Nexus Acquires ONE Store to Build Global Web3 Gaming Hub

Nexus has announced plans to acquire a controlling stake in South Korea’s domestic app marketplace ONE Store, marking a significant step in its strategy to strengthen its gaming ecosystem and expand its presence in the blockchain-powered gaming sector.

The company disclosed on June 18 that it would purchase an 84.63% stake in ONE Store Co., Ltd. from existing shareholders including SK Square, Naver, Steel Number One Jeilcha, and Krafton. The acquisition is valued at approximately 62.6 billion won.

Under the agreement, the stake being transferred consists of 45.78% from SK Square, 24.06% from Naver, 17.02% from Steel Number One Jeilcha, and 2.17% from Krafton. Following the completion of the transaction, Nexus is expected to hold an 89.03% ownership interest in ONE Store, giving it management control and making it the company’s largest shareholder. The deal is scheduled to close on June 29.

Strategic Growth Through Platform Integration

Nexus explained that the acquisition is intended to generate synergies across its core business segments while also securing new long-term growth opportunities. The company believes that obtaining management control of ONE Store will strengthen its ability to integrate services and expand its influence within the gaming and digital platform industries.

As part of the transaction, SK Square, Naver, and Krafton will become strategic investors in Nexus. To finance the acquisition, Nexus plans to raise approximately 39.5 billion won through a third-party allotment capital increase, issuing 17,171,788 new shares. The allocation will be distributed primarily to SK Square, which will receive 70.5% of the shares, followed by Naver with 27% and Krafton with 2.4%.

In addition, Nexus will issue private unsecured convertible bonds worth approximately 21.2 billion won. The bonds will mature on June 26, 2031, and carry a maturity interest rate of 3%. Combined, the capital increase and bond issuance are expected to secure about 60.7 billion won, an amount nearly equal to the acquisition cost.

Vision for a Gaming-Centered Platform

Nexus plans to transform ONE Store from a conventional app marketplace into a comprehensive gaming-focused platform by integrating its existing global gaming infrastructure, including web shops, payment systems, community features, quest platforms, streamer services, and reward mechanisms.

The company intends to evolve ONE Store into a centralized game hub capable of serving both players and developers through a broader range of gaming-related services.

Blockchain-Powered Global Expansion

A key part of the strategy involves expanding ONE Store internationally through blockchain technology, with Nexus aiming to develop the global version of the platform into what it describes as the world’s first Web3 game store.

The envisioned ecosystem will support Web3-native experiences both inside and outside games. Planned features include digital wallets, stablecoin functionality, decentralized exchange services, staking mechanisms, and blockchain bridge capabilities. Nexus also aims to position the platform as a unified global development environment for Web3 game creators while helping accelerate growth across the broader blockchain gaming industry.

Rebranding Initiative Underway

To support platform unification, Nexus will rebrand its blockchain gaming mainnet CROSS as OneChain, while the native token CROSS will be renamed ONE.

Chief Executive Officer Jang Hyun-kook indicated that the company intends to provide enhanced experiences for gamers and stronger tools for developers. He also emphasized that the rapid technological transformation driven by artificial intelligence and blockchain technologies is creating new opportunities, and stated that Nexus will continue pursuing its objective of becoming the world’s leading gaming platform.

The post Nexus Acquires ONE Store to Build Global Web3 Gaming Hub appeared first on CoinTrust.