Enjin is teaming up with Japanese accelerator HashPort and will work to promote adoption of Enjin’s blockchain solutions in the Japanese market. HashPort will act as a business development agent for Enjin, which is developing an ecosystem of blockchain-based products and services for gaming, which are fuelled by a cryptocurrency.
Japan is a massive market for gaming. It is estimated to be the third-largest market for games and has a population of more than 125 million people, making the country a perfect fit for Enjin’s blockchain game development platform.
Unlike many nations, Japan is also very open to using cryptocurrencies and has an existing base for crypto exchanges, as well as gaming. In addition to helping connect Enjin with potential adopters of the Enjin Platform, HashPort will also look to build business relationships and assist with getting Enjin Coin (ENJ) listed on Japanese exchanges.
Enjin Enters a Trend-Setting Market
In addition to having a huge population of video game enthusiasts, Japan is one of the biggest forces in the global gaming community. When a popular product emerges in the Japanese gaming market, it could very well be on its way to taking the world by storm.
From the original Nintendo console system to Pokémon GO, the game designs that Japan creates have been an extraordinary influence on global culture for decades. That trend is set to continue, and blockchain stands to play a major role in the next chapter of gaming history.
Enjin is getting into a lot more than a new customer base with its entry to Japan. In fact, it could help to embed the ERC-1155 token into the global gaming market, as every asset minted with the Enjin Platform is an ERC-1155 token backed by Enjin Coin.
Created by Enjin CTO alongside a community of Github developers, ERC-1155 recently reached final status and was adopted by the Ethereum community as the accepted standard for minting fungible and non-fungible assets.
One of the biggest advantages of ERC-1155 is that it allows developers to mint an unlimited number of both fungible (identical) and non-fungible (unique) assets in a single smart contract.
ERC-1155 tokens are also powerful in that they can be used across numerous games and platforms (which Enjin refers to as the “Multiverse”) while maintaining unique qualities.
The Future of Gaming
Enjin is working to launch the Enjin Platform to Ethereum Mainnet. After the launch, more than 25 million software developers from around the world will be able to use Enjin Coin to mint ERC-1155 tokens and integrate them into whatever they choose.
If Japanese game developers are able to popularize the use of ERC-1155 tokens in the domestic market, a greater presence in the global gaming market could follow.
Big game developers have been resistant to allowing the use of unique items that exist in a decentralized way, as it removes their ability to control the game environment. Gamers win big when they have ownership and control over their digital stash, and that could be the next big step in gaming.
A Great Tie-Up
HashPort Accelerator Founder Seihaku Yoshida commented that:
“It is a great honor to support Enjin as the first project in HashPort Accelerator,” and that, “We are excited to work with the world’s leading blockchain ecosystem developer on their entry into Japan. We believe Enjin’s success in Japan will accelerate not only the growth of Enjin in the global market, but also the development of the Japanese blockchain game industry as a whole.”
Yoshida appears to understand that blockchain creates huge opportunities for game developers who are open to its adoption and may also create competitive advantages for the Japanese gaming industry, as its developers work to adopt a technology that developers in other countries have not yet caught on to.
The use of unique tokens represents a major shift in how digital property is owned. It won’t take gamers long to figure out that it is much better to actually own your items, than trust a company with all of your digital goods.
Enjin is Growing Quickly
Earlier this year, Enjin launched its Testnet version of its blockchain game development platform, and it has already attracted more than 7,000 users. The platform that allows people to create, manage, and integrate ERC-1155 tokens into their games, apps, and websites, while empowering users with true ownership of their unique digital tokens.
The gaming market is a perfect place for ERC-1155 blockchain assets to gain more traction, and Enjin is likely making a good move by entering the Japanese market with the help of HashPort.
ERC-1155 tokens have applications that extend well beyond gaming, so it will be interesting to see what happens over the next year or two as Japanese developers begin adopting the Enjin Platform. There is a growing need for decentralized options in the gaming space, and it appears that Enjin is securing a place for itself in one of the best places for development globally.