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Play-to-Earn Gaming is Over in South Korea -Breaking

by Mike Robinson

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South Korea is done with play-to-earn gaming

As the gaming industry sets foot in Web 3.0, South Korea isn’t convinced about the profits users can make from in-game prizes.

South Korean officials asked Google (NASDAQ;) and Apple (NASDAQ;) to take play-to earn (P2E), games from Google Play or the App Store, while banning new releases.

Users can purchase NFTs with P2E to be able to participate in the game and win prizes.

Some countries restrict the amount of prizes that a player can win from gaming. The price of a prize cannot exceed 10,000 Korean won ($8.42 in South Korea).

Because of the growing popularity and acceptance of P2E gaming, South Korean officials were bound to push for more restrictions. Even after facing court battles with game developers since April, the government’s solution was to reject age ratings of these games, so they couldn’t be listed in App stores.

The GMC (Game Management Committee), South Korea’s Ministry of Culture, Sports and Tourism, asked tech companies to stop any in-game purchases on the 28th of Dezember.

The Flipside

  • This restriction might encourage developers of blockchain to develop alternatives to P2E.

Why you should care

It’s the first time that the government has directly affected the marketplace of Google and Apple.

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