Apple and Google urged South Korea to remove crypto-based Play-to-Earn games from app stores


The South Korean government has decided to block the release of new play-to-earn (P2E) games and has asked Google and Apple to remove existing games from their respective app stores. P2E games have seen great popularity recently, as crypto adoption has improved over the past year, allowing players to earn exchangeable tokens that they can auction for a higher price to earn. money. Users of P2E games generally must first purchase game coins in the form of non-exchangeable tokens (NFTs) in order to play the game and receive their own in-game rewards. However, rewards worth more than KRW 10,000 (around Rs.625) are banned in South Korea.

The Game Management Committee (GMC), which is a regulatory body of South Korea’s Ministry of Culture, Sports and Tourism, has now called on major mobile app markets to block all games that require in-app purchases before they are released. play the game. To combat the proliferation of what it sees as lucrative speculative schemes, the GMC has made it virtually impossible for P2E game developers to list their work on the most popular mobile app stores.

While the South Korean government’s attempt to curb the growth of P2E games by going straight to the app market is a recent development, game developers in South Korea have faced legal battles dating back to April to keep their P2E games for sale on the national application. stores. The main problem is that some gaming apps cannot achieve the age requirement to register on the App Store.

A GMC official said the commission was simply following the Supreme Court precedent in preventing P2E games like Axie Infinity from being age-categorized and registered. “It makes sense to prevent P2E games from being age-rated under current law, as in-game cash prizes can be considered a reward,” the official said in a statement. through Co-telegraph. Currently, the prizes obtained by playing games in South Korea cannot exceed 10,000 KRW at a time.

The five stars for Klaytn The P2E game and the NFT Marketplace were initially blocked on domestic app stores due to a lack of reviews, but the team behind the game won a court order last June and the game was able to be listed. The final decision on the game’s legal status is expected to set a legal precedent for other P2E games, such as Infinite Breakthrough Three Kingdoms Reverse.

GMC’s position has negative implications for all P2E gaming applications, including a suite of apps related to the two most popular games to date according to DappRadar – Axie Infinity and Splinterlands.

As crypto markets develop, countries are likely to increase their efforts to regulate the space and while the increased scrutiny can be seen as a significant negative catalyst by strong crypto supporters, experts argue that it this is the necessary ingredient for wider adoption of crypto.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple podcasts, Google podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Comments are closed.