South Korea’s Gamevil Acquires Blockchain Tech Company

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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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