Seoul Court Dismisses South Korean NFT Game's Appeal Against GRAC
January 17, 2023
Story: Mohd Javed
Seoul Administrative Court dismissed SkyPeople’s appeal against the Game Rating Administrative Committee’s (GRAC) decision not to proceed age ratings of Five Stars.
NFTs cannot be seen as game items if they are traded on exchanges, the court said.
In its appeal, South Korea’s NFT game developer argued that NFT game items are not rewards but records of ownership.
Five Stars allows players to mint characters and items into tradable NFTs on the Klaytn blockchain.
GRAC, a govt body that rates video games to inform customers of the nature of game contents, has banned the crypto base NFT games in South Korea
South Korean president Yoon Suk-yeol had promised to lift ban on P2E during his last year’s poll campaign.
P2E makers have released blockchain-based games abroad, hoping that the local ban will be lifted.