Dec 02 (newsonjapan.com) - Reports suggest Japan is one of the world’s most active and profitable gaming markets. The country is known as home to some of the largest video gaming brands, including Nintendo, Sega, and PlayStation.
Japan is also home to several popular game creators, including Bandai Namco Holdings, known for the Tekken and Dragon Ball Z series, and Konami, known for Metal Gear Solid and Pro Evolution Soccer.
The Japanese gaming market is also very lucrative, raking in billions of dollars yearly. According to a video game revenue ranking for 2022, Japan was the world’s third largest, with 73.4 million players contributing to $19.1 billion in total revenue.
Factors Driving the Growth of Crypto and Blockchain Gaming in Japan
Game developers are increasingly infusing crypto and blockchain into their titles for the many advantages obtainable. Through blockchain technology, players enjoy more privacy for in-game payments and microtransactions used to further their progress during gameplay. In addition, the gaming experience is much more transparent since most blockchains are publicly accessible.
There also is the introduction of non-fungible tokens (NFTs), which allows players to truly own in-game assets to either further their progress in the game or earn from selling the items on public NFT marketplaces.
The gaming clime in Japan benefits immensely from stakeholders in the private sector who are gradually recognizing how valuable crypto gaming and native tokens are. This value has influenced investors to fund gaming titles that can attract the country’s large player base and crypto enthusiasts. In 2018, game publisher doublejump.tokyo launched My Crypto Heroes (MCHC), a role-playing game (RPG) on the Ethereum blockchain. The game quickly hit in Japan and became the world’s number 1 crypto title by trading volume and daily active users (DAUs).
Another factor directly benefiting crypto and blockchain gaming in Japan is the country’s regulatory climate. Japan has set itself apart from many countries by introducing supportive regulations encouraging developers and investors in the sector. The country boasts of friendly tax laws, easy regulation, and a healthy environment for crypto and blockchain businesses to thrive. Government agencies in Japan also revisit and reshape existing laws to better accommodate the crypto and blockchain businesses.
The easy legislation ensures that the country benefits from integrating blockchain with gaming, and also attracts developers willing to broaden the country’s blockchain gaming landscape. In addition to video games, Japan’s online gambling sector can enjoy the country’s supportive landscape. It allows players to enjoy bets on horse racing, Motorsports, and Pachinko, a popular game that combines elements of pinball and slots. Interested players can enjoy a premium casino experience and exciting sports bets at Lucky Block, using supported cryptocurrencies like Bitcoin (BTC), Ether (ETH), USDT, Litecoin (LTC), Cardano (ADA), Tron (TRX), and its native LBLOCK token.
The Future of Crypto Gaming in Japan
Despite its successes, the Japanese crypto gaming market has the potential to expand further. The industry has a long history of traditional games, which will likely become richer as developers infuse blockchain technology with the gaming culture. There is also a high potential for profitability as Japanese citizens are generally willing to pay well for top-quality games. This ensures that Japan's crypto gaming industry will likely remain lucrative.
In addition, Japanese developers are focusing more on creating games that support mobile gameplay and prioritizing simplicity in creating several titles. As gamers slowly transition to mobile gaming from traditional consoles, blockchain tech is set to grab a good chunk of the gaming sector and attract a combination of budding traditional players as well as crypto lovers.
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