While gaming is a key aspect of Web3, some industry leaders argue that despite substantial funding, many blockchain-based games have failed to deliver. Kori Leon, co-founder of the TON-based gaming ecosystem Pixelverse, believes many games have not lived up to their promises, despite receiving significant backing.
Leon pointed out that although these projects secured considerable venture capital, they failed to attract players due to poor gameplay. “The current state of gaming has been disappointing. Despite significant fundraising for supposedly AAA games, recent launches, heavily backed by venture capital at high valuations, have delivered poor gameplay, failing to attract players beyond those speculating on in-game asset values,” Leon told Cointelegraph.
Building Communities Over Hype
Leon emphasized the importance of focusing on community, culture, and distribution for the success of Web3 projects. “For the ecosystem to thrive, it is crucial for projects to focus on what makes them successful: community, culture and distribution,” he explained.
Pixelverse, which saw 50 million players in June on its Telegram mini-game Pixeltap, is taking a different approach. The organization aims to build a strong user base without making unrealistic promises. Leon mentioned that their upcoming infrastructure and new game releases will provide a more AAA experience but stressed that they have already laid the groundwork for distribution and community building. “This positions Pixelverse for endless possibilities,” he said.
Gaming as a Key Onboarding Mechanism for Web3
Randy Wasinger, founder and CEO of CryptoSlam, believes gaming remains a critical way to attract new users to Web3. In an interview with Cointelegraph, he said, “I absolutely feel that gaming is a critical onboarding mechanism for Web3. I’m still waiting for that killer game that brings not a few hundred or a few thousand new people but millions and millions of people. I think that’s possible. I’ll even double down on that and say it’s inevitable.”
Wasinger noted the substantial investment in Web3 games but acknowledged that the best games require long development cycles. He expressed hope that gaming-dedicated blockchains like Immutable, Ronin, and Mythos will eventually produce a game that appeals to the masses. “I’m optimistic that we will see, from one or more of those major protocols, those game-changing software titles that appeal to the masses and bring new people in. But it just takes time,” Wasinger added.
Despite significant investment and high expectations, blockchain gaming has struggled to meet its potential, according to industry leaders like Kori Leon and Randy Wasinger. However, they remain optimistic that with a focus on community building and continued development, Web3 gaming can eventually achieve broader adoption and success.
