Around 40% of the world's population will play games this year, with total spending approaching $200 billion. Web3 wants a piece of the market. The first generation of games were criticized for being dominated by the play-to-earn model, so the question for developers now is what games should look like.
In July of this year, I wrote that veterans from the gaming industry agree that a sustainable financial model is missing in play-to-earn games such as AxieInfinity. When it comes to genres, many of them believe that online games have the ability to bring people into the web. The genre, which has given rise to epic titles with flourishing virtual economies, could benefit from having in-game assets as token to enable true user ownership.
One country has the ability to drive this transition.
During his three years with The9 and seven years with Blizzard, as well as his time with nWay, the man argued that China has the best teams in the world.
He jumped on the web3 bandwagon. Over the past year, he has been working on a space-themed online game called Space Nation, which is being developed by a team that includes Tony Tang, a veteran game director and film director. A total of 40 million dollars was spent on the game.
China is the most efficient and cost-effective in the world when it comes to core development, which is why the team is spread across several countries.
The country's game developers have overtaken their western counterparts on other fronts.
Would China's web3 plays live up to user expectations? There are more urgent problems that need to be solved in the infancy of the game. China needs a better economic system and a more solid technical infrastructure in order to stay ahead of the competition.
If NetEase decided to go into web3 gaming, it could be a threat to the rest of the industry.
Neither NetEase nor Tencent has ventured into the world of decentralization. As a former Electronics Arts executive pointed out, big corporations tend to be more cautious about pursuing a new industry, especially one with a reputation for being Ponzi-like.
China is a latecomer in the game. Homegrown developers didn't have a chance of beating the top games imported from foreign companies, such as Stone Age, Cross Gate, Legend of Mir, and World of Warcraft. Chinese firms had an opportunity to learn from foreign games, because foreign games needed help with Localization and Publishing.
A well-designed economic system and hands-on community management are key to the success of the project. Chinese studios gained insight into economic and social design through working on product operation and publishing for foreign games. Most of their early-day hits were online games, because they quickly turned around and used that knowledge.
He says that Chinese people are always at the forefront of developing new business models. China pioneered the free-to- play model.
A genre of games that can see hundreds of thousands of players online at the same time requires a solid infrastructure. China's game operators were trained to avoid crashes. In the early days of the internet in China, we had to keep our IT and network stable. Western studios didn't have to worry about that because they were focused on the grand plans.
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