Web3 gaming is taking off as sentiment improves and restrictions peel away. | Credit: Credit: Hameem Sarwar for CCN.
* Immutable was founded in 2018 and launched the “world’s first” multiplayer Web3 game.
* Founder Robbie Ferguson believes Web3 gaming will onboard the most users to crypto
* The Web3 gaming market is predicted to be worth over $100 billion in the next decade. It is currently worth an estimated $21.6 billion.
Video games are the biggest entertainment category on the planet, far outshining movies, TV, and music combined.
But when paired with blockchain tech and cryptocurrencies, they’re not as popular and are often looked upon with great skepticism.
That is, until 2025, when things suddenly began to shift.
Immutable is one of Web3 gaming’s first-movers with a bustling library of games and tech under its roof. We spoke with its founder, Robbie Ferguson, to see what’s driving these changes today.
Turning a Love for Games Into Immutable’s Web3 Powerhouse
Ferguson, who runs a major Web3 firm and has also been spending time playing Immutable-based MMORPGs RavenQuest and Treeverse, says these titles are “crushing it” when it comes to community engagement and world-building.
But he’s also excited for some of the firm’s upcoming launches, namely Might & Magic Fates in partnership with Ubisoft, along with a couple of other projects.
“Outside the Immutable ecosystem, I still keep tabs on the big hitters. I’m excited about the new Assassin’s Creed — I think it’s one of those franchises that keeps reinventing itself — and the upcoming Battlefield 6, which could be a real return to form for the series,” he said.
Ferguson believes that innovation comes from genuine passion, recalling the years he spent playing RuneScape and League of Legends (LoL) with his brother, obsessing over and immersing themselves in their communities, worlds, and economies.
“When blockchain and NFTs emerged — like the infamous CryptoPunks collection in 2017 — it led us to the lightbulb realization that digital ownership could be transformed and completely take over gaming,” he said.
Immutable was founded a year later, in 2018, with a vision to bring “the next billion users” to Web3 through video games, which Ferguson noted is the largest entertainment category in the world.
Things kicked off with Etherbots, which Ferguson touted as “the world’s first multiplayer Web3 game” and an “incredible crash course” in game development.
Seeing the potential in player-owned assets, the team moved early to upgrade gaming, leading to the release of Gods Unchained, an NFT-powered trading card game (TCG) that still records solid trading activity to this day.
“I often say that in crypto you feel like you’re living in dog years — markets shift and crypto cycles change sentiment all the time — but the constant is that the next generation of successful games will have blockchain technology integrated, and digital ownership does and will mean everything to gamers,” he said.
Using lessons learned from Etherbots and applying them to Gods Unchained, the team eventually felt the pinch of Ethereum’s transaction costs and scalability issues — leading to the creation of Immutable’s own network.
Converting the Skeptics
Web3 gaming’s reputation has long been in flux. Many titles that make it into the mainstream are tied to earning mechanics, only to leave players disappointed when the hype fades.
But in 2025, the landscape is shifting. Games like Off the Grid (OTG), EVE Frontier, Pirate Nation, Illuvium, and others are driving adoption through high-quality gameplay, each with its own level of Web3 integration.
Perhaps most importantly, many of these titles are making crypto, NFTs, and blockchain optional — allowing players to engage purely for fun if they choose.
“I think that player skepticism is healthy and completely rational. Gamers have seen a lot of hype and new play models over the years, so it’s on the industry to prove utility and real benefits,” Ferguson said.
One of the biggest recent moves came from Ubisoft, which partnered with Immutable to bring the beloved Might & Magic franchise back as a Web3 trading card game (TCG).
In Might & Magic: Fates, players can collect, trade, and battle with cards unlocked through gameplay. Those who want to take it a step further can mint cards as NFTs and trade them on external marketplaces — but without gaining any competitive advantage.
“Not spending simply allows a maximum number of users to play the game,” Ferguson explained. “The idea is that the usual Web2 mobile players will be in a very familiar environment, but if you want to explore further — trade rare cards, etc. — then the Web3 option allows you to do so.”
He added that the reception so far has been positive, with the community embracing the freedom to choose. Players can dive into blockchain features if they wish, but know their progression isn’t locked behind Web3 elements if they don’t.
Nostalgia Bait?
The Ubisoft partnership reflects a broader trend in the gaming industry — Web3 studios teaming up with beloved titles and classic IPs, breathing new life into them with a blockchain twist.
MapleStory now has MapleStory N, Ragnarok Online has evolved into Ragnarok: Landverse Genesis, and even Flappy Bird is winging for a Web3 comeback.
Under Immutable’s wing, one of Web2’s biggest early successes, Habbo Hotel, will return as Habbo X.
