Web3 Gaming Summit 2023 Concludes Successfully, Leading Transformation and Reaching New Heights
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Web3 Gaming Summit 2023 Concludes Successfully, Leading Transformation and Reaching New Heights
The Web3 Gaming Summit has successfully concluded, leaving participants and the entire industry with valuable guidance and insightful perspectives shared by numerous pioneers and practitioners, reminding us once again of the boundless potential and promising future of the Web3 gaming sector.
Navigating Web3 tides with focused insights
On September 11–12, 2023, the official gaming track of Token2049, Web3 Gaming Summit 2023—co-organized by ABGA and DeGame—officially kicked off. This summit served as a convergence point for Web3 gaming enthusiasts and pioneers, bringing together global leaders, developers, investors, and fans from the Web3 gaming space, alongside prominent industry leaders from both Web2 and Web3. Under the theme "New Era For Gameplay," the event aimed to explore the future of Web3 gaming and provide new directions, strategies, and tools for the industry’s upcoming development.
According to statistics, over 4,000 people registered for the summit, with actual attendance surpassing 4,300—clearly demonstrating the entire industry’s attention toward Web3 gaming and high expectations for the event's themes, speakers, and content. It quickly became one of the most trafficked events during those two days.
The summit officially began on the morning of September 11, 2023, at 11:00 (UTC+8) at Marina Bay Sands in Singapore. The morning session featured presentations and panels organized by Linea, DeGame, and Particle Network on the Linea gaming ecosystem, unveiling Linea’s strategic goals to attendees. In the afternoon, ABGA, together with Klaytn, Iskra, and CESS, hosted the final round of a hackathon showcasing top 10 teams’ cutting-edge game products. Meanwhile, multiple leaders and experts from both Web2 and Web3 fields were invited throughout the afternoon to share their insightful perspectives on Web3 gaming. Following dynamic demonstrations and discussions, winners were announced in a grand awards ceremony.
At 9:30 AM (UTC+8) on September 12, Web3 Gaming Summit 2023 officially opened, with ABGA Executive President Kevin Shao delivering the opening remarks and sharing key insights into the Web3 gaming market. Besides analyzing current popular blockchains and active games within the industry, Kevin highlighted that fully on-chain games are rapidly emerging, and Web3 game developers will benefit significantly from the rise of AIGC.
In an interview with Cointelegraph, Kevin also noted that games serve as excellent environments for running AI, enhancing both development efficiency and interactivity. Discussing recent trends and developments in the gaming sector, he pointed out that many games have already achieved cash flow revenue, forming a growing trend to attract new users. Over the past two years, AAA games have gradually become mainstream. However, developing AAA titles remains highly challenging and capital-intensive, making the current market insufficient to support widespread production of such games.
Additionally, the summit featured a series of compelling talks, including:
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Sébastien Borget, COO of The Sandbox, discussed how today’s Gen Z is embracing NFTs and digital asset ownership. To support this growing creator culture, The Sandbox continues launching new creations, games, and tools while fully backing its community. He concluded by outlining multiple pathways and directions for creators’ growth within the ecosystem.
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Aloysius Chan, CEO of AI Meta Club (AMC), shared his perspective on whether blockchain can remain secure forever. He noted that beyond a certain profitability threshold, game companies must decide if investing in expensive detection and encryption tools to deter hackers is worthwhile. He added that with artificial intelligence, blockchain technology in Web3 games could operate independently of GameFi integration.
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Hugo Church, Head of Business Development at Brilliantcrypto, introduced the audience to Brilliantcrypto’s exciting gaming world. He predicted that beyond gamers, NFT collectors would also be interested in owning gems or jewelry on Brilliantcrypto. He also explained how the concept of “Proof of Gaming” creates real value for players.
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Kordan Ou, CEO of KryptoGO, identified challenges in transitioning from Web2 to Web3 games—including identity binding, security and integration, and entry barriers—and proposed practical solutions: stronger blockchain integration, improved user experience and accessibility, robust financial ecosystems, and sustained community and social engagement to enhance gameplay and user retention.
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Steve Good, CEO and Co-founder of Dreams Quest, unveiled the company’s upcoming open-world action-adventure RPG, *Origins: The Fall of Azoria*. He also revealed that to better support the gaming community, Dreams Quest has built a new NFT infrastructure compatible with multiple chains and a dynamic marketplace.
