A Korean blockchain game company has launched a native NFT marketplace for Korea’s multi-billion dollar game sector.
Korean Blockchain gaming company PlayDapp has launched a marketplace for non-fungible tokens (NFTs), offering Korea’s multi-billion gaming industry a native gateway into digital assets.
Announced on June 8, the new platform, ‘PlayDapp MarketPLAce,’ advertises itself as providing free support for coin-to-coin trading between NFT-based in-game items.
Koh Kwang-Wook, a founding member and former CTO of Item Bay, an early online brokerage platform for in-game items, led the development of PlayDapp’s marketplace.
Korean NFT marketplace targets gaming industry
Over the past 24 hours, the games have attracted 201 users and 30 users respectively.
CryptoDozer has generated $610 worth of trade over 2,132 weekly transactions, while DozerBird represented less than $12 in volume over 277 transactions.
Korea’s game industry is the fourth-largest globally, representing 14.3 million KRW ($12.1 billion) in 2018. Korea’s gaming sector has grown at an average annual rate of more than seven percent over the past decade.
NFT marketplaces proliferate
In March, the Winklevoss-owned platform Nifty became the first U.S.-dollar-based exchange for NFT trade. Despite Nifty announcing it would be taking a “slow and intentional” strategy regarding support for tokens, a surprise run of limited edition CryptoKitties saw the platform experience outages last month.
May also saw the launch of Tokyo-based startup Yiedl, a peer-to-peer marketplace for NFT rentals and mortgages.