The Korean government asked Apple and Google to remove P2E games from the store, Axie Infinity is also on the “black list”
- Tram Ho
Recently, the Korean government issued a decree banning the release of new play-to-earn (P2E) games, and asked developers to remove existing P2E games from Google Play and Apple’s App Store.
In recent months, the play-for-profit model has become the prevailing trend of the cryptocurrency industry. Gamers invest a small amount in the form of NFT to be able to participate in the game, in return will receive real-value in-game rewards.
However, the country of Korea prohibits such a form of cash reward for gaming activities. GMC announced: ” With the current law, it is reasonable to prevent P2E games from being classified by age, because cash rewards in the game can be considered as prizes “.
According to Korean law, the prize earned from gaming activities cannot exceed 10,000 won, equivalent to 8.42 USD with each award.
The Game Administration Committee (GMC) under the Ministry of Culture, Sports and Tourism of Korea requires major mobile application distribution platforms to block all games that require players to recharge before participating in the game. . This action of GMC is to prevent the monetization model that is inconsistent with local laws, P2E game publishers have been unable to sell products on major app stores.
Although the request to remove this app is new, game developers in South Korea have been in court since April to retain the rights to release P2E games in the domestic market. Some games cannot be released because they do not meet the requirements related to player age.
But things may turn around, when the P2E game Fivestars for Klaytn and the NFT market of the new game won the court and was allowed to be released. It is predicted that Fivestars for Klaytn will become a precedent allowing later P2E games to claim benefits.
David Shin, one of the many Klaytn Foundation executives, told Cointelegraph why legislators don’t like P2E games:
“ Overall, play-to-earn games and cryptocurrencies are both apprehensive because of the turbidity of the market surface, which is fueled by speculation. But once these scums are gone, global rulers will be able to adopt Web 3.0 as a fixture of the digital economy .”
At the moment, GMC has not changed its mind about all applications of the P2E model, including hit games with established names like Axie Infinity.
Source : Genk