Cardano’s official commercial and venture arm, Emurgo, signed a memorandum of understanding with two government-approved trade associations in Korea. The partnerships will focus on implementing Cardano for Korean digital content and mobile gaming.
Emurgo enters the Korean market
Cardano adoption continues to grow in Asia. The company’s official partner and commercial arm, Emurgo, partnered with two trade associations in Korea. According to an Aug. 20 press release, Emurgo formally signed a memorandum of understanding (MOU) 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.
The partnership will bring the companies together and help them develop Cardano’s blockchain-based solutions. Emurgo will work on integrating Cardano into the digital content and mobile gaming industries, two of the fastest-growing sectors in Korea.
Ken Kodama, the CEO of Emurgo, said that mobile gaming was a lucrative industry with a huge potential for blockchain implementation.
Korea’s gaming craze a perfect environment for blockchain
Considering that Korea has the highest smartphone penetration and mobile gaming rates in the world, the country is the perfect tech-savvy environment for driving blockchain-related adoption.
The high rate of smartphone ownership (9 out of 10 South Koreans own a smartphone) has made South Korea one of the biggest consumers of online content. An eMarketer study found that Korean adult consumers spend more than half of their time online on digital content platforms.
In combination with mature technological infrastructure, Korea will be a perfect place to implement Cardano’s third-generation blockchain-based solutions, Emurgo said in its press release. Leading game development and content creation enterprises, hundreds of which are members of both KBCCA and KMGA, will be able to benefit from these solutions.
We are yet to see whether these partnerships have any major effect on Cardano’s ADA, which saw a slight price increase in the past couple of days, growing over 6 percent between Aug. 21 and Aug. 22.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Like what you read? Give us one like or share it to your friends