Several Vietnamese companies are eyeing the rapidly expanding blockchain gaming market and preparing to make their move by developing the next big blockchain game.
Axie Infinity Establishes A Pattern
Since its inception in March 2018, the Axie Infinity marketplace, launched by the Vietnamese company Sky Mavis, has served a million unique crypto wallets. The monster-fighting game is also the most valuable NFT game in the world this year. According to Nguyen Thanh Trung, one of the founders of Axie Infinity, blockchain gaming has progressed beyond simply testing the boundaries to actually developing good products. Axie Infinity has sparked the start of a blockchain gaming boom, with several other Vietnamese companies deciding to join the race. Vietnam currently ranks second in Southeast Asia in terms of mobile game downloads, with 57 percent of the country’s 68 million smartphone users spending an average of 3.9 hours per day playing games.
Vietnam’s Favorite Blockchain Games for Investors
Aside from Axie Infinity, other blockchain companies in Vietnam include Sipher, Faraland, Heroverse, Zuki Moba, My Defit Pet, MeebMaster, Theta Arena, and others.
Sipher is a multiplayer online battle arena (MOBA) game that recently raised $6.8 million from investors in the United States and South Korea to fund their next major project, “The World Of Sipheria.” In anticipation of the game’s release, the team released NFTs of one of the game’s main characters, which resulted in over 10,000 Sipher Inu NFTs selling out in less than 15 minutes.
Faraland is another popular multiplayer game that originated in Vietnam. Faraland’s RPG metaverse, which includes character NFTs, recently received a $2.4 million investment. HeroVerse, a puzzle and strategy RPG, also raised $1.7 million. Zuki Moba, another MOBA game developed by a Vietnamese company, recently made headlines for raising $ 1.4 million in capital from major international investment funds such as Kyber Network, Coinsgroup, and others.
In related news, Ubisoft has revealed that it is investigating blockchain technology by investing in Animoca Brands to investigate the possibility of developing its own blockchain-based game.
According to Thao Trang, CMO of Project SEED, global industry insiders see Vietnam as a blockchain ecosystem, not just individual projects. However, a lack of qualified candidates in the market is making it difficult to fill various roles in blockchain game development. As a result, project SEED hires candidates who are skilled in either blockchain or game development and then teaches them the necessary skills.
“Conflicts between the two groups are all too common. Blockchain evolves on a daily basis, and developers must stay alert and ready to respond to market reactions.”