In Brief:
- Nexus rebranded its CROSS gaming chain as OneChain and the $CROSS token as $ONE, keeping the same network, team and token under a single name.
- The name follows Nexus‘s roughly 62.6 billion won, about $40.74 million, purchase of an 89.03% stake in One Store, the Korean app marketplace installed on more than 38 million devices.
- One Store joined the network July 15 as its third validator and becomes the storefront Nexus wants to build into a global Web3 game store.
CROSS is ONE.
Nexus renamed its gaming chain and native token, folding both under the One Store brand it bought in June. The CROSS mainnet becomes OneChain and the $CROSS token becomes $ONE. “Today, CROSS becomes ONE,” the project said. “Same chain, same token, same team — one name.”
Today, CROSS becomes ONE.
Same chain, same token, same team — one name. Everything the CROSS chain carried, ONE now carries forward: the chain that settles it, the token that powers it. And the store already living on 38M+ phones becomes the front door that brings all of them@CROSSView on X ↗
There’s no migration and no new asset. The chain, the validators and the token supply carry over intact. What changes is the front door. “The store already living on 38M+ phones becomes the front door that brings all of them,” the project said.
The One Store deal
Nexus announced June 18 that its board approved buying 20,247,990 One Store shares, an 89.03% stake, for about 62.6 billion won, or roughly $40.74 million. It closed the purchase June 29.
The sellers were SK Square, at 45.78%, Naver at 24.06%, Steel Number One at 17.02% and Krafton at 2.17%. SK Square, Naver and Krafton stay on as strategic investors in Nexus.
To fund the deal, Nexus is raising about 39.5 billion won through a third-party share allotment of 17,171,788 new shares, with SK Square taking 70.5%, Naver 27% and Krafton 2.4%. It’s also issuing about 21.2 billion won in private unsecured convertible bonds that mature June 26, 2031 at 3% interest. Together the two cover about 60.7 billion won, close to the purchase price.
What ONE inherits
One Store launched in 2016, built by SK Telecom, KT and LG Uplus with Naver as a domestic answer to Google and Apple. It’s installed on more than 38 million devices in Korea.
The marketplace already sits inside the network it may rename. On July 15, One Store signed on as CROSS Protocol's third validator, joining H Lab and CertiK, and now handles block production, transaction validation and network security on CROSS Mainnet 2.0.
CROSS is an EVM-compatible Layer 1 running Proof-of-Staked-Authority consensus. It has shipped Mainnet 2.0 and holds nearly 2 million accounts. The ONE branding is already in use elsewhere. Since July 9, the chain’s Gametoken DEX has quoted and settled every pair in ONEUSD, which it calls the ecosystem dollar.
From app store to game store
Nexus plans to fold its web shop, payments, community, quest, streamer and reward platforms into One Store and turn the global version into what it describes as the world’s first Web3 game store. Planned additions include wallets, stablecoin functionality, a DEX, staking and bridging. The company has also floated an “AI-native game platform” that would analyze and curate AI-generated games in real time.
Running it is Henry Chang, Nexus’s founder and CEO, who previously led WEMADE and built its Wemix blockchain.
“We will deliver a more enjoyable experience to players and a more powerful solution to game developers,” Chang said. “As we meet the paradigm shift driven by AI and blockchain, we will push forward relentlessly until we achieve our vision of becoming the world’s No. 1 game platform.”
