[Press Release] Gamevil takes over digital asset platform operator Zenaad as it readies NFT features next yr

Gamevil Inc. has acquired digital asset platform operator Zenaad as it readies to roll out blockchain-based game features from next year.

The Korean video game developer, best known for massively multiplayer online role-playing game (MMOPRG) Zenonia, has reorganized its game development team to include Zenaad’s game developers, Gamevil announced Wednesday without disclosing financial and other terms of its acquisition.

Gamevil shares jumped 24 percent to close at 150,700 won ($127).

Gamevil plans to build a non-fungible token (NFT) exchange and develop blockchain-based play-to-earn games, which allows a player to earn cryptocurrency while playing a video game, from the first quarter of next year.

The company will incorporate Zenaad’s expertise in blockchain technology-based exchange operation and digital advertising service into its game platform “Hive,” which is transitioning to become an open platform.

The game developer is aiming to build a blockchain-based gaming ecosystem via Hive, which would support game development and facilitate NFT trading.

NFT exchange will also be established via collaboration with subsidiary Gamevil Com2us Platform Inc. The company aims to open the exchange by March next year, enabling users to trade NFT-based assets such as Korean pop artists’ songs and music videos.

New blockchain-based games will also be released from the first quarter, ranging from collectible role-playing game Chromatic Soul: AFK Raid to Summoners War: Chronicle.

Gamevil is the second-largest shareholder of Coinone Inc., operator of a major digital coin exchange in Korea.

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