Google Play has announced that developers can now integrate digital assets, including non-fungible tokens (NFTs), into their applications and games available on the platform.
Developers offering the option to purchase, sell, or earn tokenized assets will be required to explicitly disclose the presence of blockchain-based elements within their apps through the Play Console.
The policy change is a significant step forward for the NFT and blockchain gaming industry. It allows developers to create more innovative and engaging experiences for their users, and it opens up new opportunities for monetization.
The Philippines is a particularly interesting market for NFT gaming. The country ranks fourth globally in terms of NFT gaming adoption, and there are a number of web3 startups emerging in the Philippines to meet the growing demand.
Upcoming events of interest include the Web3 Community Summit in July and the Philippine Blockchain Week 2023 in September. These gatherings serve as valuable opportunities for enthusiasts and industry professionals to convene, exchange ideas, and explore the potential of the web3 and blockchain space.
Google Play opens doors to NFTs and Blockchain-based content
Developers can now integrate NFTs and other Blockchain-based content into their apps and games on Google Play
At a glance
In a significant policy shift, Google Play has announced that developers can now integrate digital assets, including non-fungible tokens (NFTs), into their applications and games available on the platform. However, developers offering the option to purchase, sell, or earn tokenized assets must explicitly disclose the presence of blockchain-based elements within their apps through the Play console.
Joseph Mills, Group Product Manager at Google Play, emphasized the potential for partners to revolutionize "traditional games with user-owned content" and enhance user loyalty by offering unique NFT rewards. While acknowledging the immersive and enriched experiences that tokenized assets can provide, Mills stressed the importance of maintaining user trust. As a result, developers are prohibited from promoting or glamorizing any potential earnings from playing or trading activities under Google Play's Real-Money Gambling, Games, and Contests policy. Consequently, apps that do not meet the eligibility requirements for gambling cannot encourage users to purchase in-game items, such as "loot boxes," with the prospect of winning NFTs.
The emergence of NFT-based online gaming has gained considerable momentum, primarily influenced by the success of Axie Infinity. This game has attracted a staggering 2.5 million players globally and generated $2.3 billion in sales in 2021 alone. Southeast Asia, in particular, has witnessed a surge in the popularity of video game NFTs, driven by players seeking opportunities to earn income.
Statistics reveal that the Philippines ranks fourth globally in terms of NFT gaming adoption. A survey conducted on NFT gaming revealed that 25 percent of players from the Philippines actively engage in NFT games, with an expected increase to 40 percent by the end of 2023. Notably, India, Hong Kong, and the United Arab Emirates are the top three countries for play-to-earn (P2E) gaming, with the Philippines securing the fourth spot, surpassing even the United States. In the Philippines, NFT gaming appeals to individuals across all age groups, ranging from 18 to over 55 years. Surprisingly, even older players claim they earned money while playing NFT games.
Amidst the pandemic, Axie Infinity gained significant attention due to its large user base in the Philippines, where many turned to P2E gaming as a reliable source of income.
Additionally, numerous web3 startup companies are emerging during the current bear market. DvCode Technologies Inc, an IT solutions company specializing in GameFi, DeFi, and NFTs, is one such example. Ark of Dreams, a metacommerce platform, facilitates the connection between traditional brands and web3. Tetrix, with its Pitaka non-custodial wallet, also contributes to this growing ecosystem. Furthermore, The BLOKC empowers developers and builders to shape their future by mastering in-demand skills and working towards a decentralized future.
Upcoming events of interest include the Web3 Community Summit in July and the Philippine Blockchain Week 2023 in September. These gatherings serve as valuable opportunities for enthusiasts and industry professionals to convene, exchange ideas, and explore the potential of the web3 and blockchain space. (Eli Rabadon)