Finally, Emurgo – the official venture and commercial arm of Cardano – has found its way into the Korean market. Emurgo recently secured a partnership with government-approved trade associations in Korea. According to Cardano, the collaboration will focus on the implementation of Cardano for mobile gaming and digital content in Korea. This partnership shows the continuous growth of the adoption of Cardano in Asia.
Cardano Is Gaining Grounds in the Asia Market – Cryptocurrency News Today – Cardano News – Crypto Price Update
As per the publication released on August 20, Emurgo has signed a memorandum of understanding with the Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA). The two organizations are approved by the South Korean Ministry of Science and ICT. With this partnership, both entities can work together to further develop the blockchain-based solutions of Cardano. The mobile gaming and digital content industries are two of the fastest-growing industries in Korea, and Emurgo will be integrating Cardano into both industries. According to the CEO of Emurgo, Ken Kodama, the mobile gaming industry is a very lucrative one with an enormous potential for the implementation of blockchain.
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The gaming industry of Korea is a perfect market for blockchain. Korea boasts of the highest mobile gaming rates and smartphone penetration in the world. This makes the nation a great tech-savvy environment for driving the adoption of blockchain-related products. Nine out of ten South Koreans own a smartphone. This high rate of smartphone ownership has made the country one of the biggest online content consumers. According to an eMarketer study, Korean adult consumers spend over 50 percent of their online time on digital content platforms.
Will These Partnerships Have an Impact on Cardano (ADA) Price? – Will Cardano Price Go Up? – Cryptocurrency News Today – Cardano News Update
Considering the technological infrastructure in the country, Korea is a perfect place to implement the third-generation blockchain-based solutions of Cardano. Leading content creation and game development enterprises will greatly benefit from these solutions. However, the big question is, will these partnerships have an impact on the price of Cardano (ADA)?
Cardano (ADA) has recorded slight gains over the past twenty-four hours. The price of the digital currency is up by more than five percent over the past day, leaving ADA to USD price at $0.0500. The immediate support of the digital currency is the $0.0490 mark. On the upside, Cardano to USD price is facing hurdle at the $0.0550 level. The current market cap of Cardano is $1.30 billion. The trading volume of Cardano (ADA) over the past twenty-four hours is $64.30 million.