Per a recent announcement, Emurgo, Cardano’s official commercial and venture arm has recently signed a memorandum of understanding with the Korea Blockchain Contents Association (KBCCA) and the Korea Mobile Game Association (KMGA), both of which are approved by the South Korean Ministry of Science and ICT. KBCCA & KMGA both have a clientele consisting of local enterprises.
The partnership will help the companies develop Cardano’s blockchain-based solutions. Furthermore, Emurgo seeks to integrate Cardano into the digital content a mobile gaming industries.
From the CEO’s Desk
Ken Kodama, the CEO of Emurgo, said,
“EMURGO is pleased to collaborate with KBCCA & KMGA to foster the continued development of blockchain-based content & mobile gaming industries. With digital content & mobile gaming rising in popularity year after year, there is a huge untapped potential to implement blockchain-based solutions into these lucrative industries,”
Highest Smartphone Penetration Rate
As per studies, South Korea has the highest smartphone penetration rate in the world. Interestingly, 9 out of 10 South Koreans own a smartphone. Moreover, South Korean consumers are increasingly using online content platforms for media consumption. Further, this is catalyzed by the high smartphone penetration rate and content-rich platforms. Reportedly, Korean adult consumers spend more than half of their time on these digital content platforms.
Thus, the tech-savvy atmosphere in South Korea makes up for the perfect foundation to implement Cardano’s third-generation blockchain-based solutions into leading game development and content creation enterprises.
EMURGO is headquartered in Singapore, with a presence in Japan, the USA, India, and Indonesia. The firm works in close collaboration with IOHK and The Cardano Foundation to grow Cardano’s ecosystem globally, and promote its adoption.
Cardano’s native cryptocurrency, ADA has seen a jump of 5.14% in its price in the past 24 hours and is trading at $0.05 at press time.