The RIGO Project officially launched its mainnet on the 4th (Korean time) and successfully created the genesis block (the first record registered on the blockchain), as announced through its official account.The RIGO Project explained, "After releasing the testnet in August and continuing to update,
On Sept. 21, Busan Mayor Park Heong-joon and the Busan Digital Asset Exchange Establishment Promotion Committee held a press conference at Busan City Hall to announce a “Plan for Establishing the Busan Digital Asset Exchange.”The main objective is to create a fourth-generation blockchain-based excha
AiiTONE pushed forward the establishment of the branch in Korea with the UAE Royal Family. It is the first time to build the Royal Family Office in overseas countries.Bruce Jeong, the chairman of Middle Investment said at a press meeting held at Josun Palace Gangnam-gu, Seoul on the afternoon of the
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Kakao Games’ competence as a publisher is to be proven via the continued popularity of new games. Backed by accumulated sales for a wealth of new titles, OP should soon recover. New games to be re
The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. Partnering up with Dunamu and Lambda256, Hanwha I&S has been actively preparing to launch a blockchain business. By utilizing its extensive network, the firm is expected to work with blockchain sta
The Financial Services Commission announced on Jan. 19 that mandatory investment registration certificates applied to foreigners would be repealed and blockchain-based securities token offering (STO) would be permitted.The mandatory certificates were introduced in 1992 so that foreigners register th
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Going forward, we believe that there will be no repeat of the hefty operating losses that Wemade recorded for 2Q22, pointing out that sales of Mir M are to be fully reflected in the firm’s 3Q22 e
KEB Hana Bank announced that it has recently signed a business agreement with The Sandbox, a blockchain-based metaverse platform company, to cooperate in the global metaverse platform business.The bank inked the business agreement to provide banking services in the metaverse and participate as a glo
Securities companies are increasing their investments in blockchain, virtual asset and metaverse startups.For instance, Mirae Asset Securities made a series B investment in bHaptics on Feb. 15. bHaptics connects the tactile sensation to content and sells related products such as vests and warmers.On
Affiliates of Korea's top four business groups are moving to enter virtual currency and blockchain businesses in earnest. In the past, they were only at the level of investing in related companies, but now they are directly brokering virtual asset transactions or promoting blockchain technology
SK Telecom (SKT) aims to enter the global market with ‘Next Big Tech,’ which refers to its three key future technologies, namely metaverse, AI semiconductor and quantum cryptography.The company disclosed its new business plan at a news conference at MWC Barcelona 2022 on Feb. 28 (local time). SKT CE
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Despite tepid earnings in 2021, Netmarble’s share price is primed to rise this year in response to both earnings growth expectations and planned new game releases. The acquisition of SpinX Games
The author is an analyst of KB Securities. He can be reached at joonsop.analyst@kbfg.com. -- Ed. KT and Shinhan Financial Group announce cross-shareholding deal— On Jan 17, KT and Shinhan FG announced a cross-shareholding deal valued at around KRW430.0bn.— KT is acquiring a 2.08% stake in Shinhan FG
Play-to-earn (P2E) games are expected to change the paradigm of the game market, and related startups are attracting increasing investments.The Blockchain Game Alliance said on Jan. 5 that the sales of NFT-based games added up to US$2.32 billion in the third quarter of last year and the number of re
Samsung Electronics is planning to exhibit smart TVs supporting NFT transactions at CES 2022. The Micro LED, Neo QLED and The Frame TVs supporting NFT artwork search as well are scheduled to be released worldwide this year.“The world’s first TV screen-based NFT explorer and marketplace will be exhib
The author is an analyst of KB Securities. He can be reached at drlee@kbfg.com. -- Ed. Increasing investments in P2E games and blockchain gaming platform— Following its showcase of P2E (play-to-earn) game Champions: Ascension, Netmarble has reportedly been pushing for the acquisition of a blockchain
CODE, a company launched jointly by Bithumb, Coinone, and Korbit to develop compliance solutions for the FATF Travel Rule, unveiled its roadmap for solution development at a news conference on Dec. 8.The FATF Travel Rule, officially accepted by the Financial Action Task Force in June 2019, requires
Shinhan Bank announced on Nov. 30 that it has developed and verified stablecoin-based overseas remittance technology for the first time in the Korean financial sector.Stablecoins are cryptocurrencies pegged to a legal tender, such as the U.S. dollar or the Korean won, at the 1:1 ratio. They are a bl
Shinhan Bank is considering investing in virtual assets as it is planning to issue stablecoins next year. To issue stablecoins, which are cryptocurrencies pegged to a fiat currency such as the U.S. dollar, "platform coins" are needed as a basis. Platform coins act as a coin generation tool for creat
Game company Wemade’s stock price jumped more than 15 percent in a day thanks to its announcement that it would absorb Wemade Tree, a blockchain business subsidiary. Wemade's market capitalization topped 5 trillion won, ranking sixth in the KOSDAQ market.Wemade’s stock price closed at 161,000 wo