In recent years, game companies have begun shifting from Web2 to Web3. In Asia, these companies have started to see the potential of Intellectual Property (IP) and market share in exploring blockchain and NFTs.
The Potential of Web3 Gaming in Asia
Asia has tremendous potential in the web3 gaming sector, as it has the largest number of global gamers, reaching 1.7 billion or around 55% of gamers worldwide.
According to Chaindebrief data, Asia recorded game revenue of $72 billion, which is 52% of the total annual game revenue worldwide in 2019.
The gaming industry in Asia is dominated by East Asian countries, particularly China, Japan, and South Korea.
This is evidenced by the fact that out of the 100 largest game companies in the world based on market capitalization, 62 of them come from these three countries.
9 Companies Adopting Web3 Gaming
Here are 9 game companies that have already or are planning to launch projects in the web3 gaming industry.
- Sony Sony entered the blockchain world with its latest patent application for NFT technology. This shows its commitment to creating a digital infrastructure standard for gamers to own and transfer NFT digital assets across platforms, with the aim of enhancing user experience and expanding its business.
- Bandai Namco Bandai Namco strengthened its NFT plans by launching Side-G, a Gundam-themed gaming and interactive media network. It will include Gunpla models, esports, and games within the Gundam metaverse. This move will help the company expand its blockchain efforts.
- Wemade South Korean game company WeMade has experienced significant growth due to the success of its blockchain game, Mir 4 Global, which is based on the popular IP game The Legend of Mir.
After the token management game price dropped, WeMade decided to launch its own Layer-1 blockchain, WEMIX Chain, to build the entire blockchain ecosystem. The company has a market capitalization of $2 billion.
- Netmarble South Korean gaming giant Netmarble has chosen blockchain as its new growth engine and entered the market with the Klaytn-based Marblex platform and the BSC-based FNCY entertainment-oriented platform.
Marblex has 13 million users and 22.5 million game downloads in 2022, and will launch a new game in 2023 that leverages its core IP, Let’s Get Rich. Netmarble hopes to expand its reach in the blockchain market through these two approaches.
- Com2US South Korean game company Com2uS is developing the XPLA PoS blockchain using the Cosmos SDK. The company is known for its successful mobile game Summoner’s War and hopes to expand its gaming reach by leveraging blockchain technology.
- Square Enix Square Enix is a Japanese game company that popularized Final Fantasy and Dragon Quest. The company is planning blockchain games as its mid- to long-term growth strategy.
They are developing the NFT game “Symbiogenesis” based on 10,000 NFTs and will be launched on the Polygon blockchain. This shows that Square Enix plans to further explore the potential of blockchain games in the future.
- Sega Sega, Japan’s largest game company, will launch its first blockchain game at the end of 2022 in collaboration with another Japanese development company, Double Jump Tokyo. The game is based on the Sega Sangokushi Taisen franchise and will be built using Oasys to support its blockchain elements.
- Oasys Japanese blockchain-based game company Oasys has successfully raised more than $5 million in funding from
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