The internet has evolved significantly since its debut in the early 1990s. From static web pages to the development of social media and dynamic applications, the digital world has been continually changing. Likewise, with the introduction of Web3 gaming platform, we are now on the verge of yet another significant revolution.
Web3, often known as the third generation of the World Wide Web, marks a transformation in how we use and interact with the internet uniquely. It envisions a decentralized and open web that empowers individuals and gives them greater control over their data. While, Web3 gaming platform introduces blockchain technology to online transactions and data storage, providing openness, security, and trust.
In this blog, we will look at the fundamental distinctions between Web2 and Web3 and the great opportunities that Web3 gaming platform provides for entrepreneurs wisely. Next, we will talk about decentralization, user experience, data ownership, and how emerging technologies like artificial intelligence and coupled with blockchain are impacting the future of the Internet.
What is Web 2?
Web2, or the second generation of the internet, is distinguished by user-generated content, usability, and participatory culture. And, this period witnessed the growth of social media platforms, blogs, etc. And, the e-commerce sites that generate revenue through user engagement and data collection. Mostly, Web2 gaming platform data is housed on corporate-owned central servers, and they largely control access to this information.
What is Web3?
Web3 is the next stage of internet growth, stressing decentralization, blockchain technology, and token-based economy. It aspires to give people more control over their data via technologies like blockchain gaming and play-to-earn networking. Web3 apps run on decentralized networks, or blockchains, reducing control over any organization conversely.
Comparison between Web 2.0 and Web3 Gaming Platform
Equally important, the primary distinction is a decentralized framework against centralized entities with nearly complete control. However, if this were the sole change, Web 3 games would have already gained widespread adoption.
| Topic | Web 2 | Web 3 |
| System structure | A centralized system where data is stored in a centralized server. | Decentralized systems spread information across devices, creating a more balanced and secure network. |
| Content Ownership | Creators lose control and ownership of their material after it has been published to the server. | End users have total control and ownership of the material. |
| Censorship | A central authority or government may filter and regulate content. | A self-governing online system in which the owner controls the fate of the content. |
| Speed | Data transport in Web2 is quicker and more stable since data is stored on a single server. | Data transport in Web3 could be more active owing to the decentralized approach. |
| Accessibility | Users will find Web2 more accessible because it is compatible with every recent web browser. | Most consumers find it less accessible owing to a lack of browser integration. |
| Server run time | The system can often go down due to a single failure at the centralized server. | Systems rarely cross down because they run on several extraordinary devices. |
| User identification | Users can be automatically recognized using OAuth or email-password authentication. | Users are identifiable by their anonymous wallet address, which contains no personal information. |
| Data tracking | Companies or governments can track the data and personal information. | They can’t track the data because they don’t need personal information. |
| Technology used | AJAX, JavaScript frameworks, HTML5, and CSS3. | AI, ML, Blockchain, semantic web, and decentralized protocols. |
| Currency | Government-issued traditional currencies. | Encrypted digital currencies, such as cryptocurrencies. |
| Cost | Web2 applications are cost-effective for both developers and users. | dApps are too expensive to develop. |
“The market is predicted to increase at a 100% CAGR from $1.5 billion in 2021 to $50 billion in 2025, with 1 million to 10 million gamers daily.”
While Web3 gaming has huge potential for widespread success, there are valid reasons why some experts disdain this approach to the web and believe it will never take off. Notwithstanding, others believe Web3 might live and easily replace it.
The main difference between both applications is their decentralized nature.
1. Decentralization
Web2 games are centralized servers host by a single entity (company), whereas Web3 applications run on decentralized networks that distribute data among several nodes. This not only improves security and resilience to censorship. But on the contrary, it fosters a more democratic internet in which users have full control over their data.
2. Data Ownership
Web 3 data is personalize user experiences without express agreement for frequent use. In contrast, Web3 gaming apps enable users to own and govern their data via cryptographic keys. This move returns authority to people, possibly altering how internet firms exploit their information consequently.
3. Interoperability
Web3 gaming platform using open protocols and decentralized blockchains, as long as creating a more interoperable environment. Hence, the categorized Web3 gaming applications may connect without needing middlemen, allowing for seamless information and value exchange.
4. Transparency
Blockchain, the foundation of many Web3 apps, provides unprecedented transparency. Every transaction and data exchange is recorded on a blockchain, available to anybody. On the other hand, the contrasts sharply with the opaque operations of many web apps, which conceal user activity and data management procedures from public view.
