Japan Blockchain Gaming Ecosystem

Transcript

of course uh can I just sit okay let's talk about games uh yeah uh so uh Welcome to our game ecosystem um planel as we see so actually in last year uh the game activities on chain is occupied about like 45% in the whole like blockchain activity so game is is big and today we're very delighted to uh invite all our distinguished um guests all from the award club top game Publishers game developers game platforms and yeah VCS that focus on games so like to um let everybody have a short introduction um yeah maybe we can

start from from Michael so I'm coup from from just just yeah cool so yeah Joseph Cooper I go by Coupe uh yeah long story on why I do that but we're earn Alliance we're the largest we three game aggregator 3500 games that have been curated on our platform all by our community and we focus on content versus the floor price we're also a game publisher we creating a game called last remains currently 400,000 users play it and don't know that they own cryptocurrency underneath the Hood um and is currently trending top five on the epic game store so I'll dive more into it as we keep going hello uh my is Ryan uh co-founder and partner Hash Hash started from 2016

we originated from uh Korea we uh kind of position as a bridge between uh us Market Western Market and Eastern Market uh now we have office in San Francisco Korea Singapore India and opening up the office in Abu Dhabi uh we are quite uh focusing on the gaming Market uh 2019 we are first investor of uh XT infinity and sandbox and down the road uh we incubated uh many gaming project like a society theas and like all other uh the gaming project as well and I um yeah happy to be here and discuss more about gaming um hi my name's Andy I'm from dlab games uh we're a game developer

publisher and also building a platform based in Soul South Korea um our founder and come from strong whip to uh background he was a former Nexon CEO and we've been in this space for about like three years now um you know we have uh one game already launched and two more to be launching very soon uh but as we see this uh gaming lands game we're uh continuously evolving we hope to just you know uh expand into you know better better games that have that right gaming experience for future hey everybody uh I'm Michael I'm with Mighty bear games which is a Singapore based game studio um I've been with the studio for about two and a half years now basically helping the studio from web 2 to web 3 um so my background I worked previously at a Japanese

company called double jump Tokyo um building my crypto Heroes back in the early days um and then Mighty bear has has been building games for eight years now uh with apple arcade and build a game called Disney mil Mania so it's done a lot of web 2 games and then about two and a half years ago uh went all in web 3 so we built Mighty action heroes and now we're building goat gaming which is basically a game ecosystem with might action heroes and other titles kind of like the mini clip of web 3 if you remember that um and my role is the product lead of good gaming hi everyone this is Anon IVC um yeah we have we3 VC from Japan and also we organize the IVs uh conference every year uh actually two of the game Studio

here like a mighty beer and also daps are actually our portfolios uh we've been investing into G since like 2021 and we also help incubating y Japan y southeast Asia and helping the the game Studio to grow in these regions um yeah and our f is actually back up by quite a few Japanese gaming studio including like Sega band Namco DNA mixi a Kazuki happy to be here thank you thank you thank you everyone and I want to show my um great gratefulness to all the you know everyone that comeing here and all the the atong organizing team and Auntie who mcing for us so little bit introduction for myself uh my name is we

plus I'm the head of IBS crypto um yeah also a member of IBC so we are doing um the largest crypto conference in Japan and also the main event for Japan blockchain week so it's all lasting the whole month six month in July and we just finished our main event uh three weeks ago in kyodo we got about uh 12,000 people um in the venue and also 307 side events which is one of the largest in Asia um as long as K KBW also um uh run by hash okay uh let's get it into our first question so actually uh tell you a little secret

maybe and even don't know uh I was actually a professional Esports player so for Hearthstone yeah I won the first Japan championship for the for the card game and so uh as a web two game player I'm really interested in web three game as well I'm having um steppen user actually like two two years ago so um just want to ask maybe for everybody here so why we need a block chain in games so what blockchain helps in in the game industry so anyone want to ask first okay Michael go thank you um yeah I mean I think there is a lot of different angles you could approach this you could look at

like fully onchain games you talk about the modding Community user generated content U what I like to focus on a lot is more like the the money layer that you add to games so my background I you know was playing MMOs since I was a teenager I was trading with in-game items um was like trying to obit stuff from like game forums and eBay and all that so I I always like the monetary aspect I also played off poker so I think like poker is more fun with real money than with with player money um so to me it's kind of adding this monetary layer to games to make basically trading um like a very native feature of these game ecosystems so you know if you buy an nft if you buy and sell a token um that is basically done trustless um you don't

