The new face of gaming: Earn, play, and date in web3

What if you could not only play a game but also date in it? Mona Motwani, founder of Ixia Capital, sees this as just one example of the exciting possibilities web3 is bringing to the gaming world.

She envisions a future where gaming evolves beyond mere entertainment to become a space for real-world social interactions.

But web3 isn't just about adding social features. It’s also revolutionizing the way players engage with the game’s economic system.

Motwani told The Crypto Radio, "In my last 10 years of my journey, I have seen a lot of transitions, but what fascinates me most is how players are now becoming true stakeholders in their gaming journey."

A shift in control

Unlike traditional games, where players rent in-game assets, web3 gives them the chance to own their digital possessions. This shift in ownership adds a whole new dimension to the gaming experience, providing players with real opportunities to profit from their in-game assets.

Web3 gaming opens doors for players to benefit financially in ways that were never possible before. Whether it’s staking assets for rewards or using them as collateral, these new financial opportunities are part of a larger transformation from the traditional gaming model, where players simply rented items from developers.

What makes web3 gaming especially exciting is the shift in how players interact with the game itself. "It’s fascinating to see how these communities are naturally evolving into self-governing ecosystems. They're not just users anymore," Motwani explained.

In web3 games, players aren’t just passive participants; they become active decision-makers. They can engage in DAOs (Decentralized Autonomous Organizations), which allow them to vote on key aspects of the game, such as its development and economic structure.

This transition from passive player to active participant is a game-changer—pun intended.

Why many projects fail

While the potential of web3 is clear, Motwani highlighted the challenges many startups face, particularly in emerging markets like India, the UAE, and Africa. "For them, it’s still very complex, but the aim is to slowly, gradually make it simpler," she said.

The ultimate goal is to make web3 gaming as easy to use as social media platforms, but this requires overcoming significant barriers to adoption.

Motwani also pointed out why many web3 gaming projects fail: they focus too heavily on short-term profits rather than building a strong, sustainable foundation. "We look at economic foundation. Many crypto gaming projects stumble because they focus on token speculation rather than creating genuine utility," she said.

To address these challenges, Motwani’s company, Ixia Capital, focuses on two crucial principles: tokenomics and utility. Tokenomics involves designing in-game currencies that hold real value, not just speculative worth. Utility means ensuring that in-game assets enhance gameplay or offer rewards, rather than simply being collectable items with no practical purpose.

The future

Looking to the future, Motwani sees immense potential for web3 gaming to continue evolving. "I don’t think it’s very far. We are very close to launching something where we won’t feel like we’re just watching it online," she said. "We are already there in that stadium."

From integrating social features like dating to creating opportunities for players to immerse themselves as characters within the games, the future of web3 gaming is full of possibilities.

 

Listen to the whole interview on The Crypto Radio's live player or in the Crypto Culture podcast.