Investment in Blockchain-based Games Growing
Blockchain incubators are becoming increasingly interested in game companies. With games based on blockchain platforms such as Ethereum and EOS appearing one after another, South Korean game companies are focusing on blockchain technology and working on related games as well.
For example, Hashed, one of the largest blockchain funds in South Korea, is currently attracting game companies with its Hashed Labs program for startups working on blockchain-based DApps. Hashed held a presentation session for game companies on Feb. 21.
Dunamu, which runs the cryptocurrency exchange Upbit, is accelerating its investment in blockchain game developers via its investment firm Dunamu & Partners. The investment firm has announced a plan to invest 10 billion won in blockchain games with Neptune and the investment has gone to Node Brick, NABU Studio, WAY2BIT and other companies.
This trend is worldwide. For instance, TRON, one of the top 10 global blockchain projects in terms of cryptocurrency market cap, has launched the TRON Arcade as a blockchain game fund of US$100 million to invest in game companies.
TRON Foundation director Loy Liu visited South Korea in January this year to attend Korea Blockchain Game Show 2019. “The ecosystem of the game industry is very similar to the blockchain-based token economy and game money and cryptocurrency have a lot of things in common,” the director said at that time, adding, “Especially, South Korean game developers are highly specialized in free-to-play and, as such, they are expected to come up with a number of killer blockchain games.”