The enthusiasm for Web3 game investments is declining, but it still holds immense potential.

Recent data shows that investment enthusiasm in the Web3 gaming sector has cooled down. From February to March, the monthly investment amount in this sector fluctuated between $60 million and $100 million, which only accounted for 41.35% of the trading volume in the first quarter of 2022. Since the beginning of 2024, the market value of Web3 games has dropped by 33%, while other cryptocurrencies have only fallen by 14%.

Despite facing challenges, Web3 games still demonstrate tremendous potential. Currently, this sector accounts for 30% of all decentralized application activity, with daily active wallet numbers reaching 2.1 million. As technology continues to advance and user experience improves, Web3 games are expected to become a significant force driving the development of the cryptocurrency industry.

Off The Grid: A Highly Anticipated New Web3 Game

Recently, a Web3 game named Off The Grid (OTG) has attracted widespread attention. The game was developed by Gunzilla Games, taking 5 years and an investment of 90 million dollars, created by a team of over 300 people. Currently, OTG has launched a early access version on Epic Game Store, PlayStation 5, and Xbox.

Game Features

OTG merges the mechanics of classic battle royale games with elements of cyberpunk style:

1. Rich equipment system: In addition to conventional firearms, it also includes jetpacks and interchangeable mechanical limbs.
2. Massive Map: Currently the largest battle royale game map, allowing players to freely navigate between skyscrapers.
3. Unique extraction combat mode: Players need to collect and extract HEX cubes to obtain blueprints for weapons, accessories, or prosthetics.
4. Innovative Economic System: In-game items are obtained through player extraction mechanisms and minted on the blockchain, ensuring scarcity and ownership.

market performance

OTG topped the free games on the Epic Games Store as soon as it was launched. According to data, as of October 15, the trading volume related to OTG has exceeded 50 million, with over 5.6 million independent wallets. On the Twitch platform, the game's watch time in the first week surpassed 2 million hours.

Outlook on the Web3 Gaming Industry

Although OTG has performed brilliantly, whether it can maintain its popularity in the long term remains to be seen. In the coming months, the Web3 gaming market will welcome several heavyweight new releases, including:

• EVE Frontier: A single shard survival game set in a dystopian space.
• MetaCene: A blockchain-based MMORPG set in a post-apocalyptic backdrop.
• Avalon: Uses Unreal Engine 5, integrating multiple blockchain technologies.
• Big Time: A multiplayer action role-playing game on PC.

The launch of these games may intensify market competition and distract users' attention. However, as more high-quality Web3 games enter the mainstream market, the entire industry is expected to experience significant growth. Web3 games are still regarded as one of the most promising areas in the cryptocurrency sector, and industry insiders maintain an optimistic outlook on their short- to medium-term development prospects.