South Korean publisher Gamevil has acquired digital asset platform operator Zenaad for an undisclosed amount.
As reported by Pulse, Gamevil plans to build an NFT exchange and develop blockchain-based play-to-earn games.
The acquisition will see Zenaad’s blockchain expertise and its digital advertising service integrated into Gamevil’s mobile games social platform Hive.
Additionally, Hive will transition into an open platform that will support game development and facilitate NFT trading.
Making more moves
Gamevil first stepped into the blockchain space last year with a $28 million investment into cryptocurrency exchange platform Coinone, making it the second-largest shareholder.
Through a collaboration with its subsidiary, Gamevil Com2us platform, Gamevil plans to open an NFT exchange that will enable users to trade NFT-based assets, such as Korean pop artists’ songs and music videos.
The firm has scheduled the opening of the NFT exchange for March 2022.
Additionally, Gamevil plans to release a range of new blockchain-based games starting next year, alongside integration within its current portfolio.
Last week, Gamevil revealed a partnership with Terraform Labs to build a blockchain ecosystem within its flagship title, Summoners War: Chronicles.