South Korea’s Nexon has opened a blockchain game corporation in the United Arab Emirates to grow and solidify its blockchain ambitions in the Middle East.
As reported by the Korea Economic Daily, the online games publisher formed two subsidiaries last year, Nexon Universe Global and Nexpace in the UAE, as part of its broader strategy to advance projects like MapleStory N through expanded initiatives.
Blockchain potential
Nexpace is set to play a pivotal in Nexon’s expansion efforts as it will incorporate the company’s MapleStory IP with NFT technology. It plans to launch of MapleStory N in specific regions later this year.
Establishing subsidiaries in the UAE highlights Nexon’s dedication to leveraging the potential of blockchain technology in the games sector, especially with the Middle East now emerging as a promising market for such advancements.
Nexon is no stranger to the blockchain space. In 2021 the company spent approximately 2% of its cash reserves buying $100 million-worth of Bitcoin.
Last year it announced that it would be developing a blockchain-powered ecosystem for its flagship IP, Maplestory, which the new UAE subsidiaries will now help support.