“We’re seeing new life for the game because Web3 combines the best of both worlds — reconnecting with your Habbo nostalgia and its vintage pixel-art style, while also letting you truly own your assets, like Habbo Avatars or PFPs, and giving you the ability to trade, collect, and create,” Ferguson said.
For him, it’s “awesome” to see established Web2 studios embracing Web3. He believes the push is being fueled by the user acquisition and retention benefits that tokenization can offer, giving players both emotional connection and tangible ownership.
From Play-to-Earn to AAA-Quality Web3 Worlds
With so many ways to weave Web3 and crypto technology into a game, the subgenres of blockchain gaming have exploded.
Ferguson points out that the industry is experimenting with a wide range of models — some lean heavily into play-to-earn (P2E), others put more emphasis on asset ownership and NFTs, and plenty fall somewhere in between.
“At the end of the day, the pure enjoyment and fun that comes from playing a game is imperative,” he said. “But it’s important to explore and experiment with different models because there’ll always be different subsets of gamers, and there is always room to improve and provide real value.”
One of the most ambitious projects on the horizon is Star Atlas, a sprawling Solana-based gaming universe with a budget in the hundreds of millions.
It’s a content giant, split into a single-player game, an MMORPG, a strategy card game, and more.
“It’s certainly exciting to see the Web3 gaming industry mature with more and more high-budget releases,” Ferguson said. “Projects like Star Atlas show us that there are now Web3 games with production values and budgets that can rival major AAA titles.”
For Ferguson, this is a sign that studios are confident enough to make long-term bets — and that releases like these will help shift the perception of Web3 gaming to something simpler: “This is just gaming, but better.”
Regulatory Clarity Sets Stage for Major Studio Token Launches
Web3 gaming’s breakout year in 2025 isn’t the product of hype or a shiny new gimmick — it’s the result of years of steady building.
For a long time, though, progress was held back by one major obstacle: regulatory uncertainty in the U.S.
Today’s top titles — like EVE Frontier, The Sandbox, and Star Atlas — blend crypto, NFTs, decentralized finance (DeFi), staking, governance, and an array of other Web3 features into intricate token economies.
But those same systems often landed in a legal gray area, depending on the jurisdiction.
Now, with the CLARITY Act in place, game studios finally have what Ferguson calls “a clear legal pathway to launch a token.”
With those barriers gone, he believes the floodgates are about to open.
“In fact, I’m in conversation with numerous multi-billion-dollar studios,” he said. “To them, tokens are one of the most powerful UA and retention mechanisms for games, because they help solve their toughest challenges.”
For players, Ferguson says the shift will mean a chance to engage more confidently with crypto-powered games — especially as higher-quality titles arrive.
“Not to mention, these games also offer great benefits to players, like real ownership and rewards for engaging in the community, for being a part of something,” he added.
Immutable Targets Top Spot in Web3 Gaming by 2026
Although 2025 has marked Web3 gaming’s biggest year yet, Immutable isn’t planning to slow down.
The goal, by the end of 2026, is to become “the best gaming chain, wallet, and growth offering in the market.”
It’s a mission the company has held since day one — but as the industry snowballs into mainstream success, the competition is only getting tougher.
“We want to help the biggest games in the entire gaming market grow, promote digital ownership, and onboard players into Web3,” Ferguson said. “To do this, we’ll keep bringing as many games onto the platform as possible, and making sure the most beloved, viral games find their audience for years to come.”
Looking ahead to Q1 2027, Ferguson says Immutable will double down on partnerships and expansion into Web2’s $100 billion market.
Right now, Web3 gaming tokens sit at a $21 billion market cap — but Ferguson believes that figure could more than quadruple over the next decade.
Ferguson Sees Web3 Gaming Barriers Falling Like Stablecoin Restrictions
For a while, it seemed like Web3 gaming would remain siloed in its own niche of the gaming and crypto world.
However, titles like Off The Grid — which launched on PlayStation 5 and Steam — are proving that attitudes are beginning to shift.
That said, Off The Grid’s crypto and Web3 features remain heavily restricted. In Ferguson’s view, those limitations will fade over time as crypto becomes a normal part of everyday commerce.
He points to the regulatory momentum behind mass stablecoin adoption, driven by its clear utility in payments.
Stablecoins offered solutions to the payments industry that it didn’t even know it needed. “Just look at the regulatory tailwinds that mass global stablecoin adoption has brought,” he notes.
Ferguson believes Web3 gaming will follow a similar path. Once developers present real, forward-looking use cases and innovative solutions, the barriers will start to fall. “Restrictions will begin dropping off one by one,” he adds.
Read more on CCN – Capital & Celeb News
