[Asia Economy Reporter Hyungsoo Park] ME2ON is showing strong performance. The news that it is actively promoting a blockchain-based gaming business by combining the metaverse and non-fungible tokens (NFTs) seems to be influencing its stock price.
At 10:36 AM on the 18th, ME2ON was trading at 8,900 KRW, up 19.17% from the previous day.
ME2ON announced a business model that upgrades its existing metaverse casino service and declared its intention to lead the market as a blockchain gaming platform.
In 2018, ME2ON introduced the world’s first metaverse casino, the ‘Virtual Reality (VR) Casino.’ They plan to apply NFT technology to this. NFTs will also be applied to the global version of their game ‘Full Pot Hold’em.’
In the overseas version of the metaverse casino, VIP users who play games frequently will be able to create their own casino space through an ownership system that leases casino spaces. The plan is to implement a personalized casino by directly operating the casino, setting game rules, and utilizing various objects.
Profits generated here will be shared with the company, and the casino spaces will be tokenized as NFTs. They are developing a Play To Earn (P2E) business model where these NFTs can be bought and sold with cryptocurrency to generate revenue. The metaverse casino will be offered in VR market and 3D web browser versions.
They also plan to develop an NFT Hold’em by applying NFTs to each winning hand in the evolved global version of Full Pot Hold’em. This main project, targeted for the first half of next year, is expected to not only activate the NFT Hold’em game but also create new revenue through the NFT trading system.
ME2ON is also keeping open the possibility of issuing coins to be used in P2E games such as ‘MEVerse (ME2ON Metaverse Token)’ (tentative name) for the new business model. In the future, they plan to establish a foundation that enables P2E integration not only for ME2ON’s own games like the metaverse casino and Full Pot Hold’em but also for casual games from ME2GEN and ME2TOON & NOVEL within the ME2ON group.
Son Changwook, CEO of ME2ON, stated, "ME2ON has been providing VR metaverse game services for a long time. We plan to integrate advanced blockchain technology and NFTs into the game P2E economic system to create high synergy and results."
Founded in 2010, ME2ON is an abbreviation of ‘Me To Online,’ which implies the meaning of the metaverse. In December 2017, ME2ON linked a virtual currency payment system including Bitcoin to the overseas version of ‘Full Pot Hold’em.’ In February 2018, they launched the ‘VR Casino’ on Facebook’s Oculus Market and hold intellectual property rights for virtual reality casino games.
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