YGG Japan, in collaboration with KryptoGO and Infinity Ventures Crypto, will soon be offering a Web3 gaming wallet that will be crucial to onboarding many users to Web3 gaming.
Yield Guild Games’ Japan-based subDAO YGG Japan has collaborated with crypto wallet developer KryptoGO and Web3 venture capital firm Inifinity Ventures Crypto to create a specialized Web3 gaming wallet. According to the blockchain gaming guild and its partners, the Web3 gaming wallet will be critical in encouraging and onboarding many users to Web3 gaming.
YGG Japan and its partners are bullish on this latest endeavor. After all, this partnership brings together a regional subDAO, a non-custodial crypto wallet developer, and a dedicated GameFi, Web3, and DeFi investor for one ambitious undertaking focusing on blockchain gaming.
The Japan-based gaming guild is taking advantage of KryptoGO’s expertise in wallet development and the financial support from one of the leading Web3 venture capital firms to create a Web3 gaming wallet that will make it easier to bring on new players to blockchain gaming.
Addressing a Challenge in Blockchain Gaming
The three collaborators are trying to address one of the biggest challenges that blockchain gaming companies face—the complicated process of accessing token-gated games.
“Users wishing to enjoy blockchain games today have to download, install, and configure browser extensions and mobile wallets (Non-Custodial wallets) on their smartphones to prepare tokens and coins to be used in games,” read the press release.
“Many of these existing wallets are generic products designed for use with DeFi and Decentralized Exchange (DEX), and there are no wallets specific to blockchain games and for blockchain game users. The barriers to getting started with blockchain gaming are high; therefore, BCG [is] not accessible to everyone,” the press release continued.
The Need for a Web3 Gaming Wallet
YGG Japan’s purpose in developing a Web3 gaming wallet ties up with its goal of making blockchain gaming a source of livelihood for avid gamers. The company believes that for more users to experience the fun side of the play-and-earn gaming concept, it is critical to lower or totally remove the barriers that impede some users’ desire to start playing Web3 games.
The play-and-earn gaming concept focuses on developing quality games that leverage cryptocurrency monetization that rewards gamers for their activities. Play-and-earn is considered the more conservative version of the play-to-earn gaming ecosystem, which is profit-driven. YGG Japan believes play-and-earn is the key to bringing Web3 games to the masses.
“Currently, only highly literate users are accessible to and enjoy blockchain games and Web3 world in Japan. YGG Japan’s mission is to spread blockchain games and the new era of gaming culture and to bring this new experience to as many users as possible,” said YGG Japan’s CEO, Tetsuya Fujiwara, when asked to comment on the partnership. “We are looking forward to collaborating with KryptoGO and IVC, who share our philosophy, and we are very happy to have partners who can accomplish this mission together.”
Meanwhile, Kordan Ou, KryptoGO’s CEO, said his company’s role in this partnership is to optimize the experience of managing on-chain game assets. As much as possible, the company wants to do away with the challenges of cross-chain gaming by using a proprietary Web3 gaming wallet that emphasizes asset management for multiple chains.
“Users can manage all their virtual assets with just a phone number, making the transition from Web2 to Web3 gaming much easier. Regardless of which blockchain a game runs on, all game assets will be accessible and highly secure in KryptoGO Wallet, making it the best choice as a cross-game inventory!”
For his part, Akio Tanaka of Infinity Ventures Crypto said the venture capital firm sees “great potential for the explosion of blockchain games in Japan” based on its experience in launching and investing in social games that target the Japanese market.
“[We] are very pleased to participate with KryptoGO in the development and delivery of the wallet, an important first step in YGGJ’s mission to bring a new era of gaming culture and user experience to Japan,” said Tanaka.
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