By Michael Scott
The recent statement from Bandai Namco’s corporate development executive Karim Farghaly, Web3 in Asia lacks the sigma witnessed in the West. Bandai Namco is a Japanese video game publisher famous for titles such as Dark Souls, Elden Ring, and retro classics such as Pac-Man and Tekken.
Bandai Namco’s executive admitted that the gaming publisher is carrying out research and development (R&D) to assess the benefits of the mobile blockchain gaming sector in the Asia market.
Speaking at the Esports and Gaming Business Summit this week, Karim Farghaly, the publisher’s SVP of corporate and development, revealed his view concerning blockchain’s likely role in video games.
Asia Witness High Adoption of Crypto Games
Farghaly also disclosed what the studio is exploring in the crypto sphere. The executive recalled working for eight years under Bandai Namco’s American division. He claimed that Bandai Namco evaluates how blockchain integrations are compatible with its mobile-focused business model.
Farghaly indicated that they have experimented internally with establishing how Web3 infrastructure could function. He added that from the Asian perspective, he collaborates with a group in Tokyo via the firm’s corporate planning that considers these things and the variations between the Asian and Western markets in terms of Web3.
Karim added that Web3 does not have the criticism felt by games in West Asia. He also claimed that the initial successful games in Web3 and crypto that will begin attracting significant audiences will be in Asia.
Reviewing the Suitability of the Asian Crypto Market
In Asia, reduced stigma surrounding blockchain games translates to additional activity. This has been established to be true because, compared to the Western world, more prominent Japanese and Korean publishers have been involved in the development of blockchain games.
Concerning blockchain gaming activity in Asia, Farghaly claimed that a lot is happening there. For them, it is a bit difficult due to the criticism associated with Web3. He also said he was slightly shocked since he knows about significant intellectual properties viewing the Web3 space.
The presence of stigma in the west is a limiting factor to unveil Web3-based projects since they experience limited acceptability. It explains the declined units of blockchain games unlike in Asia where the audience embraces Web3 technology.
Similar to Sega, Bandai Namco has also partnered with Double Jump.Tokyo, a blockchain company, to create blockchain games. In the summer, the game publisher introduced Ryuzo, an artificial intelligence-backed virtual pet game.
It allows players to own Ryu creatures in the form of nonfungible tokens. The Ryu nonfungible tokens are present on the Oasys blockchain.
Factor Contributing to the Development of Crypto Games
The game publisher has invested in Oasys, and Ubisoft and Sega intend to develop projects on the same chain. Farghaly claims that via their VC fund in Japan, they have invested in numerous Web3 forms.
Farghaly referred to Oasys, Genesis, a nonfungible token wearables firm, Gaudy, a Web3 community platform, and Double Jump.Tokyo. The executive views an extraordinary value proposition in blockchain games, particularly for whom he calls the gaming world’s ‘whales.’
Karim reiterated that possessing a digital asset and the capability to trade, sell, and keep it for the gamers, particularly those who tend to spend on games. The corporate development head is also confident that the mobile gaming sector will guide the way.
Specifically, he claimed that mobile is likely to boost Web3 and crypto since there is a blend of Google and iOS allow one to take the asset and mint it. Farghaly concluded by saying they are likely to witness that compared to anything else.
Most likely, mobile is slightly ahead, and PC will have it. However, a PC that lacks multiplatform is only a PC. Ultimately, that is perhaps not where they are looking at their audience.