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Asia’s current gaming domination ‘crucial’ for Web3 games: DappRadar

Asia is home to 1.7 billion gamers and contributes over $72 billion in annual gaming revenue, making it a critical market, according to DappRadar.

Asia is “crucial” to the Web3 gaming industry, as it already boasts the majority share of gamers and gaming revenue, and has a high interest in blockchain technology, according to a new report.

An April 13 report from analytics platform DappRadar emphasized the Asian market has over 1.7 billion video game players, accounting for 55% of the world’s tot.

It also houses over half of the global gaming revenue and has long been “the driving force” behind the global gaming industry, according to the report.

Market share of global gamers data revealed. Source : DappRadar

Due to these factors, DappRadar claims the Asia region “plays a crucial role in the adoption of blockchain gaming.”

China, Japan and South Korea dominate the gaming industry in Asia and are home to 62 of the world’s top 100 gaming companies by market capitalization.

China has banned crypto and prohibits gaming companies from integrating blockchain technology into their games, DappRadar reported.

Meanwhile, gaming companies in Japan and South Korea are “leading the way in the adoption of blockchain technology in gaming,” the report says, pointing to Sony’s recent NFT-related patents and gaming firm Sega’s announcement of its upcoming blockchain game.

A survey of 1,030 Japanese men and women ranging in age from their 20s to 70s cited in the report revealed a promising outlook for the Japanese blockchain gaming industry.

It revealed just over 40% of respondents were familiar with blockchain games and over half of those familiar had a favorable impression of them.

Survey results of those familiar vs not familiar with blockchain gaming Source: DappRadar

The Web3 industry on a global scale was also addressed, with the report highlighting that “visual quality and game experience” are “slightly” more important factors for gamers when evaluating a new game over other aspects such as entry price, the number of active users and game economies.

*Metrics that gamers check to evaluate new games. Source: DappRadar*

The report also emphasized the significance of airdrops in motivating gamers to try out new games.

It was stated that airdrops are considered “an essential factor,” with gamers still expecting to receive them before starting a new game.

Magazine: Why join a blockchain gaming guild? Fun, profit and create better games

Men under 50 shoring up US cryptocurrency market: Pew Research

A Pew Research Center analysis shows that not much has changed over the past few years when it comes to U.S. cryptocurrency adoption and confidence.

The Pew Research Center’s latest U.S. cryptocurrency report, published April 10, shows little in the way of surprises when it comes to the nation’s adoption and confidence in the burgeoning crypto market.

Perhaps the biggest takeaway is Pew’s finding that 75% of U.S. adults who’ve heard of cryptocurrency have little or no confidence in its safety and reliability.

That statistic may not express the actual sentiment of the average cryptocurrency investor, however, as adoption rates vary wildly by age and gender, with men ages 18 to 50 providing the bulk of U.S. cryptocurrency market movement.

What data says about the state of crypto: NEW survey from @pewresearch shows a majority of Americans don't have confidence in the safety of crypto, some former users no longer have crypto and 45% say their investment has done worse than they expected https://t.co/0QyDHAoWgK pic.twitter.com/IYt8a12nBp

— Lee Rainie (@lrainie) April 10, 2023

The survey featured numerous questions relating to U.S. cryptocurrency sentiment across age, race and gender demographics (the study’s methodology points out that certain minority groups were oversampled to reflect correct population proportions), with responses gathered from 10,071 study participants.

Those identifying as women and study participants over age 50 expressed the weakest sentiment, with only 10% and 8% of either demographic respectively having purchased at least some cryptocurrency. By contrast, about one in four U.S. adult men have invested in at least one.

Also of note, cryptocurrency use in the U.S. continues to differ by race. Per the report, “Some 24% of Asian adults and 21% of Black or Hispanic adults say they have ever invested in or used a cryptocurrency, compared with 14% of White adults.”

Other areas meriting mention — and, perhaps, concern — include the fact that, juxtaposed against previous Pew Center research, U.S. cryptocurrency adoption rates appear to be stalling out, with only 16% of participants claiming to have tried crypto for the first time in the last year and only a single percentage increase in total adoption between 2021 and 2023.

On the bright side, the study indicates that around two-thirds of all U.S. adults who’ve invested in cryptocurrency continue to hold at least some.

Singaporean women ‘outperforming’ men in crypto trades, survey reveals

The survey also found that 24% of women have allocated more than 20% of their portfolios to crypto.

