With the rise of embedded markets, Web3 gaming is changing. These built-in markets fit right into the game experience and offer a new way to buy, sell, and trade in-game items. In this blog, we'll talk about the idea of "embedded economies" in Web3 games. We'll talk about how they help game makers and what they mean for the future of the gaming industry.
Understanding Embedded Economies in Web3 gaming
Embedded economies in Web3 gaming are when in-game markets are built right into the game itself. In the past, game makers had to use outside platforms to buy and sell in-game assets. But this often made it hard to play, since players had to leave the game client to buy or sell things. Embedded economies get rid of this problem by making the market experience smooth within the game.
CEO of Aqua.xyz Sean Ryan talks about how important embedded marketplaces are by saying, "In Web3 gaming, the projects have to make their own marketplaces, and they're just not good at it. What we found is that they want someone else to run the market for them. They want someone to do it in a way that is integrated into Unreal or Unity. It fits together much better than what you see in Web2."
Benefits of Embedded Marketplaces for Game Developers
Enhanced Player Retention: One of the main benefits of embedded markets is that they help keep players around longer. Also, developers can keep players interested without them having to go to other platforms by integrating markets into web3 games in a seamless way. Alay Joglekar, who is in charge of marketing at Aqua.xyz, says, "Pushing people outside of the game client is probably the biggest rule that game companies don't follow. The most important thing is to keep them."
Streamlined Monetization: Embedded marketplaces make it easier for game makers to make money from their games. They can make money by helping people sell in-game items and getting fees for doing so. This makes a sustainable business plan and makes sure that Web3 gaming is fair and balanced.
Improved User Experience: By putting markets inside games, developers can improve the user experience as a whole. Gamers can find, buy, and sell in-game items without having to leave the game and switch tabs. This helps make the game more interesting and fun to play.
Ryan says, "We need to show them that if they buy this asset, they can move forward and get better… We believe that if you trade better, you will play better. This method shows that the attention is on improving the gaming experience and giving players more than just money.
Collaboration with Third-Party Developers: Embedded marketplaces also make it possible for game creators and other marketplace providers to work together. By adding marketplaces to popular Web3 game engines like Unreal Engine or Unity, developers can use the knowledge of marketplace platforms. This cooperation makes it possible to make in-game businesses that are strong and safe.
Implications for the Future of Blockchain and Web3 Gaming
Bridging Traditional and Blockchain Gaming: Embedded economies could help bridge the gap between traditional and blockchain gaming. By making games that are fun to play and have blockchain features built in, developers can draw both traditional gamers and crypto fans. This will help blockchain technology spread and be used more in the gaming industry.
Building Stronger Gaming Communities: Embedded marketplaces make gaming communities stronger by giving players a place to talk, sell, and work together without leaving the game. This community-driven method improves social interaction, makes players more loyal, and gives them a sense that they own and belong to the game.
Diversification of Gameplay: The addition of embedded economies gives game makers more ways to change how games work. With the ability to make in-game markets and assets that can be traded, developers can add new ways to play that involve managing assets, trading strategies, and allocating resources. This gives the game more depth and complexity, making it more interesting to a wider group of players.
A Shift in Game Design Focus: The rise and fall of play-to-earn games like Axie Infinity showed that game designers need to change their focus. Early Web3 games put a lot of emphasis on financial aspects and speculative trade, but now the industry knows how important it is to focus on quality gameplay and the player. Ryan says, "We think the first games were not very good, so we think the games will get better." The future of Web3 gaming will depend on how well games that are fun and interesting are made.
Sean Ryan said, "The future of games is bright, and we think that putting economies into games is a key step toward letting Web3 games reach their full potential."
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