Three New Projects to Watch for 2023 in the Web3 Entertainment Market

In the world of web3 entertainment, there are several new projects that everyone will be watching in 2023. These projects can bring new ideas to the industry and introduce new levels of engagement and excitement. 

This article will examine three promising new projects in the space and what they offer to the industry. 

What is Web3 Entertainment, and What Are Its Key Components?

With the term "Web3 entertainment," crypto experts refer to a new era of digital entertainment enabled by decentralized technologies. As most crypto enthusiasts know, gaming is a significant focus of this new industry.

Some of the critical components of Web3 Entertainment are:

Decentralized content platforms: These are platforms like Steemit, DTube, and DLive, where content creators post their work and get paid in cryptocurrency.

Blockchain-based games: CryptoKitties, Etheremon, and Ether Legends use the blockchain to create unique, tradable assets.

Decentralized exchanges: These are platforms like 0x, Kyber Network, and Bancor allowing the exchange of cryptocurrency tokens.

Cryptocurrency wallets: These digital wallets allow users to store and trade cryptocurrency tokens.

Initial coin offerings (ICOs): These are fundraising events where startups sell tokens to investors in exchange for cryptocurrency.

Web3 entertainment is still in its early stages, but the growth potential is vast. With the increasing popularity of cryptocurrency, one can expect more and more platforms and applications to emerge in the sector.

How Will the Industry Likely Develop Over the Next Five Years 

Before looking at three projects in the industry, it's worth considering how the sector will develop over the next years. 

As most observers know, more and more people are acquiring awareness of cryptocurrencies and decentralized technologies. Consequently, the sector will likely see a continued rise in content platforms, games, and exchanges that use these technologies. 

ICOs are also likely to continue being popular for startups to raise money. This is because they offer a way to bypass the traditional banking system. What's more, as the industry matures, one can expect more regulations to emerge. This is already starting to happen, with the SEC cracking down on fraudulent ICOs. 

This will likely lead to a more robust and sustainable industry. The sector should be able to learn how to weather the ups and downs of the crypto markets.

Three New Projects to Watch in 2023 

At this point, the subsections below will provide the key details of three promising projects in the web3 entertainment niche.

#1 - Voiders

Voiders is a mid-core mobile game aiming to be an advanced intellectual product created by many people. The Voiders project is 2 in 1. This is entertainment and an opportunity to receive additional income for players and investors. 

Moreover, the project’s depth and its amount of content suggest that the product's life cycle will be very long. This will have a very positive impact on investment in the project. The Voiders team has plans and the possibility to update and support the project for at least seven years.

Furthermore, the Voiders team plans to launch several closed tests and then an open test. And all this time, it intends to support and grow its community. The team's goal is to change the mindset of the regular web2 players. This way, gamers can play a new game, have fun, and earn coins.

Another fundamental aspect to keep in mind is creating a new trend for the mass distribution of Digital Game Collectibles (DGC). The team believes in this market niche potential, and investors will monitor its evolution.

#2 - Elfin Kingdom

The Elfin Kingdom presents itself as a game merging decentralized finance, yield farming, and gamified elements in a play-to-earn platform. According to the project’s website, Elfin Kingdom lets users “collect, battle, and farm to earn more with their crypto.”

In the Elfin Kingdom, players can choose their roles. Its founders explain that the built-in banking system aims to help players maximize their earnings. The game also features a PVE mode, in which players can compete against computer-controlled opponents. Furthermore, gamers will be able to join a PVP mode that pits players against each other. 

The Elfin Kingdom wishes to create a unique world for players to explore. The game’s mechanics aim to encourage player interaction and strategic thinking. The game's ultimate goal is to become the best Elfin trainer. Players can progress through the game by discovering new places and towns.

#3 - Grit

Grit is a project competing to become the next big Battle Royale game. Grit's storyline evolves in the old West and features multiple game modes to enhance the gamers’ experience. The goal of Grit is to be the quickest draw in the West. To do so, players must focus on strengthening their frontier-hardened survival skills. 

Another aspect of Grit to consider is the in-depth systems that players can use to customize their game experience. These include cowboy and gunslinger equipment and the option to bond with a trusty steed. Weapon cards are also available for players to collect, each providing different bonuses and perks.

Grit's Wild West is dangerous, and players must find a way to survive. In the founders' words, gamers will focus on outlasting all the other "greenhorns" and "bushwhackers" in this digital world.  

Final Thoughts - A Sector Looking to Revolutionize Itself

The games industry is ever-changing, and new trends are constantly emerging. The past year has been no different, with the rise of blockchain games being one of the most significant changes. 

While the sector is still in its early days, many projects already show much promise. With more projects and people entering the market, this industry may be on the brink of another revolution. Gamers will need to be more engaging, with users having a broader choice on the market.