SEOUL, South Korea, Nov. 18, 2021 /PRNewswire-PRWeb/ -- GAMEVIL COM2US Platform (CEO: Jae Joon Song), a subsidiary of GAMEVIL (CEO: Yong Kuk Lee), has announced that the company has formed a Memorandum of Understanding (MOU) with Terraform Labs Korea (CEO: Do Kwon) to establish a blockchain ecosystem.
According to this MOU, both companies plan to operate 'Project C2X (tentative name)' in order to issue C2X Tokens and create a blockchain ecosystem. Building a stable platform through the strategic partnership with Terraform Labs will enable both companies to expand their domain, as Terraform Labs have already proven their technology in the global market to run a top level blockchain. With technical support from the Terra blockchain network, renowned for their excellence and outstanding stability in the global market, GAMEVIL and COM2US will accelerate issuing the group's own token (C2X, tentative) as well as speed up plans to develop blockchain games and the NFT market. The group will also expedite establishing its blockchain game ecosystem and renovate its existing game-specialized platform 'Hive' into a global blockchain open platform by implementing a blockchain exclusive SDK. Hive is a game platform optimized for global service based on over 100 million active global users annually; integrating Terra blockchain technology into the platform will significantly improve ease and usability for blockchain game developers.
Terra blockchain platform is recognized as a major decentralized finance (De-Fi) platform as it provides fast and stable De-Fi services while offering low network costs. Terra's influence is increasing as it raised $175 million in 2021 for its ecosystem and the platform has become a key player in blockchain-based decentralized apps. Terra offers features and services for token rewards which is especially significant in play-to-earn (P2E) games, so the strategic partnership is expected to have an even larger impact in the global market. Next quarter, GAMEVIL and Com2uS will begin to showcase internally developed blockchain games such as Summoners War: Chronicle, a MMORPG based on global hit Summoners War intellectual property and their collection RPG, Chromatic Souls: AFK Raid, as well as a variety of new titles from third party developers utilizing Hive.
The NFT marketplace targeted to open in the first quarter of 2022 will be built on the Terra blockchain network. Terra blockchain currently powers various NFT marketplaces. One recent NFT from their collection called Galactic Punks, was sold at nearly $850,000. Starting with videos, photo shoots, and fan arts of K-Pop artists, GAMEVIL COM2US group's NFT marketplace aims to expand its domain with globally popular K-content such as TV shows, movies, and games, and more.
GAMEVIL has published games optimized for mobile devices enjoyed by millions of players since 2000. GAMEVIL is an experienced global mobile game developer and publisher, having worked with more than 70 top studios around the world. With offices in Los Angeles, Berlin, Tokyo, Beijing, Bangkok, Taipei, Hanoi, Jakarta, and headquartered in Seoul, GAMEVIL has been able to craft numerous award-winning games with a diverse background through a deep understanding of the industry and regional knowledge. GAMEVIL continues to lead the sector with a commitment to establishing mobile gaming as a way of life.
Established in 1998 and headquartered in South Korea, Com2uS operates internationally with offices in the United States, Germany, Japan, Indonesia, Taiwan, China, Thailand and Vietnam, and became a subsidiary of GAMEVIL in 2013. The mission is simple. As a leading developer and publisher of mobile games, they thrive on creating games with a level of depth and engagement rarely experienced on mobile platforms.
Com2uS has a number of mobile games around the world, including Summoners War, Ace Fishing: Wild Catch and Golf Star. With over 100 million downloads and global sales of $2 billion, Summoners War is the #1 grossing game in 86 countries and in the top 10 in 137. The game's RPG mobile sales is ranked first in 133 countries and continues to grow worldwide.
Terra is an application-specific blockchain built on the Cosmos SDK and Tendermint consensus. The Terra protocol deploys a suite of algorithmic, fiat-pegged stablecoins underpinning a thriving DeFi ecosystem like Anchor, CHAI, and Mirror Protocol. LUNA, the native staking and governance asset of Terra, absorbs the short-term volatility of Terra's stablecoins, with Terra's stablecoin (e.g., UST) demand a function of demand for Terra's DeFi ecosystem -- accruing value to LUNA via seigniorage.
Nick Rodriguez, Melrose PR, 310-260-7901, [email protected]
SOURCE Terraform Labs (TFL)