During the Hong Kong Blockchain Week, I participated in the Web3 Gaming Summer event hosted by the DAO organization @GMA_DAO, which has been long focused on web3 games. I moderated a significant roundtable forum, and it was very rewarding. Many people attended, exceeding expectations, and there is a lot of interest in web3 games. Although we are currently at a low point, we hope that web3 games will be an important application for mass adoption in the web3 field in the long term.

Guest：

​KK @longwinsk​: Hash Global Founder

@shanshan521: Waterdrip Capital CEO

​@VincentSkywalke​: Initiate Capital Founder

@pcfli: GMA Founder

1. There is a growing saying that the web3 gaming sector is gone. The performance of several games, which were previously highly anticipated, has been disappointing after their token launches. What do you think?

@VincentSkywalke​: It seems that the current public chains or layer 2 solutions have gone in the wrong direction. They haven't found the best game developers, or many public chain teams have also become complacent. A significant reason why existing web3 games are not monetizing well is that the games themselves are not fun enough, and promotion is only about web3 users cutting into each other's shares. The best game developers are in mainland China. We need to find them, invest in them, and create opportunities for games to generate positive revenue. I urge Chinese web3 game developers to unite and create a public chain together.

@longwinsk: We are optimistic about the development of the web3 application layer in the long term. We believe that the web3 field is still in the 1999 era of the internet and is very early, with a small user base. It is normal for web3 games to struggle with monetization right now. As regulations become clearer in various countries and the user base grows larger, more game developers and players will recognize the advantages of web3 and come in to develop games. If web3 only consists of Bitcoin and DeFi, it should be called crypto finance; public chains like Ethereum are the future of web3.

@pcfli: GMA has been deeply involved in the web3 gaming field. Currently, the overall situation is not very good. I prefer to think it is still due to a small user base, combined with market factors. Only with more traditional web2 players entering can there be a possibility for mass adoption in the web3 field. We also need public chains, payment systems, and other infrastructure to be more complete for the application layer to potentially explode.