The long-term value proposition of Web3 games

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Surviving the current downturn and the Web3 gaming market is a tough order. And it makes sense to absorb some lessons from veterans in the blockchain gaming market. And one of the things to remember, they said, is that Web3 games have long-term value propositions.

For instance, they offer the promise that you’ll own something and continue to own it thanks to blockchain verification as we enter a world where, thanks to things like AI, nothing is as real as it seems to be.

I thought I’d take a moment to catch up on our recent GamesBeat Next event and share such insights from one of our panels from our October 23-24 event for folks who didn’t see it. The panel included moderator Neil Young, executive chairman of N3twork Studios; investor at Edenic; and a leader at Forte, the Web3 gaming infrastructure company. The panelists also included Josh Williams, CEO of Forte; Matt Wolf, head of Web3 gaming at Zynga; and Johnny Casamassina, chief creative officer at Plai Labs.

Young pointed out that the Web3 game industry still needs to reach its “zero to one” moment where games can become better for players through ownership, which is what Web3 gaming can deliver via non-fungible tokens on the blockchain.

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Young has been building games at the edge of innovation for a long time, including when he launched Majestic in 2001 as a sci-fi thriller where you had to uncover a government conspiracy in an alternate reality game played on