Gaming giant Nexon launches token via blockchain subsidiary

Nexon’s blockchain arm has launched a new token to boost user engagement and ecosystem growth in its web3 game.

South Korean video game developer Nexon’s blockchain subsidiary NEXPACE has announced the launch of its own cryptocurrency to enhance user participation and drive ecosystem growth within its web3 game called MapleStory Universe.

In a Medium announcement on Aug. 27, NEXPACE said the so-called NXPC token is designed to allow players and community members to contribute directly to in-game content creation, a role traditionally reserved for game developers.

MapleStory Universe, a web3 spin-off of Nexon’s 2003 2D online game MapleStory, is built on the Avalanche blockchain and incorporates non-fungible tokens at its core. The NXPC token is expected to allow contributors to interact with in-game items, promoting a “natural flow of community-driven growth,” the company said. While specific details were not disclosed, it is expected that the token will also be based on the Avalanche blockchain, in line with the game itself.

NEXPACE says the token would allow contributors to interact with in-game items within the game, promoting a “natural flow of community-driven growth.” While the company did not specify, it is supposed that the token would be based on the Avalanche blockchain just like the game itself.

This isn’t Nexon’s first foray into the world of cryptocurrency, though it represents the company’s dedicated efforts focused on the blockchain sector. The company previously purchased over 1,700 (BTC) for approximately $100 million. At the time, Nexon chief executive Owen Mahoney said the purchase “reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets.”