Web3 refers to the third generation of the World Wide Web, a more decentralised and open digital world than its predecessors.
Web3 applications, which have been enabled by blockchain, enable new ways of building and interacting with online applications and services. Decentralised apps (dApps), for example, forgo centralised servers and instead transact on a distributed, peer-to-peer basis.
The integration of Web3 technologies into the gaming industry has revolutionised the way games are designed, played and monetised. It allows for the creation of transparent and secure gaming experiences. Players can own and trade in-game assets in a trustless environment, such as non-fungible tokens (NFTs) that represent virtual items and digital collectibles. This has led to the emergence of new business models and revenue streams for game developers, as well as increased player engagement and immersion.