Shifting from Play-to-Earn to Play-and-Earn in Web3Gaming

To attract new mainstream crypto adopters, Gracy Chen, the managing director of trading platform Bitget, suggests that Web3 games should shift their focus from “play-to-earn” to “play-and-earn.” Currently, many Web3 games prioritize the economic elements and overlook gameplay. Chen believes that for Web3 games to appeal to Web2 gamers in 2024, they need to prioritize gameplay. She points out that in comparison to Web2 games, GameFi projects should offer more than just the opportunity to earn money. While play-to-earn has been a significant factor in attracting players to projects like Axie Infinity, there should be a shift towards play-and-earn.

Web3 games have faced criticism for their lack of user-centricity and engaging gameplay. Many previous games have focused solely on offering lucrative crypto incentives to players. The industry is gradually transitioning to more player-centric games, thanks to Web2 game founders entering the crypto gaming space.

Chen is optimistic about the future of more player-centric games but warns that most current GameFi projects are of low quality despite their high valuations. She advises investors to only support games with completed products and user-centric approaches.

Despite the criticism, Web3 games continue to attract investment. A significant number of major gaming companies, about 72.5%, are investing in Web3 games. According to a 2023 CoinGecko report, 29 out of the 40 largest gaming companies have entered the Web3 space, with only 7 of them (24.1%) developing blockchain games.

In February, the GameFi project Pixelmon, inspired by Pokemon, secured an $8 million seed investment round from various Web3 games. Singapore-based Web3 venture capital studio LiquidX previously acquired over 60% of the project for $40 million in September 2022. Despite this investment, Pixelmon’s first game, Warriors of Nova Thera, is only now entering alpha testing in April.

Despite the lack of player-centric projects, Web3 games accounted for over 30% of all decentralized application (DApp) activity in the first quarter of 2024, as reported by DappRadar on April 11.

7 thoughts on “Shifting from Play-to-Earn to Play-and-Earn in Web3Gaming

  1. I can’t believe that Web3 games have attracted so much investment. It’s a shame that these companies are prioritizing profit over creating enjoyable gaming experiences.

  2. This is just another attempt to make money off of gamers. Can’t they just focus on making fun games instead of trying to squeeze every last bit of profit out of us?

  3. I can’t believe that so many major gaming companies are investing in Web3 games. It’s clear that they’re only interested in the potential profit, not in creating enjoyable games.

  4. These GameFi projects are just cash grabs. They don’t care about creating a fun and engaging gaming experience. All they want is to make money off of players.

  5. It’s clear that Web3 games are more interested in the economic elements than in gameplay. I won’t be wasting my time or money on them.

  6. I’m confident that Web3 games will continue to evolve and improve, offering a more immersive and rewarding experience for players. The future looks bright for the intersection of gaming and cryptocurrencies!

  7. I’ve tried some Web3 games, and they’ve all been a letdown. It’s obvious that they prioritize the economic elements over gameplay. I won’t be wasting my time on them anymore.

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