Despite Ban In South Korea, NFT-Based Game Gains Popularity Across The Globe

Despite Ban In South Korea, NFT-Based Game Gains Popularity Across The Globe

Press Release 08 Aug 2023 958 Views

The South Korean-based company Wemade developed role-playing games that gathered a lot of players from all over the world. The firm focuses on games that enable users to earn by playing. The popular release, The Legend of Mir grabbed millions of players globally. Even the latest instalment of the game, Mir4 has crossed 6 million players worldwide in more than 165 countries.

Mir 4 is an online multiplayer game, developed by WeMade developers. Its Massively Multiplayer Online Role-Playing Game (MMORPG) nature enables players to trade in-game. Since its release in November 2021, the game was trending on the app stores such as the Galaxy Store for quite some time.

In the launch of the global edition, the game picked hype from all over the world. The NFT-based game Mir4 provided a web3 platform for the players to incorporate new ways to earn by playing. The players can trade between cryptocurrencies and Non-fungible tokens. The latest business model in the gaming industry has evolved the way of contribution. The financial benefits are greatly improvised by this edition of the game.

Coming back to the game, Mir4 was released in more than 12 languages and also involves the in-game chat translation feature that enables players to interact effectively in-game. However, the trade of cryptocurrencies and tokens is banned in the birthplace of Mir4 South Korea. Players cannot exchange in-game goods and convert their modified characters into Non-Fungible Tokens.

The reason behind the ban lies in the rules of the Korean Game Rating and Administration Committee that don’t allow blockchain gaming locally. According to the committee, the trade of in-game goods with cryptocurrencies can encourage speculative patterns in the players. The game developers state to consider individual assessments of games rather than imposing bans on all blockchain-based titles.

Despite the restrictions, the game greatly influenced the global market. In Singapore, Mir4 made strategic investments in the GameFi platform, Froyo Games. This Singaporean platform provides a web3 network with an effective Binance trading service based on Ethereum and Smart Chain-based token Froyo.

Talking about tokens, the WeMade games also incorporate a universal token called ‘Wemix’, which can be utilized across different games on the platform.