Nexters is set to acquire the domestic app market OneStore. The company aims to combine its Web3 and artificial intelligence (AI) technologies to expand OneStore into a "global Web3 and AI-native gaming platform." This acquisition is expected to bring to fruition Nexters' vision for a blockchain gaming platform, which CEO Jang Hyun-guk has emphasized since his time at Wemade.
According to reports from the IT and gaming sectors on June 19, Nexters held a board meeting the previous day and decided to purchase 20,247,990 shares of OneStore, representing an 89.03% stake, for approximately 626 billion won (about $626 million). SK Square, Naver, and Krafton will continue their collaboration by participating as strategic investors after selling their stakes in OneStore.
Nexters is reportedly acquiring OneStore to expand the distribution channels for its self-built blockchain gaming platform. Since last year, the company has been developing its own mainnet, wallet, community platform, web shop, and a payment system based on stablecoins.
In a YouTube broadcast on June 18, CEO Jang emphasized the need for a large user base and distribution infrastructure for these features to function effectively in the market. While Nexters has built backend services such as mainnet, wallet, and reward systems, the absence of a "store" function for users remained a challenge. Securing OneStore, which has over 38 million installations in South Korea, is expected to accelerate the expansion of Nexters' blockchain ecosystem.
Nexters plans to utilize OneStore differently in domestic and international markets. Domestically, it will serve as a full-stack gaming hub for Web2 games, while in the global market, it will focus on a Web3 game store. The company intends to integrate Web3 features such as wallets, stablecoins, decentralized exchanges (DEX), staking, and bridges into the global version of OneStore, connecting gaming distribution, payment, and transaction functionalities.
The company believes that as AI enhances the production of gaming content, its ability to analyze and recommend games tailored to users will become a key competitive advantage. It aims to support developers with features necessary for game operations, including web shops, payment systems, marketing, and rewards, all within OneStore, creating a structure that allows developers to manage their entire game services.
To facilitate this, Nexters will first integrate the identities of its platform, Cross, and OneStore. The name of the mainnet for the on-chain gaming platform will change from "Cross" to "ONEchain," and the native token will be renamed "ONE."
CEO Jang stated, "In the domestic market, where regulations have stifled the Web3 ecosystem, we will implement a backend-focused 'Web2 full-stack gaming hub' strategy, while in international markets, we will build a 'Web3 game store' featuring wallets, DEX, and the ONE token ecosystem." He confirmed that existing partnerships in the distribution of games, apps, webtoons, and web novels, as well as with telecommunications companies, will be maintained.
A Nexters representative noted, "Discussions are ongoing regarding the branding integration phase following the acquisition announcement, and we are clarifying the business direction, including the potential integration of Cross and OneStore."
* This article has been translated by AI.
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