[THE INVESTOR] Korean gamemaker Neptune and Dunamu & Partners, the investment arm of cryptocurrency exchange Upbeat operator Dunamu, announced on July 19 an investment in blockchain-based game developer Memory.

Netune and Dunamu Partners each invested 500 million won (US$440,817) through convertible preferred shares in the three-year-old company behind mobile game “Battle Cats Rangers.” 

“Memory is planning to introduce a crypto game which combines popular copyrighted characters and games. While combining a game and popular characters is a proven way (for success), the game will contribute to popularization of crypto games,” a Neptune official said.

Dunamu Partners announced in March a plan to invest 100 billion won in the blockchain industry over next three years.

Neptune and Dunamu Partners set up a mutual investment fund in April and made their first investment in Nabu Studio which develops blockchain-based fantasy sports games in May.

By Park Ga-young (gypark@heraldcorp.com)