South Korea has proven to be very friendly towards cryptocurrencies over the years. However, South Korea has also maintained its reputation as a highly strict and firm country in terms of regulating cryptocurrencies.
From opening up an entire hub for cryptocurrencies and blockchains to taking legal action against Terraform, South Korea has proven to be highly active and vigilant.
However, as South Korea has shown strictness towards Terraform and is planning to implement crypto taxation, many crypto followers consider South Korea to be very complex.
Sky Mavis Doubles Down on its Expansion in South Korea
Sky Davis, the firm behind the development of Axie Infinity is now aiming to expand its exposure in the South Korean region.
Despite the regulatory hurdles, Sky Mavis is aiming to go all out in order to expand its services in South Korea. Axie Infinity is a play-to-earn (P2E) platform that is widely adopted throughout the cryptocurrency universe.
Jeffrey Zirlin’s Remarks on South Korea
Jeffrey Zirlin, the growth lead and co-founder at Sky Mavis talked about the expansion of their services in the South Korean region.
He stated that they are finding great support within the South Korean market. They have a strong player base in South Korea and they want to increase it tremendously by applying many resources in the market.
Zirlin stated that the P2E games are still banned on a domestic level. However, they have a great player base in South Korea, and tons of players keep joining their games on a regular basis.
He added that they are trying to find as many ways as possible to cohort their players from South Korea. They want them to benefit from playing their game as much as possible.
Zirlin stated that they want to expand in South Korea but they are faced with one major hurdle. The major hurdle for them is the language barrier that they are trying to deal with as fast as they can in South Korea.
South Korea’s Contribution to Gaming
South Korea is known for being one of the most pro countries when it comes to gaming. The gaming community in South Korea is extremely strong and the Korean players are known all over the world.
Just like any other game, South Koreans are dominant in Axie Infinity, which is very promising for Sky Davis.
As of July 2022, the active gaming community of Axie Infinity is 800,000. However, with expansion in the South Korean region, Axie Infinity wants to increase its user base by millions.
In the past 24 hours, the trading value of Axie Infinity has surged by 1.61% and it is currently trading at $7.50. As the demand for Axie Infinity grows, its value may record a strong rally.