Nexon Korean Launches Blockchain Gaming Operations in the UAE

Nexon Korean Corp, an online game developer based in South Korea, unveiled its operations in the United Arab Emirates towards the end of last year.

According to a report by the Korean Economic Daily, Nexon launched its corporations in the UAE to boost the growth of its blockchain gaming industry in its target market in the Middle East. To achieve this mission, it set up two subsidiaries known as Nexon Universe Global and Nexpace.

Nexon Expands Gaming Operations in the UAE

The launch of the new corporations in the UAE is part of a strategy adopted by Nexon to boost the growth of its projects such as MapleStory N and Nexpace. Last year, Nexon announced the launch of the Nexpace blockchain gaming project while also adopting MapleStory as a key piece of this game.

The Nexpace gaming project leverages the robust intellectual property (IP) framework of Nexon. It also taps into MapleStory’s robust dynamics and non-fungible technology (NFT). Nexon appears to have big plans to expand the global presence of MapleStory in select countries in 2024, marking a major step in the company’s strategy to grow its portfolio in blockchain gaming.

Nexon is setting up subsidiaries in the UAE to help the company achieve its gaming plans in the region. This initiative shows that Nexon is working towards tapping the potential of blockchain technology in the gaming industry.

The Middle East has become a major hub for cryptocurrencies and Web3 games. Nexon is now working on increasing its footprint in this market and becoming a promising blockchain gaming destination.

Nexon’s Foray in the Blockchain Gaming Industry

Nexon is not a new player in the blockchain industry. Its foray into the sector started in 2021. At the time, the company allocated around 2% of its cash reserves towards buying Bitcoin. It purchased Bitcoin worth $100 million at the time.

Game publisher Nexon buys $100m worth of Bitcoin https://t.co/qE0t1tM6Pl

— unfolded. (@cryptounfolded) April 28, 2021

Nexon is among the largest gaming companies globally, but it has not shied away from advancing its presence in this market like some traditional gaming players. Last year, it announced creating a Web3 ecosystem for its massively multiplayer online game, MapleStory.

Through this initiative, players in the game could access in-game assets such as virtual pets, equipment, and outfits in the form of non-fungible tokens (NFTs). The game company planned to introduce blockchain gaming to the approximately 160,000 people who played MapleStory.

While announcing the MapleStory blockchain initiative, Nexon announced plans for more sustainable crypto games. The company noted that the concept of blockchain gaming was changing from players simply making money, to developers creating serious games by leveraging the potential of blockchain technology.

Last year, Nexon also announced it was working with multiple partners to move to Web3. It launched digital goods for MapleStory Universe on the Ethereum, scaling solution, Polygon. It also collaborated with Web3 firm Haechi Labs, which offers crypto auditing and wallet solutions. Integrating wallet solutions can give players a seamless experience, which helps drive adoption.