Sandeep Nailwal, co-founder of Polygon, estimates that Web3 games will become a catalyst for mass adoption of cryptocurrencies in the coming years.
In an AMA (Ask Me Anything) session held on Reddit, Sandeep Nailwal, one of the co-founders of the scalability network Polygon Network, spoke about the role that Web3 games will play in bringing cryptocurrency to the masses.
According to Nailwal, speculation in the crypto market has been both a boon and a bane for the global expansion of cryptocurrencies, in that it attracts high-risk investors and drives innovation, while generating mistrust and volatility.
Hope is not entirely lost, however, as Nailwal sees Web3 gaming as a real use case for Blockchain technology with the potential to drive mass adoption of cryptocurrency for years to come.
Nailwal made the remarks while answering a question about genuine Blockchain use cases during the AMA session.
Web3 Games, Cryptocurrencies Greatest Opportunity
Last year, Web3 games hosted an average of 1.2 million players, according to data from DappRadar. Although this number is small compared to the number of players in the traditional video game industry, which is close to 40% of the world’s population, the Blockchain and Web3 offer new opportunities and possibilities for gamers.
According to Nailwal, it has spurred the creation of a large number of new projects and brought in more investors. In 2022 there was close to $2 billion in funding for Web3 games, the Polygon Network co-founder noted.
The investors’ interest reflects the potential of Web3 games, which can attract a large number of new users to the crypto ecosystem, by allowing them to create, own and monetize their own digital assets. Thus, Web3 games could become one of the biggest drivers of cryptocurrency usage and adoption worldwide.
Polygon Expands its Vision toward Chain Games
Nailwal used the AMA to highlight how the vision of the Polygon Network has changed. Beyond being a solution to increase the scalability of Ethereum, Polygon has become an inclusive and sustainable ecosystem of Blockchain solutions.
Allied with Immutable, Polygon will become a space enabled to build games faster, easier and less risky. The results of the alliance between Polygon Network and Immutable will begin to be seen in the next 6 to 18 months, when some of the top-of-the-line Web3 games are released to the market. “It would be very interesting to see if some of them are able to crack the cryptocode,” said the Polygon co-founder.
More Opportunities for Players
Nailwal has a broad vision for the future of Web3 gaming. According to him, these games not only offer a more immersive and decentralized gaming experience to gaming communities, but also have the potential to create new opportunities to improve the economic and social conditions of players.
All in all, t is clear that the Blockchain gaming industry is still in its infancy, and there is still a long way to go before the full power of Blockchain technology is appreciated.
To reap the benefits of Web3 games, developers must be willing to create compelling games that put the player experience first. At the same time, gamers must also be willing to trust Blockchain technology, and jump into a new way of gaming.
Can Web3 games drive mass adoption, or will the greatness of the games be lost in the Web3 hype? Only time will tell.
By Audy Castaneda
