The Evolution of Web3 Gaming: A Bear’s Perspective

The Evolution of Web3 Gaming: A Bear’s Perspective

The gaming industry has undergone significant changes over the years, and Simon Davis, the co-founder and CEO of Mighty Bear Games, has witnessed and embraced these transformations firsthand. With almost two decades of experience in the gaming industry, Davis never anticipated that he would end up working in this field. However, a serendipitous opportunity as a game tester led him to discover his passion for gaming, and he has never looked back since then.

Mighty Bear Games initially focused on creating traditional games when it was launched in 2017, but in 2022, the company made a pivot towards blockchain technology. In 2023, they released Mighty Action Heroes, their first Web3 gaming title. Davis believes that the rise of NFTs and the concept of player-owned and operated economies will shape the future of gaming. He envisions a dominant business model for live service titles revolving around digital property rights, as virtual worlds cannot exist without them. This shift opens up new possibilities and opportunities for the industry.

Davis predicts that mobile gaming will dominate the gaming landscape due to geographical factors. Countries with limited development of traditional payment systems, such as Indonesia and Brazil, have a growing interest in crypto and Web3. These markets rely heavily on mobile devices, making mobile gaming the most accessible platform for users. However, Davis expresses skepticism towards high-end Web3 games, as the current market demand may not support them. He believes that developers should prioritize creating games that cater to the mobile-first mindset of these regions.

The success of Web3 gaming does not hinge on a single silver bullet solution but rather through the cumulative effect of multiple improvements. Davis emphasizes that developers need to focus on making the Web3 experience as seamless and user-friendly as possible. It should be as easy to use as any Web2 platform, even for those who lack technical knowledge and are not familiar with managing their private keys. Davis sees promising developments on the horizon that will help bridge this gap and make Web3 gaming more accessible to the masses.

Similar to how gaming faced controversy in the past, both crypto and Web3 have received their fair share of skepticism and criticism. Davis acknowledges that the negative reputation is partly warranted due to the presence of bad actors exploiting the lack of regulation in the space. However, he believes that firsthand experiences with crypto and Web3 applications can change these perceptions. Introducing people to NFTs through platforms like Reddit without explicitly highlighting their blockchain nature has proven successful in piquing interest and encouraging further exploration. Davis views this approach as a stealthy onboarding strategy that can engage users and generate long-term retention.

Davis highlights the potential of ERC-6551 tokens, which combine the functionality of a 721 token with the capabilities of a smart contract wallet. This innovation enables assets to communicate directly with each other, creating new possibilities for character evolution and customization within games. Developers can attach new assets and logic to these tokens without necessitating core updates. Moreover, Davis sees the potential for reputation management and social identity integration through the use of soulbound versions and proof-of-work achievements. By creating more secure and versatile assets, ERC-6551 tokens pave the way for enhanced gaming experiences.

Davis recognizes that there is still a long way to go before Web3 gaming reaches its full potential, but he remains optimistic about the future. He draws parallels to the early days of the internet when setting up a home connection required technical expertise, compared to the user-friendly experience we have today. Davis believes that as the Web3 space continues to evolve, it will become more accessible and intuitive for users of all backgrounds. By addressing the challenges of user education and simplifying the onboarding process, Web3 gaming has the potential to revolutionize the industry.

Brian Quarmby, another advocate of the Web3 revolution, discovered crypto in 2013 and has been an ardent believer in decentralization ever since. Currently residing in Melbourne, he sees the transformative power of NFTs in the lives of artists. Quarmby sees NFTs as a game-changer in the art world, offering new opportunities for artists to monetize their work and gain exposure.

The gaming industry is embarking on an exciting journey into the realm of Web3. As developers like Simon Davis and enthusiasts like Brian Quarmby continue to push the boundaries, the potential for groundbreaking innovations and unique experiences in Web3 gaming becomes increasingly apparent. With each iteration, Web3 gaming brings us closer to a future where ownership, creativity, and accessibility converge to shape a more inclusive and immersive gaming landscape.


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