GameFi Executives Envisions Crypto Games to Onboard’ Tens of Millions’ to Web3 Sector 

In recent stakeholder engagement, top-level executives in Web3 games anticipate that blockchain games will bring on board tens of millions to the crypto industry. Based on the exciting events that have impacted the commercial release of blockchain-powered games, the executives forecast that more users will join the Web3 sector.

A statement from the co-founder of Animoca Brands, Yat Siu, demonstrated that 2024 would be a historic year for the crypto sector, where more people will join the industry. A recent report from DappRadar indicated that from October, the number of active players in Web3 games rose to 1 million.

Web3 Games to Attract More Clients

Based on the DappRadar report, Siu remains optimistic that the number of players in Web3 games will increase to 100 million in 2024. The executive confirmed that developers are working around the clock to release exclusive games.

Siu admitted that most game studios were working to complete the Beta and Alpha tests for the Web3 games by next year. He acknowledged that the expected games under development will increase mobile game activity.

With the changes in the gaming sector, the executive envisages that the number of active players will rise from 10 million to 100 million by next year. He anticipates that the less intensive games will attract a large audience.

Citing a recent study that demonstrated that Asia has the largest population of Web3 players, Siu anticipates that Asian countries will be the critical leaders in the gaming industry. The official admitted that Asia’s crypto-friendly environment has supported the growth of GameFi and nonfungible tokens (NFT) technologies.

Future of Web3 Games

Additionally Siu noted that the Asian gaming industry outshines the US, which lacks clear regulations on crypto assets. In support of Animoca Brands official, the chief executive of Ambrus Studio, Johnson Yeh, anticipates that the resurfacing of the bulls in the crypto market will support the growth of Web3 games.

The CEO anticipates that the bull might be active in the market starting next year. This implies that if the bulls escape hibernation stage, then Web3 games will receive massive adoption.

The official forecast  that games like Counter-Strike Series with free-to-play features and skin options will receive massive acceptance. Yeh argued that skin features in gaming are powered by smart contracts to support the verification processes.

Elsewhere, the co-founder of Sandbox, Sebastien Borget, envisioned that user-generated content (UGC) in Web3 games would be the next big thing next year. The executive noted that the UGC features on conventional games such as Roblox and Fortnite have attained the desired growth stage.

Significance of Comprehensive Regulation on Digital Assets

Furthermore Borget confessed that the decentralized platform exhibits unique characteristics, such as the rewarding system that encourages developers to continue creating projects in the Web3 sector.

Even though the regulators have stepped up to regulate the crypto market, Yeh argued the restrictive measures levied on engaging celebrities and brand ambassadors in crypto-related projects would be extended to other regions outside the United States.

He argued that the unwelcoming regulation in the US has forced many Americans to believe that crypto was a scam. Other English-speaking states have embraced this misconception about crypto being a scam.

Despite the anti-crypto move in the US, Yeh noted that most countries in the Middle East and France have joined the ongoing nonfungible token (NFT) craze. With this exciting changes Yeh projects that celebrities will return to promoting crypto projects if the US provides comprehensive regulation on crypto assets.

However, this time, the celebrities engaged in crypto promotion will be more careful in signing endorsement terms and conditions to uphold compliance with the law. Based on the multiple legal charges facing prominent public figures, Yeh argued that celebrities would be unwilling to promote crypto-affiliated initiatives due to complex compliance requirements.

Yeh noted that for the NFT project to attain the desired success, crypto firms offered an exclusive reward to the celebrities. With the exciting development in the crypto sector, Yeh anticipates that celebrities will play a critical role in promoting crypto projects in the upcoming bull run.

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