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EMURGO, the official commercial and venture arm of the Cardano blockchain project, has signed memorandums of understanding (MOUs) with Korea Blockchain Contents Association (KBCCA) and Korea Mobile Game Association (KMGA).
KBCCA, which counts more than 150 companies as members, provides integrated blockchain contents services through mobile and other various content projects. KMGA, on the other hand, seeks the mutual growth of game developer companies through practical, on-site support with currently over 800 member companies.
Both trade associations are approved by the Ministry of Science & ICT with the objective of encouraging healthy, innovative growth of the local digital content and gaming industries by forming alliances and resource sharing between stakeholders.
Under the MOUs, the entities will work together to identify and explore potentially aligned synergies with integrating Cardano's blockchain-based solutions into the Korean digital content & mobile gaming industries.
"EMURGO is pleased to collaborate with KBCCA & KMGA to foster the continued development of blockchain-based content & mobile gaming industries. With digital content & mobile gaming rising in popularity year after year, there is a huge untapped potential to implement blockchain-based solutions into these lucrative industries," EMURGO CEO Ken Kodama said.
South Korea is the fourth-largest mobile gaming market in the world. Also with a reported 9 out of 10 South Koreans owning a smartphone, the country is said to have the world’s highest smartphone penetration rate. The largest mobile gaming user demographics are adults aged 21-35, which is aligned with the average tech-savvy young adults interested in blockchain technology.
In addition, South Korean consumers are also increasingly resorting to online content platforms for media consumption fueled by the high domestic smartphone penetration rate and a wide offering of content-rich platforms. Korean adult consumers reportedly spend more than half of their time online on these digital content platforms.
“The combination of an extremely high rate of smartphone ownership along with a developed gaming culture and technological infrastructure in Korea, serves as a strong foundation to potentially implement Cardano's third-generation blockchain-based solutions into leading game development and content creation enterprises,” EMURGO said.
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