Bitget has stirred a significant discourse within the realm of Web3 gaming, advocating for a paradigm shift from the predominant "play-to-earn" model to a more nuanced "play-and-earn" approach. This nuanced perspective underscores the necessity for Web3 gaming platforms to prioritize not only economic incentives but also enriching gameplay experiences to attract and retain a broader audience, particularly mainstream crypto adopters.

Gracy Chen, the esteemed managing director of Bitget, has offered poignant insights into the current landscape of Web3 gaming. One of the chief criticisms she raises pertains to the disproportionate emphasis on economic gains over gameplay quality within many existing Web3 gaming ventures. This critique prompts a call to action for the industry to recalibrate its focus, placing greater importance on delivering immersive and engaging gameplay mechanics alongside monetary rewards.

Looking ahead to 2024, Chen articulates a vision wherein Web3 gaming platforms must pivot strategically to cater to the preferences of Web2 gamers, who may prioritize gameplay experience over financial incentives. This strategic pivot, she argues, necessitates a fundamental shift from the traditional "play-to-earn" model to a more holistic "play-and-earn" framework that seamlessly integrates both gameplay enjoyment and earning potential.

While acknowledging the historical dearth of user-centricity and gameplay depth in the Web3 gaming sphere, Chen observes a promising trajectory towards player-centric game development in the current market cycle. This optimistic outlook is partially attributed to the increasing involvement of seasoned Web2 game founders in the burgeoning GameFi sector, injecting fresh perspectives and expertise into the ecosystem.

However, amidst this wave of optimism, Chen remains pragmatic, cautioning against the pervasive prevalence of low-quality GameFi projects with inflated valuations. She underscores the importance of discernment among investors, urging them to allocate resources judiciously to projects that demonstrate tangible progress and a genuine commitment to enhancing the gaming experience for users.

Despite lingering concerns regarding gameplay depth and project quality, the allure of Web3 gaming remains palpable, evidenced by the robust investment activity observed across the industry. Notably, a significant majority of major gaming companies are now channeling resources into Web3 gaming initiatives, signaling a broader industry-wide acknowledgment of its potential.

Yet, challenges persist on the path to mainstream adoption and sustained growth. For instance, Pixelmon, a prominent GameFi project, recently secured a substantial $8 million seed investment round. However, the delay in the release of its flagship game, "Warriors of Nova Thera," underscores the complexities inherent in delivering high-quality gaming experiences within the Web3 ecosystem.

In spite of these challenges, the momentum behind Web3 gaming continues unabated. Recent data from DappRadar indicates a notable uptick in decentralized application (DApp) activity within the Web3 gaming sector, underscoring its resilience and enduring appeal despite the evolving landscape.