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Netmarble will introduce a string of blockchain-based games including Second Country: Cross Worlds
South Korea’s game developers are in a tight race to create their own digital tokens and to build viable ecosystems that utilize the cryptocurrencies. In line with the goal, the game companies are determined to push ahead with releasing blockchain-based products.
ISSUANCE SPREE Neowiz Holdings Corp. announced its plans for a full-fledged launch of its token business. The holding company’s blockchain subsidiary Neoply made the announcement Thursday, during the launch of its blockchain platform Neopin’s mobile app that provides DeFi services. Neowiz will not only offer interest on cryptocurrencies deposited into a Neopin account but also its own digital asset dubbed Neopin Token (NPT.) The token was first issued in Dec. 2021. Come next month, the South Korean game developer will release a P2E game that utilizes NPT and in the second quarter, non-fungible token (NFT) services.South Korea's largest mobile gaming company Netmarble Corp. has also been gearing up for a proper entry into the cryptocurrency market. The word on the street is that it will release a Klaytn-based token in the first half of this year. Klayton is tech giant Kakao Corp.’s global public blockchain project. There is already an existing token under the Netmarble umbrella.The gaming giant’s subsidiary Netmarble F&C, Inc. recently acquired ITAM Games, whose P2E (play-to-earn) gaming ecosystem is operated by the company’s namesake token called ITAM Cube. P2E games are an emerging gaming sector where players can earn profits in various ways through gameplay using blockchain technology.Netmarble will introduce a string of blockchain-based games, starting with A3: STILL ALIVE’s global version next month, followed by Golden Bros, Second Country: Cross Worlds, and more. STILL ALIVE is a survival battle royale MMORPG, an online role-playing video game in which a large number of users can simultaneously play. WeMade Co. leads the country’s blockchain-based gaming business with its cryptocurrency dubbed WeMix. The company plans to bump up the number of its games using WeMix to at least 100. Since the beginning of 2022, the game developer has been working with several other companies in the industry, like Mgame and Storm Games, to assist with the adoption of the WeMix token on their platforms. Com2uS will also enable C2X adoption on about a dozen of its own games RESERVE TOKENCom2uS Holdings Corp. and its subsidiary Com2uS Corp. will issue their digital currency C2X in the first half of this year.Just like WeMade, Com2uS has also worked on securing industry partners to expand the token’s usage. Most recently, the Kosdaq-listed company joined hands with NTrance Corp. to publish a blockchain version of the latter’s existing mobile game dubbed DK Mobile. Com2uS will also enable C2X adoption on about a dozen of its own games, including the Summoners War: Chronicles.The common goal among the game developers is to construct the companies’ respective digital token ecosystem. To meet that objective, the developers are focusing their efforts on pushing out blockchain-based products that use digital currency.A company’s market share in the blockchain game industry grows with the number of its token holders. The more the users are exposed to the opportunity to own and use the particular token, the better for the issuing company.“The rising demand for a specific token pushes up its coin price, creating a positive cycle,” an industry expert told The Korea Economic Daily. The cycle does not end there. Higher token price also translates to increased corporate value and the popularity of games that use the digital assets. The token issuers will also enjoy earning the transaction fees through the NFT exchanges. In the case of WeMade, it enlarged the company size by unloading some of its tokens to players.Industry insiders are hopeful that the token that dominates the gaming industry will later develop into a widely accepted form of payment – in the likes of credit card or mobile payment services.By Joo-Wan Kimkjwan@hankyung.comJee Abbey Lee edited this article.
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