The Future of Web3 Gaming: A Call for Growth
OKX thinks that a Web3 version of Steam, one of the most popular Web2 digital game distribution platforms, is essential to the growth of the cryptocurrency gaming industry as Web3 games continue to garner interest. As part of its endeavors to expedite Web3 gaming, the company introduced OKX GameSphere in July. Since its inception, developers have shown receptivity and appreciation for the assistance with Web3 mechanics, user experience, liquidity, and distribution, according to Jason Lau, chief innovation officer of OKX.
- Steam is a well-known online gaming store with chat and multiplayer capabilities.
- Players can communicate and engage in online gaming with buddies due to it.
- With millions of active users every day and a peak usage of 34 million, the platform is predicted to bring in $8.8 billion in revenue by 2028.
Why does Web3 Gaming need a Steam-Like Platform for Digital Ownership?
Lau responded that although Steam has effectively spread Web2 games, it is missing Web3 components, which is why Web3 requires a platform similar to Steam. Though it lacks genuine digital ownership and decentralized economies, Lau claims that the platform sets a high bar for Web2 gaming.
This prevents game developers from creating new gaming experiences, implementing innovative business models and building deeply engaged communities.
Lau
Steam vs. Web3: How GameSphere Is Leading the Crypto Gaming Revolution?
The company that created Steam, Valve, urged users not to post content on cryptocurrency or NFTs and deleted games that used blockchain technology from its platform in October 2021. Applications that offer cryptocurrency or NFTs are forbidden from using the video game developer’s platform, according to regulations they released.
Steam prohibited cryptocurrency gaming, while Web3-native platforms saw the ecosystem thrive. According to Lau, GameSphere has integrated Web3 games, such as massively multiplayer online role-playing games (MMORPGs) and football simulators, since its launch. The CEO continued, saying that MMORPGs with Web3 dynamics and The Open Network (TON)-based games will be added to the roster.
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