Since its inception in 2017, Web3 gaming (a.k.a. blockchain gaming) has faced significant hurdles, leaving the industry at a critical crossroads — adapt or perish (as some believe). But others, including myself, are confident that the world of Web3 games is merely undergoing a much-needed transformation, having only recently shed the hype-driven mentality that marked its infancy.
To put this into context, one must remember that mobile games had similar challenges. The quality of the first games, created primarily by enthusiasts and indie studios, was noticeably poor. The infrastructure needed for developing and delivering high-quality games was absent. Fast forward to today, the global mobile gaming market has increased from $118.34 billion in 2022 to $138.63 billion in 2023, with a compound annual growth rate (CAGR) of 17.1%.