State of Korean Web3 Gaming Ecosystem Report 2023
This comprehensive report offers an in-depth overview of South Korea's dynamic Web3 gaming landscape based on meticulous primary research. Its objective is to provide a panoramic view of which gaming publishers and developers are dabbling in Web3 and what type of on-chain elements are being implemented in the games.
The Gaming Ecosystem in Korea
As the fourth largest gaming market in the world, South Korea has an abundant community of large to small gaming developers and publishers that have demonstrated keen interest in experimenting with blockchain.
Publicly Traded Game Companies
All top ten public gaming companies have either invested, announced a partnership or developed a blockchain-based metaverse/game. In this section, you will find case studies of Netmarble launching MARBLE X, Wemade's platform-centric WEMIX 3.0 ecosystem, Com2uS' XPLA, Neowiz's Intella X and more.
Long-Tail Gaming Studios
From a fully decentralized gaming ecosystem to a steam-like gaming hub, medium to small-sized gaming companies are actively developing and publishing projects with various types of on-chain elements. By exploring the games launched by these startup studios, we will notice how their endeavours are differentiated from the larger corporations. Planetarium Lab's Nine Chronicles and Iskra building on Base mainnet are a few of the companies mentioned in this section.
Gaming Network Stack
Although most Korean Web3 games utilize blockchain for tokenizing in-game assets but maintain game state and logic off-chain, this section explains which Layer-1 and Layer-2 networks are being chosen by Korean gaming developers.
This report is designed to serve as an invaluable resource for industry stakeholders, investors, players interested in exploring new web3 games, and anyone in the general public curious about getting a comprehensive download of the current state of the Korean Web3 gaming ecosystem.
December 18, 2023
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