Blockchain Gaming Investment Amid South Korea's Regulatory Hurdles

The global blockchain gaming market reached an estimated $4.6 billion in 2022 according to Allied Market Research and MarketsandMarkets. This growth was driven by developers leveraging blockchain technology to monetize in-game assets, such as skins and avatars, through NFTs and cryptocurrencies, which enable secure ownership and trading. Notably, Niko highlighted a surge in venture capital investments targeting blockchain-based game development, particularly in South Korea.

Major companies like WeMade, Netmarble, and Nexon are spearheading blockchain gaming projects in the country. However, the growth of blockchain gaming faces significant challenges due to strict government regulations. In this Knowledge Brief, we delve into the dynamics shaping the blockchain gaming market in South Korea, supported by our proprietary data.

Niko Knowledge Briefs are timely short-form topic reports written by Niko’s senior analysts using Niko’s proprietary data on Asia and MENA. Based on Niko's proprietary data and insights, we write and publish a new Knowledge Brief every two weeks. These short-form reports empower companies to access Niko's high-integrity data, insights, and research in a bite-sized format.