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Carol Wang, Co-founder and CFO of MarsProtocol, discussed centralization issues on Ethereum. She pointed out that liquid staking currently accounts for 43% of Ethereum’s staking market, with Lido dominating at 74.2% market share. Amazon hosts nearly 60% of Ethereum nodes, and node centralization remains one of Ethereum’s biggest challenges, for which she presented corresponding solutions.
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Lester Li, Founder of DeGame, opened the afternoon sessions with insights into trends and growth strategies in the Web3 gaming industry. He noted that Web3 gaming infrastructure is evolving thanks to specialized blockchain game engines, improved blockchain efficiency, reduced on-chain transaction fees, and deployment of key technologies like account abstraction and related EIPs. He also stated that the Web3 gaming market is growing rapidly, with more traditional games expected to transition to blockchain-based models in the next two years.
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Hara, CEO of Jasmy Labs, gave a detailed introduction to the Jasmy platform and its core mission. He also announced a new grant program launched by Jasmy to support community-driven projects. Currently, Jasmy is building Jasmy Chain, an Ethereum-based Layer 2 solution, to further improve scalability and deliver high-quality services continuously.
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Jake Liu, CFO of Planet Hares, shared his views on “How to extend a game’s lifecycle through Web3 mechanisms.” He emphasized that thoughtfully designed tokenomics—such as Play-to-Earn and decentralized governance—allow developers to build Web3 game metaverses that enhance longevity. He recommended designing a dual-token model to prevent governance token dilution while maintaining price stability for utility tokens.
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Henry Ferr, CMO of MetaCene, stressed that Web3 games must be genuinely fun to compete with mature traditional/Web2 games. He introduced MetaCene, a product focused on integrating Web2 and Web3 features to create an innovative gaming platform targeting mass-market appeal.
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Karen Kao, CMO of BoxTradEx, introduced BoxTradEx as an all-in-one Web3 gaming portal offering various games, tournaments, guilds, quest systems, token trading, and NFT markets. Its Guild ToolBox serves as a comprehensive solution for gaming guilds to manage crypto tokens, NFT assets, add members, and organize guild activities.
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Jae Kim, BD Lead at Luniverse, shared how blockchain games can benefit from multi-chain infrastructure. As a node service provider, Luniverse offers multi-chain Web3 APIs that allow developers to easily build decentralized applications and deploy them across multiple blockchain networks via a unified interface.
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Yawn, Co-founder of STEPN, drew from STEPN’s experience to share key lessons in building Web3 games. He suggested that the next phase of Web3 will be hyper-social, and the next “holy grail” in gaming will require solving the infinite lifecycle of NFTs and reducing entry barriers to zero.
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Shukyee, CMO of Polyhedra, shared how the company powers Web3 gaming through its new zkBridge technology. She highlighted zkBridge’s advantages: trustlessness, security, efficiency, decentralization, scalability, and universality, along with its ability to connect various Web2 and Web3 systems.
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Sami CHLAGOU, Co-founder and CEO of Cross the Ages, shared how the collectible card game *Cross the Ages* consistently delivers value to players. He noted that the shift from Web2 to Web3 brings significant challenges, emphasizing that developers must prioritize user experience, keep games simple, and craft immersive experiences for audiences.
Amidst these engaging talks, the summit specially arranged four panel discussions, inviting industry leaders from major Web3 sectors to dive deep into Web3 gaming. These four panels were:
Navigating the Future of Web3 Gaming: From Infrastructure to Community
Hassan Ahmed, Country Director at Coinbase Singapore, noted that we are currently in the first stage of Web3 gaming. He believes the next phase will involve gaming-specific wallets and new NFT standards, but emphasized that games must first be playable before considering tokenization and monetization.
Lennix Lai, Chief Commercial Officer at OKX, added that future development should focus on infrastructure for casual and hyper-casual games to make them accessible to the masses, and that foundational layers should become more game-friendly.
Minh Ho, BD Lead at Coin98, pointed out that blockchain is just one component of gaming infrastructure, and while rollups may be a trend, the key lies in integrating elements like NFTs into games—since not everything needs to be on-chain.
