The future of web3 gaming is not tap-to-earn—it’s Roblox

It’s no secret that Web3 gaming has had a tough time getting off the ground. However, if the Web3 gaming industry wants to make its mark on the global entertainment market, it needs to focus on what makes it unique. Current trends like click-to-win and other arcade-like models are far from that.

Thanks to blockchain technology, web3 game developers can create games designed for players with full rights to their virtual goods. This represents a gateway to new in-game economies and speaks to a new generation of gamers who use platforms like Roblox.

These players are accustomed to creating assets and making legitimate profits from them, as players can invest their creations in a dynamic and legitimate in-game economy. It is not uncommon for this group to see these games as lucrative full-time jobs. This is where Web3 gaming can find its ideal home.

History repeats itself

With a mature market for traditional video games as a competitor – totaling value $200 billion a year seems like a huge challenge for Web 3 games. However, that doesn’t necessarily mean they’re completely incapable of defending themselves.

This was also the case for traditional video games, which 30 years ago represented a small market next to the global film industry. Today, these games have largely surpassed this market, as the gaming industry has become Access About $227.6 billion in 2023, compared to just $65.21 billion for global subscriptions to online video streaming revenue. Games like Fortnite Owns An annual profit equivalent to half of the world’s box office revenue.

The current situation arose when a new generation of users emerged who became more adaptable to technological developments. Then people realized the huge potential of the gaming category, and companies turned to this segment of the entertainment market. Could this be the case for Web 3 games in three or five years?

Economy in (and from) entertainment

The number of video game enthusiasts continues to grow every year, welcoming new platforms and new business models. This is especially true for younger generations, who are more likely to treat gaming as their primary leisure activity.

Kids and teens have a lot of free time to spare. They can easily spend 10 to 12 hours a day “grinding” or collecting enough gear in a video game. For adults, however, that free time is squeezed by responsibilities, including financial ones. Many games lose repeat players at this stage of their product lifecycle primarily because they were not designed to balance engaging gameplay with financial incentives—a challenge that Web3 is uniquely positioned to address.

Is it possible to play for a living and choose it as a career path? A few years ago, this idea seemed ridiculous. Obviously, a select few people might treat gaming as a full-time job thanks to eSports competitions or streaming revenue. However, for most of them, those doors will remain closed.

roblox model

But if we look closely at some of the most popular and massively multiplayer Web2 games, we find entire financial systems that can shed light on a different perspective. For more than two decades, massively multiplayer online role-playing games like World of Warcraft or EVE Online have made players willing to pay real money for everything from leveling up their characters to earning in-game currency that can be used to purchase desirable items. Many skilled gamers treat these activities as their primary source of income.

However, there is no better platform than Roblox to spend time in the game. Rather, we can look at it as a bridge between what is happening in web2 models and what might be possible with web3 models.

As a social platform more than a game, Roblox offers its users an experience based on community-generated content. Roblox allows players to create their own assets and monetize these products by earning “Robux,” the in-game currency. After reaching a certain level, they can choose to convert these coins into real-world currency. This is an economy that is mostly powered by creators, allowing both parties (the company and the players) to earn their share.

Here is the monthly number of users on Roblox It arrives 300 million players. The platform has become the preferred entertainment activity for a whole generation of new gamers in the Gen Z age group. It turns out that providing players with freedom and tangible (financial) rewards for their creativity creates a huge amount of user engagement. Its model has created the right balance between financial incentives and good gameplay.

However, Roblox is not a blockchain-based project. Players do not own their creations and have to pay large fees to receive profits. As the developers point out on their website, only 29% of the value of the assets sold is He came back Directly to its creator. The rest is distributed to cover platform expenses or goes into the pockets of game developers.

Web3 can balance incentives and gameplay

It’s easy to see how adopting a model like Roblox to incorporate the benefits of a decentralized, permissionless on-chain economy could be the next logical step in the evolution of gaming. This could start with allowing players to manage their own in-game assets and go as far as designing new in-game economies.

From a Web 3 perspective, this approach could also be the solution to the lack of quality in Web 3 games today. A platform that brings users together by providing them with the right incentives would leave game developers to focus and compete solely on designing the best way to play.

Currently, most Web 3 games are in the process of finding their way or, at worst, attract users who are just looking for a quick buck. It’s no secret that this is what drives the success of certain categories, such as play to earn money and now click to earn money. This has been extremely unattractive to a whole generation of gamers who have never seen the combination of gameplay and financial incentives.

However, younger users who grew up on games like Roblox, Fortnite or Albion Online have different expectations. They are also looking for good entertainment and opportunities to socialize with other players, but the financial components are already part of the game for them.

This is where we need to chart the new path for Web 3 gaming. Gen Z players are already accustomed to economic mechanisms, and the demand for capital leverage will only increase over time. They’re halfway there. All we need to do is design platforms that improve the overall quality of the experience, and Web 3 gaming could be the birthplace of the next Roblox.