The web3 gaming space is poised for major growth in 2024 according to experts like John Woo of Avalanche. Woo predicts next year will see real business use cases and adoption emerge, beyond just institutional investment.
Key areas to watch:
Gaming and in-game economies: Chains like Avalanche are already seeing transaction growth from web3 games like Pulsar. Features like in-game assets and marketplaces create stickiness. Sandbox is exploring ideas like hiring creatures to join you on quests.
Connecting brands with customers: Consumer brands could leverage NFTs to maintain engagement once someone purchases an item. This has major implications for acquisition costs and lifetime value.
Tokenization of assets: From loyalty points to digital representations of physical goods, tokenization unlocks new capabilities.
Major web3 games to watch:
Honeyland (on Solana): Over 1M Instagram followers and promised big news coming at their 2024 keynote
Claynosaurz (Solana ecosystem): Digital dinosaurs going viral on social media
Flow/Dapper Labs: Fast Break game will push millions of transactions and bring web3 gaming mainstream
The runaway viral success of "Palworld" also demonstrates the market potential, despite early web3 titles failing to achieve mass adoption so far. With the right formula of gaming innovation and mainstream accessibility, 2024 could be the breakout year for blockchain-based games.
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