Apple, Google Asked by South Korea to Remove Crypto-Based Play-to-Earn Games From App Stores

The South Korean government has moved to halt the release of new play-to-earn (P2E) games and requested Google and Apple to remove existing games from their respective app stores. P2E games have recently tasted a great deal of popularity as crypto adoption has improved over the past year, allowing players to win exchangeable tokens, which they can auction off at a higher price to earn money. In P2E games, users typically have to purchase game pieces in the form of non-exchangeable tokens (NFTs) to play the game and receive their own in-game rewards. However, prizes above KRW 10,000 (approximately Rs 625) are prohibited in South Korea.

The Games Management Committee (GMC), which is a regulatory arm of the South Korean Ministry of Culture, Sports and Tourism, has now asked major mobile app markets to block any games that made in-app purchases prior to playing the game. is required. To counter the proliferation of speculative money-making schemes, GMC has made it practically impossible for P2E game developers to list their work on the most popular mobile app stores.

While the South Korean government’s attempt to curtail the development of P2E games by going directly to the app market is a recent development, game developers in South Korea are facing a court battle from before April to allow their P2E games to become domestic apps. to put up for sale. Stores. The main problem is that some game apps don’t get the required age rating to register on the App Store.

A GMC official said the commission was following the Supreme Court’s precedent in blocking P2E games such as axi infinity By being age-rated and registered. “Under current law it makes sense to prevent P2E games from being age-rated because a cash prize in sports can be considered a prize,” the official said in a statement. Cointelegraph, Currently, the rewards obtained from playing the game in South Korea cannot exceed KRW 10,000 at a time.

Five stars for Klaytn The P2E game and NFT Marketplace were initially blocked on the domestic App Store due to lack of ratings, but the team behind the game won a court order last June and the game could be listed. The final decision on the legal status of the game is expected to set a legal precedent for other P2E games, such as Infinite Breakthrough Three Kings Rivers.

GMC’s stance has negative implications for all P2E gaming apps, including a suite of two of the most popular game-related apps to date – Axie Infinity and Splinterlands, according to DappRadar.

As crypto market development, countries will likely increase efforts to regulate the space and while increased control may be seen by enthusiastic crypto backers as a significant negative catalyst, experts argue that it is a necessary component to widespread crypto adoption. .

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain of class, Gadgets 360 Podcast. available on orbital Apple Podcasts, google podcasts, Spotify, amazon music And wherever you get your podcasts.