Saad Ullah
Gaming to Crypto Exchanges
According to a South Korean based English daily news outlet, the chairman of NXC Corporation is planning to sell more than 98% of his company’s stake. This was reported by the English daily, citing a banking source that was actually talking to another news portal, JoongAng Ilbo.
Jing-ju Kim’s NXC Corporation, an online gaming giant in the South Korean market, own 47% of Nexon, the gaming developer.
This is where the trail really starts to get interesting. Nexon in turn has stakes in a local South Korean exchange, Korbit- and anotherin Bitstamp through its European subsidiary. So although the famous animation developer may be buying a game developer platform, it might just end up owing crypto exchanges too.
Kim, NXC Chairman is rumored to have close ties with Disney and he is preferring to execute the sale with it. Other buyers interested in the deal are China’s Tancent Corporation and South Korea’s Kakao Group.
Accidental Ownership?
Such is the nature of modern ownership and diversification that Disney, a cartoon media giant will end up owning stakes in the two crypto exchanges. Disney has preferred to avoid cryptocurrencies and blockchain, with its only dive into the decentralized ledger technology ending up without much success with its Dragonchain project. The blockchain project has not amounted to anything, even with its token generation event in 2017 netting USD 13 million from backers.
Neither of the exchanges has yet commented on the possibility of the deal being executed that would lead to the change of ownership.
Korbit is a relatively large exchange in the South Korean market, with Bitstamp being one of the oldest major crypto exchanges that is still in operation.
Saad Ullah
