![](https://mpost.io/wp-content/uploads/1673376844144-96x96.jpeg)
Printed: September 18, 2023 at 5:29 am Up to date: September 18, 2023 at 5:32 am
![](https://mpost.io/wp-content/uploads/cropped-1539887318295-96x96.jpeg)
Edited and fact-checked:
In Transient
The Web3 Gaming Summit 2023 offered a platform for Web3 gaming lovers, business leaders, builders, traders and world gaming communities to converge and discover the way forward for the Web3 gaming ecosystem.
The Web3 Gaming Summit 2023, held from September eleventh to twelfth in Singapore, marked a pivotal second within the Web3 gaming revolution. Co-organized by ABGA and DeGame, this official gaming sub-event of Token2049 attracted over 4,000 registered individuals, surpassing expectations with an precise attendance of over 4,300 attendees.
The summit offered a platform for Web3 gaming lovers, business leaders, builders, traders and world gaming communities to converge and discover the way forward for the Web3 gaming ecosystem.
![](https://mpost.io/wp-content/uploads/unnamed-4-2.jpg)
The opening day witnessed The Web3 Gaming Hackathon 2023 finals and award ceremony, collectively hosted by ABGA, Klaytn, Iskra and CESS, concluded efficiently on September 11, 2023, on the Sands Conference Heart in Singapore.
The first goal of this hackathon was to harness the potential of the gaming business by means of blockchain expertise, bridging the hole between Web2 and Web3, and selling the expansion of the gaming ecosystem.
Over 100 recreation initiatives competed fiercely all through the hackathon, with the highest 10 video games presenting their excellent challenge outcomes on the ultimate day. The competitors decided the final word winner, who obtained an $80,000 USD reward, together with further assist from hackathon companions Google Cloud and Slowmist.
The esteemed panel of judges comprised notable leaders from the Web3 business, together with Uno Lee (VP of Enterprise & Governance at Klaytn Basis), Jessie Dai (Co-founder & COO of CESS), Blue (CTO of SlowMist), Min Xue (Accomplice at Foresight X), JT Legislation (Accomplice at IVC), Aria Zhang (Funding Accomplice at Zonff Companions), Evans Huangfu (Accomplice & CIO at Arcane Group), Kiwi (Head of Analysis at OKX Ventures), Pawn (CTO of NuLink), Alex Cooper (Neighborhood Supervisor at Footprint Analytics), Invoice Byun (CEO of Encoding Labs), Simon Lee (Recreation Centre Government Director at Iskra) and Junyoung Park (Recreation Enterprise Director at Iskra).
Exploring the Way forward for Web3 Gaming
With the theme “New Period For Gameplay,” the summit aimed to chart the course for the Web3 gaming business’s future by discussing modern instructions, methods, and instruments. The occasion commenced on the Marina Bay Sands Resort in Singapore on September eleventh, with morning classes that includes shows and panels in regards to the Linea gaming ecosystem, organized by Linea, DeGame, and Particle Community.
Within the afternoon, ABGA and collaborators Klaytn, Iskra, and CESS hosted the hackathon finals, showcasing top-tier gaming merchandise from the High 10 groups. Concurrently, business leaders from each Web2 and Web3 sectors shared their views on Web3 gaming. Following partaking shows, the summit culminated within the announcement of winners and a grand award ceremony.
![](https://mpost.io/wp-content/uploads/unnamed-2-5-3.jpg)
Along with the extraordinary competitors, the occasion featured insightful speeches from specialists in varied fields:
Astin Han, Enterprise Supervisor of the Klaytn ecosystem, mentioned Klaytn’s dedication to supporting Web3 builders and launched the Ignite on Klaytn (IOK) program, designed to reinforce the Klaytn ecosystem’s one-stop resolution.Ben Colayco, CFO of Iskra, highlighted Iskra’s function in increasing the worldwide Web3 gaming market by launching an built-in Web3 gaming neighborhood platform.Jessie, Co-founder and COO of CESS, defined how CESS empowers Web3 video games to realize “digital immortality,” making certain the longevity of Web3 video games.Eefy Lin, Buyer Answer Architect of Google Cloud APAC, unveiled Google Cloud’s initiatives in constructing a blockchain node engine and BigQuery public datasets for multi-chain meta-analysis.Blue, CTO of SlowMist, showcased SlowMist’s providers, together with blockchain safety audit, consulting, monitoring, and AML/CFT compliance options.Pawn, CTO of NuLink, shared NuLink’s collaboration with GameFi companions to offer safe privateness safety options for Web3 video games.Paul Solntsev, Head of Cointelegraph Accelerator, mentioned the theme of accelerating GameFi adoption and offered steerage for Web3 startups, emphasizing Cointelegraph Accelerator’s assist for Web3 startups.
