Prominent Japanese gaming companies Sega, Square Enix, and Konami have partnered with Coincheck, a cryptocurrency exchange listed on the New York Stock Exchange, to form a new blockchain gaming alliance.
Alliance Members and Objectives
According to a press release from the Japan Cryptocurrency Business Association (JCBA), the alliance also includes COLOPL, Drecom, and the play-to-earn gaming firm BrilliantCrypto. Additionally, Tokyo-based legal firms Mori Hamada & Matsumoto and Anderson Mori & Tomotsune are part of this collaboration. These firms are recognized as two of Japan’s “big four” international law firms.
This new initiative, operating under the JCBA umbrella, will function as a dedicated subcommittee. Similar subcommittees within the JCBA already focus on NFTs, Decentralized Finance (DeFi), and stablecoins.
Leadership Roles in the Alliance
The subcommittee will be chaired by Coincheck President Tomoyuki Isaka, with Square Enix’s Keisuke Hata serving as vice-chair. Representatives from Konami, SEGA, COLOPL, and Drecom will also hold executive roles, contributing their expertise to the initiative.
Legal and Regulatory Focus
The alliance aims to address various challenges, including legal, accounting, and tax-related concerns. Its goals include making cross-industry recommendations and exploring the development of blockchain-based games. The subcommittee will also conduct case studies to promote innovation while tackling issues related to NFTs and cryptocurrency integration in gaming.
Japan is known for its stringent regulations in both the crypto and gaming industries. Critics argue that unclear legal, accounting, and taxation guidelines have hindered Japanese firms from fully embracing blockchain gaming technologies.
A Growing Organization with Self-Regulatory Goals
Founded in 2016, the JCBA has grown to include 155 member firms. Over time, it has assumed self-regulatory responsibilities and frequently advocates for policy changes with government bodies.
Gaming Giants Embrace Blockchain Innovations
Earlier this year, Konami partnered with the Avalanche blockchain to develop an NFT trading platform. Sega and Square Enix have also shown significant interest in blockchain technology and NFTs. However, Square Enix’s blockchain-related initiatives have faced resistance from some gaming communities.
This partnership between industry leaders and Coincheck signals a potentially transformative step for blockchain gaming in Japan, with the alliance working to overcome regulatory barriers and innovate in this evolving field
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