Former South Korean Social Media Giant in Talks ‘With Major Gaming Companies’...
A former South Korean social media giant is still keeping alive its promise to relaunch its business with the help of the cryptocurrency industry. A local media outlet reported that Cyworld is in talks with “major gaming companies” that involve crypto-related ventures. Company Also Plans to Launch Its Mainnet to Compete With Kakao According to Yonhap, Cyworld is looking to arrange deals with software makers in the gaming industry to adopt in games its Ethereum-based token Dotori (SNS). A representative from the firm said: We are discussing ways to exchange Cyworld tokens, which....
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Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedly planning to buy a 65% stake in troubled crypto exchange Bithumb in a deal worth about 500 billion won ($460 million). ● According to local media reports, Nexon is to buy all the shares owned by Bithumb chairman Lee Jung Hoon, including several others totaling up to 65% of the exchange’s outstanding shares. ● The Tokyo Stock Exchange-listed video gaming giant has since signed a memorandum of understanding (MoU) with the sellers to facilitate the transaction. The MoU was signed at the beginning....
A social media giant that significantly impacted South Korea’s internet influence in the early 2000s is set to take a second breath. The company plans to regain its popularity by launching a new cryptocurrency. New Ownership Reportedly Got Over $7 Million From Investors to Rebrand Cyworld According to Hanguk Kyungjae, Cyworld is paving the ground to relaunch its business under new ownership. The consortium of five domestic companies includes SKY E&M, a local entertainment company. The negotiation wasn’t a million-dollar transaction. In fact, the consortium bought Cyworld from....
Satoshi Citadel has raised seed funding from KVG, which is the venture capital arm of Korean web giant Kakao. According to the Bitcoin company, this is a strategic partnership that could bring its “innovative solutions” to Kakao’s 100 millions users. Kakao is Big in South Korea. Kakao is a household name in South Korea, as this web giant has a mobile app....
At the very beginning of 2022, South Korean tech giant Samsung announced its foray into the metaverse and a new “NFT Aggregation Platform” designed for its smart TVs. In addition to the NFT TVs, Samsung also launched a virtual experience inside of Decentraland, one of the most popular metaverse gaming platforms. It’s high time we had a peek at the South Korean NFT world to see the latest developments. Samsung NFT TV and Presence in Decentraland The idea of the metaverse is no longer the distant, dreamy vision shared only among a limited number of crypto veterans it....
The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets. Government Asks South Korean Crypto Sector for Regulatory Proposals Representatives of the South Korean government and the ruling People Power Party met on Monday to discuss issues related to the crypto space. The consultations were held in the aftermath of last month’s collapse of the terrausd (UST) algorithmic stablecoin....