Web3 Gaming in Asia ‘Crucial’ For Sector Development, Says New DappRadar Report

By Srikanth
2 Min Read
How will Web 3.0 change internet

Asia occupies the majority of share of gamers in the whole world. Due to this fact, the Web3 gaming industry seems to be hopeful of expanding the sector in the continent. The gaming community of Asia has gained a maximum amount of revenue. The Asian nations of India, China, Japan, and South Korea are collectively having about 1.7 billion video game players. With effect to this, the Web3 gaming community is gaining the focus in market.

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It has been estimated and checked that 55 % of the global gaming community resides in Asia. Asia has a contribution of over $72 billion in annual gaming revenue. The blockchain gaming market in Japan has specifically shown the major interest of the gaming industry.

Anime-based NFT collections have recently attained remarkable traction in the market that consists of 10.73 % of the top 1000 NFT collections’ trading volume.

Polygon and Ethereum are instances of eco-friendly proof-of-stake (PoS) blockchains. Polygon and Ethereum have emerged as the top two blockchains. Both of these blockchains are developed for building Web3 games in Asia. 30.8 % of the market share is in the hands of Polygon that outshines Ethereum in support of Web3 games.

Bandai Namco and Wemade have begun incorporating blockchain-based elements such as NFTs and the metaverse in their gaming ecosystems.

Blockchain gaming is a nascent industry and has is looking forward to become the mainstream. It is one of the most significant opportunities for growth in the region, and with the rise of Asian gaming, the companies are shifting towards Web3 and embracing blockchain technology.

Bitget, a Seychelles-based crypto exchange has made the decision regarding facilitating $100 million in the Asian Web3 market.

As per the expectations, the second quarter of 2022, 58 % of web traffic from Asian nations to crypto services was directly related to the NFT. Apart from Ethereum and Polygon, the Algorand blockchain is also emerging as a popular blockchain among Web3 game developers.

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