get scammed anymore which you know I did back in the day I got scammed um so I think that's kind of the main focus and then we have started from like nfts and games with you know ax infinity and you know my crypto Heroes the game I was working on before and I think that evolved now more to erc20 tokens as they become kind of like the main liquidity like main form of liquidity so I think the games are more focused around erc20 tokens these days but obviously depends on the game um yeah so I think what what what solves blockchain gaming I think is just building games with this monetary layer that people just like so I think kind of like a new genre that's that's coming but I think this said like we haven't still figured out product Market fit for blockchain games you know it's

2024 we're still figuring the space out so I think there's a lot of design space still and it will probably take time to really understand what the games would look like in the future thank you Michael any other points um yeah so um like Michael I've actually been playing games all my life um not pro like you but I was like an amateur um DOTA League back then um but you know Korean MMO was probably my bread and butter when I was younger and you know what blockchain can really do I would say is you know the security layers is there the financial incentive is there but the whole ecosystem where uh traditional gaming involved around trading like you know like between gills or people you meet in an active trading Market that's actually very very

important to a gaming ecosystem to be very robust in uh having a long-term um you know life cycle with it so there are definitely better genres that can probably fit the needs of what blockchain tech is uh available right now but we're obviously looking um you know further down the road probably the next up to 10 years how this infra can also expand better but um you know more so just the financial incentives I would say um ownership is actually very very important because back then you know when we play any games all the items that we have acred like you know we're talking like 10 15 years ago you know they're probably all gone right now for most of us right uh but imagine if the tech is there you can still own it it's a piece of nostalgia it's a memory and you know how you can probably Translate

that into different ecosystems going further uh I think that's actually very exciting to be part of the space to look forward to although I know like you know where that's going to be right now we don't have that but definitely um the potential is there with blockchain thank you thank you Andy yeah adding from there know actually know I I can bring like one example that like uh one of the most successful uh game in Korea is a linage they started from 1999 and still like one of the top uhp top games uh for now and the reason why they can sustain for a long time is that they open for the market the user can own the asset and trade the asset in the third party uh website for one of the

strongest word in uh L is like uh the worth like uh 300K for now and still uh is a very rare and the castle there is like 1 to 2 million so once the people own that amount of uh money I mean worth of asset in in the game they cannot get off from the game they think that is life and and even know they can make money from there for example uh all the game money in L is uh exchangeable to Fiat money and vice versa so uh the user there especially heavy gamer uh that's for them this kind of their life and also uh we are learning a K-pop uh

Entertainment Company it's quite similar to game I think for example fan uh users uh they can own the the photo card of the the star then um they can participate into the governance of the K-pop Star also they can feel the the ownership of the K-pop so um this the blockchain uh enable the the game IP entertainment like uh give the ownership to the user and user actively participate into the game and ecosystem then and the eem flyh Learned very fast I mean this is awesome we're talking about lineage because I sold my first uh illegal content for 700 bucks

in lineage on the black market back in the day so super hardcore fan and um yeah I think the the whole concept of the black market is what we're really talking about here that could be open but then let's I think we really covered the game side the gamer side but like from a game developer Studio side is also a new way to make money right so when we look at like the free to a free-to-play audience like when we were saying hey let's make games for free and put them out people were like well you're going to spend years making games and then put it out for free like that's insane um but then this new monetization model of inapp purchases and ads came into play and made multi-billion dollar juggernauts right and then we're going on to where we're at today and we saw a

very great proof of concept which is still a huge experiment of a Infinity doing over $35 billion in transactions in 2021 that's not their revenue that's just just the market right and that's insane because what I see is that we're actually bringing in a new player into the game industry we usually call them uh minnows are people that spend $2 uh Dolphins spend 20 whales spend hundreds of dollars but there's this thing called monsters where our web three enthusiasts and they're spending millions of dollars into this space right so there's a new way for games to monetize and I think that's going to change landscape in a big way yeah probably just a few things to add on like beside the financial ization is probably something like a great

