Nexters is set to acquire One Store, a domestic app market, with plans to integrate its gaming platform, blockchain, and AI technologies to transform One Store into a global Web3 and AI-native gaming platform.
On June 18, Nexters announced during a board meeting that it will purchase 20,247,990 shares of One Store, representing an 89.03% stake, for approximately 626 billion won. The sellers include SK Square (45.78%), Naver (24.06%), Steel Number One First (17.02%), and Krafton (2.17%).
One Store was established in 2016 by South Korea's three major telecom companies—SK Telecom, KT, and LG Uplus—along with Naver.
The acquisition is expected to be finalized on June 29, after which Nexters will hold an 89.03% stake in One Store. Nexters stated that the purpose of the acquisition is to create synergies between core businesses and secure future growth drivers through control of management rights.
As part of the acquisition process, SK Square, Naver, and Krafton will participate as strategic investors in Nexters. They will sell their stakes in One Store while also acquiring new shares and corporate bonds from Nexters.
Nexters plans to grow One Store's established business with a new vision and strategy.
Initially, it will rebrand One Store, which has over 38 million installations in the domestic market, into a 'game hub.' This will involve integrating Nexters' operations into One Store. Nexters has been developing a full-stack gaming platform that includes web shops, payment systems, community features, quest platforms, streamer platforms, and reward systems. It aims to provide game developers with a one-stop LiveOps solution that encompasses user acquisition, community management, game economy management, and growth.
Nexters envisions One Store as the world's first 'Web3 game store.' By leveraging its blockchain expertise, Nexters aims to expand the game hub strategy globally, focusing on integrating games, chains, and markets into a unified global platform.
The company believes that unlike existing app markets with regulatory constraints, it can support Web3-native experiences to enter international markets. Consequently, Nexters plans to incorporate all Web3 functionalities into One Store, including wallets, stablecoins, decentralized exchanges (DEX), staking, and bridges. Its goal is to establish One Store as a single global build platform for Web3 games, driving growth in the entire Web3 gaming industry and leading the future gaming market.
Additionally, Nexters intends to evolve One Store into an 'AI-native game platform' that responds to the next generation of content creation. The strategy involves real-time analysis and curation of vast amounts of games created by humans and AI to connect users. As content production surges, the current review processes may become unmanageable, making the AI-native approach essential.
Nexters will also pursue brand unification. The mainnet of the on-chain gaming platform, CROSS, will be renamed OneChain, and the native token CROSS will be rebranded as ONE. This aims to establish a unified brand identity that connects One Store and ONE, consolidating domestic and international operations under a single identity.
Even after the acquisition, One Store will maintain its existing business structure and partnerships. The content distribution lines for games, apps, webtoons, and web novels will continue to operate stably, and existing collaborations with telecom companies and key partners will persist, focusing on enhancing One Store's core business competitiveness.
Jang Hyun-guk, CEO of Nexters, stated, "We will provide players with a more enjoyable experience and game developers with stronger solutions. We are committed to striving vigorously until we achieve our vision of becoming the world's leading gaming platform, driven by the paradigm shift brought about by AI and blockchain technologies."
* This article has been translated by AI.
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