Following these insightful speeches and spectacular demonstrations by the highest 10 groups, the winners of the 2023 Web3 Gaming Hackathon had been introduced:
First Prize –
Legend of Arcadia: A multi-chain, free-to-play card recreation combining a modern gaming expertise with the GameFi 2.0 idea.
Second Prize (x2) –
SERAPH: Integrates blockchain options whereas prioritizing gameplay and the enjoyable of looting nonfungible tokens (NFTs).Planet Hares: A metaverse ecosystem platform primarily based on leisure tradition that empowers Web3 initiatives.
Third Prize (x3) –
Tearing Area: Aiming to stability conventional Web2 and Web3 gaming with excessive monetary attributes.Enviornment of Religion (AOF): A cutting-edge MOBA recreation centered round a tournament-centric ecosystem.Mirror Planet: An immersive, location-based Web3 Metaverse recreation that integrates blockchain expertise.
ABGA’s Selection –
Lumiterra: A multiplayer, open-world survival crafting recreation with an unlimited world to discover and conquer.
Klaytn’s Selection –
Mhaya: Shaping the way forward for GameFi by providing unprecedented worth to players and traders.
Iskra’s Selection –
TownStory: A Web3 social simulation recreation that permits gamers to construct their cities and commerce NFTs in an open world.
CESS’s Selection –
Sui Recreation: A revolutionary gaming ecosystem powered by blockchain, aiming to turn into the STEAM of Web3.
![](https://mpost.io/wp-content/uploads/unnamed-3-4-2.jpg)
With the conclusion of this two-month-long hackathon, heartfelt congratulations had been prolonged to the highest 10 competitors winners. The occasion was additionally enriched by the profound insights shared by business leaders, making it knowledgeable and in-depth gathering that additional fueled the expansion of Web3 gaming.
Insights from Trade Luminaries
The summit’s second day commenced with an enlightening speech by ABGA’s CEO, Kevin Shao. He offered priceless insights into the Web3 gaming market, emphasizing the rise of cross-chain video games and the potential advantages of AIGC for recreation growth. Kevin highlighted the function of AI in enhancing recreation growth effectivity and mentioned the challenges of making AAA video games within the present market.
The convention featured a sequence of speeches by distinguished figures within the Web3 gaming area:
Sébastien, COO of The Sandbox, mentioned NFTs and digital asset possession amongst Technology Z, emphasizing neighborhood assist for creators. To assist this rising creator tradition, The Sandbox constantly launches new creations, video games, instruments, and absolutely backs the neighborhood. He additionally offered a number of avenues and instructions for neighborhood progress within the creator area.Aloysius Chan, CEO of AI Meta Membership (AMC), examined the necessity for safety measures in opposition to hackers in recreation growth. He identified that past a sure profitability level, recreation firms must determine whether or not it’s value implementing costly detection and encryption instruments to thwart hackers. He added that with the assistance of AI, blockchain expertise in Web3 video games will be realized with out integrating GameFi.Hugo Church, Head of Enterprise Growth at Brilliantcrypto, introduced the gaming world of Brilliantcrypto and launched the idea of “Proof of Gaming.” He predicted that other than players, NFT lovers would even be eager about proudly owning a gem or jewel on Brilliantcrypto.
Kordan Ou, CEO of KryptoGO, mentioned challenges and options in transitioning from Web2 to Web3 gaming. He proposed viable options like enhanced blockchain integration, improved consumer expertise and accessibility, a strong monetary ecosystem, and steady neighborhood and societal engagement to reinforce the gaming expertise and consumer retention.
Steve Good, CEO and Co-founder of Goals Quest, showcased the upcoming open-world action-adventure RPG recreation “Origins: The Fall of Azoria.” He additionally revealed that to raised assist the gaming neighborhood, Goals Quest has established a brand new NFT infrastructure suitable with a number of chains and a brand new dynamic market.
Carol Wang, Co-founder and CFO of MarsProtocol, addressed centralization points in Ethereum and potential options. She famous that liquidity staking at the moment accounts for 43% of the Ethereum staking market, with Lido dominating with a 74.2% market share. Amazon holds practically 60% of Ethereum node distribution, making node centralization one of many largest challenges Ethereum faces.
Lester Li, founding father of DeGame, mentioned progress methods and the evolving Web3 gaming infrastructure. He identified that because of the emergence of devoted blockchain recreation engines, elevated blockchain effectivity, diminished on-chain transaction prices, and the deployment of key applied sciences like account abstraction and associated EIPs, the Web3 gaming infrastructure is constantly evolving. He additionally acknowledged the Web3 gaming market is quickly rising, and within the subsequent two years, extra conventional video games will flip to blockchain video games.