layers is like that's cre like differentiate for the web too um I think that in terms of like the developer like incentive it's also like uh much it's a much more fair way of like a revenue distributions as in the old ways probably a lot of times like Indian developers or like SM G Studio they probably need to be partnering out up with like the Big M Studios like help then helping out with the publishing they help like with the initial like foundings but then like when like the reeven the studio start generating the revenue like it's probably providing a probably not so fair way of like distributions and also like for bigger titles they you they probably needed to be working with like the third party like contractors and sometimes like

these contract comes with like a oneoff agreements and so after like the game is actually being published sometimes since like the interest is not as a align so you would actually the the third party probably wouldn't want it to be f fixing all the Bucks because even like a lot of like big titles within the first like weeks like a lot of like even like from the top Studios like there will still be a lot of bucks but then if some of the third party is actually in charge with that they probably have less incentive because they got one off fees but if like all the revenue aspect could be like moving on chin and all the revenue like generating possibly it could be like become more transparent so for like the entire ecosystem will also be like

in a more fair way and and also for like influencer like G streamers if they could be like helping to build the community inside the games a portion of the revenue should also like be more of like fairly like distributed um also like to add on top of the the trading like the features uh we also like have seen some of the games that by adding like the trading features especially for some of the open world games that like if the gamers are actually are willing to trade some of the like the in game message such as um for for you to move forward for some of the the games like progressing you probably need certain kind of like the element in order to fight like the big boss so if you needed such as like the water element or the fire elements you

probably in the old way you need to be like going around in the open world looking up for the items like probably for days but if you could be like trading immediately with other like players sometimes that could be satisfying like The Gamers OT emotional like levels in increasing the retentions actually for the games because the these days like Gamers actually getting very very impatient um usually like possessions sometime like the the it needed to be like reduced much much like shorter comparing to like the OA any kind of like the combats or like looking the open world yeah so I think that like there actually a few like um techniques like within like the web 3 is actually um making the whole Industries um not

just like the gamas like ownerships but it's also on the developer fronts that is actually making the whole industry could be like a moving to a more even like healthier and longer longevities uh increasing the longevity for games cool wow really like the developer side of the inside and yeah from I think from the money layer we can increase the engagement for both the players contributors and also developers to make the blockchain make games more like real real life W so wow um thank you I learned from a lot from this and for next question I'd like to to ask H and also Andy and Michael um game developers and platforms so what are those um challenges you met during the um game

adoptions for the the adoptions for uh the blockchain games and how you guys uh would like to tackle with that yeah I'll just start yeah yeah so I think uh I've had a big problem with just using crypto technology right it's very early uh I like the kind of say that it's like 1997 of the internet where you're booting up your modem and hearing a bunch of weird noises and it's not that great and you go to google.com and you can't really find anything on the internet so we're still like very early when it comes to the technology itself so our answer to that was with the last remains project it's a zombie stealth extraction game that you can play on epic games right now is that it's just a game experience we actually realize that when you start showing off

crypto you're actually turning off the gamer audience today and it's also turning off web 2 K's and we decided let's just redo the website and make it look like a traditional game let's make sure that when you play the game that you can start earning nfts Without Really knowing that they're nfts we don't even say that they're nfts so actually 70% of our audience has nfts within their accounts and some of them are worth hundreds of dollars on the floor price right and that's just the experiment that we're taken on because we want to lower the friction of like hey you don't need a wall at the start you don't need to be thinking about this as an earning mechanic let's just have fun and then as you go down the rabbit hole your fans will eventually figure out holy crap I have 1,700 bucks on my

account right now let's do something about that right and they'll learn how to get a wallet and you'll of course have best practices in your blogs and all that other Jazz so I think uh approach is important thank you thank you cop yeah I I would love to add to that too basically we see something similar um you know the tech part we have kind of explored and definitely is there's a lot of friction still involved which is why you know we've been building since 3 years ago and there's a lot more better Tech that has popped up such as account abstractions um but you know we want to make that gaming experience as seamless as possible so we took similar approaches where we're just launching the game as a game right simple logins that users are familiar with using such as social logins um you know so they can

get right into the game and then they get rewarded on onchain assets such as nfts spts all that type of stuff they'll be holding it in their account until they realize like one day they'll be like oh wow my account is worth something right and then what we would would do to guide them to be able to extract that would be the next step right proper education is also really important when it comes to gaming um back then if we take it a bit further you know when you install like an MMO RPG back like 15 years ago you have to go through forums right like patches there were no launchers that allow you to like go like pull the patch right away you might have to download it from a link uploaded by the company itself then you have to extract it in your

