Blockchain gaming (also called NFT, web3, or crypto gaming) is reshaping the landscape of digital entertainment as we know it. However, myths and misconceptions continue to confuse and discourage traditional web2 gamers. This is due to a lack of information and education about web3, exacerbated by bad representations in the mainstream press and media. As the industry evolves, it's time to separate true from false.

True or False: What Are the Biggest Misconceptions About Web3 Gaming?

True or False?

Immutable recently published a blog post examining the industry's developments and the rise of blockchain technology in gaming. This article summarizes Immutable's findings and addresses five common myths about web3 gaming. We will explore common misconceptions about web3 gaming, and cover the facts behind the evolution, accessibility, and roadblocks to mainstream adoption.

Myth 1: AAA Game Studios Are Ignoring Web3 Gaming

False: The misconception that AAA studios are ignoring web3 gaming couldn't be further from the truth. Skeptics may view web3 as a passing fad, but industry giants recognize its transformative potential.

Ture: Major players are heavily investing in web3 gaming. With 29 of the world's 40 largest gaming companies, including Sony, Ubisoft, and Epic Games, already exploring this space, the market is projected to grow from $4.6 billion in 2022 to $65.7 billion by 2027. CCP Games raised $40 million for a web3 game, Sony is patenting cross-platform digital assets, and Epic Games welcomes blockchain titles. Nearly $20 billion has been invested in the past four years, signaling the dawn of a new era in gaming.

You can read more about this in a deep dive on our website here.

Top Gaming Studios in Web3

Myth 2: You Need to Be Crypto Savvy to Play Web3 Games

False: Seed phrases, gas fees, and blockchain jargon made web3 gaming seem inaccessible to the average gamer.

True: Web3 gaming has become significantly more user-friendly. Modern web3 games, like Guild of Guardians, offer seamless onboarding experiences with intuitive interfaces that hide the underlying blockchain technology. Immutable's Passport, with over 1.5 million sign-ups, exemplifies this ease of use, allowing gamers to dive in without needing a background in blockchain or crypto.

You can read more about this in a deep dive on our website here.

Immutable Passport Hits Over 1.5 Million Sign-Ups

Myth 3: Web3 Games Are Just Pay-to-Win Scams

False: The perception that web3 games are merely pay-to-win schemes is outdated.

True: Web3 gaming focuses on play-to-own rather than pay-to-win. Games like Gods Unchained and Illuvium enable players to earn, own, and monetize in-game assets without initial investments. Players in Gods Unchained, for instance, earn tradable cards through gameplay, with the platform sustaining over $130 in monthly transactions per player. This model empowers players, making their time and skills valuable.

You can read more about this in a deep dive on our website here.

Illuvium Character Art

Myth 4: Web3 Gaming Graphics Suck

False: There is a belief that web3 games cannot match the graphical fidelity of traditional games.

True: Web3 games are pushing visual boundaries, utilizing advanced engines like Unity and Unreal Engine. Titles like Space Nation Online and The Red One showcase AAA-quality graphics, proving that web3 gaming can deliver visually stunning experiences. Even strategy games like Medieval Empires offer richly detailed worlds, demonstrating that web3 gaming is not just catching up but leading in visual excellence.

You can read more about this in a deep dive on our website here.

Space Nation Character Art

Myth 5: Web3 Games Are Just for Crypto Bros and NFT Collectors

False: Web3 gaming is often perceived as a niche for blockchain enthusiasts.

True: Web3 gaming is rapidly entering the mainstream. Immutable zkEVM has nearly 2 million monthly active users. Major publishers like Netmarble's MARBLEX are migrating popular titles to web3 platforms, with games such as Ni no Kuni: Cross Worlds generating significant revenue. New titles like The Mystery Society and Baby Shark Universe are also building on web3 tech, highlighting the broad appeal and growing adoption of web3 gaming.

You can read more about this in a deep dive on our website here.

Netmarble's MARBLEX Partners with Immutable

Final Thoughts

Web3 gaming is steadily overcoming myths and misconceptions, showing its potential to transform the gaming industry. From major AAA studios investing in blockchain technology to user-friendly onboarding processes, web3 gaming is becoming more accessible to a wider audience. The shift from pay-to-win models to play-to-own frameworks gives real-world value to in-game achievements. Additionally, the advanced graphics and mainstream adoption demonstrate that web3 gaming is not just for niche enthusiasts but for all gamers. As we all work together to continue to innovating in this space, the future of web3 gaming looks promising.