Maxst announced on the 14th that it has welcomed a new major shareholder, changed its company name to 'Bitmax,' and will actively pursue new businesses centered on Bitcoin as a core asset.
Recently, Maxst changed its major shareholder from Jae-wan Park and four others to Meta Platform Investment Association, leading to the company name change to 'Bitmax.' Bitmax plans to adopt a business model that uses Bitcoin as a strategic asset, similar to MicroStrategy in the United States and Meta Planet in Japan.
MicroStrategy is known as the company holding the largest amount of Bitcoin in the world. Since 2020, the company has been purchasing Bitcoin on a large scale and currently holds over 470,000 Bitcoins, with related assets valued at approximately 80 trillion KRW. Meta Planet is a Japanese hotel development company that held 1,762 Bitcoins last month, and its stock price rose about 4,000% over the past year due to asset value appreciation.
A Bitmax representative explained, “The Korean market is highly closed and volatile, causing the 'Kimchi Premium (Kimp)' phenomenon to occur frequently,” adding, “The average Kimp is around 4%, but during rapid market fluctuations, it can expand up to 10%.”
They continued, “Despite these market characteristics, companies adopting Bitcoin as a strategic asset are increasing, mainly in the United States,” and added, “With the increase in net inflows into Bitcoin ETFs and expected additional issuances, the value of Bitcoin will continue to rise.”
Bitmax is preparing to establish a legal virtual asset business overseas. Additionally, it is exploring ways to tokenize real-world assets on-chain through integration with DeFi (Decentralized Finance) and utilize them as financial products. Alongside this, the company plans to actively promote the RWA (Real World Asset) tokenization business.
The company stated, “In the United States, 15 states including Pennsylvania, Texas, and Florida are pushing bills to recognize Bitcoin as a strategic reserve asset, and Arizona and Utah are rapidly advancing their legislative processes,” expressing expectations that “this trend will positively impact the growth of Bitmax’s virtual asset business.”
Meanwhile, Maxst, an XR (Extended Reality) tech company, has been working to expand the global AR ecosystem by developing an Augmented Reality Developer Kit (AR SDK). The AR SDK has surpassed 30,000 cumulative downloads worldwide, and AR apps developed using it have reached 6.6 million users globally. Maxst plans to focus on AR platforms and digital twin platforms to achieve tangible results.
A Maxst representative forecasted, “Since the AR SDK enables easy and precise augmentation of various AR content in reality through simple spatial recognition and scanning functions, the number of companies seeking Maxst’s AR solutions is expected to increase.”
Bitmax is smoothly expanding its gaming business through Needs Games, a game company acquired last year. Needs Games is the developer of the action RPG 'Undecember,' and Bitmax invested 6 billion KRW to acquire a 70.77% stake in Needs Games, becoming the largest shareholder.
A company representative said, “Needs Games’ 'Undecember' has achieved cumulative sales of 100 billion KRW since its service launch,” and added, “The upcoming 'Undecember 2,' scheduled for release this summer, will be directly distributed by Bitmax to maximize profits.”
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