foldo right so you know but over the course of you know game development all of this has become more easier right so we see I hope to see blockchain to allow more tools that allow for user experience to be much easier um and at the same time we're also building not just games we're actually building a platform so you know users that engage in our games um they can get rewards that they can eventually extract if they choose to but for other investors or Partners in our ecosystem that have assets they can bring it into our game and we're actually building a platform that can support that as well which you know eventually these assets will have value in the games that we build um but that's something further down the road that we hope to have a very diverse ecosystem uh when comes to web3

gaming think Cy yeah I think Co Andy I think we've been sped on with uh like account abstraction making sure that onboarding is as easy as possible you don't lose people in the funnel I think that's that's something we spend a lot of time also with uh building might action heroes um we still haven't solved it yet so I think there's still room for improvement but you know there's a lot of tools right now available to make account obstruction easy gasless transactions and all that um so I think that is much better than you know three years ago um one thing that we struggle with that might be good learning to share is also I think you need to figure out what's the audience that you're building this for cuz if you if you make the onboarding too easy then you might get mistaken for like a normal Web Two

game but then you compete with other web two games so kind of myaction here was kind of that where like okay let's shot to be listed in the in the know App Store and in the Play Store and we managed that so that was good but it attracted a lot of normal players that looked at the game at the lens of like all right this is like another fortnite or another supercell game and you know you ship this game after eight months so obviously the production quality is not as high as as these other games so it's hard to compete but at the same time because we went very careful on the web 3 um Integrations and you know panomics and all that it didn't have that because we want to be we were a bit more careful and built for the more mainstream audience we kind of didn't really

attract the web 3 audience either so you're kind of like this this web 2.5 hybrid where like we don't capture the web two audience we don't capture web three audience is like who who are we capturing here right now so that was a bit of a big learning for us and then we kind of leaned more into to the you know the the dents and the the wagering and competing against other players so we added a mode where you can play against another player one versus one for real money and we had really good retention rates and it's kind of you know segueing into into goat gaming and why we doing that is like we think that in gaming uh there are people that just like to play with money and these are web two players and people in web 3 that like to play

with money and I think there's a good overlap of like building a very easy platform for those people to just play with money online and play kind of like competitive casual games um so that's yeah that's kind of like sh bit of learnings of how we got to where we are um and I think the other challenge is distribution um and you know there's a lot of chatter about telegram right now is like you know the next uh web3 gaming platform um we'll see I guess I mean there are a lot of players but there are also a lot of bots so I guess we'll see what what's happening there um but I think that's also going to be interesting to like figure out which web 3 game can solve distribution at to the Right audience basically if I just want to expand on that cuz like this is

actually we we're saying oh here's the approach here's this and that but it's actually really hard because we're talking about three different Target audiences we have our Farmers we have web three enthusiasts who actually put in money Farmers just extract and then you have Gamers right and when you go all web 3 I've actually been in a few web 3 games because I play a lot of them and they're just like hey man I'll let you win this time and you let me win and then we can both you know win together and we're going to make some money you know um but if you mix Gamers into that space the gamer would never let somebody else win right so I think there's that approach where you have to mix up that community that you're talking about but it's actually extremely hard because we have 400,000 Gamers on last remains and

you look at our Twitter and there's like 30 40,000 so if I go to binance and try to list right now they're like like this isn't a crypto game what are you talking about right we're not going to launch a token so that means I need to go do web3 Enthusiast web be farming and get this like whole big crypto thing and I need to market for that and for gamers so it's almost like we're marketing for two whole games like where are we going to get the money for that so it's a tough problem and that's why I think it's going to take a while to figure out this space and I guess I'll just add one more thing like these are problems that we face as well but then the one thing that really kind of you know strikes Us in the you know hard for us to control is

the compliances right like you have to be compliant on the platforms like you still want to like after you get the user set what are the legal complications probably between that what we can or cannot build right that is something that's very out of our control as well so we would need the whole Market to really move in sync which is why it's also very scary in this space because if there are some rug projects or bad projects out there to do something bad it actually takes us many steps backward while we're trying really hard to move forward as well good to hear from all the perspectives I really like the idea that yeah we have to see our audience and either it's web two and web 3 is for definitely for web 2 we need to do like a seamless user experience as like

