GameFi Officials Forecast ‘Tens of Millions’ to Enter Web3 in 2024

Johnson Yeh and Yat Siu, Gaming Studio founders, claim that most people will come to Web3 in 2024, with blockchain games being the reason.

Web3 gaming executives claim that the crypto market hype publicity and the ‘commercial unveiling’ of numerous significantly expected blockchain games will possibly onboard ‘several gamers’ to Web next year.

In an interview, Yat Siu, Animoca Brands’s cofounder, said that 2024 will be a growth year with regard to introducing people to Web3. DappRadar data shows that over the previous three months, an estimated one million or more special active wallets have played Web3 games every day.

Industry Leaders Predict Web3 Sector to Attain Desired Growth

Nevertheless, Siu is confident the figure might rise significantly in 2024. He said that a majority of the gaming titles about to be unveiled were in the alpha or beta phases in 2022 and last year. Currently, they are set for commercial unveiling next year.

Siu anticipates most activity in the casual Web3 gaming space, which includes mobile games. According to his postulation, a significant number of gamers will embrace these forms of less-intensive games.

Further, Siu anticipates Asia to ‘assume control’ owing to its greater acceptance of GameFi technology as well as nonfungible tokens compared to the U.S. He also said that Asia’s crypto guidelines are quite ‘open and welcoming.’

According to Johnson Yeh, the chief executive officer and founder of Ambrus Studio, a gaming company, Web3 gaming can rise and have immense adoption with the aid of the bull market that is anticipated to start next year.

He said the most significant potential lies in the free-to-play space, selling skins. Additionally, he highlighted the free-to-play Counter-Strike series as a model that involves skins occasionally selling for mid-six figures.

Yeh claimed that the skins are on a smart contract and verifiably unique. As such, it enables the streamers, celebs, and e-sport players to co-develop and bring the skin proceeds together with enthusiasm.

In the meantime, Sebastien Borget, The Sandbox’s cofounder, told a media resource that he anticipates user-generated content (UGC) to be a significant theme in Web3 gaming in 2024.

Borget said user-generated content has already flourished on traditional gaming platforms, for instance, the Unreal Editor for Fortnite and Roblox. The former permits people to make games and assets within Epic Games’ flagship title.

Additionally, decentralized platforms are particularly well-positioned to give power to developers and recognize them for their contributions via Web3 technology.

Celebrities to Join Web3

Several brands and celebs are insulted for approving crypto-associated projects during the previous bull market. However, Siu claims the pattern will persist, but not in the United States at the moment. In case U.S. citizens believe crypto is a scam, the English-speaking Earth believes it is a scam.

However, when one moves to the Middle East or regions such as France, they realize people are mad at NFTs. Siu also claimed that celebrities will come back in large numbers following legal clarity in the United States.

Yeh revealed that celebs will be more careful with their endorsements, and high-profile stars will not be ready to take risks. Additionally, he said that most celebrities supported the nonfungible tokens to acquire fast money.

Despite celebs’ power being expected to reduce in the coming bull market, it will still have a significant role.

Apple Virtual Reality Headset Set to be a ‘Game Changer’

While discussing the metaverse, Yeh claimed that the Apple Vision Pro, the technology behemoth’s upcoming virtual reality (VR) headset, is a ‘possible game changer’ for virtual worlds. He said it could witness considerable sales volumes that might reduce hardware costs.

Further, he said that the higher the adoption, the more the costs will be reduced, which conquers one of the significant obstacles for people to get into space.

Meta is creating a significant impression in virtual reality and unveiled its latest Quest 3 headset this year. However, Yeh believes the firm ‘lacks a similar popular brand image as Apple for individuals to offer a significant premium.’

 Apple might be one of the players globally that can shift the needle with adequate scale to reduce hardware costs considerably.

Apple claims the headset is going to chip early next year and comprises features standard among its rivals, including hand and eye monitoring. Early demonstrations have resulted in it being considered a combined-reality device rather than a Pure VR headset.