The Web3 gaming industry faces challenges, but has huge potential

The Web3 gaming sector has recently experienced fluctuations in funding. Between February and March, monthly investments ranged from $60 million to $100 million, reaching a peak. However, this figure is only 41.35% of the trading volume in the first quarter of 2022. Compared to other crypto assets, the market value of Web3 games has seen a more significant decline since the beginning of this year, dropping by 33%, while other crypto assets have only decreased by 14%.

Despite facing challenges, Web3 games still demonstrate immense potential. The sector remains active, accounting for 30% of all decentralized application activity, with 2.1 million daily active wallets. As technology continues to advance and user experience improves, Web3 games are expected to become a significant driving force in the development of the crypto industry.

Recently, a Web3 game named Off The Grid (OTG) has attracted widespread attention. It is reported that the game was developed by Gunzilla Games, took 5 years to complete, and involved an investment of 90 million USD, created by a team of 300 people. This level of investment even exceeds the budgets of some well-known game projects.

Cyberpunk-style Battle Royale Game

OTG is currently launching an early access version on multiple mainstream gaming platforms. The game inherits the mechanics of classic battle royale games while incorporating cyberpunk elements to provide players with a richer experience. In addition to conventional firearms, players can also use jetpacks and interchangeable mechanical limbs to achieve a flexible and varied combat style.

The game map design is grand, claiming to be the largest battle royale map currently. Players can freely shuttle between high-rise buildings, experiencing exciting aerial movement. OTG also innovatively introduces the "Extraction Combat" mode, where players need to collect and decode special items, and upon success, can convert them into digital assets on the blockchain.

It is worth noting that OTG does not have a traditional in-game store. All items that enter the economic system and peer-to-peer market are obtained and minted on the chain by players through in-game mechanisms, ensuring the scarcity and true ownership of the items.

Can it successfully impact the mainstream market?

The "semi-finished" version of OTG has received a warm response on mainstream gaming platforms, becoming the top free game. According to statistics, the game's viewing time exceeded 2 million hours in the first week of its launch, with trading volume surpassing 50 million and the number of independent wallets exceeding 5.6 million.

In addition to the high quality of the game itself, Gunzilla Games' marketing strategy has also played a significant role. They invited several well-known game streamers to live stream gameplay, successfully generating a lot of attention and subsequently attracting more content creators to participate.

However, it remains uncertain whether OTG can maintain this level of popularity. The current market environment is not particularly favorable for Web3 games, and with a large number of new games expected to be released in the coming months, competition may become even more intense.

Other Web3 Games to Look Forward To

In addition to OTG, several other highly anticipated Web3 games are set to launch:

• EVE Frontier: A space survival game set in a dystopian world.
• MetaCene: A blockchain-based massive multiplayer online role-playing game set in a post-apocalyptic world.
• Avalon: Developed using Unreal Engine 5, integrating multiple blockchains, inspired by the legend of King Arthur.
• Big Time: A multiplayer action role-playing game that combines fast-paced combat with an open economic system.

As more high-quality Web3 games enter the market, the entire industry is expected to welcome new growth opportunities. These games may not only have a positive impact on the Web3 and traditional gaming markets but could also become important vehicles for promoting the adoption of cryptocurrency technology. Although challenges remain in the short term, industry insiders generally hold an optimistic view of the medium to long-term development prospects of Web3 games.