Solana Hits $262 ATH Amid $35M Whale Buys—Could $5,000 Be Next? 
Albanese government gives firm ‘no’ to joining UK-US agreement to advance nuclear technology 
Crypto Rules Shakeup: Trump-Tied SEC Candidate Hints at Clearer Path After Gensler’s Sudden Exit 
Senator Lummis Pushes for 1M BTC in US Reserve to Slash Debt, Preserve Dollar Dominance 
Companies won’t survive in a nature-depleted world – I’ve met the business owners who are taking action 
Bitcoin Soars Past $98,000, Catapults Satoshi Nakamoto Into World's Top 20 Billionaires 
Ether Price Rises Despite $1.3B Whale Sell-Off, Targets $3,700 Breakout 
What’s Driving Charles Schwab Toward Spot Crypto Trading? Trump’s Regulatory Shift and $100K Bitcoin Answer 
Texas Considers Bitcoin Reserve Legislation Amid Push for US Crypto Mining Security 
The government has introduced laws for its social media ban. But key details are still missing 
How to Effectively Utilize an Emergency Line of Credit 
Shiba Inu Supply Shrinks as Burn Rate Hits 2225%; Meme Coin Bulls Brace for Next Rally 
Apple Fights Back Against DOJ Monopoly Allegations Amid Rising Big Tech Antitrust Pressure 
Google Faces DOJ Pressure to Sell Chrome, Android, and AI Stakes to Fix Search Monopoly 
$18 XRP Prediction Gains Traction as Wave 3 Builds Toward $5 Surge Before 2024 
S&P 500 Climbs on Cyclical Stocks as Nvidia and Alphabet Diverge Amid Fed Speculation 
Naver Corp. launched its closed beta service for video streaming, CHZZK. With this, the company officially joined the game streaming scene in South Korea.
Naver's entrance into game streaming is perfect timing as the US-based interactive live-streaming service Twitch just withdrew from the country. Its exit created a big opening for CHZZK since this is the other option when users switch to services.
Naver to Go After YouTube and AfreecaTV
Naver said on Wednesday, Nov. 6, that it introduced its video streaming service to take over the growing gaming and live streaming market. It added that this move is part of its strategy to bring more people to the platform.
According to The Korea Times, as Twitch suddenly announced its plan to leave the Korean market, it will make Naver's CHZZK the new direct competitor of YouTube and AfreecaTV. With Twitch now out of the picture, Naver will focus on its new rival platforms and will work on building up its presence.
Twitch explained it decided to end its services in the country due to the increased cost of operations. It will officially cease its operations on Feb. 27, 2024.
CHZZK's Streaming Service Beta Run and Launch
Naver will test its game streaming feature for four days by broadcasting a game tournament featuring "League of Legends" and "StarCraft" matches. This will be viewed by 380 company employees who will also participate as players. This test run will end on Dec. 8.
"We are conducting a closed beta test targeting our employees for our game streaming service from Tuesday," the company's spokesperson said in a statement. "Streaming services are an aspect of strengthening community functions. We also view this streaming service as a community feature. To provide a quality streaming service, we have already secured various video-related technologies."
Korea Joongang Daily reported that Naver will release the open beta version of CHZZK on Dec. 19 and scheduled the public launch in 2024. With the new platform's user-friendly interface and tailored game broadcasting for users, it is expected to attract gamers immediately.
"If Naver can attract local Twitch streamers and attain user traffic, Chzzk's market value is expected to go over 1 trillion won," Kim Ha Jeong, a Daol Investment & Securities analyst, said. "The new platform is also expected to spill over to Naver's earnings as the service expands by integrating Naver's other businesses in advertising and commerce, as well as its online communities."
Photo by: Naver Corp Press Room
