🕹 What’s up Web3 Gaming?

Gm, this is the doodhwala, the only crypto newsletter that’s as much fun as a perfect headshot on Call of Duty. 💀

Speaking of Call of Duty.

Games are HUGE in web3 right now! 🐀Not as big as crypto newsletters, but pretty darn big. 🐘

And they’re very different than your traditional:

🔫 shooting someone in COD🚗 modding a car in NFS⚽️ scoring a bicycle kick in FIFA

Yeah, hey’re hella different.

Today we’re gonna explain why. 💡

Actually, we’re not gonna do it. We’re gonna ask a friend!

Meet YouMeI.

Man spends 25 hours a day playing web3 games.

He’s collected everything from Axies to Pokemons (wait, aren’t they the same?!) And he's also got his own newsletter, check it here.

Today he’s taken over the doodhwala to explain to ya’ll👇

Why Web3 Gaming Is Gonna be Huge!

LFG 🔥

Who doesn't like playing games?

From PUBG, Candy Crush, and Valorant, to Call of Duty all of us have spent countless hours on the screen. 💻

Countless hours and money was spent inside these mini-worlds.

Sometimes it was to reach level 100, sometimes it was to get back at that a-hole from Romania who knifed you from the back.

I’LL GET YOU #DREAMSLAYER158 🤬🤬🤬

BUT:

Do you have the proof to back your claims?Or any financial compensation for the time you wasted spent?

Is that level 100 Charizard with the Blast Burn and Amulet Coin really worth anything?

Nothing.

Right? 😶

What if we said that all this will change with web3 gaming? 🤔

Yup, and the numbers around web3 gaming are HUGE, even in 2022 which was a pretty 💩 year for crypto.

Let's look at how web3 gaming went from 👶🏻 to 🦸🏻‍♂️ in 2022:

1️⃣ Investment

• Investments in web3 gaming in 2021 - $4 billion

• Investments in web3 gaming in 2022 - $10.2 billion

The investment part looks good, but is anyone actually even playing those games?

2️⃣ Transactions

  That is 80% of all blockchain transactions.

3️⃣ Wallets

The number of unique wallets using Web3 games is at 5.88 million and nearly 2x the size of its nearest competitor, DeFi wallets at 2.86 million

That’s right gamers 1️⃣ degen traders 0️⃣#burn 😮

4️⃣ Volume

Before you accuse us of cherry-picking (or doodh-picking) chegg this:

The volume of gaming transactions for the year is $6 million which is a fraction compared to DeFi at $1.61 billion

#doubleburn 😮

Yes, the numbers look crazy. 🤪

All of the graphs we showed till now were for the Web3.

So what about Web2?

Do you know how BIG gaming actually is right now? 🤔

It is bigger than the movie and music industries combined. 🤯

Yes, you heard that right!

The gaming industry is estimated to be worth $200 billion!

The opportunity right now is massive. Just imagine the number of doodh glasses we can buy with that kind of money! 🤑

What is the difference between Web2 and Web3 gaming?

There is a 🚩 common misconception 🚩 that a game must be play-to-earn in order to be classified as Web 3. ⛔

👉 Is it a desired characteristic? (like having the freshest doodh)Yes.

👉 Is it absolutely necessary? (like adding a bit of paani to doodh)No.

Okay, so what TF are the characteristics of Web3 gaming? 👇

👕 Ownership of in-game assets

The core of web3 gaming is when users are actually able to own the assets.

Consider that you bought a skin for $100 in Fortnite. Does it mean that you own it now?

No. The game's developer retains the ownership rights to it. They can revoke it any time they wish. 😏

Similar to how mom locks the Playstation during exam time 😭

It also includes all the items you:

• forge

• craft

• hunt, and

• win (sometimes)

⛓ On-chain supply

Remember the limited edition skin your game developers talked about? ⌛

What proof do you have that there weren’t more skins of that type introduced to the game after the sale ended?

🥷

Nothing right?

Sometimes the difference between knowing and not knowing can be worth $150,000. 🤯

In Web3 gaming, people will be able to verify the assets on the chain and know the supply and source of each one. ✅

Sort of like the GPS tracker parents put on their children in movies. (are you 100% sure you were not tracked as a child?)

