Kakao Games Subsidiaries FriendsGames and WayToBit Merge

[Asia Economy Reporter Buaeri] Kakao Games' core affiliates Friends Games and Way2Bit are merging.

Friends Games and Way2Bit held a board meeting on the 27th and finalized the merger. The merger process is expected to be completed in early July.

The surviving entity after the merger will be Friends Games, with representatives Jeong Wook and Song Gyehan serving as co-CEOs.

The company stated that through this merger, they will build a platform that distributes the digital value of cultural content such as games, music, videos, and artworks by utilizing blockchain-based NFT (Non-Fungible Token) technology. Furthermore, they plan to explore integration with the metaverse.

Friends Games, established in 2018, is a casual game specialist developer. They have released the game "Friends Town" based on the Kakao Friends intellectual property (IP) and are developing various genres of mobile games including a new project tentatively titled "Project King."

Way2Bit, incorporated as a Kakao Games affiliate in December last year, operates the blockchain-based digital content platform "BORA" and engages in various blockchain-based businesses.

The company stated, "We will continuously develop the core development and business of each company and maximize business synergy by combining each company's specialized capabilities."

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