Sanjay Popli, Co-founder of Cryptomind, suggested that the next phase won’t revolve around tokens but rather NFT-based in-game items. However, he warned that projects must overcome three critical issues: inefficiency in game economies, short-term value expansion (high user counts but unsustainable), and difficulty generating revenue.
Which Game Genre is The Best Fit for Blockchain Gaming?
Vera, Special Council Member of Apecoin DAO, emphasized from a developer’s standpoint the importance of understanding the audience and designing tokenomics tailored for Web3 gaming communities—but stressed that staying focused and deepening user understanding matters even more.
Dreamer, Co-founder of Defi Kingdoms, noted that blockchain games often feature complex mechanics and high entry barriers, making it difficult for new players to enter Web3. He believes the increasing value of digital collectibles might incentivize players to try Web3 gaming.
Lucaz Lee, CEO and Co-founder of Affyn, acknowledged that Web3 gaming has dramatically reshaped the industry landscape, but stressed that to encourage adoption, game design must prioritize customer experience above all.
William Guo, CEO and Co-founder of PlayEstates, observed that card-collecting games and their P2E mechanics will continue to enjoy healthy markets, but called for collaboration to solve Web3’s scalability limitations.
Mary Ma, Co-founder and CSO of MixMarvel, expressed a more optimistic view on Web3 gaming. She believes emerging Web3 technologies now allow users to access Web3 games via social logins or email accounts, and is confident that more Web2 users will eventually adopt Web3 gaming.
Is There Still Demand From VCs for Web3 Gaming?
Kelvin Koh, Co-founder and CIO of The Spartan Group, said that when tokens are properly utilized, developers can expect exponential user growth. However, he noted the current market sentiment is relatively pessimistic, advising teams to stay realistic.
Jason, Founder of Folius Ventures, pointed out that customer acquisition costs for games have skyrocketed. He criticized some Web2 games for haphazardly adding random Web3 features, calling this approach an unviable investment strategy.
James, Investment Director at Animoca Ventures, noted that many talented game developers are now entering the Web3 space. His advice to Web3 games seeking funding: avoid inflated valuations and deeply understand the ecosystem.
Wesley, Founder of Rootz Labs, emphasized the importance of ecosystems and stack layers, sharing that Rootz Lab recently invested in a new reputation system. He added that crypto games seeking funding need patience, flexibility, and a clear understanding of the differences between the crypto community and the traditional gaming industry.
How Public Chains Build and Support Gaming Ecosystem
Alvin Kan, Asia Lead at Sei Foundation, said the Web3 gaming user experience should be more user-friendly. He looks forward to games sharing assets like NFTs and having centralized marketplaces, which would greatly enhance interoperability among games.
Mr. Walter, Web3 Gaming Lead at BNB Chain, noted that DAOs can help shape games, especially esports titles. However, he warned that full transparency in DAOs means projects are public, suggesting hybrid models where certain development decisions can be made internally.
Hazel Zhang, Investment & Financing Lead at AELF, remains optimistic about gaming and continues to offer venture capital and project grants. However, she believes not every game is suited for a DAO structure.
John Cho, VP of Development at Klaytn Foundation, said developers need user acquisition support. He anticipates that traditional AAA studios and mainstream gamers will gradually transition into Web3, while players and developers more focused on crypto elements will move deeper into GameFi.
Alongside these expert insights, ThreeDAO launched its Creator Bootcamp initiative during the summit. More than 50 creators are expected to join the bootcamp, receiving mentorship from a coaching team composed of Web3 industry leaders, embarking on an exciting journey into Web3.
The Web3 Gaming Summit co-hosted by ABGA and DeGame has successfully concluded, leaving participants and the broader industry with invaluable guidance and sharp insights from numerous pioneers and practitioners—an inspiring reminder of the vast potential and bright future of the Web3 gaming sector. We extend our gratitude to all participants, speakers, and partners whose collective efforts and contributions made this summit a feast of knowledge exchange and innovative thinking.
Web3 gaming continues to evolve at a rapid pace. ABGA and DeGame hope this summit can catalyze transformative changes in the industry ahead, and look forward to Web3 gaming delivering even greater surprises and opportunities to players worldwide in the days to come. Let us look forward to the next summit, when we reunite once again to explore the promising future of Web3 gaming!
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