5. Tokenization
Web3 adds an economic layer to the internet with tokens that may represent any asset or utility. Indeed, Web 3 games tokenization allows for new revenue models and better matches the interests of users and developers than the ad-supported models common.
Key Characteristics of Web 3 GameFi Platform
The semantic web refers to a web that understands humans. Web3’s search and analytic capabilities would focus more on comprehending word meanings and contexts. The semantic web is superior in interpreting facts, figures, and keywords.
1. Artificial intelligence: By combining AI with natural language processing, Web3 apps can discriminate information like people, resulting in quicker and more relevant results. Henceforth, they grow increasingly sophisticated to suit the demands of consumers. For example, in Web3 games, AI would avoid human-caused corruption, such as modified data or biased product ratings.
2. Connectivity: Semantic metadata enhances the connectivity and ubiquity of information in Web3 games. Because every device is connected to the internet, the data access via numerous applications, and services can be utilized anywhere without limitation.
3. 3D Graphics: Web 3 technologies include spatial computing and 3D graphics. Web3 games might help to reimagine graphics technology and improve interactions with the metaverse consequently.
4. Blockchain and smart contracts: Web3 games includes blockchain technology. As a result, we may create a nearly hard-to-hack database, allowing us to add value to the material and items we can theoretically own. It makes a trustless society by using smart contracts, which eliminate middlemen, and all transactions are based on data from the DLT. It transforms Web3 games into a strong instrument with the ability to improve the world.
What’s Next for Web3 Gaming Platform in 2024?
Despite the massive Web3 play-to-earn explosion around the metaverse, we are still waiting for a genuine blockchain gaming bull run. However, the emphasis has evolved from Play to Earn to Play to Yield, focusing on exciting and engaging games with long-term in-game benefits.
Web3 gaming platform may represent the internet’s future, based on its current trajectory. Web3 gaming platform has tremendous promise for furthering decentralization and providing a more user-centric experience.
The foundation for play-to-earn Web 3 technology is fast evolving, so we may see increased interoperability, interaction, and data transfer between blockchain networks. The future of Web3 gamesmay include the widespread acceptance of decentralized apps that provide decentralized banking, and other solutions.
However, Web3 has significant problems in various areas, such as operational complexity, user experience, legislation, and security, before use. It is increasingly likely that these two will merge, resulting in more decentralized and user-friendly technology.
“According to ResearchAndMarkets, the global Web3 market size is expected to grow by 47.1 percent from 3.0 billion U.S. dollars in 2020 to 21.0 billion U.S. dollars by 2025.”
Now that more investors and professional game creators are becoming interested in blockchain and gaming, it may only be a matter of time before we see Web3 games akins.
Conclusion
Web2 vs. Web3 game creation has distinct advantages and downsides. While other games are accessible, they fall short of the depth of involvement possible with Web3 games.
Finally, it is up to you as a developer or designer to choose which technique is ideal for your project depending on its objectives and intended audience. Whatever path you choose, understanding the distinctions between Web2 and Web3 game creation can help you build experiences that people like in the metaverse!
Do you want to provide the most immersive and engaging gaming experience for your players? CoinFantasy allows you to play games that integrate Web3 technology quickly. And then, the CoinFantasy platform includes cutting-edge features such as user-generated content, decentralized economics, virtual worlds, and more!
Frequently asked questions
1. What are the differences between Web 2.0 and Web3 games?
Web 2.0 and Web3 vary in several ways. Web 2.0 is centralized, user-generated content-focused, and platform-based, whereas Web3 is decentralized, focusing on blockchain, smart contracts, and user control. Both include user engagement and data exchange but have distinct underlying systems and philosophies.
2. What is the status of Web3 evolution?
Web3 is now in the development and experimental stages. And, it is expect to dominate the internet in the next decade.
3. Why is Web3 games used?
Invest in gaming like Web3 addresses the constraints by allowing decentralized, secure, and trustless apps. It uses blockchain, smart contracts, and distributed networks to give consumers greater control over their data, increase privacy, and enable peer-to-peer interactions.
4. Is Web3 games replacing Web2?
Web3 is replacing partially. Instead, it marks the next stage in the growth of the internet. Web3 brings new technology and methods to the internet as we know it. Web3 challenges the dominance of centralized platforms with blockchain-based decentralized apps (dApps).
5. Is CoinFantasy a Web 3 gaming platform?
Yes, CoinFantasy is a Web3 game platform. We aims to incorporate blockchain technology with gaming, resulting in a decentralized and immersive game experience. CoinFantasy allows participants to participate in fantasy games, predict results, collect awards, and securely hold in-game assets on the blockchain.