📢 In-game Voting

Many times, developers take steps that are not appreciated by the player base (like removing curse words in GTA!!)

These steps are either focused on:

• making short-term gains, or

• changing game economics

Due to this ☝️ players leave the game, and the game dies 💀.

Sometimes the community, not the game devs knows what’s best for the game.  Web3 gaming would give the community a say in how the game evolves

This can be done through governance tokens or by establishing councils.

Something which we never had as a child. A say in anything. 🥲

💰 The hard-to-master "P2E"

Accomplishing the play 2 earn dilemma can be termed the "holy grail" of web3 games.

A game where everyone can potentially make a living out of playing games. 😍

This would mean monetizing the time spent in the game and giving players the ability to:

→ Trade in-game assets and coins for real-life fiat money ←

If a game satisfies some or all of the conditions ☝️ above, it’s pretty much a Web3 game. 👍

Now addressing the elephant in the room

Anushka Sharma's lip jobWeb3 meetups' gender problemThe doodhwala's terrible humor issue

The problems with web3 games 😬 😬 😬

The BIG Problems with web3 games

1️⃣ Tokenomics

Tokens are the in-game currency, and tokenomics is the economy surrounding them 🌐

Tokenomics is like the 10th STD board exams. Every game needs to get through this to become “play2win”

And how do they do this? 🤔

Managing the demand and supply of the tokens and ensuring everyone is happy.

2️⃣ Where’s the FUN at?

NEWSFLASH!

Games need to be FUN.

There needs to be proper:

🎬 storylines🤖 graphics💰 reward systems⏫ leveling

...and much more 🏎 🔪 ⚽️

Til now, Web3 games wanna just make the early adopters and devs rich.

And this resulted in buggy + sub-par games that had to be shut down quicker than a shop that sells Covid masks  🥱

I mean would you play candy crush if it crashed every 10 seconds and had only 10 levels?

This is how my mother would react:

3️⃣ Processing speed

The idea behind making high-resolution games sounds fantastic 👏

However, we also need the systems to support it. It’s kinda important

After all it takes time + computing power to mint transactions on the blockchain ⛏️

If a game wants a million players = It needs to have a transaction speed of at least a few million per second. 😅

Although we have made considerable progress, we still require some more innovations in this space. 🪜

One workaround for this could be to host some data off-chain. This would lessen the load on servers significantly. 🤷

4️⃣ Profit anticipation

Ask yourself the question: Why are you subscribed to the doodhwala? I mean what’s wrong with you?

Okay, real question: Why and when do you open a game?

You might be opening a game after a long day at work, college, or school.

When you play the game, you take a break, relax, and transport yourself to another world 😎

However, if we throw real-life money into this picture, the whole thing might not look so pleasant 😟

The game will go from a relaxing activity to a tense activity like reading crypto newsletters.

You will:

• count the money you lost in each match

• stress over the return on investments in a the nightmare that is Microsoft Excel

• spend time to recover whatever you lost in the process

😬

Now would you wanna do that?

Who tf is Web3 games for then?

If Web2 games are for the angry teenager who just wants to blow shit up, steal a car, or score a freekick, who are Web3 games for anyway?

The truth is, web3 games are for everybody, but we have a long long way to go before we see a Web3 game that is widely accepted.

But the change will come. 🤞

Some years down the line, web3 gaming will be replaced with just "gaming."

Till then we gotta just try out a few web3 games and hope it improves.

Here are some cool web3 games:

🗡 Ember Sword: a medieval-styled sandbox MMORPG game.🥷 Big Time: a multiplayer action warrior like RPG game.🚀 Star Atlas: a space-based MMORPG that has raised millions of dollars to date.🥊 Ai_Arena: a multiplayer fighter based game that leverages AI for fighting.🐹 Illuvium: a Pokemon-style game wherein you need to explore, capture, and collect illuvials.

Check them out. ☝️

And check out YouMeI, and his newsletter. 

Give him a 👋 and let him know the doodhwala sent ya. ☺️

Let us know what you think 👇

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.