normal games and next question for our wecs interesting games uh Ryan and so what kind of things like you like to evaluate on those game uh projects you like to uh invest in uh I think first it's like uh when you have building a we three games you you shouldn't just be thinking you're are building a better we three games you should always try to Benchmark your contents like comparing to the web too like content is usually coming the first unless you want to to build uh pretty much like a farming game that you don't really need to be carrying that much on the content side but if you're planning to build something more sophisticated whether it's like a RPG or like a shooting games

or a car trading games you have to be benchmarking just not building a better web three games but you should be thinking about how you are what kind of like people you are trying to unbore are you trying to unor like the farmers or you trying to R board like a Gamers or someone in between but if you wanted to have at least like some kind of like retention you needed to make yourself competitively enough to the rest of the product in the market so you should be bringing like a building something attractively enough that either like a web two gamers are willing to play for your games uh we look into like a lot of like games uh within the week still look into the games but like for us to

probably finally deploy it's like we we needed to see that point that you actually building something standing out even from like the web two games that um yeah you will be able to like attract like Gamers that kind it comes with certain kind of like Innovation so for us we would still wanted to see that like content is still the key and then secondly is how you designed the web 3 part do you really needed to do a web 3 games or you could just completely stay on the web too so on the we three elements it has to be completely making sense like what kind of games you're trying to build are you trying to just like copy others model about like back then it was actually a dual token model life on axi and then later it's like

free to earn uh for free to play and then you Incorporated like the nft and then like uh but why do you need like either nft or like token in your like ecosystem does it make sense and will you be able to probably force your community to be able to use token in your like ecosystem or is this just purely going to be an incentive ifies like layer that people are pretty much just dumping the token in the markets and you still need to do like the token management from the open market keep like buying back so I think for us like to invest into a game it's all sort of uh aspects that we look at it's like if you really needed to do a whaty games and also like content is always the key

so until like all this puzzle is actually coming like to put together that we think it's completely making sense um that I think will be actually also fitting for our like investment thesis that we will be like looking and also investing and I think the latest trend is like in the tone ecosystem there's a lot of like the Casual games a lot of like a tap to earn or like a farm to earn but the thing is um we just not really sure about like how sustainable like these models are and I think the next Trends in the market is like people are trying to bring the IP to the games and uh I was talking in the other panel that if you're TR trying to bring the IP you can't really just plug in any IP into any kind of the games because at

the same time you bringing the previous like communities and also users like from the the the previous IPS uh engagement so when you're actually building out a gam targeting for a specific IP you need to think about like you're targeting for that specific like audient group if you're actually getting a very like a children focused like a IP then you should be building like a children like a focus IP but if you're trying to build like bringing like a manga you can't really just like plug in the hero into the game this is why even in the web two World sometimes like this model doesn't work so uh I think that building game is definitely a very very complicated like a complex like process but building a web 3 game is definitely

not like easy um yeah could be like much more difficult than building a web two games so these are all kind of like the aspects that uh we will be looking to um in supporting the founders when uh that we are looking into like the the games like deal flow I think and shared most of my thoughts but anyway um yeah um so far I as around like all the founders that uh which which one is the most successful web stre game and most of Founders said uh there's no successful game uh maybe X Infinity uh uh did a quite unique uh unique job for like on boarding a lot of no almost 10 million users to their

ecosystem but as you know like now token price uh drops a lot uh also I think user perspective there's n n many user are playing uh XC so uh three years ago uh we three four years ago we invested many uh casual game hyper casual game uh but now trend is more like a mid court and like uh Triple A games but uh to be to be fair uh actually the the cost to make a very high quality quality game takes quite long time like at least 3 four years so uh first of all when we evaluate the founder we see uh this founder is just making product or he can

manage all the p&l and he can raise the next round Etc because gaming is different from platform platform is like you can show uh you can launch the platform and you can show the metric and you can you can share the uh the girls of the metric then like a VC can join to the round but gaming is like no um the to make a metric you have to launch the game but the launching date is like three three years later so very hard to raise fund so uh somehow they have to utilize their background like uh we have a 20 years experience of game and we already uh engage with this kind of funds ET ET so they they bring a lot of

