Korean games
NCSOFT invests $15 million in blockchain company Mysten Labs
The Korean game developer is expected to apply blockchain tech for advancing to Western markets
By Nov 09, 2022 (Gmt+09:00)
1
Min read
Most Read
S.Korea's LS Materials set to boost earnings ahead of IPO process
![close](/images/ico/eyes/close.png)
![open](/images/ico/eyes/open.png)
Galaxy Ring, new foldables set to steal the show at Samsung Unpacked Paris
![close](/images/ico/eyes/close.png)
![open](/images/ico/eyes/open.png)
POSCO gears up for carbon-free steelmaking with hydrogen
![close](/images/ico/eyes/close.png)
![open](/images/ico/eyes/open.png)
SK Inc. in talks to sell Pharmteco’s US CDMO plant to Novo Nordisk
![close](/images/ico/eyes/close.png)
![open](/images/ico/eyes/open.png)
South Korea sets sights on fostering EDA tech to win HBM chip war
![close](/images/ico/eyes/close.png)
![open](/images/ico/eyes/open.png)
![NCSOFT headquarters building in Pangyo Techno Valley](https://www.kedglobal.com/data/ked/image/2022/11/09/ked202211090017.700x.0.jpg)
NCSOFT Corp., which announced early this year plans to install non-fungible token (NFT) technology in the global version of its online role-playing game Lineage W, has made a strategic investment in the Palo Alto, California-based blockchain company Mysten Labs.
Mysten Labs on Wednesday said NCSOFT plunked down $15 million in a Series B investment round worth $300 million to form a strategic partnership.
Co-founded last year by its CEO and former Meta (Facebook) executive Evan Cheng, Mysten Labs is a blockchain company known for its Layer 1 blockchain Sui.
Mysten Labs last year made headlines in Korea after securing an investment of $36 million from Samsung Next Ventures, a venture company affiliate of Samsung Electronics, in a Series A financing round.
Early this year, NCSOFT announced in a report on its 2021 fourth-quarter performance plans to launch in Western markets its flagship game Lineage W with blockchain technology, including NFT.
NCSOFT Chief Strategy Officer Yoon Song-yee said, "Blockchain technology holds the potential to produce creative and innovative player experiences," adding, "I consider our newly formed partnership with Mysten Labs, which shares the vision of creating a platform for a player-centric economy, highly meaningful."
Write to Seung-Woo Lee at leeswoo@hankyung.com
More to Read
-
Artificial intelligenceNCSOFT publishes three AI academic papers at INTERSPEECH 2022
Sep 19, 2022 (Gmt+09:00)
1 Min read -
Korean gamesNCSOFT delays key game launches, darkening H2 outlook
Aug 12, 2022 (Gmt+09:00)
2 Min read -
Comment 0
LOG IN