Web3 needs gamer-centric games for mass adoption – Websea exec

According to Herbert Sim, chief executive officer of hybrid cryptocurrency exchange Websea, the Web3 game is looking for more player-centric projects on a streamlined platform to strengthen mainstream adoption.

He told Cointelegraph in an exclusive interview:

“Game Fi projects must put gamers at the forefront. At Websea Labs, we are looking at projects that enhance user experience and gaming. eSports is the biggest thing in the market, even in crypto.

Web3 games have been widely criticized for their gameplay and user experience. Many early Web3 games simply grew in popularity based on the economic incentives they promised users, despite having a poor overall user experience.

However, today's web3 games must have a sustainable economic model and a user-centric approach, says Sim:

“Building sustainable economics is critical to the longevity of projects. So we only invest in projects that have longevity and put players at the forefront.”

Both the GameFi and decentralized finance (DeFi) sectors are seeing institutional demand, Sim says, which will bolster mainstream user adoption:

We focus on GameFi and DeFi as all institutions are looking at this. Capital is pouring into these sectors, along with a number of technological innovations that are critical to driving market growth and maturity.

Websea's ecosystem investment institution, Websea Labs, launched a $100 million fund at the end of March dedicated to inventing GameFi and DeFi projects. Websea Labs launched in October 2023.

According to Sim, the growing list of institutional participants strengthens the acceptance of both sectors.

“More institutional involvement [in GameFi] It helps to increase awareness and loyalty. So with this many users and developers are joining the game. […] We've seen this happen for both GameFi and DeFi.

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Web3 games are becoming “playable”.

A variety of AAA-rated Web3 games are coming out of hiding in 2024, offering a gaming-focused user experience with high-definition graphics for the first time.

Among the most anticipated games is Solana-based space exploration role-playing game (RPG) Star Atlas developed on the popular Unreal Engine 5.

With Star Atlas in progress, more than 335,000 X followers are awaiting the game's release, which will come in separate modules over the next five years.

Demonstrating the interest in Web3 games, Web3 RPG game Big Time grossed more than $100 million in its first six months of preseason without selling a single token, according to a March 28 X post by Mario Naufal. wrote:

“This is a game changer, proving that web3 gaming is not just the future – it's inevitable. After all these years of traveling the world about the use cases surrounding Web3 Gaming, I'm glad it's all finally coming to fruition!”

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