The renowned South Korean gaming company Nexon has revealed the new establishment of Nexon Universe Global and Nexpace subsidiaries in the United Arab Emirates (UAE). Also, this venture aims to expand the company's presence in the blockchain space, especially with its MapleStory franchise.

The two subsidiaries were formed last year to boost projects like MapleStory N. Moreover, Nexpace intends to integrate MapleStory IP with Non-Fungible tokens (NFTs). Now, the company is looking to expand MapleStory in particular regions this year.

Nexon has been actively exploring ventures in the blockchain space. The company allocated around 2% of its cash reserves to purchase $100 million worth of Bitcoin, showing its interest in the domain. It also showed interest in developing a blockchain-powered ecosystem for its MapleStory IP.

Furthermore, with its presence in the UAE, Nexon is looking to stiffen its position in the blockchain-powered gaming space and cater to the growing demands. It will allow the company to explore opportunities for its IPs and become a leader in integrating blockchain into gaming.

MapleStory Regenerated on Avalanche

MapleStory is a core IP of Nexon Group and has been in the game for the past 20 years. Now, a web3-enhanced extension of it is being regenerated on Avalanche. Angela Son, MapleStory Universe’s Partnership Lead, said, “Our partnership with Ava Labs will allow us to build a stable and complete blockchain ecosystem, enabling us to securely service various dApps along with MapleStory N to amplify our competitiveness.”

Not to mention, MapleStory M, Nexon’s MMORPG, has achieved remarkable success since October 2016 and has crossed $600 million in sales now. It has also crossed $55 million in just 35 days after entering the Chinese market. The company also made a recent $100 million investment to expand its game in Web3 IP. 

The MapleStory Universe on Avalanche will offer new user-generated content possibilities where players can build the Web3 version of MapleStory and can be rewarded for it. The incorporation of Avalanche will expand its universe, allowing them to extend the gameplay to new worlds.