Odaily’s Interview with Seihaku Yoshida Unveils the Potential of Japan’s Web 3 Market.

Abstract: The development trends and opportunities of Japan’s Web3 market in recent years.

TOKYO, JAPAN, Aug. 28, 2023 (GLOBE NEWSWIRE) — When you think of the Japanese crypto market, what comes to mind? Due to language barriers, many people have limited knowledge of the crypto world in Japan, thereby often missing excellent projects and hidden wealth. However, recently, Odaily interviewed Seihaku Yoshida, the founder of HashPort Group. In the interview, Seihaku Yoshida discussed HashPort’s development history and the status quo of the Japanese blockchain gaming market. He also provided detailed insights into HashPort’s upcoming product. Let’s explore the details following this interview and unveil the mystery of the Japanese market.

Part One: About HashPort Group

Odaily: Could you please introduce yourself and the development history of HashPort Group, Mr Yoshida

Seihaku Yoshida: I founded HashPort in 2018 and have been working in the blockchain field ever since. The expansion of the blockchain industry left a strong impression on me, and I began to believe that blockchain would spread globally just like the internet. Currently, HashPort provides digital platform services including our Web3 wallet platform and SoulBound Token. We also provide Web3 technology services to clients in traditional industries such as Sumitomo Mitsui Banking Corporation and Toyota.

In March 2020, HashPort established HashPalette as a subsidiary focusing on Layer1 blockchains. In collaboration with Coincheck, the company issued Japan’s first IEO audited by the Japanese Financial Services Agency, with a total issue of about 900 million yen, attracting subscriptions of about 22.4 billion yen. Palette Token (PLT), the native token of “Palette Chain”, a Layer1 blockchain network, was listed on five Japanese exchanges, including Coincheck and Bitflyer and its price has never dropped below its IEO price. Meanwhile, HashPalette also operates one of Japan’s largest NFT trading platforms, “PLT Place,” with 370,000 registered users and an in-house studio team dedicated to developing X to Earn products.

Part Two: About the Japanese Web3 Market

Odaily: Compared to other countries, Japan’s Web3 industry is subject to more stringent compliance requirements. What efforts has HashPort made in this regard?

Seihaku Yoshida: HashPort is a pioneer in Japan’s Web3 industry and the first company to conduct crypto-based fundraising under the review of the Japanese Financial Services Agency. To my knowledge, it also has the highest valuation and the most employees among Web3 companies in Japan, excluding crypto exchanges.

We have established an administrative department, including a team of internal lawyers, to ensure we conduct business in strict accordance with Japanese laws, setting an example for other Web3 companies in Japan. 

For these reasons, HashPort is the only Web3 company on the “List of 100 Startups with Cooperation Records with the Government” issued by the Ministry of Economy, Trade and Industry.

Odaily: How is the development of Japan’s blockchain gaming industry?

Seihaku Yoshida: Let’s first discuss the development challenges faced by the blockchain gaming industry.

Firstly, this industry has a high entry barrier for users. Current blockchain games often require knowledge of blockchain technology and crypto assets, which may be difficult for ordinary users due to their higher complexity compared to traditional games, involving additional steps like setting up wallets, understanding transactions, and paying gas fees.

Secondly, there is a need for public education. Currently, the industry lacks widespread information about the benefits of blockchain technology, such as security and player rights. This makes it difficult for players to establish trust in blockchain games and leads to concerns about risks such as fraud and cheating.

Additionally, there are issues with regulations. Many countries have regulations on blockchain and crypto assets. Players in relevant businesses must adapt to this situation and comply with the constantly changing laws. Especially in Japan, from the legal perspective, there can easily be a gap between the ideal blockchain game one wants to create and the actual game one can develop.
Next, to spark a promotional wave, I believe the following aspects can be focused on:
Firstly, improving user experience. Developers need to create intuitive UI and user-friendly wallets and game platforms, reducing the sense of alienation caused by the complexity of blockchain technology and creating an ideal environment for ordinary users to easily join the game.

Secondly, collaboration for promotion. Partnering with existing major companies and brands will help spread the appeal and potential of blockchain games.

Thirdly, engagement. Games that offer real rewards and genuine incentives to players could generate higher engagement compared to traditional games. This will be a significant factor in attracting new users and investors.

In conclusion, the popularization and success of blockchain games in Japan depend not only on technological advancements but also on improved user experience, market education, and collaboration across the industry. In HashPalette’s upcoming release, “THE LAND,” we will focus on user experience, making the game a natural choice for new users in the blockchain space. Stay tuned!

Part Three: About the Upcoming New Project

Odaily: Could you briefly introduce “THE LAND”?

Seihaku Yoshida: Speaking of “THE LAND,” we are challenged to create a “Play-to-Earn” Metaverse game that complies with Japanese regulations. Our design concept is a “Metaverse with Destination” centered around three specific elements: farming, social interaction, and creation, aiming for a deeper and unique gaming experience. 

The first element is “farming.” It includes a system where players can earn tokens by planting crops and developing cities. This system allows players to earn income solely through effort and time spent in the game without spending money. 
The second element is “social.” The game provides a complete variety of mechanisms, such as competitions, cooperative gameplay, and real-time chatting, allowing players to enjoy the game together with others. Through this, we aim to create a player community spawn from the game. 

