The Gaming Brain Drain is Real: How Web3 is Transforming the Gaming Industry

In recent years, a remarkable migration has taken place in the gaming industry. Renowned figures from the world of Web2 gaming giants have made the leap into the Web3 space. The likes of Kevin Lin, co-founder of Twitch, Ryan Wyatt of YouTube’s gaming empire, and gaming maverick Marty Burgess have all ventured into the crypto gaming realm. What’s driving this mass exodus to Web3 gaming? The answer can be summed up in a single word: ownership.

Colin Foran, a former Microsoft executive, eloquently encapsulates the shift. With blockchain technology, there’s no longer a need for shady black market deals for gaming assets, nor the threat of big publishers arbitrarily banning in-game purchases. Blockchain technology bestows full ownership of in-game assets upon the players, adding a layer of provenance that extends far beyond the surface level. Imagine owning a sword used by your favorite gaming pro during a championship – this is the promise of Web3.

The Gaming Stats and Industry’s Rapid Growth

To understand the gravity of this transition, we need to look at the numbers. The global gaming market was valued at approximately $200 billion in 2022 and is projected to reach $314.40 billion by 2026, with a compound annual growth rate (CAGR) of 9.64%. This rapid expansion is fueled in part by the proliferation of mobile games, making gaming popular across all age groups. In 2022, there were approximately 3 billion gamers worldwide. Importantly, a significant portion of these gamers are already familiar with in-game currencies and virtual economies, making them primed for the shift to blockchain-based assets. Check the crypto gaming ecosystem on CoinMarketCap.

There’s a burgeoning generation of digitally native young people who are more open to the convergence of finance and gaming. They are less interested in traditional forms of investment and more inclined towards digital assets and gamification.

According to a report from DappRadar, the blockchain gaming sector saw a 2,000% increase in terms of unique active wallets interacting with game-related smart contracts in 2021. During that time, a game called Axie Infinity boasted up to 2 million daily active users and generated almost $1 billion in revenue, achieving what Candy Crush took a decade to achieve.

The Bottlenecks and the Role of Merit Circle

Two significant bottlenecks are holding back the industry. Game developers are hesitant to learn how to program blockchains when they want to focus on creating games. Gamers, on the other hand, don’t want to learn how to manage crypto; they simply want to enjoy playing games.

Enter Merit Circle.

What is Merit Circle?

Merit Circle is a decentralized autonomous organization (DAO) with a primary focus on crypto gaming. Merit Circle provides infrastructure and funding to players and developers in the play-to-earn (P2E) space. It invests in in-game assets that can be lent out to players, funds game development, provides a marketplace for trading game-related assets, and offers services to train players in P2E games to maximize their earnings.

But here’s the game-changer: Merit Circle’s venture portfolio includes equity in a total of 61 games or game incubators, and over 170 Web3 games are currently in the works, with the majority connected in some way to Merit Circle. The potential for massive upside in games with strong economies and high demand for in-game assets is significant, and it positions Merit Circle for a substantial return on investment.

BEAM: The Index Token of Crypto Gaming

BEAM is the latest offering from Merit Circle, and it represents a significant innovation in the crypto gaming space. Simply put, BEAM is a gaming infrastructure play. Through their Beam platform, the Merit Circle team is creating a way for developers to integrate blockchain into their games without requiring any prior knowledge of blockchain technology. Gamers also don’t need to be blockchain experts; they can enjoy games seamlessly.

Lear more about BEAM.

The BEAM token has practical utility. It serves as the “gas” token and in-game currency. Despite launching just recently, BEAM is already gaining traction. One of the games set to launch on the BEAM platform, Trial Xtreme, has already amassed over 250 million downloads outside of blockchain.

The Beam ecosystem includes:

• Companion App: This app simplifies the management of in-game assets for players, bypassing typical blockchain complexities.
• Sphere: A marketplace for trading game assets within the Beam ecosystem.
• Hub: A community space for gamers to review and engage with early-access games.

Merit Circle’s BEAM network token has enormous potential. It addresses the critical issues of onboarding both game developers and players into the world of blockchain gaming. By simplifying the process and offering a seamless experience, BEAM is poised to unlock the next phase of growth in the crypto gaming sector.

As BEAM is a newly launched crypto, it’s still in its early stages. Caution is advised when considering investments in such early-stage tokens. Dollar-cost averaging can be a prudent strategy, even for these extra-early tokens.

How to Buy BEAM

BEAM can be purchased on the Ethereum network through Uniswap using Metamask. Care must be taken to avoid purchasing the wrong BEAM token, as there is a privacy coin called BEAM.

The official contract address for the BEAM network is: 0x62d0a8458ed7719fdaf978fe5929c6d342b0bfce. Searching for this contract address on Uniswap will ensure that you acquire the correct token.

In conclusion…

BEAM is the bridge that simplifies blockchain gaming for developers and players. The crypto gaming industry is poised for explosive growth, and BEAM, with its user-friendly approach, could well be the catalyst that propels this burgeoning sector into the mainstream. As Web3 gaming gains momentum, BEAM represents the key to unlocking the full potential of blockchain technology in the gaming world.

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