Japan is the country of gaming giants Sega and Nintendo. For decades, Japan’s economy has benefited from numerous titles released by said gaming companies.
But as the world moves towards Web3 and GameFi, Japan may have to become more flexible. Country’s rules are quite hostile to GameFi and NFTs.
Other countries are benefiting from this and are welcoming game developers from Japan to develop GameFi for them.
However, all is not lost. Japan has made some new amendments to its rules regarding NFTs. It remains to be seen if it’s too little too late. Or if the country can bounce back and stay on top of the gaming world.