Nexters Acquires 89.03% of One Store to Expand AI and Web3 Game Distribution

Nexters has acquired an 89.03% stake in One Store and is moving forward with the establishment of an AI and Web3 game distribution platform. The acquisition was completed for 62.62703 billion won, including shares from SK Square, Naver, Steel Number One First, and Krafton. The funding for the acquisition was secured through a third-party allocation of new shares amounting to 39.49511 billion won and corporate bonds totaling 23.13192 billion won. Nexters plans to expand One Store into a domestic game hub and a global Web3 game store. The existing on-chain game platform, Cross, will be integrated under the brand OneChain, with its native token, Cross, being rebranded as One (ONE). AI games are also a crucial element of the platform's expansion, with Nexters unveiling nine games that will onboard to the on-chain game platform, One. These games will include MMORPGs, strategy simulation games (SLGs), collectible role-playing games (RPGs), and trading card games (TCGs). Following the acquisition announcement, Nexters' stock price fell by 20.82% to 2,130 won on June 19. Web3 game distribution is influenced by virtual asset regulations in different countries and app market policies, and the scope of Nexters' blockchain wallet and decentralized exchange has yet to be clarified.

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