Summary
- Recently, the stock prices of game companies with blockchain technology have surged significantly.
- The Lee Jae-myung administration’s expectation to foster the virtual asset market, as well as policies like the introduction of a KRW stablecoin, have positively influenced the share prices of related companies.
- Experts noted that the actual enactment and specifics of laws and regulations will be crucial variables for future business performance improvements.
NHN and Nexsus also rising together
Anticipation for Virtual Asset Development by the Lee Jae-myung Administration
Shares of gaming companies possessing blockchain technology are on the rise. Expectations that the Lee Jae-myung administration will foster the virtual asset market fueled hopes that the blockchain industry would also benefit.
On the 11th in the KOSDAQ market, Com2uS Holdings closed up 7.47% at ₩35,250. This company, which operates its own blockchain mainnet, XPLA, recorded a 67.46% gain over the last five trading days. A blockchain mainnet refers to a network system that supports cryptocurrency transactions.
Nexsus, which operates the blockchain mainnet Kross, rose 5.97% that day. Over the last five trading days, its increase reached 42.28%. During the same period, Me2On—the operator of the MeVerse mainnet—climbed 35.06%, and NHN, which offers blockchain-based games, rose 29.67%.
Investors are hopeful for government policies friendly toward virtual assets. President Lee Jae-myung, during his candidacy, pledged initiatives to vitalize the virtual asset industry such as introducing a KRW stablecoin and conditionally allowing domestic initial coin offerings (ICOs). On the 10th, the ruling Democratic Party of Korea submitted a bill permitting the issuance of a KRW stablecoin.
A blockchain industry official said, "To trade virtual assets including stablecoins, a blockchain mainnet serving as trading infrastructure is essential," adding, "If an actual law is established, companies with proprietary blockchain technology will see the value of their business models highly evaluated." They continued, "So far, there is no company generating meaningful profits solely from the blockchain network," noting, "The key will be how specific the new regulations are and whether they can realistically improve earnings."
Reporter Han Hyungyul always@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
