South Korea to lift ban on P2E games

Henry Chang, CEO of video game developer Wemade, expects South Korea to lift its «absurd» ban on P2E next year.

«The new South Korean government under President Yun Suk-yeol is likely to lift the ban on play-to-earn blockchain games in 2023. The new government came in just a hundred days ago and is considering changes to the law to allow blockchain gaming in Korea,» — chang said.

According to the Wemade director, the negative perception of many South Koreans about video games played a role in the P2E ban. «As game developers, we have to do our best to correct misunderstandings and improve the bad image,» Chang explained, «We are trying to illustrate our social responsibility to organizations in Korea and other countries.»

«Wemade is also preparing to launch its own blockchain network, WEMIX 3.0. This will happen no earlier than next month,» Chang said at the company’s press conference in early August.

It should be noted that South Korea’s Game Evaluation and Administration Committee currently does not allow the release of any blockchain-based games, citing concerns that they encourage malicious actors to engage in cryptocurrency speculation.