A number of Vietnamese companies are eyeing the fast-growing blockchain gaming market and achieving their goals by developing the next big blockchain game.
Axie Infinity has started a trend
Launched by Vietnamese company Sky Mavis, the Axie Infinity marketplace has served 1 million unique cryptocurrency wallets since its launch in March 2018. 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 games have gone beyond testing the boundaries to actually developing good products.Axie Infinity has catalyzed the start of the blockchain gaming boom, and several other Vietnamese companies have decided to join the race. With 57% of the country’s 68 million smartphone users spending an average of 3.9 hours a day playing games, Vietnam currently ranks second in Southeast Asia in terms of mobile game downloads.
Blockchain games loved by investors from Vietnam
Apart from Axie Infinity, the Vietnamese blockchain market also includes Sipher, Faraland, Heroverse, Zuki Moba, My Defit Pet, MeebMaster, Theta Arena, and others.
Sipher, a multiplayer online battle arena (MOBA) game, recently raised $6.8 million from US and South Korean investors to fund their next big project, “The World Of Sipheria”. In anticipation of the launch, the team launched an NFT of one of the game’s main characters, resulting in over 10,000 Sipher Inu NFTs selling out in less than 15 minutes.
Another popular multiplayer game that originated in Vietnam is Faraland. the RPG metaspace on Faraland features character NFTs and recently raked in $2.4 million in investment. In addition, the puzzle and strategy RPG HeroVerse raised $1.7 million.Zuki Moba, another MOBA game created by a Vietnamese company, recently made news for raising $1.4 million from major international investment funds such as Kyber Network and Coinsgroup.
Challenges in the market
According to Project SEED CMO Thao Trang, the global industry sees Vietnam as a blockchain ecosystem and not just as a standalone project. However, the lack of suitable candidates in the market has created a barrier to hiring for different roles in blockchain game development. As a result, the SEED project hires candidates who specialize in blockchain or game development and then teaches them to acquire the necessary skill sets.
“Conflict between these two groups is common. Blockchain is changing every day and developers must always be alert and ready to respond to market reactions.”