Web3 games need to shift their focus from “play-to-earn” to “play-and-earn” in order to attract a wider audience of mainstream crypto users, according to Gracy Chen, the managing director of Bitget, a trading platform. Chen believes that Web3 games in 2024 should prioritize gameplay to appeal to Web2 gamers. Many Web3 games have been criticized for their lack of user-centricity and focus solely on offering crypto incentives to players. However, the industry is now starting to shift towards more player-centric games, thanks to the involvement of Web2 game founders in the crypto gaming space, Chen explained in an interview with Cointelegraph. While Chen is optimistic about the prospect of player-centric games, she cautioned that most current GameFi projects are of low quality and have high valuations. She advised investors to only support games that have finished products and prioritize the needs of the users. Despite the lack of player-centric projects, Web3 games accounted for over 30% of all decentralized application activity in the first quarter of 2024, according to a report by DappRadar.
Bitget urges Web3 gaming to transition from play-to-earn to a more inclusive approach of play-and-earn.