background information than gaming itself but definitely it's a quite hard uh hard time for them once know they running out uh the old the capital so this is one of the uh the stuffs we are watching it and also um like the founder have to know uh definitely we to I mean gaming itself but of course also uh web stre as well I think somehow like no oh I'm making platform and we will bring the game to the platform uh in the future or I I making game after making success uh from this game I I will make a platform but uh from our no we're

running actually a K-pop uh Idol and uh we decide to uh make our Idol and also platform together and they make Synergy because they know the the the the content side they know how to make a web stre K-Pop group and and in other hand the platform side they can uh they can manage all the uh the K-pop I mean uh this K-pop group to be uh web stre native K-Pop group so it makes Synergy between them so I think uh eventually gaming sector also have to be quite similar that means um uh the product uh production level they have to uh prepare platform business at the beginning also

uh the the platform perspective they have to know how to engage with a gamer itself so um yeah I think this is kind of uh quite a difficult level of uh founder skill but we are watching this kind of uh stuff from the founder well we need a very strong Founders who know everything but yeah as you mentioned like the crean idols we have have a trip s day after tomorrow here um in the yogi gymnastics to have a so you can um yeah be excited about it and yes as we are in Japan as we are in Japan I think uh we have to think about how we deal with the Japanese uh gaming industry especially

Japan has very good um Heritage in this game from like family computer so like to ask everybody so uh what Japan can play a role what kind of roles Japan can play uh in the blockchain game industry and also maybe what you like to do uh with the Japan Market anybody yeah I'll start so I came to Japan because I want to learn about that exact question and the thesis that I have at the moment is there is a lot of genuine content being created on our last remains game from Japanese Gamers and what I believe is happening is we're not incentivizing it we're not paying

anybody here we in this like community of about 15,000 people who kind of came together and I'm meeting some of them today and I believe this community doesn't really fit in the farming side they actually fit in this genuine gamer meet Enthusiast side which is very important because you're looking for somebody who actually wants to be there and believes in what you're doing and I have a feeling that when this culture gets into something they really get into it and that is what I'm really interested in of course there's so much history here with kuga and game design and so much great things that I've learned over the years that I think we can bring into the game industry to kind of rebuild but I think some of the biggest fans in gaming are going to be

built here in web 3 and it might actually a lot I actually like to say in Asia in general aside from just Japan but in Asia is where web three gaming is going to flourish it's not going to start in the west or like pop over there I really believe it's going to pop somewhere here and of course we've seen in the Philippines and Vietnam for you know axy but I have a feeling that Korea and Japan might be the next big one for like real hardcore games yeah basically I I think um the Asia is more uh into application and US markets more into infrastructure so that's why we learning Capa but Japan is like uh definitely we can uh we all all uh people here uh we recognize Japan

animation is the top notch in the word so we invested some of the animation related uh platform and uh the IP itself uh eventually launched on web stre and um basically uh I think recently know from our research animation uh through through Netflix uh uh distribution just Japan animation Market is alltime High um I think the only problem is like most of the company here is targeting more domestic Market rather than Global Market of course there's a language barrier so we are we're looking for the founder that who can communicate between a Japanese market and Global Market or

even you know they're targeting a global market with Japanese native IP and of course like existing IP like a one pie Naruto or like Dragon B the kind actually the the the ownership is quite complicated so somehow it's hard to bring them out to web stream purely or like organically uh so I believe uh some native new IP in animation should be easier to bring up to web stream so uh we are looking for we are uh looking for working with some of the production level of company or studio and some uh

uh uh animator as well yeah so um obviously already covered but Japan is like has amazing IP ke in terms of the anime uh culture and basically coming from a web 2 Gaming space we noticed that Japan is one of the top markets for gaming right in web to uh and the most important thing is also collaborations I mean I agree that the domestic Market probably plays Among themselves a bit more because you see a lot of games doing cross IP collaborations with top um anime projects that come out based on Seasons but nowadays even in the western scene right like there's a lot of Anime conventions happening in the world so anime itself is something that has penetrated globally it's just how can

this make sense in web 3 but some hardships would be you know IP ownerships like holders of these IPS like how can we bring it um into collaboration so even for our studio we are talking to a few uh major IPS that hopefully are more open-minded to you know work in this web 3 space and also regarding like the community here in Japan right like gaming is definitely big but something like Trading Card Game you see is a very vibrant market and I don't see much of a difference between like people that trade cards here like and like a real tangible card versus like digital assets such as nft right as long as what you're delivering is the right product and you can engage them I think Japan Japanese um you know

