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If we see a big resurgence in Web3 gaming, it’s probably going to look a lot different. And perhaps that’s for the best.
The landscape of Web3 gaming is evolving, with a noticeable shift towards catering to a different audience. Kate Irwin from The Drop has observed a move away from traditional video games with optional crypto elements towards games targeting crypto enthusiasts.
According to Irwin, the primary audience for Web3 games are now individuals immersed in the world of cryptocurrency trading, rather than typical gamers. This shift has led to the development of games that essentially revolve around trading with a gaming layer on top.
It seems that traditional gamers are not as receptive to crypto integration in games, leading developers to focus on engaging with a new demographic. One project that exemplifies this transition is THNDR, which is transitioning to a casino-style game model rather than a play-to-earn concept.
The gaming industry may have overestimated the appeal of crypto-integrated games, as evidenced by the lukewarm reception of titles like Off the Grid. The aftermath of FTX’s collapse still lingers in the minds of non-crypto individuals, making it challenging to attract them to crypto-centric gaming experiences.
As the industry continues to adapt, the influx of venture capital funding will be a key indicator of growing interest in Web3 gaming. Monitoring VC activity is crucial in identifying emerging trends and areas of opportunity within the crypto gaming space.