|
The South Korean government is taking a firm stance on mobile games involving play-to-earn crypto with an order to Apple and Google. The latest trend in mobile that’s slowly becoming extremely lucrative (at least for the companies publishing them) are mobile titles that involve players being able to earn blockchain and cryptocurrency, as well as cashable NFT content, as people have been making their way to these games to see if they can score big on the markets while everything is booming and popular. However, the country of South Korea is already taking a stance against the content. According to the local website Naver, the country’s gaming regulator has sent out an order to both Google’s Play Store and Apple’s App Store to remove blockchain-based play-to-earn games immediately from their platforms.
To be clear about the situation, the government is not looking to block or inhibit blockchain, NFT’s, or cryptocurrency in their country. They actually have one of the biggest markets for it in the world for each of these and going against it at this point would probably end up being a massive uphill battle. The issue delves more into the fact that these types of games enable players to take their winnings and exchange them for fiat. This is a no-go with South Korean gaming laws, as they have a strict cap on the maximum amount any individual can earn, According to their Game Industry Promotion Act, the most you can win is ₩10K, which translates to about $8.40.
According to the report, it isn’t just Google and Apple the government has chatted with, it’s also smaller app distributors who have been given the same order. We’ll see who complies and who doesn’t, but much like loot boxes before them, this could be a signaling point for other countries to tackle this topic if they view it violates any of their laws as well.
About Gavin Sheehan
Gavin is the current Games Editor for Bleeding Cool. He has been a lifelong geek who can chat with you about comics, television, video games, and even pro wrestling. He can also teach you how to play Star Trek chess, be your Mercy on Overwatch, recommend random cool music, and goes rogue in D&D. He also enjoys hundreds of other geeky things that can’t be covered in a single paragraph. Follow @TheGavinSheehan on Facebook, Twitter, Instagram, and Vero, for random pictures and musings.
Latest by Gavin Sheehan
Level 99 Games decided to end the year by giving a quick preview of several games they currently working on to come out in 2022.
Garena is kicking off 2022 properly in Free Fire as the company has loaded a new update that includes an all-new map called Alpine.
343 Industries has added a brand new set of items to the shop in Halo Infinite as you can get your meme on with these Mister Chief items.
In news that was painfully obvious looking at store shelves over the holidays, the Nintendo Switch will likely have shortages next year.
The South Korean government is taking a firm stance on mobile games involving play-to-earn crypto with an order to Apple and Google.
The Epic Games Store decided to close out their 2021 holiday sale of free games with a bang, giving out the Tomb Raider Trilogy for free.
Latest in Games
Level 99 Games decided to end the year by giving a quick preview of several games they currently working on to come out in 2022.
Garena is kicking off 2022 properly in Free Fire as the company has loaded a new update that includes an all-new map called Alpine.
Raichu V finally arrives in Pokémon TCG’s next Japanese Set, Star Birth. Will this card make it into Sword & Shield – Brilliant Stars?
343 Industries has added a brand new set of items to the shop in Halo Infinite as you can get your meme on with these Mister Chief items.
The missing page of dialogue from the final Harry Potter: Wizards Unite Brilliant Event has been revealed, detailing Constance’s end.
Before there was God Ki, there were Super Saiyans. Dragon Ball Super Card Game shows off new Realm of the Gods with SS Goku & Vegeta.