DRAGONFLY GF CO., LTD. creates a joint venture with RUSH Coin Foundation for blockchain P2E (PlaytoEarn) game services

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SEOUL, South Korea, Dec. 8, 2021 /PRNewswire/ -- DRAGONFLY GF CO., LTD. (CEO Jaesik Kim, KOSDAQ: 030350) announced on the 16^th that it has established a subsidiary company—DF Chain, and finished registration to provide blockchain P2E (Play to Earn) game services.

The new subsidiary, DF Chain, is a joint venture (joint corporation) created by "Gamechain CO., LTD." a corporation run by RUSH Coin Foundation and DRAGONFLY GF CO., LTD.

RUSH Coin Foundation runs "Gamechain CO., LTD." and is the issuer of RUSH Coin based in Hong Kong.

RUSH Coin is listed on Crypto Exchanges "Coinone," "Bit Global," and "FOBLGATE."

DRAGONFLY GF CO., LTD. expects to create an overall ecosystem of P2E ranging from issuing of NFTs (Non-fungible Tokens), coin deposit and withdrawal, supply and demand adjustment, NFT purchase and transaction in accordance with the influx of new members through the subsidiary company DF Chain.

P2E refers to gaming with the objective of turning a profit. Users can make a profit by getting a general token or NFT, which can then be converted into cash or NFT and sold at a higher price. P2E is rapidly gaining popularity in the Southeast Asian and global markets as other economic activities have declined due to the Covid-19 pandemic.

DRAGONFLY is preparing for the relaunch of "Special force IP," the immensely popular game in the Philippines, where the P2E market is exceptionally robust.  

DRAGONFLY also has a strong lineup of games, content, developing know-how and global user pool in addition to "Special force IP."

Applying DRAGONFLY's blockchain technology and P2E services to all games would lead to services based on a platform like "Steam" with players using cryptocurrencies such as Ethereum in addition to Rush Coin.

Jaesik Kim, CEO of Dragonfly said, "A paradigm shift is underway in the gaming industry from P2W (Play to Win), where users need to spend money in order to win, to P2E (Play to Earn), where users can make money with the unique value of game items.

Dragonfly is ideally positioned for the overall P2E ecosystem and would lead not only the P2E gaming market but also the platform by applying the P2E system to FPS games for the first time."

SOURCE DRAGONFLY; RUSH Coin Foundation