
Gameplay is key
Other next-generation blockchain games are going all-in on gameplay as the main attraction to ensure their longevity. One of the most promising play-to-earn titles to launch in 2024 is My Pet Hooligan, a fast and furious, action-packed first-person shooter game that’s set to rival some of the very best in its genre.
Players take control of NFT Hoolis to join the rebellion against the evil Metazuckbot overlord that has enslaved the rabbit population of Hooliland City. The rebellion is basically just an excuse to cause havoc, racing around on skateboards, shooting other Hoolis, destroying stuff, spraying graffiti and other hooligan acts.
It’s an enthralling background story that’s inspired by legendary games like GTA, Zootopia and Ratchet and Clank, with players able to join up with one of seven factions vying for control of the city, with thrilling, fast-paced gun battles made superbly realistic by its stunning graphics and AI-features that use cameras to capture the player’s reactions in real-time and reflect them with their on-screen Hooli avatar.
Players can select from dozens of crazy weapons, including machine guns, sniper guns, flamethrowers, bats and more. Weapons can be purchased or found, encouraging exploration, and because these are NFTs too, they all have value and can be sold on the game’s native marketplace.
With numerous maps available to play and a selection of game modes, including team death match, free-for-all, player-vs-player and player-vs-environment battles, My Pet Hooligan is a classy game that promises to be as enduring as the AAA games that inspired its creation.
Web3 Gaming is changing
These developments suggest that the play-to-earn concept behind Web3 games has a very promising future, even if the first such titles failed at the test of time. There are many good ideas that take time to get right, and while the earliest blockchain-based games introduced a brilliant concept, they were very far from being the finished article.
But the heyday of games like Axie Infinity is a distant memory already, and the industry has moved forward at breakneck speed. With projects like Funtico and My Pet Hooligan rapidly establishing themselves as key players in the Web3 gaming ecosystem, it’s much more likely that the play-to-earn concept is here to stay.
The days of players throwing money at games with nothing to show for those investments are fast becoming a thing of the past.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
