By A recent ongoing equity battle which involves a South Korean gaming company could result in Walt Disney Co. owning two of the world’s largest cryptocurrency exchanges.
As reported by a local news outlet in South Korean, Disney is currently one of the major bidders for a 98.6% stake in Nexon, which is one of the nation’s biggest game developers as well as the second-largest online games publisher on the planet.
Currently, Nexon is 47% owned by NXC with chairman Jung-ju Kim behind the sale of the shares. According to the report, there are several major entities currently interested in the stake. These include Tencent and Kakao. Both of these entities have reportedly announced pursuit of crypto-related initiatives of their own.
Disney, however, is reportedly first in line as Kim has allegedly personally reached out to the US company.
If this $13.2 billion deal were to happen, Disney will gain access to European exchange Bitstamp via NXC’s investment structure NXMH, which it acquired in late 2018 for almost $400 million.
According to sources, the NXC mogul has had a soft spot for Disney for years, hinting at the fact that this deal could become a reality.
He was quoted in 2015:
“What I envy the most about Disney is that they do not force money out of kids… (consumers) gladly pay Disney. Nexon has a long way to go. Some people hate Nexon to death.”
Of course, we all know that Disney itself has hardly any experience in the cryptocurrency industry except for their failed ICO project, DragonChain in 2017.
If Disney were to become the new owner of this acquired crypto portfolio, the track records of both platforms could ultimately prove to be appealing as the crypto market undergoes yet another rebirth.
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