The marked hostility to new and emerging Web3 technologies such as cryptocurrencies risks making Japan the world's gaming capital. We're getting dangerously close to the point of no return, and here's why.
No one can be sure where the country's antagonism toward cryptocurrencies originated or why it persists even after the non-fungible token (NFT) and crypto "boom" of 2021 took on a major global dimension, prompting officials in the United States and Europe to retreat from their initial antipathy to the space and eventually opened up to regulations. The White House just released its first crypto regulatory framework in September 2022, and a European Parliament committee followed up in October 2022 with an overwhelming vote to approve the Markets in Crypto-Assets framework, also known as MiCA. As Europe's first crypto policy, the much-discussed MiCA text represents a revolutionary advance in the direction of what many see as the future of the financial world.
However, Japan has a completely different attitude and developers of games like Axie, Cryptogene and especially new projects like LifeBeyond should take note.
We all know that Japan is home to gaming giants like Nintendo and Sega and has been for decades, with triumphs like Super Mario, Sonic the Hedgehog, Sega Mega Drive, and Game Boy. However, to stay on top of the game (pun absolutely intended), the sector must be able to consistently and rapidly change with the times, not stay where it was when it first gained recognition. Gaming is a highly creative space and has always had the technology to support its extraordinary potential. However, to do this, it must be able to keep up with new and evolving innovations, otherwise, it will become stagnant and lethargic.
Source: https://www.reddit.com/r/NFTGames/comments/ycod1e/japan_is_losing_its_place_as_the_gaming_capital/