Singaporean women are slightly more likely to make money or at least break even on their crypto investments than their male counterparts, according to a survey from cryptocurrency exchange Independent Reserve.

Published on March 28, the annual Independent Reserve Cryptocurrency Index (IRCI) survey was conducted in February and polled “1,500 everyday Singapore residents on their attitudes toward cryptocurrency.”

As per the survey data, 76% of women reported either making money or breaking even on their crypto investments, compared to just 72% of men.

“Since the launch of IRCI in Singapore in 2021, this is the first time that females have reported outperforming their male counterparts,” the survey results read.

*Crypto ownership, Women vs Men. Source: Independent Reserve*

The survey has also found an increase in women participating in crypto investments this year, with 37% of women surveyed saying they had crypto investments, accounting for a 7 percentage point increase compared to the previous year.

On the other hand, 48% of men said they took part in the activity, which was down 1 percentage point compared to the 2022 IRCI.

A significant number of women surveyed also outlined bullish stances towards crypto, with 24% stating that they had “allocated more than 20% of their investment portfolio to this asset class.”

“Over the next 12 months, 48% plan to further invest in their existing portfolio while 43% intend to diversify into other tokens, Defi or NFT projects,” the report adds.

*Investment performance vs time in market. Source: Independent Reserve*

The IRCI also provides a score for the overall confidence level in crypto ranging from 0 to 100. In this year’s edition, Singaporean confidence scored 55 out of 100, down from 61 the year prior.

This was mostly attributed to the rough year crypto had in 2022, as several major crypto firms went bankrupt, while the collapse of Do Kwon’s Terra/LUNA project also sent shockwaves through the sector.

“2022 was a challenging time for the cryptocurrency industry, due to several macroeconomic factors. The collapse of Terra-Luna and the FTX fallout has understandably led to a loss of confidence and trust in the industry,” said Lasanka Perera, the CEO of Independent Reserve Singapore.

However, despite confidence shaking, crypto adoption did still increase, with 43% of respondents stating they had crypto investments, compared to 40% the year prior.

Additionally, a significant number of respondents indicated that they had long term confidence in crypto, with 48% of all crypto investors stating that they plan to increase their current portfolios.

“As recent global financial events continue to unfold, many may also re-evaluate their dependence on traditional financial institutions to safeguard their money and turn to alternative assets such as Bitcoin to hedge against bank defaults and currency debasement,” Perera noted, adding that:

“It is encouraging to see that optimism towards the long-term benefits of cryptocurrency remains strong in Singapore and that investors who adopt a long-term view are reaping rewards.”

Perera also suggested that part of the Singaporean crypto investor’s long-term confidence was due to the government’s well-established regulatory frameworks for the sector.

“Singapore has one of the clearest and robust regulations for cryptocurrencies, which gives investors an added assurance of dealing with trusted players. As Singapore continues to remain open to innovation in digital assets, education remains crucial as awareness and adoption of cryptocurrencies among residents grow,” the CEO stated.

Americans ‘frustrated’ by financial system inequality, 20% own crypto: Survey

Crypto ownership among U.S. adults has remained steady over the last 12 months, with a large portion seemingly “frustrated” by the one-sided global financial system.

A whopping 80% of American adults believe the financial system favors those with “powerful interests,” while 20% currently own cryptocurrency, a new survey has revealed.

Commissioned by crypto exchange Coinbase, the February online survey of more than 2,000 American adults found that 80% of respondents said the “global financial system unfairly favors powerful interests,” while 67% have called for “major changes” or a “complete overhaul” of the financial system.

*A large portion of respondents are disillusioned with the Global Financial System and want change. Source: Morning Consult*

The survey conducted by business intelligence firm Morning Consult was aimed at examining the perception of the global financial system and how United States adults and crypto investors viewed the future of the crypto market and exchanges.

It found that despite the recent FUD and bad news coming out of the crypto space, 20% of respondents said they still own crypto, and nearly a third plan to buy, sell or trade crypto in the next year.

Morning Consult noted that the numbers have remained consistent each quarter since January 2022, drifting between 17% and 20% over the last 12 months, meaning that recent market turmoil may not have shaken retail investor confidence in crypto in America.

“There is reason to be optimistic about crypto’s future. Universally, Americans are frustrated by the inequality in the financial system and are hungry for change,” wrote Morning Consult, adding:

“Crypto investors and younger cohorts of Americans still believe that crypto is a worthwhile investment in the future that can lead to societal benefits.”

