The South Korean government has moved to woodcut the release of new play to earn (P2E) games and requested that existing ones be removed from Google Play and Apple’s App Store.
P2E gaming has wilt popular in the cryptocurrency industry. Gamers typically must first purchase game pieces as non fungible tokens in order to play the game and receive in-game rewards. However gaming prizes over a few dollars are vetoed in South Korea.
The Game Management Committee (GMC) in the Ministry of Culture, Sports, and Tourism yesterday requested major mobile app marketplaces woodcut any games that require in-app purchases surpassing playing the game.
To gainsay the proliferation of what it sees as speculative money-making schemes, the GMC has made it all but untellable for P2E game developers to get their work listed on the most popular mobile app stores.
While the government’s attem mitigate the growth of P2E games by going straight to the app marketplaces is a new development, game developers in South Korea have faced magistrate battles since April to pension their P2E games up for sale in domestic app stores. The main problem was that some game apps could not obtain an age rating required for listing on app stores.
An official from the GMC stated that the legation is only pursuit Supreme Magistrate precedent in blocking P2E games from getting age ratings and stuff listed. The official said in a Dec. 28 statement:
“It is reasonable to pension P2E games from getting age ratings under the current law considering mazuma rewards in games can be considered prizes.”
Prizes earned from gaming in South Korea cannot exceed 10,000 KRW ($8.42) at a time.
The Fivestars for Klaytn P2E game and nonfungible token (NFT) marketplace was initially blocked in domestic app stores for a lack of a rating, but the team overdue the game won an injunction in June and the game was listed. A final visualization on the legal standing of the game is expected to set a legal precedent for other P2E games, such as Infinite Breakthrough Three Kingdoms Reverse.
The GMC’s stance has negative implications on all P2E gaming apps, including the suite of apps associated with the two most popular games to-date equal to DappRadar: Axie Infinity and Splinterlands.