Best P2E Games

South Korea’s Removal Play-to-Earn

South Korea’s Removal Play-to-Earn

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South Korea Tightens Noose against P2E games by involving Apple and Google.

In a recent move by the regulatory authorities in South Korea, Apple and Google are asked to remove play-to-earn games from their respective stores. South Korea’s Game Management Committee (GMC) states that the P2E games breach its local rules about how much money a player can earn from a game in one go.

South Korea's Request Removal Play-to-Earn Games From App Stores
South Korea’s Request Removal Play-to-Earn Games From App Stores

The step to ask Google and Apple to remove P2E games comes in light of South Korea’s Supreme Court decision. The country is implementing new laws related to crypto and P2E games which lead GMC to ask leading app store companies to delist games.

Moreover, it has also asked Apple and Google not to provide age restrictions to such games which will ultimately stop the release of the games. Under South Korean laws, game developers are required to obtain age classification to launch a game in the country.

The age rating is obtained by the government’s Game Content Rating Board (GRCB), or Independent Rating Classification Business Entity like App Store and Google’s Play Store.

This move will stop the release of P2E games in South Korea and evidently, the country’s stance against blockchain-based games is getting tougher and forceful.

A GMC official released a statement in this regard, “It is reasonable to keep P2E games from getting age ratings under the current law,” reports Coin Telegraph, “because cash rewards in games can be considered prizes.

South Korea's Request Removal Play-to-Earn Games From App Stores
South Korea’s Request Removal Play-to-Earn Games From App Stores

South Korean law only allows a player to make $8.42 from a game at one single time. However, there are cases where the government’s age rating move hasn’t turned out as successful.

Recently, “Fivestars for Klatyn” game succeeded in getting approval when its developer won an injunction against the order. To counter this loophole, GMC has asked Apple, and Google to block such games that require in-app purchases before a player could even start to play them.

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South Korea’s Removal Play-to-Earn

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Farcana Game – Sci-Fi Team Ability Shooter with Bitcoin Rewards

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Best P2E Games list 2024

South Korea’s Removal Play-to-Earn

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.