FSN Signs 'P2E and NFT Business Partnership MOU' with Japan's Comseed

[Asia Economy Reporter Jang Hyowon] FSN, a KOSDAQ-listed company, is expanding its blockchain business ecosystem by promoting a P2E (Play to Earn)-based social casino game business.

On the 25th, FSN announced that it signed a strategic business agreement (MOU) with Commseed, a Japanese listed company that provides online and mobile services for pachinko and pachislot games, which are considered representative leisure industries in Japan. Based on this MOU, the two companies will actively cooperate in P2E-based game linkage and development using blockchain technology, as well as expanding P2E game and NFT business networks centered on North America, Greater China, and Southeast Asia.

Commseed, led by co-CEO Lee Jungseop, former CEO of Pearl Abyss Japan, operates a smartphone game platform inspired by virtual halls of Japan’s largest pachinko and pachislot businesses. Currently, the industry-leading platform “Gripachi,” which has established itself as Commseed’s flagship service, hosts over 150 pachinko and pachislot game titles. The “Gripachi” platform has been in service for over 10 years, making it the longest-running and highest-traffic platform in the related Japanese industry. The annual circulation amount of the platform’s in-game currency, “Pachi Dollar,” operated by Commseed, is estimated to be approximately KRW 4.6 trillion.

Pachinko holds the largest share among all leisure industries in Japan. According to the Leisure White Paper released by the Japanese government, pachinko sales in Japan reached 19.54 trillion yen (approximately KRW 222.13 trillion) last year, accounting for 27.9% of the entire leisure industry, making it the most significant sector and regarded as a national leisure industry.

Since cash transactions through games are legally restricted in both Korea and Japan, FSN plans to conduct legal reviews and establish business models with Commseed, aiming to enter the Japanese social casino market and launch new P2E-based game services centered on North America, Greater China, and Southeast Asia, thereby expanding its business alliance front. FSN expects active overseas market entry in future joint business initiatives, especially as it already has a well-established subsidiary network mainly in Greater China and Southeast Asia.

Lee Sangseok, CEO of FSN, stated, “We will actively expand the NFT business linked to decentralized finance and K-pop content centered on the DEX ‘Dfinix’ launched in the blockchain new business sector. Additionally, through this MOU, we plan to fully promote P2E services and continuously expand the ecosystem based on Six and Finix of Six Network.” He added, “Commseed recently established Commseed Korea and is preparing to launch global social casino games. We will actively collaborate and promote various measures to expand domestic and international business networks and cooperate in blockchain technology.”

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