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The story of today is about Japan, their gaming community’s on blockchain!
Japan is one of those few countries that aren’t hesitant to embrace blockchain technology in its games despite the crypto winter around the world.
Some of the biggest gaming companies in Japan are discreetly and gradually bringing blockchain technology into their virtual worlds, especially in video games.
Recently, Square Enix, the developer behind the massively popular Final Fantasy Series, found an internal division exclusively for blockchain projects. It was set up back in February and included Shi San Sei Million Arthur a collection of digital stickers. These stickers are also NFTs meaning the proof of ownership is present.
Moreover, these digital stickers recently crossed the 100,000 mark in sales just after the release of the 4th batch of the sticker collection.
However, an announcement from Square Enix makes it that it will introduce gaming elements to the digital collection. So, the next step is monetization according to Keisuke Hata, GM blockchain division, “one way to create a new revenue structure is by integrating gaming content.”
This experimentation is significant for blockchain tech and gaming, it might as well prove to be a litmus test. Moreover, it might as well improve the reputation of blockchain gaming which took a hit recently.
Furthermore, in July this year, the ministry of economy, trade, and Industry set up a Web3 Policy Office.
This office aims to speed up the policy-making for blockchain business. Moreover, the industrial lobbyists are also active in making changes to how the crypto coins taxation works. This step will help companies in launching and owning crypto digital assets.
This activity in government and business circles has motivated gaming companies to stick to the plans.
Bandai Namco Holdings recently launched a fund to invest in startups including those who are working on blockchain technology-based projects. Bandai Namco and Sega both aims to create a special blockchain only for games.
Lastly, CyberAgent, the developer behind Uma Musume, also set up a blockchain division earlier this year.
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