South Korean Government is contemplating hard regarding its first regulations on games based on cryptocurrency. It is planning to think deeply before coming up with a decision since this is the first example of combining a game with cryptocurrency in South Korea.
According to Game Rating and Administration Committee (GRAC) and game industry, although GRAC received a justification from Flero Games regarding re-classification of ‘Yuna’s Closet’s rating, it has yet to discuss about this issue during its meetings. It is rare when GRAC does not make a decision for about a month on games that are set to go under re-classification of rating. GRAC holds a meeting every week regarding rating of games.
Previously, GRAC decided that a rating for ‘Yuna’s Closet’, which is a game that is applied with a blockchain-based cryptocurrency called ‘PXC’, should be upgraded to a game for adults only.
It decided that this game involves gambling when items can be traded through cryptocurrency.
Yuna’s Closet was originally rated as a game that can be played by anyone and it was released after going through voluntary reviews by platform and gaming businesses during the first half. Yuna’s Closet is the first game that has its rating gone up after GRAC conducted a further review.
Flero Games that provides services to Yuna’s Closet told GRAC earlier this month that it will mark Yuna’s Closet as an adults only game if GRAC is thinking about changing game ratings even though Yuna’s Closet does not involve gambling.
Flero Games had gone through legal examinations through a legal corporate during a justification process.
“We are currently waiting for an answer from GRAC.” said a representative for Flero Games. “Although Yuna’s Closet does not involve gambling, we will ultimately follow GRAC’s decision.”
Although Flero Games is indicating that it will follow whatever decision GRAC comes up with, it seems that GRAC will not come up with a decision easily.
“Since this is the first incident of reviewing a game that is combined with blockchain-based cryptocurrency, it is taking much longer to come up with a decision.” said a representative for GRAC. “Since we need to look into legal matters as well, it is taking much longer.”
South Korean game developers such as Neowiz, HanbitSoft, and Neptune are considering to combine their games with blockchain-based cryptocurrencies and most of them are targeting global markets.
“Yuna’s Closet is a classic example of combination of a game and a cryptocurrency.” said a representative for a game developer. “We are paying careful attention to GRAC’s decision since its decision will direct regulations on games involving cryptocurrency.”
Staff Reporter Kim, Siso | siso@etnews.com