The BORA ecosystem will shift to a joint consultative decision-making structure in which multiple game and content companies, including Kakao Games and LINE Games, discuss key business directions together.

The BORA team said on Tuesday that the shareholder of MetaBora Games, the operator of the BORA ecosystem and the token-issuing entity, will change from MetaBora to Ludicnova Holdings.

Ludicnova Holdings is a corporation established to acquire and operate BORA-related businesses and to connect participating companies' game content and related businesses to the BORA ecosystem. A total of 4 to 6 companies, including Kakao Games and LINE Games, are set to participate. It also plans to secure additional partners that can cooperate with the BORA ecosystem.

The key to the shareholder change is the introduction of a joint decision-making system in which various game and content companies discuss the BORA ecosystem's direction and key businesses together.

Under the new structure, BORA will pursue expanded cooperation with game and content companies, increased use of the BORA token, links between new games and services and the ecosystem, and stronger global strategic partnerships.

It plans in particular to expand Web3 business cooperation by linking participating companies' game content and related services to the BORA ecosystem. It also plans to increase the number of games and services that can use the BORA token.

The shareholder change will not affect existing BORA tokens. Holders do not need to exchange their tokens for other tokens or carry out a separate swap, and existing tokenomics, including token issuance volume and circulation structure, will be maintained.

The existing business direction of building a Web3 ecosystem centred on games and content will also continue. The change is focused on expanding the BORA ecosystem by adding participating companies' content and business capabilities, rather than changing the business direction.

"Ludicnova" is a name combining "Ludic," meaning play and games, and "Nova," meaning a new star. Participating companies plan to jointly explore new Web3 business opportunities in the BORA ecosystem by using their content and business capabilities.

The BORA team plans to sequentially disclose additional participating companies and strategic partnerships, plans for using the BORA token, and new projects and a future roadmap.