Binance Research: Web3 Games Will Drive Further Adoption of Blockchain Technology
Full disclaimer: This platform includes third party opinions. We do not endorse their accuracy. Digital asset prices can be volatile. Do your own research.See full terms here.
Web3 games will likely drive further adoption of and education around blockchain technologies, Binance Research said in a new report published on Thursday.
The report, titled 'Gamefi Tokenomics - Deep Dive', said Web3 games will likely have the same effect on blockchain technologies that Solitaire did for the computer in the 1990s.
"We see significant benefits to users and developers. Ownership over your assets, the ability to earn rewards while playing, and decentralized governance power are just a few," authors Stefan Piech and Mac Naggar wrote.
Fun and entertainment remain key elements to consider with crypto games, the authors noted, adding that tokenomics should add to this rather than distract from it.
The report notes that a key issue play-to-earn games are facing is sustainability, since a majority of players are putting too much focus on the ability to earn tokens rather than enjoying the game itself.
"As such, we see that while there benefits to a two-token model, it isn’t an underlying necessity for games to be successful," the authors said. "We rather see that truly fun games can design sustainable tokenomics with a single token alone."
View full text