Future of Web3 Gaming: Insights from Immutable (IMX)'s Robbie Ferguson
Peter Zhang Jun 06, 2024 12:15
Immutable (IMX)'s Robbie Ferguson discusses the state and future of web3 gaming.
The gaming industry is at a pivotal moment, with web3 gaming promising to revolutionize monetization and distribution models. According to Immutable (IMX), over 330 games are leveraging their tech stack to create innovative gaming experiences.
The Magic Moment for Web3 Gaming
Robbie Ferguson, co-founder and President of Immutable, emphasizes the transformative potential of web3 gaming. Unlike traditional gaming, where players' efforts do not translate into real-world value, web3 allows gamers to own and trade digital assets. Ferguson highlights the success of Guild of Guardians, which received a 4.9/5 rating on the app store and over 30,000 downloads within two days of launch. This success indicates a growing acceptance of web3 gaming.
Ferguson shared, "I've been reading Twitter all the last week around the Guild of Guardians launch. There are so many comments around people saying, 'I hated web3 gaming. I never got it.' But he's been playing Guild of Guardians, he's created a passport account, and he's completely addicted."
Aligning Incentives Between Players and Publishers
One of the primary challenges in the gaming industry has been the misalignment of incentives between players and publishers. Historically, new monetization models have often come at the expense of gamers. Ferguson points out that web3 gaming aims to correct this by aligning the interests of both parties through cooperative ownership. "This is the first time the system is trying to align the incentives of players and publishers," he says.
Overcoming Barriers to Mainstream Adoption
Despite its potential, web3 gaming faces significant barriers to mainstream adoption. Ferguson identifies two main obstacles: infrastructure readiness and content readiness. However, he believes these challenges are being addressed. Products like Immutable Passport are making onboarding easier, and the influx of funding into web3 gaming is starting to yield high-quality games. Immutable Passport, for instance, boasts over 1 million signups, facilitating seamless player onboarding.
"To be clear, web3 isn't a genre. It's not a vertical; it's a 'horizontal'. Every multiplayer game should become web3 over time," Ferguson asserts.
The Future is Bright for Web3 Gaming on Immutable
Ferguson is optimistic about the future of web3 gaming. He predicts that the gaming market, currently valued at $150 billion, could grow to trillions as players gain true ownership of their digital assets. He mentions, "When players have the option to sell, you have brand new monetization mechanisms, secondary marketplaces, royalties. But you also will take the size of gaming from $150 billion to trillions of dollars."
Immutable is at the forefront of this transformation, with a robust content pipeline featuring high-quality games like Pixelmon, Treeverse, Illuvium, Guild of Guardians, Space Nation, and Blast Royale, which has 5 million installs. "In the next weeks and months, we have some of the biggest games in the world launching," Ferguson adds.
As web3 gaming continues to evolve, the industry is poised for significant growth, driven by innovative companies like Immutable. The future of gaming is not just about playing but owning and trading digital assets, creating a more engaging and rewarding experience for gamers worldwide.
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