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These countries may have the potential to be the major hubs that will lead the development of the blockchain gaming industry by providing a regulatory-friendly environment.
Countries That Will Lead the Development of the Blockchain Gaming Industry
The Seoul Digital Foundation, a digital arm of the Seoul city government, has announced the expansion of its Seoul Metaverse platform with "The Metaverse Seoul Pet," a virtual pet adoption service area.
Seoul Metaverse Expands with Virtual Pet Adoption Service
South Korea has announced a $51 million investment into metaverse projects to develop its digital economy further.
South Korea invests $51 Million into Metaverse Projects
Around 45 million South Korean citizens will adopt a decentralized, blockchain-based identity system by 2024.
South Korean Government to Issue Digital IDs Powered by Blockchain in 2024
According to South Korea's MSIT, regulating the metaverse as a video game may not bode well for the industry's growth in the long term. As such, it will only make sense to regulate this ecosystem with new laws.
South Korean Ministry Considers Enacting Special Metaverse Laws to Foster Web3 Innovations
While Seoul is busy building its own metaverse, its satellite city Seongnam is looking to enter Web3 as well.
South Korea’s Seongnam City Reveals Plans to Issue NFT Citizenship
Apparently, the newly enacted bill will help speed up the metaverse development in South Korea. Let's dive in!
South Korean Government is Now Working on a Metaverse Industry Promotion Act
Amid a civil complaint on WeMade's WEMIX token, South Korea's Financial Services Commission is now assessing whether P2E tokens should be considered security assets.
South Korea's Financial Watchdog Probes Into the Securities Nature of P2E Tokens
Henry Chang, CEO of South Korean video game developer Wemade, said South Korea's new administration under President Yoon Suk-yeol will likely end its ban on blockchain and play-to-earn gaming in 2023.
Wemade CEO Henry Chang expects South Korea to lift ‘absurd’ ban on P2E next year
South Korean telecommunications giant SK Telecom has established a partnership with Morph Interactive to build its Ifland metaverse platform.
South Korean Company SK Telecom Expands Ifland Metaverse
From STEPN facing a DDOS attack to countries investing millions in the metaverse, here's a recap of everything that happened in the play to earn gaming scene this past week!
PlayToEarn Weekly News #5 - NFT game on Epic Games Store?
South Korea strengthens its interest in emerging technology as it sets out to invest in the Metaverse in a bid to expand its economy.
South Korea is set to Invest $177.1 Million In the Metaverse