Nearly $400B Current Yearly Global Gaming Industry Primed for Tokenization

MIAMI, May 16, 2023 /PRNewswire/ — The current fragmented wallet infrastructure has immensely neglected the needs of web3 gamers. Preventing the full adoption of blockchain tokenization. V3’s Gaming Wallet has created an innovative new approach to solve this by focusing on simplifying the user experience of nearly 3 billion active gamers. For context, gaming alone is on track to hit nearly $400 Billion-dollar annual revenue in 2023. Which is projected to grow 7.7% annually over the next 5 years. While only 2% of this revenue has been tokenized on the blockchain. 

There are several problems with current wallets that have prevented the wave of gaming tokenization. One is the lack of standardization. As the majority of games and platforms use different methods and interfaces for creating and managing in-game items. This makes it difficult for players to seamlessly Interact with tokenized assets between games or platforms. Which leads to confusion and poor player experience. 

V3’s mission statement “To pioneer the adoption & management of tokenized gaming assets,” says Founder and CEO, Brandon Arndt

A resulting issue from lack of standardization is the increased security and transparency risk. As game studios grow their desire to tokenize their gaming experience, the lack of support for proper wallet infrastructure pushes game developers to attempt to build their own wallet. This not only confuses a gamers’ experience by requiring the creation and adoption of multiple wallets for each gaming experience, but also increases the risk of improper development to store these tokenized game assets securely.  

Both the game developers and players strongly benefit from a tokenized gaming industry. This is because current in-game items are often stored on centralized servers and traded on black-market style infrastructure, which bypasses the ability for game studios to add an additional revenue stream, but also increases vulnerability to hacking and fraud. Additionally, the ownership and origin of each in-game item being traded can be difficult to verify when not on the blockchain. Which makes it hard for players to ensure they are getting a fair deal when buying or selling items. 

Co-Founder Ryan Zarzaur, “We’ve completed key milestones and made strategic moves to ensure a streamlined approach for the onboarding and management of gaming assets for players.”  

All the most popular generic wallets fail to prioritize the gaming industry. Due to the required niche interfaces needed to improve a player’s experience. V3’s Gaming Wallet provides the much-needed solution by providing this standardization. Which allows direct integration into games for easy item swapping on an internal decentralized marketplace during gameplay. While also providing an easy interaction with accumulated in-game items directly from the players safety of their wallet. 

“We’ve identified a massive product market fit with an incredibly active and evergreen audience, allowing V3 to have a first mover advantage in a growing $400 Billion market,” Co-Founder Jonathan Tuttle

The Company has recently announced their Seed Round investment opportunity, for motivated investors seeking a position in a flourishing and lucrative industry. To learn more about V3’s Gaming Wallet investment opportunities connect with Founder and CEO Brandon Arndt.

Media Contact:
Brandon Arndt

SOURCE V3 The Gaming Wallet