NFT Video games in South Korea Facing Ban despite Popularity.
South Korea has one of the leading NFT based games in the industry, yet these video games are still banned in the country. MIR4 is a famous play-to-earn game developed by WeMade, a South Korean-based video game studio.
The game ranks in the top ten on Steam with more than 85000 concurrent players. However, the fan base and players of MIR4 in South Korea cannot experience the video game to its fullest.
The local version of the game does not include play-to-earn elements that are available in the international version of the game. The reason behind this is the ban that is in place by the South Korean authorities. The head of Korea’s Game Rating and Administration Committee has reiterated that the ban on NFT video games will continue.
Talking to the media, the chairman of the committee said that the video game laws restrict any game that involves speculation and gambling.
“It is a misconception that the game committee blocks new technology such as blockchain and NFT's,” Kim said. “The game industry promotion act, unlike other laws promoting culture, is established to prevent speculation.” However, the chairman also showed a welcoming attitude for blockchain-based games if they do not contain elements of cashable and tradeable NFT's.
The reason why South Korea is against the speculative elements is because of a 15-year-old incident of the game Sea Story. The game rewarded players with gift certificates but not cash.
However, the game led to cash centers outside arcades where players would turn in their certificates to grab cash. Later on, criminal gangs were involved in the arcade business and many people lost their hard-earned money on the game.
However, experts in the field say, “At a time when the metaverse is becoming a global trend, I think it’s time to put our heads together to reach a social consensus so that play-to-earn game models can settle in a more sophisticated way.”
Play to Earn Gaming News
Looking for the best play-to-earn games? Look no further than our video game review site. Our large collection of P2E games has been looked over and has all the information you need. From genre and game platform to tokens, whitepapers, and Discord and Twitter social media links, we have it all. In addition, we offer game trailers for each game, as well as game videos where we provide in-depth reviews. We pride ourselves on being up-to-date, and offer daily updates on the latest news in the world of video gaming. You'll find everything you need to stay informed about your favorite play-to-earn, blockchain, NFT, crypto, P2E, Web3, or metaverse games.
Check out our Top Games and game lists to discover the best play-to-earn games. And don't forget to read our fresh daily game news to stay up-to-date on the latest developments in the world of gaming. With our video game review site, you'll have everything you need to explore, discover, and enjoy the best P2E games out there. If you have PlayToEarn Game News, please contact us. If you are launching a game, or have PR around a new game, send it and our PlayToEarn Game news writers will cover it.
