As Netmarble revealed its plan to enter the Block Chain Technology field, speculation has been raised that it might lead to a cryptocurrency such as ‘Netmarble Coin.’ Netmarble Games revealed on the 11th that it plans to submit a proposal to add new business purposes to the 7th Annual Shareholders’ meeting this coming Friday the 30th.
The newly added business areas include research and development on Block Chain technologies, Artificial Intelligence (AI), and Virtual Reality (VR). In addition, the company will advance into the business of production, distribution, sales, copyright purchases, and distribution of entertainments such as music, movies, and animations.
According to an officialat Netmarble, the main purpose of this agenda is to open a wide range of possibilities to diversify the business. Also, so far, no definite details have been made on the Block Chain project, and more detailed directions and fields of the new business will be announced later, the official added.
Netmarble’s New Block Chain business expansion plan was already mentioned last February by Bang Jun-Hyuk, the chairman of Netmable Games board of directors.
He also mentioned a new AI center as well as intelligent game developments; a Bangtan Boys (BTS) related game called ‘BTS World’ that will be released within the first half of this year; thus planning a convergence among disparate cultures such as K-pop
It also predicted that Block-Chain and Cryptocurrency could play an important role in driving new developments in various areas, including the gaming industry. In fact, this is not the first time the gaming industry has attempted to enter the block-chain business.
Cryptocurrency has long drawn the user’s attention in that it is successful in replacing the item money in games as well as making item transactions transparent. The case scenario in the industry will be to apply a system that applies Cryptocurrency to games being serviced by Netmarble Games.
Through the Initial Coin Offering (ICO) the company wants to allow the exchange of item money for Cryptocurrency. Gaming companies are making similar decisions;Hanbit Soft plans to substitute game money with Cryptocurrency through its ICO.
“The connection between games and Cryptocurrency is huge,” said chairman Bang, hinting at the possibility of ICO being established through overseas subsidiaries. He also predicted by saying that, “Instead of collecting investors through an unsubstantial coin, profits and rights should be shared in a way that connects intangible assets and Cryptocurrencies.”
However, it is unlikely to see the replacement of ICO and Cryptocurrency in the Korean Market due to strict government regulations as well as an unfavorable public sentiment. Instead, it appears that gaming industries are likely to engage in a variety of projects in overseas markets using Cryptocurrency and Block-Chains.