The shareholders of developer South Korean games NCSoft saw its share price shoot 30% on Thursday (11) after the company announced its plans to launch games based on blockchain with non – fungible tokens (NFTs) and rewards criptomoedas .
According to The Block , who broke the news himself was Chief Financial Officer Won-jun, for an eve nto online institution that was accompanied by the news team.
NCSoft shares (036570.KS) on the South Korean stock exchange (Korea Stock Exchange) are trading this Thursday afternoon for ₩786,000 (South Korean won; about $666).
The appreciation is 29.92%, ie, ₩181 thousand more than the day before, when it was traded at ₩592 thousand, according to data from Yahoo Finance . Despite the valuation, the shares are still with 20% of losses in the year, emphasizes the report.
NFTs and cryptocurrencies
According to Hong, described The Block, NFT game titles are being planned for online multiplayer role-playing mode, with a release date scheduled for the second quarter of 2022. NCSoft plans to create its own tokens to reward players, highlights the site.
The company's new venture does not stop there, according to Hong, who said plans to extend blockchain technology to all games developed and distributed by NCSoft. The developer is responsible for game series such as Lineage, Guild Wars and Blade & Soul.
Hung added that the emerging NFT gaming space will provide an opportunity for the company to grow new business and $13 billion in revenue.
According to the report, the company's interest in blockchain-based games increased after its coffers lost $3.7 billion in market value between August and September this year after one of its games failed.
Game mode with growing NFTs
NFT games have gained popularity around the world since the success of Axie Infinity, a game released in 2018, but which only won the world this year.
This market surge is evidenced by the growing volume of venture capital support for NFT-based startups, commented The Block.
The post South Korean game company announces entry into blockchain game market and stocks soar first appeared on Bitcoin Portal .