MIL-OSI Economics: Startups drive blockchain adoption in Southeast Asia’s gaming sector, says GlobalData

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Source: GlobalData

The Southeast Asian digital entertainment scene is undergoing a rapid transformation thanks to the integration of blockchain technology with gaming. Startups are leading this revolution, ensuring asset security, genuine digital ownership, player-centric ecosystems, and innovative gaming experiences. This shift is reshaping the conventional gaming market and elevating player engagement, says GlobalData, a leading data and analytics company.

Nikhil Sharma, Senior Analyst of Disruptive Tech at GlobalData, comments: “Blockchain gaming is rapidly becoming a cornerstone in the digital entertainment sector in Southeast Asia, driven by factors such as increased internet access, widespread smartphone usage, supportive government policies, and a tech-savvy, youthful population. The fusion of blockchain technology with gaming is redefining the rules of engagement, offering players unprecedented control and ownership of in-game assets, whereas decentralized gaming ecosystems are enabling transparent and secure transactions, fostering a sense of trust among players and developers alike.”

GlobalData’s latest Startup Series report, “Blockchain disruptors in Southeast Asia’s gaming landscape,” delves into notable blockchain-focused gaming startups across Southeast Asian nations, including Indonesia, Malaysia, the Philippines, Singapore, Taiwan, and Vietnam.

Philippines-based Yield Guild Games facilitates player access to in-game assets, potentially enabling gamers to derive real-world value from their gaming skills and strategies.

Ancient8 is engaged in developing infrastructure suitable for blockchain gaming and decentralized autonomous organizations (DAOs) in Vietnam. Their initiatives are directed toward fostering a more inclusive and decentralized gaming community.

Acxyn focuses on monetizing and protecting gaming IPs and NFTs in Malaysia. The startup assists developers in transforming games into web3 experiences and creating new revenue opportunities through tokenized assets, fair rewards, and a universal currency.

Whydah provides a platform that allows developers to integrate blockchain-based elements into their games in Indonesia. The startup also has an NFT marketplace that enables users to trade in-game NFTs.

OASYS is a blockchain-based game development platform that incorporates a proof-of-stake public blockchain mechanism that solves challenges for blockchain game developers in Singapore.

Lootex, headquartered in Taiwan, is a cross-chain NFT trading platform that enables gamers to acquire avatars, weaponry, in-game assets, and creatures tailored to their chosen NFT-based gaming experiences.

Sharma concludes: “The rise of blockchain gaming in Southeast Asia is not just a trend but a glimpse into the future of gaming. It represents a significant opportunity for growth and innovation in the region. However, the journey is not without challenges, such as regulatory compliance, scalability, and ensuring a balanced gaming economy. Addressing these challenges effectively will be key to harnessing the full potential of blockchain in revolutionizing the gaming sector.”

MIL OSI Economics