Nexxus to Buy One Store for $45.3 Million, Expand It Into Global Web3 Gaming Hub

Nexxus, the operator of blockchain-based Web3 gaming platform CROSS Protocol, said on June 18 that it will acquire app marketplace One Store.

The company's board approved the purchase of 20,247,990 One Store shares, representing an 89.03% stake, for about $45.3 million. Sellers include SK Square, Naver, Steel Number One First and Krafton.

As part of the deal, SK Square, Naver and Krafton will also join Nexxus as strategic investors. Nexxus plans to expand its gaming platform business while maintaining One Store's existing business base and partnerships.

The company aims to develop One Store into a gaming-focused platform. It plans to integrate its game infrastructure into the platform, including a web shop, payments, community features, a quest platform, a streamer platform and a rewards system.

Nexxus also plans to expand One Store's global version into what it calls the world's first Web3 game store. Its goal is to build a single platform that supports blockchain functions including wallets, stablecoins, decentralized exchanges, staking and bridges, allowing games from multiple chains to be offered in one place.

The company also plans to rename its mainnet, CROSS, to OneChain, and its native token, CROSS, to ONE. It said the change will create an integrated brand system linked to One Store for domestic and overseas operations.

Chief Executive Officer Jang Hyun-guk said Nexxus will offer players a more enjoyable experience and provide game developers with stronger solutions. He added that the company will press ahead with its vision of becoming the world's top gaming platform amid a paradigm shift driven by AI and blockchain.