Kakao Games announced Friends Games, its subsidiary, will now become Meta Bora to focus on blockchain-based games and entertainment supporting its Bora cryptocurrency.
“We will work our hardest to help the development of the Web 3.0, such as in blockchain and the metaverse, by integrating Kakao Games’ game industry network and insight into the Bora ecosystem,” Kakao Games CEO Cho Kye-hyun said.
Major South Korean game companies, such as Com2uS, Netmarble and WeMade are in a race to develop non-fungible tokens (NFT), the metaverse and play-to-earn (P2E) gaming.
Bora is a cryptocurrency issued by blockchain developer Way2Bit, which Kakao Games acquired in 2020.
In May last year, Kakao Games completed the merger of Friends Games and Way2Bit.