Out of the few industries that have profited despite the fallout of the coronavirus pandemic, web3 gaming has witnessed the most significant rise to prominence. Growth of the blockchain gaming sector soared by over 2,000% during 2021 — during which many nations were subject to strict lockdowns. The success of web3 gaming perhaps comes as no surprise, with the sector finding a comfortable niche between entertainment and reward at a time when many were out of work and housebound.
But with restrictions mostly lifted, play-to-earn (P2E) gaming platforms need to look for ways to sustain the momentum from the past year and even go beyond to appeal to audiences outside of its predominantly crypto demographic. To do so, they first need to remove a significant barrier to entry — costs.
To get started with many web3 games, users are often expected to pay exorbitant prices for in-game characters and assets, which can price out those with less capital. To compound issues further, current web3 gaming experiences simply aren’t exciting enough to retain players.
Instead, web3 gaming needs to take a leaf out of the traditional mobile gaming playbook and subsidize these high entry costs via advertising.