NFT game development startups and Blockchain gaming startups in South Korea are rising. As the world of non-fungible tokens (NFTs) continues to grow and evolve, so does how they are used. In South Korea, several gaming companies and startups are exploring the potential of using Blockchain technology and NFTs within the gaming industry. For example, NFT games offer many advantages for both developers and gamers. As for developers, they provide a new way to monetize their games and attract new players. For gamers, they offer a unique form of gameplay that allows them to earn rewards as they play.
There is huge potential for Blockchain gaming. Gaming is one of the most popular activities in South Korea, with millions of people playing online games every day. Therefore, the introduction of NFTs and Blockchain could potentially revolutionize the gaming industry in South Korea. Some gaming companies and startups in South Korea are already working on NFT games. Moreover, this trend should continue to grow as Korea Blockchain Week has focused heavily on supporting the Blockchain gaming industry.
Below are some of the hottest Blocking game development startups in South Korea you should be looking out for.
“We are planning to increase the level of development of C2C marketplaces and tournaments that are under development and to reach commercialization soon after going through verification at home and abroad,” said the CEO of SuperTree, Choi Sungwone.
Planetarium is an NFT-based open-source gaming platform, and the startup is known for its Blockchain game development engine Lib Planet. What makes Lib Planet games special is that the games can be played without needing a central server. This allows gamers worldwide to continuously play even if the gaming company goes out of business.
In addition, Lib Planet enables play-to-earn (P2E) type games where users can collect gold in the game and produce and own NFTs. Users can then exchange the NFTs with Planetarium’s coins for real cash. Their most popular game to date is Nine Chronicles.
In addition, Planetarium received over $40 million for its series B round and is now valued at over $300 million.
Klaycity is a P2E virtual world where district NFT owners can govern, explore, and earn while playing the game. They are currently developing the virtual world with Land NFTs to allow users to come from different experiences in the crypto industry. Players can earn $LAY tokens and $ORB tokens by participating in activities such as exploring, scavenging, and leveling. The NFT game is built on the Klaytn Network.
Klaycity raised over $3.7 million for its seed funding round. The round was led by Krust and Animoca Brands, Naver Z, AT&T Capital, and Genesis Block Ventures, just to name a few.
Monoverse is another Blockchain gaming startup in Korea focused on NFT gaming. They have gotten funding from a Korean gaming company called Neowiz, and more partnerships with gaming companies are expected to follow. Their top play-to-earn NFT game is Frutti Dino. The Frutti Dino community has over 100,000 users from all around the world. However, Monoverse is currently developing a platform that allows any game developer studio to migrate their games to a sidechain called Entropy easily. Entropy unlocks decentralization benefits to traditional gaming projects by removing their need to create their sidechain.
Monoverse will use Entropy to onboard third-party games that are both NFT-based and traditional onto its sidechain. Entropy offers low gas fees and high transaction processing speed, offering developers advantages over Ethereum.
ISKRA is a P2E Blockchain gaming platform developer. They are currently developing a game platform built around a community that drives participation from game users, developers, and investors. All the while sharing profits with participants. They are expected to launch Blockchain games toward the end of 2022 and sell NFTs. They made headlines in 2022 for raising $34 million for their seed round, which included NHN, Kakao Ventures, and Fast Ventures, just to name a few.
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