Community is actually very very strong and can be one of the more stickier ones that can you know keep playing the games that will come out yeah I think a lot of really good points um adding to this so the previous company I work with is a Japanese company called double jump Tokyo they now building the Oasis uh gaming chain and they work with a lot of the large Japanese companies like srax uh and Konami and others and I think a lot of Ip is is in their hands and I think a lot of the really good production is also in their hands but they move really slow um at the same time they're also very excited about web3 but they need to take this very carefully because um the hardest thing in Japan I think is still the regulation and Regulatory framework um so it's

crypto regulation erc20 tokens but also gambling regulation so when it comes to like nfts you look into like know loot boxes and gambling and all that so like navigating all of this is extremely difficult especially as a publicly traded company in Japan um but the good news is I think the regulation in Japan is is loosening up I think the government I think also the Shibuya mayor is like very involved in like conversations right so like the government is taking this very seriously they kind of missed the boat on web 2 so now they're saying like let's just make web 3 work at least in this country so you know I'm excited um let's see what's happening um I think it just takes time as a lot of things in Japan but once once things are moving things are moving and I think um we'll probably see some

some popular IPS at some point on the blockchain as as kind of exporting from Japan to the rest of the world yeah Japan is definitely uh within the region is one of the most potential uh Gamers Market because it has been one of the Pioneer in the gaming space started off like the consoles moving to the hand device so and also like comparing to the regions such as um China Korea it's completely like a bending we3 games and this is also like a market that you could be possibly generating higher arpo um compared to like southeast Asia or like India market but this Market just have a certain kind of like the appetites um such as like

the aesthetic style it's very different than the Western Styles and also this markets it's um they really likes the RP any kind of like a RPG this is a market that they really have the preference for if your like game has a build up with a story line with your own worldviews um typically usually this kind of like the games will be like doing better and this Market also has a preference for like a single person mode instead of like a multi- people um I think it's due to a lot of like the cultures um characteristics you also like this is a very mobile market so I think this is probably also some of advice for some of the developer if

you're actually coming to these markets um this tend to be probably like according to like statistics of this markets that um for games coming to this market and also like the IP also works but then you needed to build in a way that the IP um the f as I mentioned like earlier that your fan base needed to be coherent and also was a game design um even for the web too um for like a lot of like game studio just like pluging the IP such as um SE I did the the do like the job assemble uh I don't know if you're familiar with the game it's like they PL they have like the IP from like Dragon Ball like joju kaisen or like one piece they put all the hero together like in the battle arena and battle to

each other but like usually the fans like wouldn't be having that kind of emotional or immerse experiences and this is something that especially for Japanese Gamers that were having a very um High demands it's about like the immersive like experiences when you're actually trying to play the game this is why Zelda is actually has been like one of the most successful like games or like out in rings like for the past like two years coming out from Japan so um yeah just some of the advice like for G Builders if you're looking for this markets um Gamers like here's uh much more sophisticated or if you are doing the Casual games this is also working

very well here but you needed to provide a very relaxing like uh Moree mode because a lot of like people here are very stressful on The Daily uh life uh a lot of times it's like playing the games like doing probably like the commute time on the Metro and O these um yeah you probably see Japan has one of the highest ratio on the Metro or bus that people like playing like mobile games so like providing a really relaxing like um mode within the games it's also quite important for the smart kids cool that's a good Insight from Japanese Market okay uh as we're running out of time I think uh please if you developer here um in Japan and also Global please yeah talk

with our panelist after and also if you want to learn more about the game ecosystem in Korea and Japan please go to Korean blockchain week which is September third and fourth I guess right right okay uh and also um IBS 2025 time is decided uh July 2 3 and four um next year so we also have a in Kyoto in Kyo yeah not in Tokyo and we also have a great existance for like especially Jam uh Japanese blockchain games um this year's most most of the like big game developers um of the web two games are coming and they would like to release some new like information of web three

games so okay uh I think time's up and thank you so much for coming to our panel and looking forward to talk with you guys around thank you