City Labs Makes Strategic Equity Investment in Haru Enter

[Asia Economy Reporter Hyungsoo Park] City Labs announced on the 7th that it has acquired a 10% stake in P2E (Play To Earn) game developer Haru Entertainment. The partnership has been strengthened as they plan to release the game ‘Agisang-eo Bubblepong Friends’ in the first half of this year.

Haru Entertainment is the developer of the casual puzzle genre game ‘Agisang-eo Bubblepong Friends,’ which is based on bubble shooter mechanics. City Labs signed a global publishing contract for ‘Agisang-eo Bubblepong Friends’ in November last year and is jointly developing the blockchain component within the game together with Haru Entertainment.

Haru Entertainment has developed domestic indie games and hyper-casual genre games that have surpassed 1 million downloads, including Rookie Tank and Sunless City. CEO Choi Hoon, who has dedicated 16 years to game development and service, leads the company.

Since 2018, Haru Entertainment has been developing blockchain-based P2E games, and in the following year, the officially released ‘EOS BLASTERZ’ in collaboration with EOSIS entered 6th place in the overall popularity ranking of blockchain games according to DappRadar. In 2020, they actively developed blockchain games by launching services such as Guihon and Princess Maker using the Mgame and Klaytn mainnet.

City Labs CEO Cho Youngjoong said, "With many business intersections including gaming and blockchain technology, we plan to actively approach multifaceted business discussions such as additional investments in P2E game companies currently under review, taking the investment in Haru Entertainment as an opportunity."

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