Crypto enthusiasm among younger adults also remains high. The survey found that 36% of Gen Z (born between 1997 to 2013) and 30% of Millennials (born between 1981 and 1996) currently own crypto.

*Younger generations remain optimistic about the future of crypto. Source: Morning Consult*

Minority groups were also found to be more likely to hold a favorable view of crypto and be optimistic about the future of the asset.

“Black and Hispanic adults are significantly more likely than white adults to have a favorable impression of cryptocurrency and are more optimistic that ‘Cryptocurrency and blockchain are the future’ than any other cohort.”

Current crypto investors also remain optimistic about the future, with 65% agreeing that the market’s best days are still ahead, while 76% of crypto investors still believe crypto and blockchain are the future.

Some market commentators believe the next bull run will kick off when China adopts a more favorable view of crypto. However, the survey found that more Americans would be interested in entering the market if exchanges were more trusted and secure.

Among the general population, 67% flagged secure and reliable exchanges as important. In comparison, 91% of crypto investors said a trusted, secure platform is vital to the crypto market.

*Many respondents flagged secure, and reliable crypto exchanges as important. Source: Morning Consult*

“How Americans view the reliability of exchanges largely informs their aspirations of cryptocurrency ownership: if Americans feel exchanges are secure, then they are more likely to invest in crypto in the future,” wrote Morning Consult.

Morning Consult conducted the survey between Feb. 10 and Feb. 14, questioning a national sample of 2,202 American adults as well as an oversample of 500 U.S. cryptocurrency investors.

90% of businesses adopting blockchain technology, data

A new survey from CasperLabs found that despite education gaps, enterprise adoption of blockchain technology in the U.S., U.K. and China is set to increase in the next year.

The crypto and blockchain space has had a turbulent past year, but that is not stopping users and enterprises from looking into the industry.

A new survey from CasperLabs and Zogby Analytics revealed that the sentiment around blockchain adoption is especially positive among enterprises. The poll was conducted via 603 business enterprise “decision makers” in the United States, the United Kingdom and China.

Nearly 90% of the businesses surveyed reported deploying blockchain technology in some capacity, with 87% saying they plan to invest in blockchain in the next year. This is particularly pronounced in China, where over half of the respondents plan to invest in blockchain in 2023.

Ralf Kubli, a board member of the Casper Association, said that despite the recent turbulence, companies continue to turn to blockchain for solutions:

“It’s hugely encouraging to see businesses understanding that blockchain is not a competitor but a solution.”

Businesses that are already utilizing the technology are benefiting from two of its main capabilities: security (42%) and copy protection (42%). Those in IT-based operations are using blockchain for things such as internal workflows (40%), supply chain efficiency (34%) and software development (30%), among others.

Kubli commented that 2023 will be a consequential year for the adoption of blockchain technology, “especially in providing real solutions for real-world problems and creating long-term value.”

However, an important finding was revealing where enterprise leaders fall short. Despite the majority feeling confident in their knowledge of blockchain technology (73%), 54% of the respondents still see the terms “blockchain” and “crypto” as interchangeable.

In the same vein, it was reported that the biggest hurdles to adoption are limited developer knowledge, lack of tools, interoperability and cynicism toward the industry. Nonetheless, nearly all of the respondents said they would be more likely to adopt with more understanding and insight into how peers are utilizing blockchain.

Education, along with accessibility, has been a long-standing challenge and barrier for those outside the space wishing to interact with the technology and communicate with clients.

Metaverse to possibly create $5T in value by 2030: McKinsey report

The success of Metaverse will rely on a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users, and citizens.

While the 2022 bear market grazed off the excitement around the budding crypto sub-ecosystems such as nonfungible tokens (NFTs), the Metaverse remains well-positioned for long-term disruption. Considering the myriad consumer and business-centric use cases the metaverse could cater to, a McKinsey & Company report highlights the technology’s potential to generate up to $5 trillion in value by 2030.

For the Metaverse to reach its full potential, the report highlighted the need for four technology enablers — devices (AR/VR, sensors, haptics, and peripherals), interoperability and open standards, facilitating platforms and development tools. However, the success of Metaverse is weighed by a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users, and citizens.

*Metaverse impact by 2030. Source: McKinsey & Company*

To date, metaverse initiatives around marketing, learning and virtual meetings have seen the highest adoption level across various industries. However, a majority of initiatives around Metaverse have seen low-medium adoption, according to an April 2022 survey on senior executives conducted by McKinsey.

