The rise of mobile games has a lot in common with cryptocurrency games.

The rise of mobile games has a lot in common with cryptocurrency games.

In the last decade, mobile games have become the pillar of the interactive entertainment market. With access to smartphones, users all over the world have entered the field of hardcore gamers. Now the advent of blockchain technology is creating a paradigm shift that offers players the ability to truly own the assets they earn or buy in-game and generate tangible value from their gaming time.

This new model has a lot of opportunities to offer, but most current projects today do not fulfill the tasks of their old counterparts. This has caused many to doubt that these next-gen games could be of general interest. But this can be myopic. As a matter of fact, it is not the first time that a new technology is overlooked based on the first examples.

Blockchain games growth issues

web3 games It combines decentralized elements of the blockchain, including smart contracts and NFTs, to create virtual assets that can be authentically owned and traded by players without third-party interference. This innovation gives players a high degree of power. However, the cryptocurrency playground is still evolving, and many early offerings have been described as overly simplistic and derivative, failing to deliver new or engaging gaming experiences.

As a result, many self-proclaimed gamers don’t want anything to do with NFT games, perceiving a lack of depth and an overemphasis on financial gain. judicial “play to win”These products, called P2E or P2E, offer players the chance to gain real value in the form of cryptocurrency and NFTs, which can then be sold for fiat currency. One of the most prominent examples of a P2E game is Axie Infinity, which made headlines during the COVID-19 pandemic when it became an important source of income for many people around the world, but became unprofitable and profitable when bear market conditions kicked in. potential narrowed.

Unfortunately, that’s the case with many similar Web3 games. Not built to stand the test of time or major economic crises, many Web3 games have failed to mobilize their fans without their once lucrative financial backing. This has caused many critics of the blockchain gaming genre to assume that current offerings are the pinnacle of what’s possible, and as a result, the industry has been dismissed as a fad. But a look at the recent past, especially the monolithic rise of mobile gaming, shows that early products should not define future potential.

Parallelism of mobile games

If we were to look at games on mobile devices around 2005, the situation would have been just as dire. Titles were too plain, often clumsy, and lackluster in the graphics department. The classic game Snake was one of the most popular first mobile games when Nokia brought it to its mobile phone line with millions of players worldwide. At that point in history, anyone who used their phone to play games could only be called a casual gamer, and a story similar to the one we see today unfolded.

Many saw the mobile game as a novelty for casual gamers who would never be able to compete with the offerings found on consoles and desktops. Fast forward to today, games like Fortnite and Arena of Valor have become immensely popular among the hardest of gamers and have even impacted the gaming industry in general. Today, no one can argue that mobile games don’t meet the traditional offerings, as technology has evolved to make the differences more superficial.

Global consumer spend for gaming by device group. Source: data.i and IDC.

In fact, by 2022, 60% of the gaming market will be dominated by mobile. Now it is the biggest game branch in the whole world. While traditional gaming platforms are still around and working well, mobile has shown how it can change the narrative of an entire industry when the age of new technology comes. To be clear, Snake has not defined what mobile will be.

The future of crypto-based games

Whatever you may think about the focus and success of P2E games, it is clear that this criterion should not be used to judge the future viability of Web3 games. New generation games are already working on taking over old games. Some of these games still have P2E elements and others implement NFTs; but more importantly, the industry is learning that games need to go beyond financial compensation and offer truly engaging gameplay to attract and retain players.

Web3, P2E, and blockchain games are used interchangeably by many today, but they are not exactly the same. In the coming years, these branches may become more different from each other and even create new sub-categories of how this technology is applied. Assuming that all future offerings will be broadly similar belies the resulting diversity in the mobile market.

Only time will tell what will happen at Web3, but those who bet against him should think twice. There are many parallels between the rise of mobile gaming and what we’re seeing right now. It remains to be seen which killer apps could open the landscape to a wider audience, but 10 years from now, such games will likely exist alongside their console and mobile brethren.

Justin’s blog He is the director of the studio called Immutable Games Studio. He previously worked for Riot Games on hit games like Valorant, Wild Rift, and League of Legends. Justin earned a degree in comparative literature from Columbia University.

This article is for general informational purposes only and is not intended and should not be taken as legal or investment advice. The views, opinions, and views expressed herein are solely those of the author and are not required to reflect or represent the views and opinions of Cointelegraph.

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