Timor-Leste: The Newest Global iGaming Jurisdiction

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Iskra, a leading Web 3 game platform, entered into a partnership with Agate, the largest video game studio in Indonesia, in September 2023. The collaboration is set to bring forth “Atma: Battle of Souls,” a supernatural techno-thriller RPG, immersing players in a world where advanced technology converges with ancient beliefs. The game is slated for release in the first half of 2024.

This collaboration taps into Indonesia’s thriving Web 3 and video game market, where the nation ranks 4th globally for time spent on games, averaging 8.54 hours per week. Indonesia’s dynamic gaming culture positions it as a prime market for Web 3 gaming expansion. Moreover, Indonesia boasts a video gaming revenue of 1.45 billion USD and a staggering 270 million game players.

The Indonesian government’s fervent support for blockchain technology is evident through their imminent trials in applying blockchain for public service use cases and the recent launch of a national crypto asset exchange, which reflects their commitment to fostering a conducive environment for technological innovation. Tuhu Nugraha’s perspective, the principal of the Indonesia Applied Digital Economy and Regulatory Network, highlighted the government’s collaborative approach to Web 3 technology. He emphasized that the government is actively engaged with various blockchain-focused associations, conducting experiments to understand the implications of blockchain technology across sectors.

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“Recognizing Indonesia as a crucial market for growth in both Web 3 and video games. We are committed to working with major partners like Agate, and thankful for the support of the Indonesian government in furthering Web 3 gaming opportunities,” Ben Colayco, Chief Business Officer at Iskra, said.

Shieny Aprilia, CEO and Co-Founder of Agate, said: “This collaboration with Iskra is a significant step forward in our commitment to pushing the boundaries of Web 3 gaming. Together, we aim to create immersive and interactive experiences, through Atma: Battle of Souls, that will captivate gamers and enthusiasts worldwide, offering a glimpse into the exciting future of the decentralized gaming ecosystem.”

As plans for further localisation of game offerings and on-the-ground community-building initiatives gain momentum, the Web 3 game platform eagerly anticipates the warm embrace of even more users from the Southeast Asian nation. The collaboration between Iskra and Agate signifies not only a strategic alliance but also a collective pursuit of redefining the landscape of Web 3 gaming on a global scale.

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