CEO of SpaceCatch, Stanislav Lepka, says the development of Web.3 has enough potential to put us at the edge of a new gaming era.
Video Game Industry
The analytical platform Statista estimates that the value of the video game industry as a whole will exceed $365 billion in 2023. The gaming industry is expanding rapidly and is anticipated to continue expanding annually. By the end of 2027, the gaming industry may have reached or exceeded $480 billion, according to data.
At the moment, mobile games make up the majority of the gaming market, and both their value and profits are increasing rapidly annually. It is a significant number that mobile games currently account for approximately 85 percent of the gaming market.
However, this opens up a plethora of excellent opportunities for investment.
Potential for Web3.0 in the gaming industry
The vast majority of mobile games run on Web 2.0 at the moment. As a result, game developers enjoy a monopoly position thanks to these games’ closed gaming economy. Also, this means that most of the time, players don’t own the in-game items they have, so it’s against the rules to try to sell or make money off of them. The accounts of players who break these gaming rules could be frozen or completely blocked.
Web3.0, on the other hand, breaks this strict policy completely and makes the gaming economy accessible to all players. This indicates that the player is the sole owner of any in-game items they acquire during the game. As a result, they can freely sell or make money off of them. Blockchain and NFT technologies, which create a favorable and user-friendly environment for such transactions, make all of this possible.
But there are still very few Web3.0 games on the market, making the gaming industry an even better place for big investments and big returns. In just a few years, the market for games based on blockchain and NFT technologies, according to several analysts, will be worth several tens of billions of dollars.
The SpaceCatch game is the first to combine the idea of a traditional mobile game with cutting-edge technologies like NFT, augmented reality, and blockchain. This blend does not just permit players to find and experience a totally new gaming experience yet in addition makes the ways for the universe of Web3.0.
SpaceCatch game has an open gaming economy, wherein the player is the elite proprietor of their things, which they can uninhibitedly adapt or utilize in any case. Play-to-Earn and Move-to-Earn are also incorporated into the game, allowing players to earn real money without having to make an initial investment.
Stanislav Lepka, SpaceCatch’s chief executive officer, has also commented on the game and the enormous potential of Web 3.0, stating, “We are on the edge of a new gaming era.” The game will likewise have its own token called CATCH, which will address superior cash and capability as a store of significant worth. This will be all potential on account of cautious tokenomics.