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South Korea’s Largest Mobile Game Company Launches Metaverse Game

South Korea's Largest Mobile Game Company Launches Metaverse Game

  • Mobile gaming giant Netmarble wants to develop a metaverse similar to its existing board game “Everybody’s Marble”
  • The move is part of the company’s push towards the nascent virtual medium, as it plans to add blockchain capabilities to some of its existing titles.

South Korea’s largest mobile game developer, Netmarble, plans to release games for the metaverse after its new development unit was established last year.

According to a report from Herald of Korea Last week. The new game is part of the company’s broader pivot into the virtual world.

Metaverse Entertainment – Netmarble’s metaverse development arm – was created in August last year as part of the company’s efforts to explore opportunities within the new virtual medium.

Netmarble’s Metaverse game will feature all the trimmings that gaming enthusiasts expect from a virtual world-based title, including NFTs and digital avatars, as well as the ability to buy and sell virtual land.

The international version is expected to be set up on a “play to win” model, allowing users to earn virtual currency for real money, according to the report. Play-to-earn games are currently banned in South Korea and as such the domestic version of Netmarble will only feature NFTs.

“We plan to develop metaverse games that allow users, individuals or businesses, to acquire virtual assets that can be exchanged for real assets such as currencies through blockchain technology,” said Netmarble Chairman Bang Jun. -hyuk, quoted in the report.

Bang also added that Netmarble plans to follow through on Metaverse Entertainment’s brainchild of introducing consumers to its metahuman virtual female idols later this year.

Netmarble is South Korea’s largest mobile game company by total revenue and recorded approximately KRW 607 billion ($506.2 million) for Q3 2021. The company has produced iconic mobile game titles, including MARVEL Future Revolution and Lineage 2: Revolution, with downloads reaching hundreds of millions.

The company also plans to leverage its dominance overseas, where it derives 70% of its revenue.

“With the new CEO of Netmarble’s global business, Lee Seung-won, the company plans to target the Western market, particularly by addressing local user needs and acquiring local game studios,” Bang said.


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  • Sebastien Sinclair

    blockages

    Senior Reporter, Asia News Desk

    Sebastian Sinclair is a senior reporter for Blockworks operating in Southeast Asia. He has experience covering the crypto market as well as some developments affecting the industry including regulation, business, and mergers and acquisitions. It does not currently hold any cryptocurrency. Contact Sébastien by e-mail at [email protected]