The Evolution of the Gaming Environment in the Web 3.0 Era
The gaming business has been revolutionized by technological development over the last few decades. The gaming industry is on the threshold of another giant leap, and tech enthusiasts are ecstatic about this development. The transition of the gaming industry from free-to-play to play-to-earn will drastically alter the industry’s dynamics.
In 2021, the gaming business made close to 160 billion dollars in revenue. In the present state of the gaming business, people invest time and energy into playing games without earning a substantial cash return. They purchase several in-game products, develop their characters, reach the zillionth level, etc., but cannot directly monetize their talents or assets in the game.
Gaming is now one of the most prominent and fast expanding businesses globally. Technology improvements have made games more accessible and engrossing than ever before, enticing individuals from all walks of life. According to a study of data by Mordor Intelligence, the gaming business was worth USD 198.4 billion in 2021 and is projected to reach USD 339 billion by 2027 at a CAGR of 8.94 percent over the following five years.
The Transformation of the Gaming Industry From Web 2.0 to Web 3.0
Similar to the evolution of money, the internet has undergone various transformations since its inception in the 1980s. The first version