*Recommendations for Metaverse implementation. Source: McKinsey & Company*

“The metaverse is simply too big to be ignored,” read the report as it highlighted the impact it can have on commercial and personal lives. McKinsey estimated that over 50 percent of live events could be held in the metaverse by 2030, potentially generating up to $5 trillion in value.

Metaverse is well positioned to host modern-day romantics, as one-third of surveyed singles showed interest in dating in the virtual world. According to a recent survey conducted by Dating.com, an online matchmaking platform:

“With advancements in dating app technology and the metaverse, more daters are open to making connections that span different cities, countries and even continents.”

With Metaverse in the picture, singles are open to dating people from different geographical locations.

Still bullish: 40% of survey respondents plan to buy crypto in 2023

Despite a challenging year for the crypto industry, nearly 40% of respondents indicated a plan to purchase cryptocurrencies like Bitcoin in 2023.

Despite the gloom of the ongoing cryptocurrency winter, coupled with the failures of crypto giants like FTX, the community appears to remain bullish on crypto, according to a new survey.

Crypto markets saw a massive sell-off in 2022, with the total market capitalization plummeting nearly 70% since Bitcoin (BTC) reached its all-time high at $69,000 in November 2021.

But this didn’t prevent investors from buying more cryptocurrency, with 41% of respondents telling Blockchain.com in an online survey that they purchased crypto in 2022.

The study, titled “Crypto Confidence: A Survey on Investor Sentiment,” was conducted between Nov. 28 and Dec. 9 and released on Dec. 22. The firm polled more than 40,000 people globally who visited the Blockchain.com Explorer website, which is one of the world’s largest crypto websites in terms of traffic.

According to the survey results, a significant number of people are also willing to continue to buy cryptocurrency next year. Despite a challenging year for the crypto industry, nearly 40% of respondents indicated a plan to purchase cryptocurrencies such as Bitcoin in 2023.

Additionally, about 40% of respondents said they will talk about crypto around the holiday table this season, which is considered to be a sign of growing awareness.

Apart from general investor sentiment, the survey also provides some geographic insights, noting that Brazil, Nigeria and Ghana are becoming the most bullish countries.

Fifty percent of respondents from Brazil said they bought crypto in 2022, with 50% also planning to buy digital coins next year. Fifty percent of Nigerians said they purchased crypto this year, while as many as 60% of Ghanaian respondents said they expect to buy crypto in 2023.

In contrast, Germany and Italy emerged as some of the most skeptical countries in terms of investor sentiment toward crypto. Only 31% of Italian respondents said they purchased crypto this year, with 29% planning to purchase it next year. Just 34% of respondents from Germany bought cryptocurrency in 2022 and 30% plan to do so in 2023.

Metaverse experience to sway real-world travel choices in 2023: Survey

A survey participated by 24,179 respondents across 32 countries reveal that nearly half, or 43% of the respondents, intend to use virtual reality to inspire their choices.

As borders open up following prolonged COVID-19-induced travel restrictions, the metaverse, one of the latest sub-crypto ecosystems, is set to help travelers decide on the destinations they want to experience in person, reveals a new survey conducted by Booking.com personally.

Popular online travel agency Booking.com surveyed 24,179 respondents across 32 countries, which revealed travelers’ strong interest in virtually exploring destinations as they decide on their itinerary. Out of the lot, people most likely to try out travel experiences in the metaverse were Gen Z (45%) and Millennials (43%).

Nearly half, or 43% of the respondents, confirmed their will to use virtual reality to inspire their choices. Among this group, around 4574 participants believe in traveling to new places only after experiencing it virtually.

Moreover, over 35% of the respondents are open to spending multiple days in the Metaverse to get the hang of the surroundings offered across popular destinations. According to Booking.com, supporting technologies such as haptic feedback will help improve this experience by allowing users to experience sandy beaches and tropical sun without stepping outside.

*Most popular type of vacation. Source: Booking.com*

However, 60% of the respondents believe that the experiences the Metaverse and virtual technologies offer don’t come close to in-person experiences. Some of the most popular destinations for 2023 include São Paulo (Brazil), Pondicherry (India), Hobart (Australia) and Bolzano (Italy).

Tech giant Microsoft’s plan to step into the metaverse business hit a massive roadblock after the United States Federal Trade Commission (FTC) sought to block the acquisition of Activision Blizzard.

The acquisition of Activision Blizzard for $69 billion would have played “a key role in the development of metaverse platforms,” according to Microsoft CEO and chairman Satya Nadella. However, the FTC pointed out Microsoft’s anti-competitive practices, wherein the company limited the distribution of console games after acquiring rival gaming companies.

