March 27, 2024
South Korean Tech Giant NHN Ventures into Crypto Gaming with Sui Blockchain
Latest Cryptocurrency News

South Korean Tech Giant NHN Ventures into Crypto Gaming with Sui Blockchain

The gaming section of South Korean internet company NHN revealed on Thursday that it is creating cryptocurrency games and will use the Sui blockchain.

NHN has previously created mobile games like Crusader’s Quest and Guns Up! Mobile War Strategy as well as social casino games like Hangame Poker. According to a statement from the company, more than 37 million people have played its games overall.

The company now intends to create digital board games that make use of NFTs.

NHN’s Head of Business Development, Jine Lee, stated that the company is actively investigating ways that players might transmit products to one another as NFTs, as well as the prospect of crypto token prizes, even though the company has not yet decided exactly how it would include NFTs or crypto tokens in subsequent games.

When NHN was asked why it was creating blockchain games, Lee responded that it was a “paradigm shift.”

“The existing game industry has gone through several new paradigm shifts, from the era of game copy sales to PC games, console games, and social games—or from feature phone games to smartphone games,” Lee explained.

“We want to create the best case in blockchain and games by combining the value created by the contents of games and the economy of in-game currency with tokenomics,” Lee further added.

Lee claimed that NHN selected Sui since it wanted to build atop a layer-1 blockchain and because Mysten Labs, the primary creator of Sui, immediately grasped NHN’s long-term goal for crypto gaming. NHN plans to employ Sui for its next NFT and crypto games.

“What excites me about building with NHN is what we’re beginning to refer to as ‘stickiness’ for users,” stated Mysten Labs CEO and co-founder Evan Cheng in a statement.

“It’s a code that Web3, as a whole, has not managed to crack, with daily active users on the most popular chains barely topping 300K,” Cheng further added. “At Mysten Labs, our mission is to bring the benefits of Web3 to the masses, by the billions. Creating products that attract user volume is our utmost priority.”

NHN joins the expanding list of South Korean game studios using blockchain technology to power their games, including Krafton, Com2us, Wemade, Nexon, Neowiz, NCSoft, and OneUniverse.

According to a DappRadar and Pacific Meta report released earlier this year, Asia as a whole is expected to eventually account for 80% of the crypto gaming player population, in contrast to Western game companies.


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