Netmarble, the renowned South Korean video games giant, has achieved a remarkable breakthrough in the world of blockchain gaming. Its subsidiary, MarbleX, is set to make history as its coin, MarbleX’s MBX, gets listed on the prominent Japanese crypto exchange, Zaif, on October 11th. This event marks the first time that a South Korean gaming firm’s token has been listed in Japan. South Korean companies have faced numerous challenges in the crypto and blockchain game development sphere due to stringent regulations in their domestic market, making this achievement even more significant.
Securing a place on Japanese exchanges has traditionally been a daunting task. These platforms closely evaluate projects before adding them to a shared whitelist, and the final decision rests with Japan’s Financial Services Agency, the country’s top financial regulator. However, in recent months, the regulatory landscape has witnessed some positive changes. Inspired by Prime Minister Fumio Kishida’s pro-Web3 stance, crypto exchange regulators have started relaxing token listing policies. In July, MarbleX made history by becoming the first South Korean blockchain game project listed on the Japanese whitelist. Nevertheless, it took nearly four months for an exchange to take the leap and officially list the MBX coin.
Exciting Pre-Listing Offers
Zaif, the platform responsible for listing MBX, has already announced an enticing pre-listing event. As part of this event, MBX buyers are eligible for a 10% discount on pre-listing coin orders placed between October 6th and October 10th. Zaif has set the minimum order quantity for MBX at approximately $67, while the maximum order cap stands at around $3,358. These incentives make the upcoming listing even more appealing to potential investors.
The news of MBX’s listing comes at a time when South Korean gaming companies are eyeing Japan, which is often referred to as the “crypto El Dorado.” While South Korean authorities are discussing strengthening regulations, Japan is actively seeking to deregulate its cryptocurrency sector. South Korea has maintained a ban on initial coin offerings (ICOs), refusing to lift it despite promises of a review and calls from the nation’s central bank to end the prohibition. Consequently, South Korean gaming firms have been left in a state of uncertainty, with many looking to expand their operations in overseas markets.
In addition to the ICO ban, South Korean gaming companies face further obstacles. Bans on play-to-earn gaming titles remain in place, discouraging domestic market growth. Furthermore, gaming regulators have implemented stringent anti-NFT regulations, preventing many game developers from accessing their own home markets. These restrictions have fueled the desire of South Korean gaming giants like Netmarble to look beyond their borders and explore opportunities abroad.
Netmarble’s breakthrough into the Japanese blockchain gaming market signifies a significant achievement for the South Korean video games giant and the larger gaming industry. As Japan embraces deregulation and digital innovation, it opens up exciting possibilities for South Korean gaming firms to expand their presence in the global gaming landscape. The listing of MarbleX’s MBX token on Zaif is not only a triumph for Netmarble but also a testament to the growing synergy between blockchain technology and the gaming industry in the Asia-Pacific region.