The Asian region has pioneered some of the most popular games globally such as Pokémon and Pac-Man. Recently, it has been positioning itself as a hub for blockchain gaming. In many ways, the marriage between blockchain and gaming has been quite natural. For instance, gamers were some of the earliest adopters of crypto mining using their GPUs.
Why Blockchain is so important for Gaming
Blockchain is quite important to the gaming industry due to the transparency that it offers. Additionally, the security and immutability of the blockchain are quite useful to the gaming world. With blockchain technology, in-game tokens can have real-world value. They can be traded on exchanges for fiat currency.
The blockchain technology makes it possible to have secure ownership of digital assets. In the gaming world, some digital objects can cost hundreds of dollars. In fact, some of these digital assets are so valuable that they are a regular target of hackers. With the blockchain, it will be possible to protect the value of these digital assets. By using smart contracts, it will help to ensure that once someone pays for an asset, it is transferred to them.
Asia’s Legacy of Innovation in the Gaming World
One of the most popular games in the crypto world is CryptoKitties. At one point, it was so popular that it clogged up the whole Ethereum network. However, what many people might not realize is that most of the gaming mechanics used in the game resulted from Asian innovation.
Since the CryptoKitties game launched, many others have been launched. One example of this is the My Crypto Heroes game that utilizes by Nintendo games such as Mario. Another one is Axinfiity, which utilizes a designed style inspired by the Japanese kawaii style.
Asia Has Everything Needed for the Blockchain Gaming Future
Asia is perfectly positioned to take advantage of the use of blockchain technology in the gaming world. Asian developers already have a clear example of what it takes to create successful games. Just as Mario Run and Pokémon Go helped to bring traditional gaming companies into mobile devices, Asia and especially Japanese developers are taking the lead in the development of blockchain games. For instance of the top 10 blockchain games listed on DappRadar, about five of them are developed by developers in Asia.
A lot of Untapped Potential
Even in its early days, it is clear that there are many untapped opportunities within the blockchain gaming world. One area that is showing real potential is the area of micro transactions using crypto. There is already a lot of appetite for such transactions. For instance, a recent report from Japan showed that in 2018, 3.5 million people made spot transactions using crypto on exchanges.
Developers are also working to create solutions for facilitating crypto transactions. For instance, the Enjin coin, based in Singapore, has created a crypto coin for use in the purchase of in-game objects. The project received a lot of attention when its logo was featured during the launch of the Blockchain Keystore product developed by Samsung.