Korean banks are gradually dipping their toes in the market, and gaming firms are trying to capitalize in the crypto-frenzied market.
“Keep building” was the general vibe of last week’s Korea Blockchain Week (KBW) event – a complete 180-degree turn from last year’s comparatively flashier show. Homegrown gaming upstarts dominated the venue, pitching gambling, racing, metaverse and arcade apps built on networks, such as Ethereum, Solana, Cosmos and others.
“From the discussions I had with the major ecosystem players, it did have a huge impact that forever changed the Korean [decentralized finance, or DeFi] ecosystem for institutions,” Hoon Kim, the chief technology officer at blockchain project Astar, told CoinDesk. “It made it harder for the retail investors to look at domestic projects, and companies started to look at all of their options with a critical lens.”