Retro game MapleStory reinvents itself on blockchain
Can Nexon succeed in reviving play-to-earn sector with proven gaming franchise?
A promotional image for MapleStory Universe / Courtesy of Nexon
The beloved early 2000s game MapleStory has made a comeback by reinventing its ecosystem through blockchain technology. With countless Web3 games having fallen short of expectations and fading away, this new endeavor by game developer giant Nexon is drawing attention to whether it can succeed, industry officials said Sunday.
Nexon's subsidiary, NEXPACE, recently introduced a blockchain-based ecosystem called MapleStory Universe and launched its first blockchain game, MapleStory N.
Since Thursday, its core token, NXPC, has been traded on major exchanges including Binance, Bybit, Upbit and Bithumb. The simultaneous listing across these platforms underscores its status as a highly anticipated virtual asset. As of 3:40 p.m. Sunday, it was traded at $2.31 on Binance.
According to the project's white paper, NXPC is the key token used for in-game functions such as item crafting, NFT creation and player rewards. By implementing limits on NXPC issuance and supply, the system aims to mirror real-world economic principles.
MapleStory N is currently inaccessible in Korea due to regulatory restrictions on P2E (play-to-earn) games. Despite this, industry officials view Nexon's move into the blockchain space as significant, citing the company’s three-decade legacy at the forefront of the domestic gaming industry.
The timing of this release is also notable as P2E pioneer Wemade faces ongoing challenges.
In 2021, the company drew attention with the launch of Wemix, a digital asset designed to power its in-game economy. But a recent cybersecurity incident involving the platform cast a shadow over its blockchain ambitions, and the token is scheduled to be delisted from domestic cryptocurrency exchanges on June 2.
"Nexon’s NXPC project, unlike many existing P2E games, is built on a proven IP and solid gameplay foundation," an industry official said. "This makes it a model that can contribute to the actual development of a sustainable gaming ecosystem rather than fueling speculation. It could also help shift negative perceptions of P2E games and serve as a catalyst for opening dialogue with regulatory authorities."