The inaugural edition of the Gam3 Awards — a new Web3 gaming awards event hosted by Polkastarter Gaming — is set to take place on Dec. 15, according to an announcement provided to Cointelegraph on Nov. 14.

The awards ceremony intends to recognize this year’s best Web3 games, highlight the developers behind them, and showcase blockchain as a net plus to the gaming industry. In the announcement, the Gam3 Awards said it hopes to celebrate the future generation of Web3-gaming builders by inviting game studios to nominate and recognize their own employees, developers and professionals across specializations who represent the future of Web3 gaming.

The event is set to be simultaneously broadcast across Polkastarter Gaming’s Twitch, YouTube and Twitter channels and will feature a jury comprising over 30 gaming and Web3 thought leaders, ecosystem partners and media outlets. Winners of the first Gam3 Awards will receive a portion of the $300,000 worth of prizes from sponsors such as ImmutableX, Blockchain Game Alliance, Machinations, Naavik and Ultra.

The event is set to bring together industry leaders, ecosystems and media outlets to reward the top game developers and content creators within the Web3 gaming ecosystem. Speaking with Cointelegraph, a representative confirmed that the venture capital firm Bitkraft would also be joining as a partner and member of the jury.

Judges will weigh each game based on multiple criteria including core loop, graphics, accessibility, replayability factor, fun elements and overall playing experience. Winners will be awarded based on categories such as “action game,” “mobile game,” “adventure game,” “casual game,” “RPG,” “shooter game,” “graphics,” “strategy game,” “card game,” etc.

Related: Crypto gaming needs to be fun to be successful — Money doesn’t matter

Despite the continuing bear market, Web3 and blockchain-based games appear to be growing in popularity and doing quite well. According to the analytical service DappRadar, blockchain games and metaverse projects raised $1.3 billion in the third quarter of 2022. The company’s research revealed that “gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 912,000 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in September.”