Discover why Polygon Labs’ Ryan Wyatt believes gamers will eventually embrace Web3 blockchain games. Explore the future of NFT gaming, digital ownership, and the impact of Web3 on the gaming industry. Dive into insights on play-to-earn and blockchain gaming developments.
Gamers and Web3: The Future According to Polygon Labs’ Ryan Wyatt
Key Takeaways from Ryan Wyatt’s Insights
- Blockchain Games and Mass Adoption
- Gamers will eventually embrace Web3 blockchain games.
- Adoption will accelerate as technological friction decreases.
- Current Challenges
- Many gamers are skeptical due to early NFT gaming attempts and market issues.
- Improved gameplay and real value are essential for wider acceptance.
The Shift to Digital Property Rights
- Ownership in Gaming
- Traditional gaming models limit ownership and transferability of virtual goods.
- Web3 introduces true digital ownership through NFTs.
- Potential Benefits
- NFTs allow for buying, selling, and trading of in-game assets.
- Blockchain assets can be used across different games and virtual worlds.
Lessons for Web3 Developers
- Learning from Past Mistakes
- Past play-to-earn games faced criticism for being simplistic or economically unsound.
- Developers must create engaging and sustainable Web3 gaming experiences.
- Future Vision
- Integration of blockchain assets in popular games could enhance player experience.
- Developers should focus on seamless crypto integration and user-friendly interfaces.
Web3 Advantages Highlighted by Wyatt
- Simplifying User Experience
- Future Web3 games will abstract away the complexities of crypto wallets and NFTs.
- Using familiar terms like “digital collectibles” can ease the transition for players.
- Collaboration and Scaling
- Wyatt emphasizes the importance of combining Web3 and non-Web3 elements for better scalability.
- Collaboration with experienced teams can lead to more multifaceted gaming platforms.
With these points, you’re all set to dive into the detailed breakdown of gamers’ potential shift to Web3 adaptations, blockchain gaming, and the role of NFTs. Let’s get into the specifics!
Gamers will Eventually Turn to Web3 Adaptations, Claims Polygon Labs President Ryan Wyatt
In a recent podcast, Ryan Wyatt of Polygon Labs discusses his views on the widespread adoption of Web3 blockchain games by gamers.
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Despite the Efforts by Prominent Gaming Firms, Young Gamers have Been Reluctant to Switch to Blockchain Gaming. However, 2022 was a momentous year for cryptocurrency in many more than one way. The bad market’s unfavorable effects, nevertheless, lessened the euphoria surrounding the blockchain upgrades. However, it materially drew crypto ecosystems closer to the financial future. The year began with mainnet updates based on Ethereum Improvement Proposal (EIP)-1559, also known as the London hard fork, from the top decentralized Ethereum scaling platform Polygon.
The addition of video games to the crypto market and Web3 has been a huge success in the recent present. Ryan Wyatt of Polygon Labs recently presented his argument for why gamers would help drive the adoption of Web3. The talk was on an episode of Decrypt’s gm podcast. Since joining Polygon Labs at the beginning of last year, Ryan Wyatt has swiftly established himself as a leading figure in the cryptocurrency industry. However, his background in gaming and esports may be more well-known.
Ryan Wyatt, Polygon Labs and Gamers’ Opinion
Enthusiastic video gamers have criticized prominent NFT gaming attempts by companies like Ubisoft, Square Enix, and GSC Game World. Critics point to early NFT games’ limited gameplay, frauds in the cryptocurrency sector, declining asset prices, and the expectation that game publishers will employ NFTs to fleece players of more money.
Ryan Wyatt, who leads the business team at Polygon Labs, an Ethereum sidechain network talked about the future of gaming and Web 3. “It’s a matter of time. By the time we see mass adoption of Web3 games, really, out in a couple years; the friction that you see today I think will largely be gone. Not entirely, but gamers are the savviest tech group—so they’ll be the earliest adopters,” he said.
Digital Rights: The New Side of the NFT and Gaming
Gamers are already aware of digital property rights and the notion that virtual goods are valuable having personal significance. There are restrictions on ownership in Web2 gaming models. For example, Fortnite sells a variety of character “skins” and goods that a player cannot trade or use in other games. And they might be useless if Epic Games eventually suspends Fortnite.
In contrast, an NFT that represents a special person, thing, or idea might be freely bought, sold, or exchanged. Also, because blockchain assets are reusable, they can partially be utilized in other video games and metaverse universes. Wyatt, however, asserted that for players’ attention and money to be justified, Web 3 games must be better. “You’ve just got to give them a reason to go play a game,” he added, but concluded that “it’s not there right now.”
However, some fans of video games have outspokenly opposed NFTs, even though you cannot earn from conventional gaming. In games like Fortnite and Call of Duty, players already pay for digital objects. But they can’t resell or use in other games or virtual worlds. Games built on blockchain technology may offer players that level of control with additional benefits.
Lessons For Web3 Game Developers
Axie Infinity, a play-to-earn game with over $4 billion in NFT trade volume, is a leading game. Play-to-earn game value and attention soared in 2021, but such games were regarded as shallow and simplistic—or scammy and economically unsound. Wyatt, of Polygon Labs, anticipates that developers will make progress in the future in terms of creating interesting Web3 experiences. “We’re going to learn a lot over the next year or two on how you start to make really interesting blockchain-based games,” he said.
He imagines a world in which a popular free-to-play shooter like Call of Duty: Warzone could include blockchain assets. So, this will allow players to buy and trade NFT weapons and accessories. It will also support independent artists’ creation and sale of their own supported goods. The game publisher may then provide easy on-ramps into cryptocurrency and sell tokens in place of in-game currency.
Ryan Wyatt Highlights Web3 Advantages
Web3 games may abstract away the difficulties of using cryptocurrency wallets. And managing NFT assets during that evolution and partially concealing the technology. They might also utilize terms like “digital collectibles” and other terms that Web2 brands have used for NFTs. It will help disguise their vocabulary, similar to how Reddit uses its avatars.
“I also felt that where I could add value is helping with scaling, and helping add some of the non-Web3-native elements into Polygon to make it more multifaceted,” he said. “And so I just really clicked with Sandeep [Nailwal, Polygon co-founder] and the team because it felt like we were very complementary of each other’s skill sets and weaknesses.”
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