Hara, CEO of Jasmy Labs, launched the Jasmy platform and its goals. He additionally revealed that Jasmy has launched a grant program to assist the development of recent neighborhood initiatives. Presently, Jasmy is constructing the Ethereum-based Layer 2 Jasmy Chain to additional improve scalability and constantly present high quality providers.
Jake Liu, CFO of Planet Hares, explored extending recreation lifecycles by means of Web3 mechanisms. He recommended that by means of well-designed token economics (Play to Earn and decentralized governance), builders can construct a Web3 gaming metaverse to reinforce the sport’s lifecycle. He additionally really useful designing a dual-token mannequin to forestall the dilution of governance tokens whereas sustaining the steadiness of utility token costs.
Henry Ferr, CMO of MetaCene, highlighted the significance of enjoyable in Web3 video games and launched MetaCene’s modern gaming platform. He launched MetaCene and talked about that the product is devoted to integrating Web2 and Web3 options to create an modern gaming platform that caters to the mass market.
Karen Kao, CMO of BoxTradEx, launched BoxTradEx, a one-stop Web3 gaming portal. The corporate asserted that its Guild ToolBox is a complete resolution for recreation guilds to handle crypto tokens, NFT belongings, add members, and create guild occasions.
Jae Kim, BD Director of Luniverse, mentioned the advantages of multi-chain infrastructure for blockchain video games. He launched that as a node service supplier, Luniverse’s multi-chain Web3 API permits builders to simply construct decentralized functions and deploy them throughout a number of blockchain networks by means of a unified interface.
Yawn, Co-founder of STEPN, shared insights on constructing hyper-socialized Web3 video games. He famous that the following section of Web3 is constructed on hyper-socialization, and the following “holy grail” for video games might want to deal with the infinite lifecycle of NFTs and cut back the entry obstacles to zero.
Shukyee, CMO of Polyhedra, introduced some great benefits of zkBridge in powering Web3 video games. She highlighted some great benefits of zkBridge, together with trustlessness, safety, effectivity, decentralization, scalability, and universality. It can additionally have the ability to join varied Web2 and Web3 techniques.
Sami CHLAGOU, the co-founder and CEO of Cross the Ages, mentioned constantly providing worth to gamers within the collectible card recreation “Cross the Ages.” He highlighted that the transition from Web2 to Web3 within the gaming area would pose vital challenges. Recreation builders should prioritize consumer expertise, maintain the gameplay easy, and craft immersive gaming experiences for his or her viewers.
Roundtable Discussions and Way forward for Web3 Gaming
The summit additionally featured 4 roundtable discussions with business leaders, addressing essential matters in Web3 gaming:
Navigating the Way forward for Web3 Gaming: Infrastructure to Neighborhood
Hassan Ahemd, Coinbase’s Singapore Nation Director, noticed that we presently reside in Web3 gaming’s inaugural section. He anticipates the succeeding section will revolve round devoted recreation wallets and novel NFT requirements. However, video games should attain playability as a prerequisite earlier than considering tokenization and monetization.Lennix Lai, OKX’s Chief Enterprise Officer, supplemented this angle by emphasizing that the following developmental stage will focus on crafting infrastructure conducive to the widespread enjoyment of informal and hyper-casual video games. The foundational layer should prioritize game-friendliness.Minh Ho, Coin98’s BD Director, underscored that blockchain represents merely one side of recreation infrastructure. Whereas Rollups could also be trending, the crux lies within the seamless integration of components like NFTs into video games, as not each element necessitates an on-chain presence.Sanjay Popli, Co-founder of Cryptomind, added to the dialogue saying that the upcoming gaming section received’t pivot round tokens however fairly, round NFT-related merchandise and different gaming initiatives. Nevertheless, he mentioned these undertakings should deal with three pivotal challenges: rectifying inefficiencies in recreation economics, navigating short-term worth growth (characterised by an inflow of customers however an unsustainable trajectory), and surmounting income technology hurdles.
Which Recreation Style is The Greatest Match for Blockchain Gaming?
Specialists explored the complexities and entry obstacles of blockchain video games, emphasizing the significance of consumer understanding and expertise.
