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South Korea’s Gamevil acquires blockchain tech company


forkast.news 25 November 2021 09:36, UTC
Reading time: ~2 m

Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games.

Fast facts

  • Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has been internalized into Gamevil’s development team — the company targets its newly obtained blockchain know-how into building e-wallets for its non-fungible token (NFT) exchange and developing a blockchain-based advertisement solution for HIVE, its global game service platform.
  • Gamevil’s HIVE platform is transitioning into a blockchain-based open gaming platform to enhance the environment for companies developing blockchain-based games and to facilitate convenient trading of NFTs. Gamevil’s NFT exchange is set to launch in the first half of 2022.
  • Meanwhile, blockchain-based games that reward users with cashable NFTs are banned in South Korea due to possible promotion of speculative behavior. The country’s gaming committee official said last week the ban will not be lifted unless a change is made in the gaming law on speculation.

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