Sharing my thoughts from Korea Blockchain Week…

At Korea Blockchain Week (KBW) 2024, Games were at the forefront of conversations as they are key drivers of on-chain transactions, outpacing even DeFi in some areas (~300 side events; mostly gaming). Despite this growth, Web3 gaming faces challenges, especially around user experience (UX) and ecosystem partnerships. Here are some of my short observations - feel free to reach out to me directly to chat more.

1. Games are Games; not Web3 Games.

Games are gaining traction, but the benefits of web3 technology still comes with clunky user experience causing a significant barrier for everyday players. Setting up wallets and managing tokens is often confusing.

Additional Thoughts: This shouldn’t be an issue anymore. thirdweb is working on abstracting away web3 user experience. In-app wallets (social and email log-in), and smart wallets remove friction and abstract away web3 completely, allowing players to focus on enjoying the game. A seamless UX is key to both onboarding and retention. We added LINE log-in this week per feedback from KBW. I also translated our Connect SDK in Korean 🙂 (Modal Options, Local: Korean).

2. Prioritizing Ecosystem Partnerships Over Grants

Developers often choose blockchain ecosystems based on available funding or grants. However, a true ecosystem partner provides long-term value, support, and user growth, which is more critical than short-term financial incentives.

Moreover, cross-chain compatibility is becoming essential in Web3 gaming. Projects like MiraclePlay show that supporting multiple chains attracts a broader audience and allows for more flexible gameplay.

Additional Thoughts: Prioritize ecosystems that offer ongoing support and user engagement. Choose partners who help drive adoption and create lasting value for your game. thirdweb supports any EVM chain (see our list of supported chains here).

3. Asia’s Web3 Growth—With Regulatory Hurdles

Asia is a hotspot for Web3 development, but regulatory challenges in countries like Korea (like the US) limit access to games and apps. Despite this, development activity continues to rise, bringing new experiments and use cases.

Additional Thoughts: To be honest, I feel powerless here at times but would love to work with someone who can help brainstorm the next steps here with me.

I loved meeting developers and ecosystem partners from all around the world. The builder energy seems to be thriving regardless of market conditions!

Reach out to me directly at @mdjshin on TG!