NHN Corporation, a Korean entertainment conglomerate with more than $2.4 billion in total assets, announced on Friday that it has teamed up with US-based Mysten Labs, the creators of the Sui blockchain, to launch an on-chain game scheduled for 2024. The partnership arrives despite a ban against all blockchain-related games in South Korea.
It's time for Web3 gaming to up its own game• NHN Corporation, which started as a game company in 1999, says it has more than 37 million registered users on its mobile game titles such as Friends Pop and the social casino game Hangame Poker.
South Korean President Yoon Suk-yeol said last year that he would abolish the play-to-earn ban in his election campaign. But he hasn't followed through on the promise. The P2E game makers have released blockchain-based games abroad, hoping that the local ban will be lifted.
Despite reports of a withdrawal, Sega says it is still exploring Web3 game initiatives.