On Thursday, September 21, the fast-growing tech company in South Korea NHN revealed plans to develop crypto games centered on the Sui network. News concerning the launching of the crypto games was shared by the NHN gaming unit.
The NHN report provides key insights concerning the key characteristics of the proposed crypto games. The tech firm plans to leverage the nonfungible token (NFT) features to develop digital board games.
NHN Ventures in Crypto Games
Speaking exclusively in an email statement, the head of business development at NHN, Jin Lee, stated that the company has been exploring ways to boost gamers’ experiences by improving the existing features on the blockchain network. The executive mentioned that NHN is building a distinctive reward system to allow the players to share critical information, including token rewards and NFTs, with each other.
Despite the bearish market structure, the NHN demonstrated a growing interest in building blockchain games for years. In the report, Lee described crypto games as a paradigm shift in the gaming sector.
After revisiting the significant changes in the gaming sector, the executive admitted that the industry had undergone numerous paradigm shifts in the past. He contended that the gaming industry had maintained a fast-paced growth momentum for decades.
Based on the diverse nature of the gaming industry, some significant milestones have been achieved in copy sales, console games, PC games, social games, and mobile games. More importantly, the NHN seeks to bring the best in the blockchain and game industry. This will be achieved by leveraging tokenomic technologies to add value to games and the in-game economies.
Paradigm Shifts in Crypto Gaming
Beyond this, NHN conducted extensive research to examine a suitable blockchain network supporting the proposed crypto game. The NHN team settled for the Sui network since it has massive potential to support in-game economies and NFT features in gaming.
Lee explained that the NHN intends to create the game on a layer 1 blockchain network. After assessing the features of other blockchain networks, Lee noted that Mysten Labs, the team behind Sui, has a clear understanding on NHN vision in gaming.
Commenting on this, Mysten Labs chief executive Evan Cheng praised the NHN for making significant steps to transform the gaming sector. The CEO vowed to support the NHN in developing the crypto games.
He explained that the ‘stickiness’ for users feature inspired the Mysten Labs team to collaborate with NHN. The stickiness feature is often used to assess user engagement with an application.
Cheng noted that the stickiness characteristic is lacking in the Web3 sector. The executive stated the fast-paced chains attracts around 300000 daily active users.
Factors Contributing to High Adoption of Crypto Games
The Mysten Labs boss pointed out that his team has been seeking ways to onboard more clientele to the Web3 sector. The CEO explained that Mysten Labs’ top priority was to create groundbreaking products that attract large audiences to Web3.
Remarkably, the NHN’s latest development positions the tech firm on heels with competitors in the gaming sector. While competition seems unperturbed, South Korean gaming companies have demonstrated a growing interest in blockchain games.
The report indicates that Krafton, Wemade, Com2us, Nexon, NCSoft, OneUniverse, and Neowiz are creating blockchain games to meet the growing demand for crypto games in Asia. The remarkable efforts made by the South Korean crypto companies seek to gain dominance in the vibrant gaming industry.
A study conducted by Pacific Meta validated the DappRadar report that demonstrated that 80% of the crypto game players will be from Asia.
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