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7/26/2024

Fact or Fiction: Debunking 5 Web3 Gaming Myths

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TL;DR

Think you know everything about gaming? Think again. 

At Immutable we’ve been at the forefront of web3 gaming since 2018. We’ve seen trends come and go, weathered market ups and downs, and witnessed the evolution of blockchain technology in gaming (we even built one of the first Ethereum games!) 

Through it all, we’ve remained focused on one thing: building the future of gaming. 

Now, web3 is reshaping the gaming landscape, but myths and misconceptions are still prevalent. It's time to separate fact from fiction and uncover what's really happening in the world of web3 gaming.

Fiction: AAA game studios are ignoring web3 gaming

The misconception that AAA studios are sitting on the sidelines of web3 gaming couldn't be further from the truth. While skeptics might view web3 as a passing fad, industry giants like Ubisoft recognize web3's potential to transform player ownership, in-game economies, and cross-platform experiences.

Fact: AAA studios are betting BIG on web3 gaming

Major players are diving headfirst into web3. 29 of the world's 40 largest gaming companies, including Sony, Ubisoft, and Epic Games, already invest in this space. The market is set to explode from $4.6 billion in 2022 to $65.7 billion by 2027.

This isn't just talk. CCP Games raised $40 million for a triple-A web3 game, Sony's patenting cross-platform digital assets, and Epic's welcoming blockchain games onto their platform.

With nearly $20 billion invested in the last 4 years and 40% of the 380+ games on Immutable launching in 2024, we're witnessing the dawn of a new gaming era.

Fiction: You need to be crypto savvy to play web3 games

Seed phrases, gas fees, and blockchain jargon – it’s no wonder many gamers believed you needed a degree in computer science just to get started. But that’s ancient history now. 

Gone are the days of complex wallet setups and confusing cryptocurrency transactions. The tech behind web3 gaming is still there, but it's now hidden under layers of user-friendly interfaces. 

Players can jump into games without ever seeing the word "blockchain" if they don't want to.

Start playing now

Fact: Web3 onboarding is easier than you think

Web3 gaming is becoming increasingly user-friendly. Take Guild of Guardians, for example. It launched with a 4.9/5 rating on the app store and over 30K downloads in just two days. 

Players are diving in without needing to understand the underlying tech.

Immutable's Passport, with over 1.5M signups, makes getting started a breeze. One new player said, "My brother has never tried web3 gaming before. He never wanted to write down his seed words. But he's been playing Guild of Guardians, he's created a passport account, and he's completely addicted."

The focus is shifting from complex setups to seamless gaming experiences. You don't need to be a blockchain expert – just a gamer ready for the next level of digital ownership.

Fiction: Web3 games are just pay-to-win scams

While there are valid concerns about some web3 games being overly financialized or "pay-to-win", dismissing the entire category as a scam is an outdated and inaccurate view.

The reality is more nuanced, with games like Gods Unchained, Illuvium and Alien Worlds, offering unique gameplay and economic models that aim to benefit both players and developers.

Rather than pure pay-to-win, they allow players to create, own, and monetize in-game content and experiences.

Fact: Players are making real money from web3 games (without spending a dime)

Web3 gaming isn't about pay-to-win; it's about play-to-own. Your time, skill, and strategy translate into real-world value. And that's a game-changer.

Take Gods Unchained, for example. Players earn cards through daily gameplay, which they can trade or sell for real money. No initial investment is required.

The numbers speak for themselves. Web3 gamers in Gods Unchained transact over $130 monthly, sustained over years. They also play 24% more daily than the top 25% of mobile games. This isn't just engagement – it's empowerment.

Guild of Guardians takes it a step further. 

Players can start without touching web3 elements, gradually upgrading their Guardians to access web3 features. 

If you’re curious to learn more, check out our $50M Main Quest reward program designed to help you see for yourself what to expect when we talk about real benefits of digital ownership.

Fiction: Web3 gaming graphics suck 

Just like in traditional gaming, web3 titles span a wide range of art styles and fidelity levels. From pixelated indie gems to AAA-quality graphics, there's something for every visual preference in the web3 gaming world.

Advancements in blockchain technology enable more complex game worlds and smoother gameplay. Major game engines like Unity and Unreal Engine now support web3 development, opening doors for visually stunning experiences.

Fact: Next-gen graphics are powering the web3 gaming industry

Web3 games are pushing the boundaries of visual fidelity.

  • Games like Space Nation Online, a AAA Space Opera Web3 MMORPG, bring console-quality graphics to the blockchain space. 
  • The Red One, an extraction shooter developed on Unreal Engine 5, showcases how web3 games leverage cutting-edge game engines for stunning visuals.

  • Even strategy games are getting a visual upgrade. Medieval Empires offers a richly detailed historical world, proving that web3 gaming can deliver strategic depth and eye-catching graphics.

The focus on quality extends beyond individual titles. 

As Robbie Ferguson, co-founder of Immutable, emphasizes: "The games we work with have to be quality games that you would want to play outside of web3. That's a really important bar."

Web3 gaming isn't just catching up to traditional gaming graphics – in many cases, it's leading the charge into the next generation of visual experiences.

Fiction: Web3 games are just for crypto bros and NFT collectors 

Many assume web3 gaming is a niche playground for blockchain enthusiasts. This classic, outdated view misses the point.

Fact: Millions of mainstream gamers are already playing web3 games (are you?)

Chart showing monthly active users of Immutable zkEVM

Web3 gaming is going mainstream, and the numbers don't lie. 

Immutable zkEVM alone has surged to nearly 2 million monthly active users.

Major players are jumping in. Netmarble, one of the world's largest gaming publishers, is migrating its MARBLEX platform and three hit titles to Immutable. These games, including Ni no Kuni: Cross Worlds and A3: Still Alive, have over 1 million monthly active users and generated over $80 million in revenue in 2024.

It's not just about established titles. 

New games like The Mystery Society (by ex-Disney and ClubPenguin veterans) and Baby Shark Universe (with over 10M unique downloads) are building on web3 tech. Even sports games are getting in on the action, with a former EA GM bringing Somnis Rumble Rush to the Immutable platform.

The shift is clear: web3 gaming isn't just for crypto enthusiasts. 

It's for anyone who loves great games. 

The question isn't whether web3 will transform gaming, but whether you'll be at the forefront or playing catch-up. Ready to level up your gaming experience? 

Check out our Play Page and dive into the future of gaming today!

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Disclaimer and risk statement:

This ‘How to’ guide is provided for information purposes only and does not constitute investment advice or a recommendation.  While Immutable has taken all reasonable care in preparing this guide, it is provided on an “As is” basis without any representations or warranty, to the maximum extent permitted by applicable law. In no event shall Immutable or any of its affiliates or any of its directors, officers, agents or employees be liable for any loss or damages in connection with the use of this guide. Some of the solutions referred to in this guide are provided by third parties; Immutable takes no responsibility for third party technology and you should refer to the policies, terms and conditions of those third party services before engaging with them.  Dealing in crypto assets can be complex; you should be aware of the risks involved with dealing with crypto assets, including with respect to transferring and bridging assets across different blockchain environments.

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