Kakao Games Becomes Largest Shareholder of Blockchain and Gaming Company 'WayToBit'

[Asia Economy Reporter Buaeri] WayToBit announced on the 17th that Kakao Games has become its largest shareholder.

Kakao Games exercised a call option to acquire approximately 280,000 additional shares of WayToBit, bringing its total stake to 45.8%.

Founded in 2017, WayToBit provides overseas services for PC online massively multiplayer online role-playing games (MMORPGs) such as 'Astellia Royal', 'Prip', and 'Lapels'.

In addition to the gaming business, WayToBit is developing blockchain technology and has filed patents, while also collaborating on a project utilizing blockchain technology in real life with the startup 'InfoSeed'.

WayToBit's sales this year are expected to reach 10 billion KRW, a 400% increase compared to last year.

CEO Song Gye-han said, "Through collaboration with Kakao Games, a leading domestic IT company, we expect to expand business areas between the two companies and take on new business fields."

Kakao Games stated that it decided to exercise the call option seeing the potential for sustainable growth, including diversification of business using WayToBit's blockchain technology and expertise as well as expansion into the global gaming business.

This content was produced with the assistance of AI translation services.