Pi Network Aims to Become the 'Steam of Web3' with Mobile-First Gaming Ecosystem

Pi Network, founded in 2019 by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, is making a significant push into the Web3 gaming space with plans to create a decentralized platform akin to Steam. The network, which began with a mobile mining approach allowing users to earn Pi coins without draining battery life, has grown to over 50 million users across more than 150 countries.

The platform's vision includes launching its open network stage in 2026, enabling connectivity with external exchanges and Web3 ecosystems. Key features center on using Picoin for seamless, low-cost cross-border payments, real-time analytics for developers to track player behavior, and robust security through blockchain identity and end-to-end encryption. This mobile-first design supports scalability for millions of simultaneous users, backed by a global community of Pioneers who help certify transactions and drive adoption.

However, Pi Network faces challenges from regulatory bodies like the EU's MiCA and the U.S. SEC, as well as competition from established Web3 gaming platforms such as Immutable X, Gala Games, and Axie Infinity. Despite this, its focus on accessibility and decentralized payments positions it to potentially reshape the gaming industry.