In Brief:
Strategic Acquisition: KOSDAQ-listed Nexus acquires ONE Store, founded by SK Telecom and others, boasting over 38 million installs. SK Square, Naver, and Krafton invest in Nexus as part of the deal.
Innovative Transformation: Nexus plans to convert ONE Store into a full-stack game hub domestically and launch it globally as the first Web3-native game store.
AI-driven Platform: An AI-native layer will manage game discovery and curation, accommodating the surge of both human-created and AI-generated games.
Strategic Acquisition and Expansion
Nexus, a listed entity on KOSDAQ, has completed the acquisition of ONE Store, a major South Korean app marketplace. Initially established in 2016 by leading telecom giants SK Telecom, KT, LG U+, and internet company Naver, ONE Store has become a pivotal platform in the region’s digital distribution landscape, particularly for games. This acquisition is part of Nexus’ broader strategy to expand its digital offerings both domestically and globally, backed by strategic investments from SK Square, Naver, and Krafton.
Transforming into a Domestic Game Hub
Nexus has outlined plans to revamp ONE Store into a comprehensive game hub tailored to the needs of both players and developers. This transformation will encompass the integration of Nexus’ full-stack game platform technologies such as webshop functionalities, payments systems, community features, questing, streaming, and reward mechanisms rooted in the CROSS ecosystem. This initiative aims to provide a unified application that simplifies discovery, gameplay, and community interaction for users, while offering developers robust LiveOps resources for user acquisition and in-game economy management. Future plans include expanding the service to support iOS alongside the existing Android platform.
Launching a Global Web3 Game Store
Looking beyond the domestic market, Nexus plans to introduce a global version of ONE Store that incorporates blockchain technology, making it the first Web3-native game storefront. This version will support various blockchain functionalities including wallets, stablecoins, decentralized exchange (DEX) capabilities, token swaps, staking, and bridges, all integrated directly within the app. This initiative aims to create a versatile global platform that can accommodate any game, on any blockchain, catering to any market.
AI-Native Discovery and Curation
To address the challenges of scaling in an environment where game production is likely to increase due to AI advancements, Nexus will implement an AI-native platform layer. This technology is designed to manage the discovery and curation processes efficiently, ensuring that the increasing volume of games, both human-created and AI-generated, can be handled effectively without overwhelming traditional review systems.
Ensuring Business Continuity
With the acquisition, ONE Store will continue to manage and distribute its existing content, which includes games, apps, webtoons, and web novels. The store will maintain its established relationships with telecom operators and other key partners, ensuring a smooth transition and continuity in its operations.
Vision for the Future
“We will deliver a more enjoyable experience to players and a more powerful solution to game developers,” stated Henry Chang, CEO of Nexus. “As we meet the paradigm shift driven by AI and blockchain, we will push forward relentlessly until we achieve our vision of becoming the world’s No. 1 game platform.” Nexus views this acquisition not as a culmination but as a pivotal moment that propels further integration and innovation within the CROSS project ecosystem.
