How Web3 Is Revolutionizing Japan’s Gaming Indus
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Posted On: 02/20/2024 5:09:36 PM
How Web3 Is Revolutionizing Japan’s Gaming Industry
Japan’s gaming sector was once the most dominant on the globe as companies such as Sega and Nintendo captured the majority of the console game industry and released hundreds of classic games. Cultural icons such as Pokemon emerged from China and were among the first games to blur the line between the digital and physical world.
The industry began to decline more than a decade ago with the introduction of stronger game consoles such as the Xbox. Japanese developers had trouble adapting to consoles with PC architecture while Western developers were already well versed in developing games for PC, giving them a leg up as gaming consoles became exponentially stronger.
However, blockchain technologies and cryptocurrencies may allow Japan to regain some of its old game-developing glory. Web3, a next-generation iteration of the internet that connects users via decentralized networks, is giving the Japanese gaming industry a new lease on life via a play-to-earn gaming model.
While still a niche and relatively new industry, the play-to-earn segment has seen a lot of recent publicity with the launch of titles such as Axie Infinity. This model allows players to earn real financial rewards for beating opponents, creating a system where players are essentially paid to play their most loved video games.
Japan is one of the first countries to jump into the fledgling Web3 gaming industry and has the potential to secure large portions of the segment. For starters, the Japanese government is one of the few national governments that have adopted Web3 policies, with Prime Minister Fumio Kushida stating last year that Web3 is part of the new form of capitalism.
In late 2023, the United Arab Emirates Web3 gaming platform GAM3S.GG partnered with Pacific Meta to bring Web3 gaming to the mainstream. The partnership will see Pacific Meta, a Web3 marketing firm, help GAM3S.GG onboard Japanese Web3 gaming projects to its platform.
With the government adopting a forward-thinking approach regarding Web3 and Web3-based content, the industry has the potential for significant growth. Japan is known for pushing the bounds of technology and has contributed to the global gaming industry in prolific ways, making the country an attractive prospect for talented Web3 developers looking to flex their creative muscles.
One gaming project dubbed OASYX Series 2 allows players to raise NFT-based lifeforms similar to how Tamagotchi and Pokemon let players nurture small creatures. Large Japanese game developers such as Square Enix, Ubisoft, Bandai Namco and Sega have expressed interest in Web3 and are all developing their blockchain gaming projects.
Web3 isn’t only making its mark upon the gaming industry. Enterprises such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) are leveraging its capabilities in industries such as healthcare ecommerce.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL
Please see full terms of use and disclaimers on the Web3MediaWire website applicable to all content provided by W3MW, wherever published or re-published: https://www.Web3MediaWire.com/Disclaimer
Japan’s gaming sector was once the most dominant on the globe as companies such as Sega and Nintendo captured the majority of the console game industry and released hundreds of classic games. Cultural icons such as Pokemon emerged from China and were among the first games to blur the line between the digital and physical world.
The industry began to decline more than a decade ago with the introduction of stronger game consoles such as the Xbox. Japanese developers had trouble adapting to consoles with PC architecture while Western developers were already well versed in developing games for PC, giving them a leg up as gaming consoles became exponentially stronger.
However, blockchain technologies and cryptocurrencies may allow Japan to regain some of its old game-developing glory. Web3, a next-generation iteration of the internet that connects users via decentralized networks, is giving the Japanese gaming industry a new lease on life via a play-to-earn gaming model.
While still a niche and relatively new industry, the play-to-earn segment has seen a lot of recent publicity with the launch of titles such as Axie Infinity. This model allows players to earn real financial rewards for beating opponents, creating a system where players are essentially paid to play their most loved video games.
Japan is one of the first countries to jump into the fledgling Web3 gaming industry and has the potential to secure large portions of the segment. For starters, the Japanese government is one of the few national governments that have adopted Web3 policies, with Prime Minister Fumio Kushida stating last year that Web3 is part of the new form of capitalism.
In late 2023, the United Arab Emirates Web3 gaming platform GAM3S.GG partnered with Pacific Meta to bring Web3 gaming to the mainstream. The partnership will see Pacific Meta, a Web3 marketing firm, help GAM3S.GG onboard Japanese Web3 gaming projects to its platform.
With the government adopting a forward-thinking approach regarding Web3 and Web3-based content, the industry has the potential for significant growth. Japan is known for pushing the bounds of technology and has contributed to the global gaming industry in prolific ways, making the country an attractive prospect for talented Web3 developers looking to flex their creative muscles.
One gaming project dubbed OASYX Series 2 allows players to raise NFT-based lifeforms similar to how Tamagotchi and Pokemon let players nurture small creatures. Large Japanese game developers such as Square Enix, Ubisoft, Bandai Namco and Sega have expressed interest in Web3 and are all developing their blockchain gaming projects.
Web3 isn’t only making its mark upon the gaming industry. Enterprises such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) are leveraging its capabilities in industries such as healthcare ecommerce.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL
Please see full terms of use and disclaimers on the Web3MediaWire website applicable to all content provided by W3MW, wherever published or re-published: https://www.Web3MediaWire.com/Disclaimer
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