Nexxus Acquires ONE store for 62.6 Billion Won, Aiming to Build a Global Web3 Game Hub

Nexxus Becomes Largest Shareholder with 89% Stake in ONE store
Naver, SK Square, and Krafton Join as Strategic Investors

Nexxus is set to acquire the homegrown app market, ONE store.

On June 18, Nexxus announced in a board meeting that it has decided to acquire 20,247,990 shares of ONE store, representing 84.63% of the company, for approximately 62.6 billion won. The shares being sold come from SK Square (45.78%), Naver (24.06%), Steel No.1 Jeilcha (17.02%), and Krafton (2.17%).

With this decision, Nexxus will become the largest shareholder, securing management rights by holding 89.03% of ONE store's shares. The scheduled date of acquisition is June 29. SK Square, Naver, and Krafton will participate as strategic investors.

Nexxus plans to raise approximately 39.5 billion won by issuing a total of 17,171,788 new shares to SK Square, Naver, and Krafton through a third-party allotment paid-in capital increase. The allocation ratio will be SK Square at 70.5%, Naver at 27%, and Krafton at 2.4%. In addition, Nexxus will raise a total of 21.2 billion won by issuing bearer, interest-bearing, non-guaranteed private convertible bonds (CB).

Nexxus stated that the purpose of the acquisition is “to create synergy between core businesses and secure future growth drivers through the acquisition of management rights.” The company plans to expand ONE store, which is installed on more than 38 million devices in Korea, into a Web3 (blockchain)-based gaming platform. Nexxus intends to integrate its web shop, payment, community, quest platform, streamer platform, and reward system to transform ONE store into a global “game hub.” Moreover, the company aims to develop ONE store into an AI-native gaming platform that can respond to the next-generation content creation era, as well as a platform for real-time game analysis and curation.

With this acquisition, Nexxus also plans to unify its branding. The mainnet of the on-chain gaming platform, currently called “CROSS,” will be renamed to “OneChain,” and the native token “CROSS ($CROSS)” will be renamed to “ONE ($ONE).”

Hyun Guk Jang, CEO of Nexxus, said, “We will provide a more enjoyable experience for players and more powerful solutions for game developers. As we embrace the paradigm shift brought by AI and blockchain technology, we will relentlessly pursue our vision to become the world’s number one gaming platform.”

This content was produced with the assistance of AI translation services.