Vera, a particular council member at Apecoin DAO, harassed the paramount significance, from a developer’s perspective, of comprehending the viewers and crafting a token financial system tailor-made to the Web3 gaming neighborhood. Nevertheless, an excellent larger emphasis must be positioned on sustaining focus and deepening consumer insights.Dreamer, Co-founder of Defi Kingdom, highlighted the intricate nature of blockchain video games, which poses formidable entry obstacles for newcomers to the world of Web3 gaming. He envisions the burgeoning value of digital collectibles as a possible catalyst for attractive gamers into the realm of Web3 video games.Lucaz Lee, CEO and Co-founder of Affyn, contended that Web3 video games have wrought substantial transformations upon the business panorama. To foster adoption, recreation design should prioritize the enhancement of the shopper expertise.William Guo, CEO and Co-founder of PlayEstates, acknowledged the enduring presence of card assortment video games and their play-to-earn (P2E) mechanisms out there. Nevertheless, collaborative efforts are crucial to handle the scalability challenges inherent to Web3.Mary Ma, Co-founder and CSO of MixMarvel, shared an optimistic perspective on Web3 video games. She asserts that quite a few rising Web3 applied sciences allow customers to partake in Web3 gaming by means of their social or e mail credentials, expressing confidence within the eventual embrace of Web3 video games by a broader Web2 consumer base.
Is There Nonetheless Demand From VCs for Web3 Gaming?
Panelists mentioned the potential for exponential progress in Web3 gaming and the challenges of buyer acquisition and valuation.
Kelvin Koh, Co-founder and CIO of The Spartan Group, contends that builders can anticipate exponential consumer progress by using tokens successfully. Nonetheless, he perceives prevailing market sentiment as pessimistic and advocates for a practical method.Jason, Founding father of Folius Ventures, underscorec the escalating buyer acquisition prices throughout the gaming area. He notes that sure Web2 video games have erroneously built-in random Web3 components, a method he deems unsustainable from an funding standpoint.James, Enterprise Capital Director at Animoca Ventures, noticed an inflow of extremely expert recreation builders venturing into the Web3 area. His counsel for Web3 recreation initiatives searching for funding is to keep away from overvaluation and achieve a complete understanding of the ecosystem.Wesley, Founding father of Rootz Labs, positioned substantial emphasis on the ecosystem and stack layers. He shared insights into Rootz Lab’s latest funding in a novel repute system and advises crypto recreation initiatives searching for funding to exhibit endurance, flexibility, and a nuanced comprehension of the distinctions between the crypto neighborhood and the gaming business.
How Public Chains Construct and Help Gaming Ecosystems?
The dialogue centered on enhancing user-friendly experiences in Web3 video games, the function of DAOs, and enterprise capital assist.
Alvin Kan, Asia Regional Director of Sei Basis, advocated for a extra user-friendly method to the Web3 gaming expertise. He anticipates a future the place video games seamlessly share belongings comparable to NFTs and possess a centralized market, bolstering interoperability amongst them.Mr. Walter, Web3 Gaming Director at BNB Chain, underscored the potential of DAOs in shaping video games, notably throughout the realm of esports, relating to governance. Nevertheless, he urges warning, stating that the whole transparency of DAOs renders initiatives solely public. He suggests considering a hybrid mannequin that permits for some developer selections to stay inside.Hazel Zhang, Funding and Financing Director at AELF, shared an optimistic outlook on video games and extends enterprise capital and challenge funding alternatives. However, she asserts that not all video games are appropriate candidates for implementing a DAO.John Cho, Vice President of Growth at Klaytn Basis, harassed the significance of supporting consumer acquisition for builders. He envisions a transition of conventional 3A recreation studios and standard recreation lovers into the Web3 area, whereas gamers and builders with a heightened concentrate on crypto components will discover the realm of GameFi.
ThreeDAO Introduced Creator Coaching Camp
Throughout the summit, ThreeDAO launched its Creator Coaching Camp, with over 50 creators set to obtain steerage from Web3 business leaders. This initiative goals to foster the expansion of Web3 creators and additional enrich the Web3 gaming panorama.
![](https://mpost.io/wp-content/uploads/unnamed-1-1-1.jpg)
The Web3 Gaming Summit 2023, co-hosted by ABGA and DeGame, concluded efficiently, leaving a profound affect on the business.
The occasion offered invaluable insights and steerage, reaffirming the boundless potential of the Web3 gaming business. ABGA and DeGame mentioned the businesses are optimistic in regards to the business’s future and stay up for continued innovation in Web3 gaming.
Disclaimer
Any information, textual content, or different content material on this web page is offered as normal market data and never as funding recommendation. Previous efficiency will not be essentially an indicator of future outcomes.
The Belief Challenge is a worldwide group of stories organizations working to ascertain transparency requirements.
Tech Editor at Metaverse Submit | Information Scientist / Analyst | Speaker & Media Mentor
Extra articles
![](https://mpost.io/wp-content/uploads/1673376844144-96x96.jpeg)
Victor Dey
![](https://mpost.io/wp-content/uploads/1673376844144-96x96.jpeg)
Tech Editor at Metaverse Submit | Information Scientist / Analyst | Speaker & Media Mentor