[Special Stock] Wemade Max Expected to Be Excluded from NFT Taxation... A World Where Selling Items Earns Money

[Asia Economy Reporter Hyungsoo Park] Wemade and Wemade Max are showing strong performance. Expectations that non-fungible tokens (NFTs) will be excluded from the virtual asset investment income tax policy next year seem to be influencing stock prices.

As of 11:10 AM on the 8th, Wemade Max is trading at 31,700 KRW, up 7.28% compared to the previous trading day.

The Financial Services Commission is known to have interpreted that "NFTs are not virtual assets." According to the interpretation of the guidelines on virtual assets and virtual asset service providers recently issued by the Financial Action Task Force (FATF), NFTs cannot be considered as investment or payment means and therefore are not included in the category of virtual assets. A business newspaper quoted a Financial Services Commission official the day before, reporting, "In the FATF virtual asset regulatory guideline update, general NFTs are not considered virtual assets and are not subject to regulation."

Since NFTs are originally unique or produced in very limited quantities, and not created in millions or tens of millions like currency for use as money, the possibility of considering them as virtual assets appears to be low.

The gaming industry has recently been focused on 'P2E (Play-to-Earn).' Play-to-Earn is the concept of "earning money while playing games." It is a system that allows game money or items used within the game to be exchanged for NFTs. In other words, virtual assets in the game become real money.

Wemade's massively multiplayer online role-playing game (MMORPG) 'Mir4' is one of the leading examples of P2E. Users of the global version of Mir4 can collect 100,000 units of the in-game resource 'Heukcheol' and exchange them for one game coin called 'Draco' coin.

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