According to a recent report by DappRadar, Asia represents a critical market for the Web3 gaming industry. This is due to the fact that it already houses the majority share of gamers and gaming revenue, as well as exhibiting a high interest in blockchain technology. With over 1.7 billion video game players, the Asian market accounts for 55% of the world’s total gamers and more than half of global gaming revenue. Moreover, China, Japan, and South Korea are home to 62 of the world’s top 100 gaming companies by market capitalization.
Despite China’s ban on crypto and prohibition on integrating blockchain technology into games, Japanese and South Korean gaming companies are leading the way in the adoption of blockchain technology in gaming. For instance, Sony recently filed NFT-related patents, while Sega announced its upcoming blockchain game. A survey cited in the report also revealed a promising outlook for the Japanese blockchain gaming industry, with just over 40% of respondents familiar with blockchain games, and over half of those familiar having a favorable impression of them.
The report also highlighted that the Asia region “plays a crucial role in the adoption of blockchain gaming” due to its current gaming domination. Furthermore, the report emphasized the importance of visual quality and game experience for gamers when evaluating a new game, as well as the significance of airdrops in motivating gamers to try out new games. Gamers still expect to receive airdrops before starting a new game, making them an essential factor in game adoption.