Published on: 26/01/2024
The Rise of Fully On-Chain Gaming: Paving the Future with W3Gamez Network
Blockchain technology has been pushing the boundaries of various industries, and one thats gaining significant momentum is the gaming sphere. The introduction of Web3Games.com and its W3Gamez Network will not only amplify the transformation but also redefine how we interact with games.
Blockchain gaming has been around since 2014, beginning with Huntercoin. These games have often been considered the domain of a select few, with the most popular blockchain games like Axie Infinity drawing a fraction of the user base of big titles like Counter-Strike 2. Despite the disparity, blockchain games have begun attracting attention outside their niche, thanks in large part to pioneers like Web3Games.com, who see the potential in fully on-chain games.
The idea of fully on-chain gaming is still in its infancy, primarily capturing the fancy of tech enthusiasts. However, its being recognized as a promising frontier for the next big innovation in gaming, one that offers both developers and players a unique, decentralized experience.
Web3Games.com has been functioning since 2021, focusing on the intersection of blockchain technology and gaming, offering real asset ownership, enhanced transparency, and user-friendly blockchain development tools. Its aim isnt just to create games, but a whole new digital gaming ecosystem built on blockchain – a vision materialized through the recent launch of their fully on-chain Layer 2 network, the W3Gamez Network.
The creation of fully on-chain games pushes us into uncharted territory, where the strict technical limitations of these games become a Herculean challenge to overcome. Traditionally, GameFi games incorporate game assets on-chain, while the game logic remains on centralized servers. This system questions the games fairness and transparency as players cannot verify the mechanics.
In overcoming these challenges, Web3Games.com has turned its attention towards Layer 2 rollup solutions, facilitating the creation of fully on-chain games that are both efficient and cost-effective. The released W3Gamez Network is a specimen of this innovative solution, which employs NEAR Data Availability to ensure inexpensive, high-throughput transactions for game elements and logic.
Beyond the W3Gamez Network, Web3Games.com is launching two tokens, WGT and W3G, both vital to its ecosystem. The token sale of W3G has already commenced and is expected to conclude by January 28. They aim to raise $400,000, with a token price of $0.02 USDC.
Interestingly, Web3Games.com is not just raising funds but also raising eyebrows. It garnered $4 million from two funding rounds from investors such as NEAR Foundation, DAO Maker, and LD Capital. Furthermore, they have collaborated with NEAR on multiple projects, one being providing blockchain technology solutions to Alibaba.
Putting an entire game on blockchain is no small feat, it has its fair share of skepticism and challenges. High latency, scalability issues, and storage limitations of blockchains make this seem like a distant vision. Regardless, Web3Games.com has dedicated 2024 to the development of on-chain gaming, with W3Gamez Network being a positive step in that direction.
From an investors perspective, the advent of fully on-chain gaming could herald a new era in decentralized applications (DApps). This groundwork suggests the possibility of onboarding a significant user-base to blockchain through gaming. The development architectures, incentive structures, and economics of W3Gamez Network addresses these prospects, making it appealing for both developers and investors.
While giving power back to the players and promoting transparency, blockchain gaming also opens new financial opportunities for investors. Reduced reliance on central authorities, combined with the property rights decentralization offers, means gamers could profit from their in-game successes, thus attracting a broader player base and potentially, bigger investments in the sector.
In conclusion, these developments signify a bold yet confident leap towards the future of gaming and blockchain. Web3Games.com and their W3Gamez Network could mark the start of a journey towards a decentralized, transparent, and profitable gaming industry that holds significant promise for developers, gamers, and investors. The narrative continues to evolve, but the potential for blockchain gaming is just starting to be unlocked.