According to reports, the globally influential Chinese technology and holding company Tencent is exploring the possibility of acquiring the game developer and publisher Nexon.
According to Bloomberg, representatives from Tencent have contacted the family of Nexon founder Kim Jung-ju to discuss the potential deal, but no specific terms have been reached yet, and the transaction is not a done deal.
Nexon is a South Korean video game developer known for the MapleStory series, a massively multiplayer online role-playing game (MMORPG) that gained popularity as a traditional PC game in the early 2000s.
Web3 games continue to attract attention as an important application scenario for blockchain technology, as the ability to grant players ownership of in-game assets could create a whole new asset class and bring in billions of dollars in capital.
Nexon plans to integrate blockchain technology into two different titles in the series, MapleStory N and MapleStory Universe, in May 2025, allowing users to collect in-game items and rewards in the form of non-fungible tokens (NFTs).
According to a report released by DappRadar in February 2025, blockchain gaming activity grew by approximately 368% year-on-year in January 2025, largely driven by games like Off The Grid and the then-upcoming MapleStory N.
Off The Grid is a AAA shooter published by Gunzilla Games, featuring console-level graphics and gameplay experiences similar to traditional blockbuster video games produced by large game studios.
This stands in stark contrast to traditional Web3 games, which typically feature simple game mechanics, cartoon-style graphics, and focus more on player rewards rather than rich gaming experiences.
Despite a surge in player interest starting at the end of 2024, data from DappRadar shows that Web3 gaming activity declined by 10%, reflected in the decrease in the number of daily active unique wallets.
While the crypto gaming sector remains healthy, and games like MapleStory and Off The Grid reflect a trend towards high-quality games that emphasize player experience, Web3 games still face numerous challenges.
The main barriers to the widespread adoption of Web3 games include the technical hurdles of setting up blockchain wallets and the traditional gaming community's resistance to "play-to-earn" games and other strategies aimed at merging gaming with money.
Related: Ant International, owned by Jack Ma, targets stablecoin licenses in Singapore and Hong Kong.
Original article: “Tencent Explores Acquisition of MapleStory Developer Nexon”
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