Development of the Web3 Gaming Industry: Challenges and Opportunities Coexist

The Web3 gaming sector experienced a funding peak between February and March, with monthly investments ranging from $60 million to $100 million. However, this figure only accounts for 41.35% of the trading volume in the first quarter of 2022. Since the beginning of 2024, the market value of Web3 games has dropped by 33%, while other crypto assets have only decreased by 14%.

Despite facing challenges, Web3 games still hold enormous potential. Currently, Web3 games remain an active area, accounting for 30% of all decentralized application activity, with 2.1 million daily active wallets. As technology continues to evolve and user experience improves, Web3 games are expected to become a significant driving force in the crypto space.

Recently, a new Web3 game called Off The Grid(OTG) has attracted industry attention. It is reported that the game development team consists of 300 people and has been in development for 5 years, with a total investment of up to 90 million USD.

Cyberpunk-style Battle Royale Game

OTG has launched a beta version on multiple platforms and has quickly become popular in the gaming community. The game combines classic battle royale mechanics with cyberpunk elements, providing players with a richer experience. In addition to traditional firearms, players can also use jetpacks and mechanical prosthetics for more agile movement and diverse abilities.

The game map design is grand, allowing players to shuttle between tall buildings for quick aerial movement. OTG has also innovatively introduced the "Extraction Battle" mode, where players need to collect and extract cubes that represent blueprints for weapons, accessories, or prosthetics. After a successful extraction, these items will be minted on the blockchain.

The game does not have a traditional in-game shop; all items entering the economic system are obtained and minted by players through in-game mechanisms. This design ensures the scarcity of items and true ownership, bringing more dynamism to the game economy.

Can it impact the mainstream market?

The "semi-finished" version of OTG has created a sensation on the gaming platform, with trading volume exceeding 50 million and independent wallets surpassing 5.6 million. The game's viewing time in the first week exceeded 2 million hours. This success is largely attributed to its marketing strategy, inviting well-known game streamers for trial live broadcasts.

However, whether OTG can maintain its popularity in the long term remains questionable. Currently, there are no clear signs that the gaming market will be particularly active in the fourth quarter. In addition, several new games are expected to be released in the next six months, which may intensify competition and distract users' attention.

Several noteworthy upcoming Web3 games include:

• EVE Frontier: A single-fragment survival game set in a dystopian space world.
• MetaCene: A blockchain-based massively multiplayer online role-playing game set in a post-apocalyptic world.
• Avalon: Developed using Unreal Engine 5, inspired by the legend of King Arthur.
• Big Time: A multiplayer action role-playing game on PC platform.

Conclusion

As more and more crypto games enter the mainstream market, the industry is expected to experience significant growth potential. The performance of new games like OTG may have a positive impact on the Web3 and traditional gaming markets. This type of content is still regarded as one of the best promotional channels in the crypto space, and a cautiously optimistic outlook can be maintained for the short to medium term.