The fast expanding Web3 gaming market is being led by Asia Pacific, where local gaming firms are promoting the use of blockchain-based games on a worldwide scale.
Web3 gaming is expanding quickly, making up 50% of the whole blockchain market in terms of on-chain activity. China alone has over 700 million gamers that are ready to adopt blockchain-based games, and Asia Pacific is currently setting the trend.
In the upcoming years, Asia may end up being the region that spearheads the global uptake of Web3 gaming. Currently, China, Japan, and South Korea are home to about two-thirds of the largest gaming companies in the world.
The Sandbox and Axie Infinity’s creators, Animoca Brands and Sky Mavis, are two of the main companies in this burgeoning trend, and their influence is already permeating Web3 gaming.
Asian businesses are expanding outside
Numerous Asian businesses are looking into international markets to encourage the spread of Web3 gaming. One of them is the publicly traded Chinese corporation Giant Network, which has been making headway in Asian markets for almost 20 years. During the 2023 Game Developers Conference in San Francisco in March 2023, Giant Network unveiled its new Web3 gaming brand for the international market.
The new company, ZTimes, seeks to use Web3 infrastructure to develop a new generation of video games. Its objective is to investigate novel business strategies, create games with fresh ideas, and give players more control.
ZTimes highlighted its three main business divisions product, technology, and investment at the conference. Also, it introduced two brand-new Web3 games that are now in development:
- The Road of Conquering — a massive-multiplayer online game
- The Wandering Giant — a strategy game that integrates nonfungible tokens
More than 100 seasoned game developers and researchers will support ZTimes. They aim to create Web3 games, maintain them, and provide players with complete control while staying unobtrusive. ZTimes wants to create a Web3 gaming ecosystem where users regain ownership of game assets and where in-game goods can be freely exchanged.
Without any transaction restrictions or price caps imposed by the games, players will be able to buy and sell in-game items such as equipment, props, and accessories within the community. Individuals will have the freedom to choose their own prices and carry out transactions on secondary marketplaces or within the ecosystem. This allows customers the ability to fully control their hard-earned funds and enjoy a range of intriguing and social trading activities.
Aiden, a co-founder of ZTimes, said:
“We are thrilled to have the opportunity to create an international brand and advance toward our vision of a new gaming era. We are dedicated to bringing new value to players and the gaming industry as a whole. To increase our brand value globally, ZTimes will focus on research and development, building channels and strategic investments.”
ZTime will use Giant Network’s expertise, which is its parent firm. It aims to ensure that both Web3 and conventional gamers may play its games. As Web3 material won’t interfere with standard gameplay, non-Web3 gamers will be able to enjoy more than 80% of the game’s content without needing to comprehend blockchain complexities.
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In fact, the primary goal of Web3 gaming should be gameplay. Poor gameplay was listed as the second most significant barrier to widespread adoption in a Blockchain Gaming Alliance study, with 36% of participants claiming that gameplay enhancements will be the main factor in driving Web3 gaming adoption in 2023.
Blockchain-based games empower players and offer a wealth of new features, but in order to compete, they must incorporate the greatest elements of conventional games. As a result of its sustained dominance in traditional gaming, Asia is now in a prime position to do the same in Web 3.