PolkaFantasy’s Exclusive Interview with CAICA: Buidl a Better GameFi Future
The CAICA DIGITAL Group is the rising star in the Japanese market with new business and system launches using blockchain technology, making best use of knowledge and know-how from the dawn of the industry.
The group is entering the Web3 world and establishing its business with a new model. The announcement of CAICA Financial Holdings launching a GameFi marketplace “Zaif INO led us to Mr. Ikeda, the director of CAICA Exchange.
This article summarizes the interview — where you can find out everything about the future of GameFi and how both companies are going to expand and popularize the Japanese GameFi market while involving exchanges together!
Alex: Hello, Mr. Ikeda!
Mr. Ikeda: Hello Alex! This is my second time meeting with you. I left our meeting early last time but I heard from our staff that you had a great time meeting them and had a great chat. It makes me regret leaving early (laughs). I have been looking forward to today!
Alex: The honor is mine!
◆A Unique GameFi Market in Japan
Mr. Ikeda: The Japanese market is still deep in the mobile gaming world. Talking to people from different GameFi projects, I am surprised that they haven’t touched the GameFi space.
Alex: I agree. There are many people in Japan who are used to social games. That’s why I think we should start with the basics: how blockchain games are different from social games , and why it’s necessary to play blockchain games.
I also feel that players in Japan are really looking for game playing ability. For example, if you say that an existing game will release a single collection NFT, there will be a backlash from existing users and SNS will be full of complaints.
Mr. Ikeda: Yea.
Alex: It’s not about profits. Users are looking for good yet immersive gaming experiences. Generally, overseas users are looking for games with good game design. They tend to nter the blockchain game space more easily than the Japanese people as they are not familiar with the concept of social games.
Mr. Ikeda: Definitely. Social games are still standing strong in Japan. I feel that blockchain games will be more popular in the future.
◆En Route to Success
Alex: Japanese people are accustomed to social games. It would be much easier for the them to enter the realm of blockchain gaming if they get to know this combination of gaming and earning at the same time. This will get more and more promising in the Japanese market in no time.
Mr. Ikeda: That’s true! People in Japan now take digital payments very seriously. But four or five years ago, I never would have thought that would happen in Japan.
Mr. Ikeda: It’s a testament to something that was questioned a few years ago is now very common. So I think the era of GameFi will definitely come.
Alex：Now more and more overseas projects emerges. There are projects with fair understanding of the Japanese culture but also there are others that don’t. My concern is that projects that come in from the perspective of money will confuse the Japanese market.
Mr. Ikeda: Everyone thinks that something like Gacha will happen when social games start.
Alex: That’s right. If the market becomes turbulent, the government will impose stricter regulations. So next year is very important for the Japanese market.
◆Exchanges & GameFi Markets
Mr. Ikeda:I think it would be nice if Japanese exchanges intervened to scrutinize over-the-top projects and safeguard their assets in the market. If we can create a framework that only works for good projects, we’ll be able to push the gaming industry to higher levels.
Alex: Isn’t there an examination process when new tokens are listed? Similar to exchange listing, if a GameFi project gets regulated, users can then purchase NFTs and tokens with peace of mind.
Mr. Ikeda：I can’t agree more. The platform we are launching in November is based on such a framework. The GameFi Marketplace is created by our group, Caika Financial Holdings (CFHD), and I am the general manager. What we would do is: we whitelist them, intervene to check the quality of the project, and support the sale of NFTs.
◆The Key to Accelerate BCG Growth
Alex: I think that a healthy market is necessary for wider adoption of BCG. If people in the cryptocurrency industry can invest with the peace of mind, it will be a lot easier for the general public to follow suit.
PolkaFantasy offers free-to-play. We are creating an environment where the general public can easily participate. If we can build a bridge between the crypto industry and the general public, mass adoption would grow exponentially.
Mr. Ikeda：Also, blockchain games can extend beyond mobile devices. If companies and studios move in the same way ranging from small sizes to well established ones, more people will be able to enjoy them.
◆Decentralization in the GameFi World
Alex: What do you think about the increasing number of centralized GameFi games?
Mr. Ikeda：I don’t think centralization makes sense in the concept of GameFi. A game is a world owned by the user, so I think it’s better to not take control of it.
Alex: Same here!
Mr. Ikeda: Japanese exchanges are especially like that. So I guess everyone is still looking at it from the sidelines when it comes to going into the open world of GameFi. If someone goes, they will follow. But the laws and regulations are disencouraging them to do so. It seems that every exchange is still waiting for someone to be the first.That’s why I believe now is our chance.
Alex: I think there are a lot of good centralized games, but the problem is that they likely just borrow the name of the blockchain, and they don’t really change what they’re doing.
(I’m not sure, so I probably shouldn’t say this though.)
Mr. Ikeda： Yes, it’s like they’re making their own laws. That’s how it feels.
Alex: Especially in the GameFi market, there is no standard nor benchmark yet.
It’s not good for people to be caught up in conventional concepts and stuck. If you say that you can’t do something because it’s unprecendented, why did you even enter the blockchain industry to begin with? Now that I’ve joined GameFi, I realize that I can’t create a future for GameFi, unless I’m prepared to break the established rules.
On the other hand, your company taking on challenges is really impressive, and PolkaFantasy wants to release content and services that disrupt the industry’s current concepts.
Mr. Ikeda：I believe that exchanges have a mission not only to buy and sell. That’s why I think it would be great if we could find a good project and create a gateway with proper management.
◆Japan to Lead GameFi Industry in Asia
Alex: I think the Japanese market is still challenging. The landscape of the industry will probably change as more and more large companies enter the market.
Mr. Ikeda: At this year’s Tokyo Game Show, there were quite a few introductions about playing games on laptops and using VR on laptops. If we take that a little further, a blockchain game would be the mainstream next.
Alex: The market for social games is already saturated, but the world of blockchain games is still a blue ocean with huge potential to capture the market.
Mr. Ikeda: In the financial world, Hong Kong, Singapore, and Shanghai are the major cities.
Mr. Ikeda: But I think Japan can be in an important position when it comes to leading the development of blockchain games. We are more than capable of producing high-quality projects and lead in Asia.
So, through our service, we would like to make it a hub-like platform that can transmit projects from Japan to overseas, and vice versa. We are getting close to the vision of “We can do what OpenSea can do!” We want to be the gateway for GameFi projects to expand globally.
If blockchain games become available in formats such as NETFLIX games or AMAZON Prime games, this will change everything. I’m sure we can do it!
Alex: Let’s grow this industry together! I look forward to working with you!
PolkaFantasy is the world’s first Japanese ACG-dedicated blockchain ecosystem, with its unique NFT marketplace, NFT wallet and multiverse games.
We bring only the top-notched artwork to PolkaFantasy NFT Marketplace where Japanese artists and creators can connect with supporters. We deliver the best immersive experience to users that they can discover, trade, and interact with any digital collectibles and game assets.
Within the holistic ecosystem, PolkaFantasy is a metaverse with mystical GameFi and play-to-earn mechanisms. We created a never-before-seen land system where lands can be used across the magical realms of PolkaFantasy. With further gaming details, PolkaFantasy is going to change the current dynamics of GameFi and bring forth a new future to the world of blockchain.
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