S.Korean game producers chase NFTs in real-money boost for players and firms

s korean game producers chase nfts in real money boost for players and firms

Sumary of S.Korean game producers chase NFTs in real-money boost for players and firms:

  • However, South Korean regulators have banned NFT-applied games in the country on concerns these new services could fuel gambling addiction among teens and the very young.
  • “It’s not the blockchain technology that we are banning,” an official at South Korea’s Game Rating And Administration Committee told Reuters on condition of anonymity as she wasn’t authorized to speak with the media.
  • Article content That didn’t stop South Korean game maker Wemade Co Ltd from going ahead with the global release of its NFT-applied game, MIR4, in late August.
  • Axie Infinity, an NFT game developed by a Vietnamese unicorn Sky Mavis, has attracted 1.8 million players worldwide, generating $33 million in daily transactions as of August, according to the company.
  • In Wemade’s MIR4 game, at present, players can only make money by mining ‘Dark Steel’ – the main game resource which helps boost the strength of weapons and characters – that can eventually be converted into a listed-cryptocurrency WEMIX.
  • com, An Young, the head of Wemade’s public relations team, told Reuters.
  • Despite the local regulatory hurdle, other South Korean game developers are also looking to cash in on the NFT boom.
  • Earlier this month, NCSoft Corp said it is readying release of a game that includes NFT and blockchain elements next year.

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