[Advisory] Veat F&C acquired a legal advisory service including conducting legal due diligence specializing in blockchain and virtual assets in the process of Itum Games' acquisition.

Law firm Veat undertook legal due diligence on the blockchain and virtual asset business of the target company in the M&A transaction where Netmarble F&C commissioned them to acquire Itum Games, and provided legal counsel for the drafting and review of the acquisition agreement, among other legal services.

The legal due diligence performed by Law firm Veat in this M&A transaction, specifically concerning the target company’s blockchain and virtual asset business, is significant because it differed from the standard legal due diligence performed in M&A transactions, focusing on a deep dive into blockchain and virtual currency businesses.

Blockchain and virtual asset legal due diligence typically includes legal due diligence on areas such as the following.

• Review of the securities nature and legal compliance of tokens or NFTs issued by the target company, and legal compliance of virtual asset-based projects.
• Review of the legal compliance of NFT issuance and liquidity platforms.
• Review of the legality of various types of DeFi (DeFi) projects and their operations (DEX operation, liquidity provision, staking, etc.).

Law firm Veat has been performing various blockchain and virtual currency-related legal services since 2017, and is working together with the growth of leading domestic and international blockchain business leaders. In particular, based on accumulated experience and expertise, it provides assistance with blockchain and virtual asset legal due diligence, drafting customized M&A contracts for blockchain companies, and more. Law firm Veat will provide the most reasonable solutions to all those who need legal advice on blockchain and virtual currency.

Thank you.