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Web3 Gamers in the Bear Market: Navigating the Emerging Industry

February 13, 2023
4 min read

GM Tigers, last week we brought our dear friend Rich Cabrera, the founder of web3 gaming guild ReadyPlayerDAO, to discuss the state of web3 gaming, player behavior, and the future of gaming in web3. Rich is an OG in this space, so there’s no better person to spill some prime insights on these topics. Don’t worry if you missed the conversation. We have some of the best insights from the discussion right here!

Web3 gaming is an emerging industry that's rapidly growing, and despite the current bear market, it has a lot to offer gamers and investors alike.

Let’s learn how ReadyPlayerDAO is navigating Web3 gaming

ReadyPlayerDAO is a hybrid gaming guild that's dedicated to promoting the growth of the web3 gaming industry. The organization focuses on three pillars: content marketing, consulting services, and community building. Rich tells us that he fell in love with the Web3 space about two years ago and decided to start the organization to spread awareness about this emerging industry.

Tegro: Building a Game Asset Marketplace

Self-promotion incoming! Another player in the Web3 gaming space is Tegro, which is building a game asset marketplace to help people invest in and trade Web3 gaming assets. At the moment, there’s not much infrastructure in the space that’s dedicated to making investing easier and more seamless for Web3 players. Tegro aims to build a platform to solve this problem. Another issue that’s been pestering the industry for the last two years is the exodus of players due to the bear market. According to Rich, there was a period when many people left the space due to the bear market, but this year we'll see the release of some of the best Web3 games, which will likely bring back players.

Exciting Web3 Games on the Horizon

Rich is particularly excited about Fablebourne, a Web3 MOBA, and Sid is looking forward to the return of Axie Infinity. The increasing number of great games in the Web3 gaming space is also giving a boost to content creators who are producing content about this industry.

Focus on the Creator Network and Value Program

ReadyPlayerDAO is focused on supporting up-and-coming content creators in the Web3 gaming space through its Creator Network and Value Program. The organization wants creators to produce content that's meaningful to them and their audiences, but it especially wants to focus on the gameplay aspect of Web3 titles.

Overcoming Resistance from Traditional Gamers

Many traditional gamers are skeptical of Web3 games and the financialization that's an integral part of these titles. ReadyPlayerDAO wants to convey the message that Web3 games are not much different from Web2 games. The digital ownership and financialization that Web3 brings to the games is a feature not a bug.  However, it will take trusted content creators that Web2 gamers know and trust to bring them into the Web3 gaming space.

Bear Market: A Temporary Setback

The bear market has caused the payouts from many Web3 games to become so low that it's no longer worth it for players to invest their time in them. However, this wouldn't have been a problem if financial incentives were the only thing these early games had to offer. A lot of the AI for the NPCs, generative art, and transformative art will play a significant role in the future of Web3 gaming.

The Future of Web3 Gaming

In five years, Rich believes that we won't call this space Web3 gaming but just gaming. Despite the bear market, the builders will continue to build great products and services in the Web3 gaming space. The new trend will face resistance from the status quo, just as mobile gaming faced resistance from desktop gaming. However, with time and continued growth, Web3 gaming will become a dominant force in the gaming industry.

In Closing

The bottom line is this, folks: Web3 gaming is an exciting space with a lot of potential, and despite the current bear market, it's worth keeping an eye on. With organizations like ReadyPlayerDAO and Tegro working to promote the industry and a growing number of great games on the horizon, the future looks bright for Web3 gaming. Stay tuned to our socials for more insightful content on the state of this emerging industry.