Blockchain Gaming Sees Growth in Korea Despite Regulatory Obstacles

The global blockchain gaming market will reach approximately $4.6 billion by 2022 according to Allied Market Research and MarketsandMarkets. This growth is driven by developers leveraging blockchain technology to monetize in-game assets, such as skins and avatars, through NFTs and cryptocurrencies, enabling secure ownership and trading. In particular, Niko highlighted the surge in venture capital investment targeting blockchain-based game development, particularly in South Korea.

Big companies like WeMade, Netmarble, and Nexon are pioneering blockchain gaming projects in the country. However, the growth of blockchain gaming faces significant challenges due to strict government regulations. In this Knowledge Brief, we examine the dynamics shaping the blockchain gaming market in South Korea, supported by our proprietary data.

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