Nexust acquires controlling stake in One Store to transform the Korean app market into a global Web3 game hub and AI native platform
Changes in the South Korean digital distribution market are taking place as blockchain platform developer company Nexust takes a controlling ownership stake of 89.03% of the local app market One Store. Nexust's official company BOD filings show the purchase approval of 20, 247, 990 of the shares of One Store (to one store). The deal is valued at roughly W 62.6 billion, to be paid to a consortium of large corporate sellers.
The XLAs comprise SK Sq with 45.78%, Naver with 24.06%, Silver Number One Jeil cha with 17.02% and Krafton with 2.17% Of the ownership. To maintain the business having certainty SK SQURE Naver and Krafton will move into strategic investor category, as part of the new Nexust structure its role provide a platform whereby One Store can continue with current business platform and business partners as well as new corporate bridge holdings. One Store was founded some 10 years ago as a joint venture between the three largest mobile carriers in Korea and internet portal Naver.
Nexust aim to utilize the current base of One Store with the existing 38 million+ mobile devices installed throughout South Korea. The acquisition strategy incorporates proprietary full stack gaming platform capabilities into the app store such as web shops, digital payments and community management systems. The unified live ops platform for developers also incorporates solutions for user acquisition and community management aimed at controlling the virtual economy within a single environment.
Primary extension plan make a global web3 games store by blockchain technology to support on chain function so that decentralized app distributors can accept the global version of one store, which will support on chain function in the future. User will transplants digital wallets stablecoins decentralized exchanges staking function and token Bridges directly into the user interface under a native web3 user experience.
In response to the rapid growth of artificial intelligence in game development the platform is transforming into an AI native game hub. This system will employ machine learning to sift through and recommend an extremely large database of games produced by a combination of human and generative AIs in near real time. Through this process the system will deliver users the most relevant content possible as the number of software packages scales worldwide.
Furthermore, the transaction will help start a complete corporate rebranding to position an unified global platform that offers in a single brand one chain mainnet, formerly known on chain as the CROSS, will be renamed as "OneChain", and the utility token in its world wide context the native token 'CROSS' will be rebranded as 'ONE'.
A change in ownership through acquisition of the platform by MaturityOne will not affect the business strategy of issuing Standard mobile applications, Digital media, Wep novels, and Wep toons as the current relationships with the existing content providers and mobile operators will remain.
Commenting on the platform's push for long term strategy, the CEO of Nexust Jang Hyun guk, said that
"the vision is to be able to provide more fun to players and more powerful solutions to game providers, and to continue to pursue becoming the leading world game platform based on block chain combined with artificial intelligence."
