How popular are crypto games in Japan?
Japan is home to a significant number of cryptocurrency users and investors. In terms of global crypto trading volume, Japan is one of the largest economies in the world and continues to grow. When it comes to crypto regulation, Japan is leading the way, and since 2016, Japan has officially recognized crypto as a form of payment. Therefore, crypto is used in Japan for all types of entertainment and products, including games. How popular is crypto gaming in Japan?
Legal Blockchain Gaming in Japan
It is always important to consider the legality of crypto games before playing games with the virtual currency in Japan. The Japanese parliament introduced a bill in March 2018, and this brought cryptocurrency under the scrutiny of the Financial Services Agency. The agency regulates all investment and banking in Japan, and that means the FSA oversees the legality and standards of crypto in the country. This applies to all legal crypto exchanges, so those who want to participate in crypto games know that it is safe. The extra security measures mean that more people have been willing to try to adopt crypto games in Japan. Enjin Coin recently became the first gaming cryptocurrency to be approved by Japanese regulators, and it has been approved in partnership with Hashport.
Mobile crypto gaming
Mixi, CyberAgent and LINE are three of the biggest companies involved in mobile crypto gaming in Japan. However, thanks to the increased popularity of mobile cryptogaming, smaller mobile gaming companies have started to appear in the market, focusing specifically on cryptogaming. Ateam and KLab are two good examples of new mobile-based cryptogaming companies, and Mobile Factory has spent the last two years moving towards cryptogaming. Not only has the number of people playing crypto mobile based games increased recently, but the traditional mobile gaming market is so competitive that companies are turning to crypto gaming in an attempt to gain a foothold in the market.
Established video game companies
Such is the increased popularity of cryptogaming, some of the biggest names in video game development in Japan have taken the plunge into the industry. The best example is Bandai, a game company known all over the planet thanks to the success of their video games. Konami and Capcom have also taken steps into the crypto game market, but the two biggest names in Japanese video games, Nintendo and Sony, have yet to take the plunge. My Crypto Heroes, Contract Servant, PolkaFantasy and CryptoSpells are all examples of popular blockchain-based games.
How gaming in Japan can benefit from crypto
Gamers in Japan, especially online gamers, purchase additional content when playing video games. This has become one of the biggest ways for video game developers to make more money and for players to enjoy updated games. Financial transactions when gaming is not always easy, but using crypto is instant, safe and easy. This increased online security is a huge benefit to the user experience and is responsible for other gaming sectors such as online cryptocasinos using this technology for added security. Using the blockchain when playing games means that all transactions will be recorded in a public ledger, eliminating the chance of fraud. Another advantage of crypto for gaming in Japan is the player’s anonymity because crypto does not require the use of accounts, which means that privacy is protected. So there are many ways that gaming in Japan can benefit from crypto.
