Report shows India could dominate 80% of the Web3 gaming industry

The Web3 gaming industry is expected to witness significant growth in Asia, according to a report by DappRadar. A recent study shows that Asia accounts for 55% of the global gaming population, with 1.7 billion gamers coming from the continent.

Asia is a top Web3 gaming market

Given the 1.7 billion players in Asia interested in gaming, 80% will constitute all the gamers interested in the Web3 industry. The number is significant because of the restrictions in some countries around gaming and crypto-related activities.

In China, Web3 gamers aged below 18 are allowed to play for an hour daily. In South Korea, blockchain games have been heavily scrutinized, and in some cases, they have even been banned entirely.

Despite the legal restrictions that have been put in place, the recent report by DappRadar argued that Nexon, a video game publisher based in Asia alongside the Square Enix game publisher working on the Symbiogenesis non-fungible token (NFT) game, has been gaining traction globally. The two games will run on the Polygon layer-two network, which has become a preferred blockchain for Web3 gaming.

The DappRadar study further said that the Asian market preferred the roleplay genre, with games such as Final Fantasy, Phantasy Star Online, and Genshin Impact attracting much interest.

Traditional game publishers show interest in Web3

Last month, the Game Developer’s Conference happened in San Francisco, showing the popularity that Web3 games are garnering. The Korean-based game publisher WeMade had one of the largest booths at the conference. WeMade plans to publish games in Korea without Web3 features before these games are released to the public.

The co-founder of Sky Mavis, Trung Nguyen, commented on this growth at the GDC conference saying that Web3 gaming was an ideal fit for the Asian market because of the kind of games the market was getting used to. At the time, Nguyen said that the objective was to have the best characters that people could locate and trade in the market.

Web3 games are increasingly becoming focused on gameplay dynamics, not financials. According to Nguyen, Western and Eastern audiences expected similar experiences.

Pacific Meta conducted a survey that involved more than 1,000 adults in Japan. The study found that 40% of these adults knew about blockchain games. Nearly 57% of the respondents also said that Web3 games appeared interesting, and only 10% said that they were not interested.

The survey also looked into the types of blockchain games that players were interested in. 773 of the 1,030 respondents who participated in the survey said they preferred the games to be free-to-play. Additionally, the initial cost of these games was a necessary feature.

538 respondents also said they preferred a game that could be played on a mobile phone. Some factors that players did not pay much interest in include player earnings, game quality, consoles, and top IPs.