What happened?
The first-person shooter game SHRAPNEL has become China’s first licensed Web3 game, built on the country’s official RWA Trusted Copyright Chain. The game, developed by a team from HBO with experience in popular titles like Halo and Assassin’s Creed, will launch with blockchain support to certify digital assets and intellectual property rights. SHRAPNEL is expected to debut later this year with a game launcher specifically designed for the Chinese market.
Who does this affect?
This initiative impacts Chinese gamers by introducing a compliant way to trade in-game assets, which are tokenized on the Trusted Copyright Chain. It also affects international developers looking to enter the Chinese market as it provides a legal framework for overseas content to be available in China. Finally, the collaboration involves China’s government and companies like Lingjing Game Labs, aligning their digital strategies with gaming innovations.
Why does this matter?
The partnership between SHRAPNEL and the Chinese government is significant because it represents a pioneering step into blockchain gaming within the nation’s massive gaming market. This move may set new standards for digital asset ownership and trading in China, potentially boosting the popularity of blockchain-based games. Additionally, this collaboration could open up new business opportunities and catalyze further growth within the multi-billion-dollar gaming industry in China.