To say that Australia is a nation of gamers, that would actually be quite an understatement, particularly when we consider the statistical evidence. Three in four people are engaged by mainstream video gaming, while the same amount actively participates in gambling activities, which explains why the term iGaming is used for that sector.
Coincidentally, both entertainment sectors have recorded the same statistical numbers, in terms of participation among the adult population of Australia, whether we check via market research companies, government agencies, or advocate bodies for each. And given that widespread adoption, forging a strong and vibrant culture for gaming in modern society, it’s hardly surprising to observe that development of games is also thriving Down Under.
Over the last couple of decades and in the midst of a constantly evolving digital age, Australia has constantly positioned itself at the forefront of innovation and creativity, always keen to balance initial risks against the potential rewards of long-term success. Looking ahead, albeit informed by initial steps already taken, Web3 gaming promises to bring an entirely new and exciting wave of gaming options to the mainstream.
Key Players Already Based in Australia
Recently, we reported on how Australia’s leading Web3 founders are keen to invest, having launched the Upside DAO with $5m in funding. They are genuine tech pioneers who are eager to support their home nation, providing valuable financial support for Web3 startups, already enabling the most promising developers and encouraging further interest, helping attract attention to a thriving scene that already exists here.
While the blockchain technology that underpins Web3 has been around for some time, its impact on the third iteration of the World Wide Web will undoubtedly be transformative. One of the first major Australian players in this emerging sector is the Immutable Group, headquartered in Sydney and originally founded in 2018, by veteran investors and developers with vast experience in blockchain and crypto technologies.
This group consists of two main branches. Immutable Platform brings the preferred development tools for building and scaling Web3 games on the Ethereum network, alongside forging a partnership with Amazon Web Services (AWS). In addition to this, Immutable Games is already one of the biggest developers and publishers of Web3 games, most of which is realized at Australian studios.
Having such knowledge and experience means that over the coming years, Australia is likely to become one of the major hubs for Web3 gaming development. At present, the biggest market for the sector is in Asia, and while the Western market currently lags behind, Aussie companies can provide an important bridge between the two, riding the crest of a wave as this gaming segment gradually attracts the mainstream audience worldwide.
Blockchain Was Adopted Early in iGaming
The concept of blockchain gaming was forged around decentralization, just as it was for cryptocurrencies, and that’s an intriguing prospect for the games industry as a whole. But the underlying technology also comes with many other benefits, including much greater transparency and accountability among users, plus enhanced safety and security where deployment already exists across various platforms.
One segment of gaming entertainment quickly embraced blockchain technology, when iGaming sought to enhance the overall wagering experience for consumers. This can be observed when reading legit casino reviews for the most reputable online operators, highlighting the key reasons why such gambling websites can be trusted.
Alongside accepting cryptocurrencies like Bitcoin or Ethereum and others for transactions, leading casino sites have now based much of their infrastructure around blockchain. This is now recognized by regulatory and compliance bodies, when issuing licenses for gambling operations, aware of how important blockchain and crypto have become to the wider industry.
In the most practical sense, blockchain has provided iGaming sites with smart contracts and immutable ledgers. These vastly improve not only the efficiency and reliability of transactions, but also the provable fairness of casino games. Already, tokenization has appeared at some casino sites, as they also strive to join the Web3 gaming revolution, particularly interested in the scope and potential of reaching a wider audience.
Surfing Towards Gaming Success
Australia has already established itself as a major game development hub, and one of the foremost countries in the world for taking strides in tech advancement. Innovators already have their digital surfboards waxed and ready here, enthusiastic about catching the next wave of gaming technology, riding at the crest as it rolls around the new iteration of the World Wide Web and provides oceans of potential.