Burcin Oztuna, Dynasty Studios' resident Lead Blockchain Strategist, took to pen this analysis piece offering insight into the future of Web3 games.
The year 2024 and beyond holds significant potential for the Web3 gaming industry. The integration of blockchain and cryptocurrency technologies into the gaming world offers new opportunities for game developers and players. However, it is important to recognize that this new era brings both great opportunities and significant challenges.
Market Dynamics and Growth
Since 2020, the gaming industry has experienced a notable stagnation in sector revenues. The primary reasons for this stagnation include inflation, increasing development and marketing costs, and the demand for increasingly high-quality games in line with player expectations.
The State of the Web3 Gaming Market
The Web3 gaming market saw significant growth and interest in 2021. Axie Infinity, in particular, achieved notable success with over 2 million active players and an annual revenue of $1.3 billion, ranking among the top 10 game companies.
Can Second-Generation Web3 Games Expand the Market?
Do second-generation Web3 games have the potential to create a significant impact similar to the one mobile games had? Mobile games revolutionized the gaming industry with technological innovations and the ability to reach a wide audience. Similarly, the new generation of Web3 games could make fundamental changes in the gaming world with the innovations provided by blockchain technology.
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Avalanche Prepares to Welcome Gamers to Web3 through Providence
With over a decade of game development experience, Dynasty Studios is now entering the Web3 space with their free-to-play flagship game, Providence, in partnership with Avalanche.
Dynasty Studios announced their flagship web3 game: Providence
Providence, a AAA web3 game by Dynasty Studios, has been announced at Avalanche Summit II. The survival game will have a playable alpha this year, after 2 years in development.