Report: Asia to dominate 80% of Web3 Gaming Market

Report: Asia to dominate 80% of Web3 Gaming Market

According to a recent report by DappRadar and Japanese crypto company Pacific Meta, the Web3 gaming market could be dominated by Asian gamers.

Web3 gaming booming in the Eastern region

The report indicates that Asia presently has 1.7 billion gamers, representing 55% of the global gaming population, and is expected to increase to 80% soon. The popularity of role-playing games (RPGs) in the Asian market was also highlighted, with Nexon’s MapleStory Universe and Square Enix’s Symbiogenesis gaining momentum as examples of Web3 RPGs.

Despite some countries in the region implementing gaming restrictions, the report indicates significant interest in the Web3 gaming niche. Trung Nguyen, the Cofounder of Sky Mavis, the company behind Axie Infinity, has expressed his view on how Web3 gaming is a perfect match for the Asian market.

Furthermore, the report observes that as Web3 games shift their emphasis from financial gains to gameplay, both Eastern and Western audiences will begin to seek comparable experiences. In its study, Pacific Meta conducted a survey of over 1,000 adults in Japan and discovered that 40% of them were aware of blockchain games. Among those respondents who knew about these games, around 57% expressed their interest in Web3 games, while only about 10% did not find them appealing.

Players prefer free-to-play mobile games

Regarding gamers’ preferences for blockchain games, most of the participants stated that they would prefer games that are free-to-play, with a low initial cost being an essential feature. Over 530 respondents expressed their desire for the game to be playable on a mobile phone. Other factors, such as player earnings, game quality, consoles, and famous intellectual properties, scored lower on the list of priorities. Interestingly, the least significant factor was whether the game had a distinct use of blockchain technology.

The results of the study reinforce the widespread belief among many Web3 game developers that the crypto aspects of Web3 games should not be their primary focus. Instead, the platform and initial cost of the game may be the most crucial factors for gamers, at least in Japan.

Despite big brands like Razer and FIFA investing heavily in Web3 gaming projects, the report acknowledges that the industry has a considerable distance to cover before it achieves widespread adoption. Nevertheless, the research conducted by DappRadar and Pacific Meta offers valuable insights into the prospects of the Web3 gaming sector in Asia, which could emerge as a significant market for game developers in the future.

Moreover, the report emphasizes the significance of Polygon as the most favored network for Web3 gaming, as viewed by game studios. The platform has been utilized by numerous gaming projects and is increasingly gaining popularity due to its speedy and cost-effective transactions.

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