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Friends Games, a Kakao Games subsidiary, and Way2Bit, a blockchain developer, are merged.
Friends Games held a board of directors meeting on the 27th and announced that it has finally decided to merge with Way2Bit. The company is expected to complete the merger process in early July.
After the merger, the surviving corporation will be Friends Games, with CEO Jung Wook and Song Gye-han as joint representatives. The corporation plans to continuously develop the development and business, which are the basis of each company, and maximize business synergy by converging their respective professional competencies.
A company official said, “With this merger, we will build a platform that distributes the digital value of cultural contents such as games, sound sources, images, and artworks using blockchain-based non-replaceable token (NFT) technology, and further seek to integrate with metaverse. I will do it,” he explained.
On the other hand, Friends Games is a casual game developer that was launched in 2018, and is developing various genres of mobile games such as Kakao Friends’ intellectual property rights (IP)-based game’Friends Town’ and the new work’Project King’ (tentative name). . Immediately after CEO Jung Wook took office in March, the company announced an aggressive business expansion such as Metaverse and NFT beyond the casual game industry.
Way2Bit, which was incorporated as a Kakao Games subsidiary in December last year, is operating a blockchain-based digital content platform’BORA’ (Bora), a blockchain project that is close to real life, and services of movies, videos, and music using metaverse and NFT. It operates a variety of blockchain-based businesses. In addition, it publishes various online game IPs through the global online game service platform’Play to Bit’.
Bora, a cryptocurrency issued by Way2Bit in favor of the merger of the two companies, is trading at 286 won, a 21.19% increase from the previous day from Upbit as of 4:20 pm.