Majority Video Game Studios Embracing Web3 Gaming
Web3 is the future of the internet, distinguished by its decentralized structure. Its popularity has led to numerous video game companies exploring Web3, with 29 out of the top 40 companies, equivalent to 72.5%, entering the domain to some extent.
A study shows that major companies like Microsoft, Tencent, Sony, and Nintendo are investing in blockchain gaming, including direct investments in Web3 projects and active participation in creating blockchain-driven games. They are also hiring professionals for blockchain technology positions. Microsoft has invested in WeMade, a blockchain-driven game development firm, to mitigate potential negative publicity. Meanwhile, 24.1% of seven firms are actively building blockchain-based games.
Despite the optimism, concerns about Web3 games surpassing the Web2 era persist. Despite the downturn in the cryptocurrency market, investors and startups are exploring the potential of Web3 gaming to attract new users to the cryptocurrency space and the Web3 industry.
(With inputs from Shikha Singh)
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