South Korean gaming firm NHN has entered into a partnership with Mysten Labs to build and launch crypto games using the Sui blockchain. This collaboration adds NHN to the list of South Korean brands, such as Krafton, Nexon, and Com2us, that are exploring the realms of crypto games.
Mysten Labs, founded by four former Facebook engineers in September 2021, is a crypto and blockchain infrastructure technology company. The company’s focus is on building the foundations for the decentralized future and accelerating the adoption of Web3. It is currently working on building a proof-of-stake blockchain called Sui and an open-source programming language called Move.
With a valuation of $2 billion and $300 million in funding, Mysten Labs has garnered support from prominent backers such as Andreessen Horowitz, Binance Labs, Coinbase Ventures, and Samsung Next. Sui blockchain is known for its scalability and robust infrastructure, making it suitable for various blockchain-based projects, including decentralized finance applications and gaming platforms.
NHN, a South Korean conglomerate that operates Naver, the country’s first web portal and search engine, is now venturing into the realm of blockchain gaming. NHN has a strong presence in the gaming industry with successful titles like Hangame Poker, Crusader’s Quest, and Guns Up. Now, the company plans to focus on digital board games with a strong emphasis on Non-Fungible Tokens (NFTs).
One of the reasons NHN chose Sui blockchain is its compatibility with layer-1 blockchain solutions, allowing for easy scalability. According to Jin Lee, NHN’s Head of Business Development, the company is actively exploring ways to integrate NFTs and crypto tokens into their games, with a particular focus on features like NFT item trading and crypto token rewards. NHN sees crypto-powered games as a major shift in the gaming industry and aims to leverage blockchain and tokenomics for an innovative gaming experience.
The partnership between NHN and Mysten Labs is expected to attract more users into the Web3 space and make the benefits of Web3 accessible to billions of users worldwide. As the continent of Asia becomes a more attractive spot for the crypto industry, with various Web3 events hosted in countries like South Korea, Japan, and China, this collaboration between NHN and Mysten Labs signifies the growing interest and potential for blockchain gaming in the region.
In conclusion, NHN’s partnership with Mysten Labs to build and launch crypto games using the Sui blockchain highlights the company’s venture into blockchain gaming. With the compatibility and scalability of Sui blockchain and NHN’s prominence in the gaming industry, this collaboration has the potential to bring about innovative and immersive gaming experiences for users worldwide.