Web3 Gaming: From Play-to-Earn to Casino-Style
1min read Web3 gaming projects are increasingly shifting their focus towards casino-style games, a trend that is reshaping the landscape of blockchain-based gaming. This shift is driven by a growing acceptance that the primary audience for these games is crypto enthusiasts, often referred to as "degens," rather than traditional gamers.
Kate Irwin, the editor of The Drop newsletter, has observed this trend firsthand. She notes that Web3 gaming projects are moving away from traditional video games with optional crypto elements and are instead targeting crypto traders who may not have a background in gaming. These projects are creating games that are essentially trading platforms with a thin gaming layer on top.
This shift is not surprising, given the industry's potential overestimation and the lingering caution among non-crypto users following the collapse of FTX. Traditional gamers, according to Irwin, are not interested in games with NFT elements or crypto integration. Therefore, it makes sense for Web3 gaming projects to cater to an audience that is more receptive to their offerings.
One such project that has made this switch is THNDR. It is moving away from play-to-earn projects and focusing more on casino-style games. This shift is a reflection of the broader trend in the Web3 gaming industry, which may be a sign of things to come.
The impact of this trend on venture capital funding is yet to be seen. However, increased VC activity in this sector could indicate a growing interest in Web3 gaming projects that focus on casino-style games. As the industry continues to evolve, it will be interesting to watch how this trend shapes the future of blockchain-based gaming.