The third element is “creation.” In collaboration with external creators and partners, “THE LAND” allows partners to provide and develop original content within the game. This is a vital step for the ongoing development and diversification of the game, ensuring players’ continuous new experiences. 

Overall, the goal of “THE LAND” is not only to become a beloved game but also a product that uses next-generation digital technology to bring new ways of life.

Odaily: What innovations does “THE LAND” provide in terms of gameplay and economic systems compared to traditional blockchain games?

Seihaku Yoshida: We have introduced innovative gameplay in the three elements mentioned earlier: farming, social interaction, and creation. 

Firstly, in terms of farming, players can earn tokens based on crop cultivation and town development. Even players who have not purchased NFTs can earn profits through free gameplay. Both Free-to-Play players with some in-game purchases and players who aim to spend a lot on NFTs can experience fun in the game. Additionally, the sustainable economic system built on resource circulation in this game of various player types is one of our major innovations. 

Secondly, in terms of social interactions, we have added numerous features that can enhance player communications. Community interactions in the game extend beyond the game itself and can even become a part of most players’ daily lives. This will create a new world for people to go about day in and day out,  and this universal Metaverse will keep expanding. 

Lastly, regarding creation, we will collaborate with external developers and partners to provide and develop unique content and game offerings. Through this approach, the game can continue to evolve, and both developers and players can enjoy more experiences. This is the most significant advantage that sets this game apart from others.

Part Four: Specific Details of the New Project

Odaily: The three main aspects of “THE LAND” are social interaction, farming, and creation. How are these three aspects organically integrated?

Seihaku Yoshida: Based on what we’ve discussed, we can say that farming is at the core of the game. When players start the game, they are first exposed to farming. Through planting crops and expanding towns, players gradually become involved in social elements. For example, in the beginning, players are limited to single-player farming, but as they progress in the game, they can engage in cooperative farming and find more opportunities for interactions, leading to the formation of a community. During the community’s development, continuous creation by partners and developers will generate new farming experiences and accelerate the expansion of the social network. The reinforcement of these new experiences and interactions will further drive the creation of new content, leading to a positive cycle of development for the entire project.

Odaily: “THE LAND” has introduced three types of tokens. How are these three tokens interconnected and integrated into the game’s economic system?

Seihaku Yoshida: Strictly speaking, the three tokens serve different purposes. One is a crypto asset, another is an in-game-purchase currency, and the third is an in-game circulation currency. Together, they support the in-game economic system and are interconnected. The three tokens are called ELF Token, EAU Gold Coin, and EAG Silver Coin, respectively. 

The ELF Token has various functions. They can be traded on marketplaces and used for equity pledging in the game. ELF holders are entitled to participate in management. Holding this token gives players a certain level of influence and privilege within the game. 
The EAU Gold Coin is used to purchase in-game props and gacha items. They can also be used to stimulate crop growth and purchase avatar costumes and in-game facilities etc. The EAU Gold Coin assists in obtaining ELF Tokens and plays an important role in the game. 

Lastly, the EAG Silver Coin serves as the in-game circulation currency, used for facility construction and item purchases. Transactions among players can facilitate economic exchanges in the game. 

The three tokens are interconnected. To obtain ELF Tokens more effectively, players must use EAU Gold Coins wisely and engage in player-to-player exchanges using EAG Silver Coins while participating in various in-game activities on the premise of maintaining economic equilibrium

Odaily: Your official whitepaper mentions the issuance of Master NFTs alongside the game. Could you briefly introduce the purpose of Master NFTs? Will they be given other empowerments in the future?

Seihaku Yoshida: Master NFTs can be used in the “auxiliary system” for Master work. Moreover, different skills can provide benefits such as improving work efficiency and increasing crop yields. The number of auxiliary skills that can be used has an upper limit. The higher the rarity level of a LAND, the more Master NFTs can be used. Additionally, by using Master NFTs on in-game characters, players can turn characters into their favorite masters. As the game keeps updating, additional features will be added in the future. Please stay tuned.

Odaily: In the future, will “THE LAND” consider collaborating with relevant Web2 companies for better game promotion?

Seihaku Yoshida: Yes, we intend to collaborate with Web2 companies. 

After all, blockchain games are still an emerging field, and there are very few veteran players in the related area. Therefore, we must work with Web2 companies to attract new players and increase the player base. Web2 companies are experienced in advertising and marketing, and through collaboration, we can better establish a promotional strategy to enhance the game’s appeal. 

Furthermore, Web2 companies are proficient in enhancing player engagement. We hope to create an environment where players can play the game for a long time and continue to enjoy it by providing in-game activities and gameplay and strengthening player interactions and communications. 

With the fusion of Web2 knowledge and Web3 technology, we believe we can provide a more appealing gaming environment.

https://hashport.io/

Disclaimer: The information provided in this press release is not a solicitation for investment, or intended as investment advice, financial advice, or trading advice. It is strongly recommended that you practice due diligence (including consultation with a professional financial advisor) before investing in or trading securities and cryptocurrency.

CONTACT: Wu Shihhao HashPort Co., Ltd. studio_hpt at hashport.io

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