South Korean publisher Gamevil has acquired a 13 per cent stake in Coinone, the third largest cryptocurrency exchange in the country.
The Korean Herald reported the deal - labelled a strategic investment - cost $28 million.
In a statement, Gamevil commented this was a move to increase interest in blockchain and digital assets such as NFTs and explore new business opportunities.
Gamevil’s best known game IP is the $2 billion mobile RPG Summoners War released through its owned subsidiary Com2uS.
It’s receiving a much anticipated expansion in the form of MMORPG Summoners War: Chronicles which is due for release this summer.
Com2uS is also working on a TV series and comic book releases.
More generally, the South Korean game industry is already active in blockchain.
WeMade announcing a number of blockchain-enabled games, while tech giant Kakao launched its own Klatyn blockchain in 2019.
Other South Korean game developers early to blockchain include Planetarium, which is part of Ubisoft’s Entrepreneurs Lab and recently raised $2.5 million, CryptoDozer and Biscuit.