Polygon co-founder Sandeep Nailwal believes that Web3 gaming will become a catalyst for mass cryptocurrency adoption in the coming years.
In an AMA (Ask Me Anything) session held on Reddit, Sandeep Nailwal, one of the co-founders of the Polygon Network scaling network, spoke about the role Web3 games will play in bringing cryptocurrencies to the masses.
According to Nailwal, speculation in the crypto market has been both a blessing and a bane for the global expansion of cryptocurrencies, attracting high-risk investors and driving innovation while simultaneously generating distrust and volatility.
However, hope is not entirely lost, as Nailwal believes that Web3 games are a real-world use case of blockchain technology with the potential to drive mass adoption of cryptocurrencies in the coming years.
Nailwal made these remarks while answering a question about genuine blockchain use cases during the AMA session.
Web3 games, the biggest opportunity for cryptocurrencies
Last year, Web3 games received an average of 1,2 million players, according to data from DappRadar.
While this number is small compared to the number of players in the traditional gaming industry, which is around 40% of the world's population, blockchain and Web3 offer new opportunities and possibilities for gamers, which according to Nailwal, has driven the creation of a large number of new projects and motivated the entry of more investors.
In 2022 there were about $2.000 billion in funding for Web3 games, highlighted the co-founder of Polygon Network.
Investor interest reflects the potential of Web3 games, which can attract a large number of new users to the crypto ecosystem by allowing them to create, own and monetize their own digital assets. In this way, Web3 games could become one of the biggest drivers of cryptocurrency usage and adoption globally.
What benefits do Web3 games bring?
Web3 gaming can bring huge benefits to both users and cryptocurrencies by creating a new entertainment paradigm based on decentralization, ownership and freedom.
These games have the potential to attract new audiences and users, serving as a gateway for more people to learn about, use and benefit from cryptocurrencies. Likewise, Web3 games can encourage the creation of new platforms, protocols and tokens that adapt to the needs and preferences of players, bringing diversity to the crypto industry.
Finally, the unique and personalized experiences these games offer their players allow for adding more value and utility to cryptocurrencies.
Polygon expands its vision towards on-chain gaming
Nailwal took advantage of the AMA to highlight how the vision of Polygon Network has changed.
Beyond being a solution to increase Ethereum scalability, Polygon has become an inclusive and sustainable ecosystem of blockchain solutions. The Ethereum sidechain also has expanded its vision to Web3 games, signing a alianza with Web3 game development platform Immutable in March this year to accelerate industry development and adoption.
Together with Immutable, Polygon will become a space that enables faster, easier, and less risky game building. The results of the partnership between Polygon Network and Immutable will begin to be seen in the next 6 to 18 months, when some top-tier Web3 games are released to the market. “It would be very interesting to see if some of them are able to crack the cryptocode,” commented the co-founder of Polygon.
Polygon developers are pushing a new ZK rollup, called Immutable zkEVM, compatible with the Ethereum Virtual Machine (EVM), to make it easier for digital game studios and builders to create high-quality games that support true ownership of assets.
More opportunities for players
Nailwal has a broad vision for the future of Web3 games. According to him, these games not only offer a more immersive and decentralized gaming experience to gaming communities, but also have the potential to create new opportunities to improve the economic and social conditions of gamers.
Continue reading: Are video game players more focused on making money than playing games?
