Play to Earn games usually require the user to invest money to acquire NFTs, or non fungible tokens which in turn can be used to earn rewards in-game. NFT games are popular within the cryptocurrency industry; however, a law in South Korea says that a person can only win $8.42 at any one point.
The South Korean government has ordered Google and Apple to delete their ‘play to earn’ games because they violate the country’s profit cap. Leading platforms are now being asked to remove ‘P2E’ apps as a result of the App Store’s new laws, with the Game Management Committee citing Supreme Court precedent for this action.
The government tried to block these games by asking for age ratings, to which a few apps have passed. Now, they are setting a precedent and asking Google and Apple to block those that require an in-app purchase before they could be played.