Turkey has an obsession with crypto — Specifically Dogecoin: Study

A new study reveals Turkey is in second place for crypto-related searches worldwide and first place for Dogecoin-related searches.

The crypto market slump doesn’t mean interest in crypto is also down. A new study from the cryptocurrency education platform CryptoManiaks revealed that many countries are still scouring the internet, hungry for crypto-related information.

According to the study, the Netherlands and Turkey take the top two spots, with 8.2% and 5.5% of the population, respectively, searching for crypto-related terms. Turkey particularly accounted for 4.7 million searches, leading the searches with sheer numbers.

The study analyzed the combined number of searches for a select set of popular cryptocurrencies into a percentage of the population for each country in order to calculate the percentage of locals searching each month.

While it was in second for overall searches, Turkey came in first place for searches related to the memecoin Dogecoin (DOGE), with 812,000 monthly searches. This is nearly double that of Ether (ETH), the country’s third most searched crypto.

A spokesperson from CryptoManiaks commented on the DOGE curiosity, particularly over the last 12 month:

“Dogecoin’s popularity has surpassed that of Ethereum in a significant number of countries, with nearly 2 million more monthly searches worldwide for the coin.”

The cryptocurrency DOGE has remained a popular digital asset and crypto cultural phenomenon after it was adopted as the poster crypto for internet icon Elon Musk.

Some of the cryptocurrencies included in the search terms were Bitcoin (BTC), Solana (SOL) and BNB (BNB), among others.

Following the Netherlands and Turkey in the ranks were Germany, Canda and the Czech Republic.

While the United States and the United Kingdom are major players in the global cryptocurrency industry, neither ranked in the top spots due to the number of searches equivalent to their population sizes. The U.S. ranked 15th with 1.9% of the population searching for these terms, while the U.K. takes the 12th spot with 2.6%.

Recent research from Cointelegraph also revealed that despite market conditions, major institutions still remain interested in the industry and continue to pour millions into crypto-related projects.

38% of US voters will consider candidates’ position on crypto in midterms: Survey

Initiated by Grayscale, the survey suggests crypto regulation is a bipartisan issue, with the majority of Democratic and Republican respondents saying they want clarity.

Roughly a third of eligible voters in the United States will be “considering crypto policy positions” when choosing candidates in the 2022 midterm elections, according to a new survey.

In the results of a 2,029-person survey conducted by The Harris Poll between Oct. 6 and 11, 57% of likely midterm voters say they would be more likely to vote for a political candidate interested in staying informed about cryptocurrencies, while 38% said they would consider positions on crypto policy when voting in the midterms. The survey, initiated by Grayscale Investments, also suggests that crypto regulation is a bipartisan issue, with 87% of Democratic and 76% of Republican respondents saying they want clarity from the U.S. government.

“Voters and lawmakers alike have been hearing about crypto, and it seems they’ve taken the opportunity to learn about the asset class,” says the Grayscale summary. “Despite political divisions, the survey found broad familiarity with crypto across party lines and a majority of both Republicans and Democrats who agree that crypto represents the future of finance.”

“This survey reinforces that #crypto continues to generate diverse, mainstream investor interest and engagement,” said Grayscale CEO @Sonnenshein. Compare your answers with the results here: https://t.co/SLus4nfopk

— Grayscale (@Grayscale) November 1, 2022

Early voting for the U.S. midterms has already begun in many states, with Election Day set for Nov. 8. The future majority control of both the House of Representatives and Senate hangs in the balance, with a number of issues driving many voters to the polls, including abortion, gun control, free and fair elections, and the economy — including crypto.

Speaking to Cointelegraph, Jeff Howard, North American head of business development at digital assets platform OSL, suggested that many may consider digital assets as part of financial inclusion efforts, but the space largely isn’t big enough to appeal to single-issue voters in the United States:

“I don’t think crypto has seeped into the psyche of American voters as much yet. In every topic or every issue, you have a hardcore group that supports or a group that is against, but I don’t think crypto in and of itself as a one-issue vote has gotten big enough to matter yet.”

In the current session of Congress, 220 representatives in the House caucus with the Democrats, while Republicans hold 212 seats, and three remain vacant. All 435 House seats are up for election, as are 34 of those in the Senate. Democrats currently hold control of both chambers by a slim majority, giving Republicans a chance to flip both on Nov. 8.