Serotonin, the leading marketing agency in Web3 field, published a report on November 2 to demonstrate how both studios and gamers can benefit tremendously from Web3.
Serotonin believes that the recent explosion of “freemium” games doesn’t bode well for the future of gaming, suggesting that in-game monetization may grow to dictate how all games are created. To avoid a future of creative stagnation and gameplay repetition, a fundamentally new way of creating and monetizing games is needed.
As gamers increasingly expect more control and ownership of their own online experiences, in-game or otherwise, blockchain technology enables a wide range of potential solutions to the gaming conundrum.
Serotonin’s report shows that a growing number of gamers are taking notice and interest in Web3. 52% think the metaverse will change the video game industry, while 40% are interested in a mix of both the “playing” and “earning” aspects of the metaverse.
Web3 gaming investments have continued picking up pace, with $2.5 billion in VC funding allocated to Web3 gaming in Q2 2022 alone, DappRadar‘s report showed. However, the vast majority of Web3 gamers are crypto users who see today’s games as another opportunity to earn money, not to enjoy novel gameplay. Serotonin argues that the dominant models of Web3 gaming in the market today are in many ways detrimental to the public perception of the emerging field.
Play-to-earn is the leading model for Web3 gaming today, and gamers’ complaints about the mode center on monetization of everything, predictable gameplay, upfront barriers to entry, and unintuitive user experiences.
Serotonin predicts that future Web3 games will have immersive experiences, cross-game interoperability, more gaming-related DAOs, and blurred lines between gaming and everything else through the metaverse.
The gaming and Web3 worlds are not hugely different, and both are actively applying new technologies to elevate their core value proposition. The projects that manage to successfully marry the two will literally change the game, Serotonin claimed at the end of the report.