The Future of Blockchain Gaming and Web3 in Asia: IVS Crypto 2024 Recap

IVS Crypto 2024 in KYOTO was a worthy successor of its 2023 edition, one of Japan’s largest crypto events. This year, the theme of the conference was “Cross the Boundaries,” focusing on blockchain technology and Web3 in the context of gaming, entertainment, and AI. Japan’s ancient capital Kyoto hosted 300 side events and over 12,000 participants who explored ways to transcend the “intangible barrier” between Web3 and real life with blockchain gaming being a topic of interest. 

Oasys’ Director in Tech Ryo Manzoku and Representative Director Ryo Matsubara participated in panel discussions on the connection between the growing demand for Web3 and the declining Japanese economy and depreciating Yen. They also highlighted how Oasys supports game development and drives mass adoption, discussing the bright future of blockchain gaming in Asia. 

“Shaking Up” The Web3 Entertainment Zone

Traditional and Web3 gaming projects found home in the Web3 Entertainment Zone “SHAKE!”, the cornerstone of the main event at IVS Crypto 2024. Visitors were treated to new and upcoming releases of promising blockchain games. High-profile sessions covered new project information, tokenomics, marketing strategies, and Web3 strategies from major web2 gaming and entertainment giants, giving gamers much to look forward to in 2024.

Among the groundbreaking projects from Japan aimed at addressing challenges in the content industry, a few stood out:

  • AnimeChain: Developed to support creators in the animation industry, released its WhitePaper. AnimeChain uses AI technology to tackle labour shortages, rising production costs, and copyright issues.
  • Resela: An NFT solution by gaming giant KONAMI designed to overcome challenges in developing its blockchain games.
  • Katana: YGG Japan revealed a Layer 3 project dedicated to games using StarkNet’s zk technology.
  • tv asahi’s Blockchain Games Accelerator: A program designed to accelerate blockchain game development.
  • PLAYTHINK’s “NewLo: A new loyalty program for the Web3 era that converts points into tokens.

Japan is The Vanguard for Gaming and Blockchain

Japan is rapidly positioning itself as a global leader in the blockchain gaming sector. At IVS Crypto 2024 KYOTO, Masaaki Taira, a Member of the House of Representatives from the Liberal Democratic Party of Japan, emphasized the government’s strong support for blockchain initiatives. He highlighted how Web3 can transform traditional Japanese values into lucrative business opportunities, including in the gaming and animation sectors. 

Japan’s captivating and diverse culture, coupled with the weak yen, attracts more foreigners than ever, surpassing pre-COVID-19 levels. Masaaki Taira noted that blockchain and NFT technology are crucial for fairly pricing the unique experiences available in Japan through the secondary market. For example, a ski resort in Hokkaido sold the right to skip lift lines via an NFT for over $500 on the secondary market. This demonstrates the potential of blockchain technology to monetize Japan’s cultural assets, offering new revenue streams and drawing a global audience eager to explore Japan’s rich heritage in innovative ways.

The Japanese government has recognised the need to simplify the taxation system to foster the growth of Web3 with government officials aiming to strengthen cooperation between startups and large corporations. This forward-thinking approach creates a more favourable environment for game developers and other innovators in Japan to fully embrace and advance in the Web3 space.

The outlook for Web3 gaming in Japan is promising, driven by the adoption of new technologies, robust government backing, and commitment to push the boundaries of digital innovation. 

Empowering Game Developers and Creators

Oasys is paving the way for Web3 gaming in Asia with several blockchain games planned for 2024. Key highlights from Oasys’ participation in IVS Crypto 2024 include:

CoinMusme: CoinMusme delivered exhilarating live performances on several stages, which were warmly welcomed by the public. They debuted their new original song, “Gacha 3.0,” with 5 Musme-chan characters based on a token, including Oasys-chan taking part. 

Battle of Three Kingdoms: Major updates were shared by the highly anticipated title in development by double jump.tokyo with IP provided by SEGA. The series’ father, Mr. Nishiyama, was announced as the game’s producer with a new “promotion” system introduced. The game is set for release in winter 2024, with a pre-event starting in the fall.

Panel Discussions: Oasys’ Representative Director Ryo Matsubara and Director in Tech Ryo Manzoku participated in different panel discussions, discussing industry trends and expectations for Web3 gaming and blockchain games. Matsubara highlighted several successful releases from last year’s IVS, and Manzoku discussed how Oasys supports game developers in transforming Japanese content into global Web3 hits.

Notable Mentions: Other Oasys titles, such as QAQA by Blocksmith, Enish’s De:Lithe Last Memories, and Web3 online crane game Bounty Hunters, were also present at IVS Crypto 2024 in various forms, with representatives from the titles speaking and exhibiting.

Networking Their Way to Success

The future of Web3 gaming extends beyond mere game creation; it’s about fostering communities, building ecosystems, and creating sustainable economies.

IVS Crypto 2024 has a dedicated “Crypto Village” for theme-based networking events to facilitate industry connections. Exclusive areas for BUSINESS Pass holders, such as the VC Meeting Lounge and the Elevator Pitch Area, allowed for direct interactions with investors, game developers and business professionals. The relaxed environment for executives and investors set the stage for many promising and strategic business discussions, fostering potential partnerships and funding opportunities.

We are excited to witness the evolution of Web3 gaming into a mature sector that transforms the gaming experience while empowering users and game developers. And Oasys will continue to be among the leading voices across the blockchain industry to promote Web3 technologies for promoting creativity and innovation in the gaming industry.

More information on Oasys is available on:

Website: https://www.oasys.games
Twitter: https://twitter.com/oasys_games
Discord: http://discord.gg/oasysgames
Telegram: https://t.me/oasysen