Gaming giant Nexon launches token via blockchain subsidiary

Nexon’s blockchain arm has launched a new token to increase 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 in an effort to increase user engagement and spur ecosystem growth in its web3 game MapleStory Universe.

NEXPACE announced on Medium on August 27 that the NXPC token is designed to allow players and community members to directly contribute to the creation of in-game content, 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 features non-fungible tokens at its core. The company said the NXPC token is expected to allow contributors to interact with in-game elements, encouraging “the natural flow of community-driven growth.” While specific details were not disclosed, the token is expected to be based on the Avalanche blockchain in line with the game itself.

NEXPACE says the token will allow contributors to interact with in-game elements within the game, encouraging a “natural flow of community-driven growth.” The token is expected to be based on the Avalanche blockchain, like the game itself, though the company didn’t specify.

This isn’t Nexon’s first foray into the crypto space, but it represents the company’s dedicated efforts focused on the blockchain sector. The company previously purchased more than 1,700 (BTC) for around $100 million. At the time, Nexon CEO Owen Mahoney said the purchase “reflects a disciplined strategy to preserve shareholder value and maintain the purchasing power of our cash assets.”