Asia Crucial to Web3 Gaming Industry
Jessie A Ellis Apr 15, 2023 11:33
A report by DappRadar highlighted the importance of Asia in the Web3 gaming industry, due to the region's majority share of gamers and gaming revenue, as well as its high interest in blockchain technology. While China prohibits gaming companies from integrating blockchain technology, Japan and South Korea are leading the way in adopting blockchain technology in gaming.
According to a recent report by DappRadar, Asia is a crucial region for the Web3 gaming industry, given its majority share of gamers and gaming revenue, as well as its high interest in blockchain technology. The report highlighted that the Asian market boasts over 1.7 billion video game players, accounting for 55% of the world's total. In addition, Asia houses over half of the global gaming revenue and has long been "the driving force" behind the global gaming industry.
DappRadar claims that due to these factors, the Asia region "plays a crucial role in the adoption of blockchain gaming." However, while China, Japan, and South Korea dominate the gaming industry in Asia, they have varying attitudes towards blockchain technology.
China, for instance, has banned crypto and prohibits gaming companies from integrating blockchain technology into their games. On the other hand, gaming companies in Japan and South Korea are "leading the way in the adoption of blockchain technology in gaming," the report says. It points to Sony's recent NFT-related patents and gaming firm Sega's announcement of its upcoming blockchain game as evidence of this trend.
A survey of 1,030 Japanese men and women ranging in age from their 20s to 70s cited in the report revealed a promising outlook for the Japanese blockchain gaming industry. It revealed just over 40% of respondents were familiar with blockchain games, and over half of those familiar had a favorable impression of them.
The report also addressed the Web3 industry on a global scale, highlighting that "visual quality and game experience" are "slightly" more important factors for gamers when evaluating a new game over other aspects such as entry price, the number of active users, and game economies. The report also emphasized the significance of airdrops in motivating gamers to try out new games. It was stated that airdrops are considered "an essential factor," with gamers still expecting to receive them before starting a new game.
It is clear that Asia will play a crucial role in the adoption of blockchain gaming in the coming years. While China's attitude towards blockchain technology remains unclear, Japan and South Korea have already begun leading the way in adopting blockchain technology in gaming. As the gaming industry continues to evolve, it is likely that blockchain technology will become an increasingly important factor for gamers and game developers alike.
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