By George Ward
Asia’s current domination of the Web3 gaming industry is impressive and crucial for the future of Web3 games. Currently, the continent’s Web3 gaming industry has 1.7B gamers and brings an annual revenue of over $72B,
Asia is the largest gaming market in the world, and with the rise of blockchain-based games, this market is becoming even more critical for the future of gaming globally. According to DappRadar, an on-chain analytics platform, Asia’s dominance in gaming is not just due to its large population but also its deep cultural roots in gaming.
Gaming has been a part of Asian culture for decades, with popular games like Pokémon and Final Fantasy gaining a massive following in the region.
Asia Controls Over Half Of The Global Gaming Market
According to a recent report by DappRadar, Asia plays a vital role in the Web3 gaming industry due to its enormous number of gamers, revenue share, and keen interest in blockchain technology. The report stated that nearly 56% of the world’s video game players (about 1.7B gamers) are in Asia.
Hence, the region is responsible for driving the global gaming industry, accounting for more than half of the worldwide gaming revenue. Thus, DappRadar suggests these factors mean that the Asia region has a significant role to play in the global adoption of the blockchain gaming industry.
Japan, South Korea, and China spearhead the gaming sector in Asia and house 62 of the world’s leading 100 gaming firms based on market capitalization. While China has banned cryptocurrency and does not permit gaming companies to incorporate blockchain technology into their games, South Korea and Japan are leading the way in the global adoption of games built on blockchain technology.
DappRadar’s report also cited Sony’s recent NFT-related patents and Sega’s announcement of an upcoming blockchain game as prime examples. A survey of 1,030 Japanese men and women between the ages of 20s and 70s cited in the report revealed that over 40% were conversant with blockchain games.
More than half of those familiar had a favorable disposition towards blockchain games, indicating a promising outlook for the Japanese blockchain gaming industry. The report discussed the global Web3 sector and noted that gamers prioritize “visual quality and game experience” slightly more when evaluating new games than factors like the number of active users, entry price, and game economies.
Additionally, the report highlighted the importance of airdrops in encouraging gamers to try out new games, stating that gamers see these “encouragements” as an “essential factor,” and expect them before they try out a new game.
Groups Urge Meta CEO To Protect Youth On Metaverse App
Meanwhile, a group of online safety experts and organizations has sent a letter to the CEO of Meta (Mark Zuckerberg) urging the company to abandon its plans to allow teenagers and young adults to join its virtual reality app, Horizon Worlds. The letter, signed by influential safety groups such as the Center for Countering Digital Hate, Airplay, and CommonSense Media, emphasized the need for Meta to assess the potential risks minors may face, including harassment and privacy violations.
The activists also recommended that Meta waits for more peer-reviewed research on the dangers of the metaverse before allowing children and teens to use it to ensure their safety. According to a March report from the Center for Countering Digital Hate, minors using the Horizon Universe app have been subjected to harassment from adults.
During 100 visits to the app’s most popular worlds, the study observed 19 instances of abuse directed at minors by adults, including sexual harassment. Therefore, safety experts have urged Meta to create a new path with its Metaverse project to protect young users.
They warned that if Meta allows minors into these worlds without taking the necessary precautions to protect them, it would again show the company’s lack of trustworthiness in safeguarding young people’s best interests.