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Gaming in Web3
The traditional gaming industry has a major issue with ownership, and blockchain is capable of fixing some things. In this article we explore a variety of projects paving way in the Web3 gaming space.
Context - Gaming
TL;DR:
Gaming companies have many issues and there’s a gap that seems like blockchain will fill.
A major issue within the traditional gaming industry is ownership.
People grind for hours to get some special sword with a blue glow around it, and in the vast majority of cases, they can’t do anything with it outside of that game.
Gaming companies will reserve the right to do whatever they want with your character, items, and your account in most circumstances. Lost characters, deleted items, and permanently banned accounts, all erase a player’s progress, and you don’t have to look hard online to find these stories.
Traditional gaming companies usually do not support secondary market sales for real life money. As such, there’s always some level of risk when players engage with third-parties and a middle-man to facilitate transactions.
Web3 gaming gives ownership back to the players. It gives value to time spent recreationally. There are people in third-world countries making what is, respectively, a decent living, supporting their families, because of Web3 gaming.
The Web3 gaming industry is still in its infancy. There are none that have broken through into the mainstream gaming audience yet.
Content - Upcoming games and platforms you should know about:
Illuvium ($ILV)

As at 9/04/2023
What is it?
Illuvium is, undoubtedly, the most anticipated video game set to release in the Web3 space.
People believe it will be the first triple-A game to leverage blockchain and utilize a tokenized in-game economy to break through into the mainstream audience.
Why bullish?
Opportunity
Their token $ILV is currently at a relatively low market cap(currently approx. 150M market cap). They reached their all-time high at the end of 2021 (approx. 1.17bn market cap).
Considering the game itself is yet to launch, if you believe it will reach a fraction of the hype that it had at the end of 2021, it’s at bargain prices now.Scale
The team is vital to any project.
Leading Illuvium is Kieran Warwick, a legitimate entrepreneur with a proven track record, that is scaling the project in the right way. Consider these points:Focus is on scaling the team in-house and ensuring not to outsource any significant amount of work;
Team has reached over 80 people(in-house, this does not include external contractors or outsourced teams) since inception over 18months;
Roadmap is realistic and complete transparency is at the center of their operational ethos;
Split marketing effort into DeFi with their (major)partnerships, and the mainstream gaming audience; and
Community first approach - $ILV acts as a governance token to their DAO where the community gets to engage.
Partners
Illuvium has partnered with the biggest names in the Web3 gaming industry including, Yield Guild Games, Immutable-X, and BGA(’Blockchain Game Alliance’), among others.
They have a number of successful and well-respected projects in the industry investing privately in Illuvium. These include founders from Aave, 1Inch, Synthetix, Quantstamp, ParaFi, Sandbox, and even the CEO of Bitcoin.com...
Needless to say, coupled with their success in 2021, they have enough capital to sustain their vision, and enough capacity to tackle any issue before them.
Treasure DAO ($MAGIC)

As at 9/04/2023
What is it?
Treasure DAO is a Web3 gaming ecosystem based on Ethereum. Think what Gala is trying to do, but better.
Creating a web3 gaming ecosystem in this context involves a community of game developers, where the Treasure DAO funds, help them create, and publish games on their platform.
Why bullish?
The eye test (branding)
Treasure passes the eye test. There has been serious effort placed upon the branding of Treasure DAO, you see that when you come across any content produced by them.
If the company knows how to present itself and market itself, then the only thing left to be high quality is the products, and they’re getting that done too.The games
Web3 gaming ecosystems will be littered with games. The number of games a platform has does not matter at all.
What matters is the quality of the games.
There are two games powered by $MAGIC that have become popular, these are ‘Smolverse’ and more recently, ‘The Beacon’.
The Beacon is arguably the best game in Web3 out right now.
If they continue to support games of that level of quality, there’s no doubt they’ll see much larger success.
Think about where $SAND and $MANA were at, they are subpar compared to what this platform is producing.The vision
Treasure wants to be the ‘Nintendo’ of Web3 gaming, and they’re off to an incredible start.
They’ve incorporated a DAO to support their direction, which is very appealing in the long term given their audience.
Gaming companies get more negative press than they do positive. The fact that $MAGIC is giving power to an audience that, traditionally, rarely gets their voices heard, is very bullish.
In a year they’ve acquired 100K+ active users, 267K unique MAGIC holders, and doubled their growth quarter-on-quarter. In what was a bear market, this is great growth.
Myria ($MYRIA)

As at 9/04/2023
*Note - newly released tokens often don’t have an accurate M-CAP display
What is it?
Another gaming ecosystem based on Ethereum.
Similar to Treasure DAO, Immutable X, Gala Games, it is simply a platform to enable Web3 games to thrive.
They have their own NFT marketplace, wallet, and gaming platform for people to engage with.
Why bullish?
Recently released
The nodes and tokens have been recently listed for public sale. This means that you’re early enough to get on it before the web3 mainstream audience.
If you missed the train at Gala, and you can’t justify the $80K USD to purchase a node over there, $MYRIA could be your saving grace. Especially considering that $MYRIA is already a quarter of the way to Gala games in terms of following.Traction
At the end of 2022, the Myria community stands at 300,000 active members, and 1,000,000+ registered users.
They only have a handful of games launched on the platform, and none have blown up in popularity yet, but they have over 200 in development happening in the background.Opportunity
Myria has not had any breakthrough games or projects released yet.
With such a big following, and so many projects being developed, it’s more likely than not that one of those 200 odd games will release and reach some level of success. This will inevitably bolster the platform’s value.