Nexters Acquires OneStore for $626 Million, Aims to Build a Blockchain Gaming Hub
Written with artificial intelligence.
Nexters, a blockchain gaming platform, has acquired OneStore, a South Korean app marketplace, for approximately $626 million. The acquisition aims to transform OneStore into a global Web3 and AI-focused gaming hub, integrating various gaming platform capabilities.
Overview of the Acquisition
Nexters, a blockchain gaming company, has made headlines by acquiring OneStore, a local South Korean app marketplace, for about $626 million. This acquisition, announced during a board meeting on the 18th, involves Nexters purchasing 20,247,990 shares of OneStore, representing an 89.03% stake.
The goal of this acquisition is to enhance OneStore's existing operations and merge them with Nexters' vision for a comprehensive gaming platform. This transformation aims to position OneStore as a leading Web3 gaming store globally, integrating features such as web shops, payment systems, and community tools.
Future Plans for OneStore
With the acquisition, Nexters plans to evolve OneStore into a 'super app' for gamers, facilitating game discovery, enjoyment, and community building. For game developers, OneStore will offer a one-stop solution covering user acquisition, community management, and game economy oversight.
Additionally, the strategy includes leveraging blockchain technology to expand OneStore's global gaming hub initiative. Unlike existing app marketplaces, OneStore will fully support Web3 capabilities, including wallets, stablecoins, decentralized exchanges (DEX), staking, and bridging.
Brand Integration and AI Development
The acquisition will also lead to a rebranding effort. The mainnet for the on-chain gaming platform, currently called CROSS, is set to be renamed to OneChain, while the native token CROSS ($CROSS) will be rebranded to One ($ONE). This is part of a strategy to create a unified brand identity linking OneStore and its new offerings.
CEO of Nexters, Jang Hyun-guk, expressed a commitment to providing better experiences for players and stronger solutions for developers, emphasizing the potential of AI and blockchain technologies to revolutionize the gaming landscape. The existing partnerships and business structure of OneStore will remain intact, ensuring continuity and enhancement of its competitive edge in the market.