South Korean video game developer and publisher NCSoft has joined the bandwagon of gaming developers who are diving into emerging blockchain technology and NFTs.
In a recent announcement during a Q3 earnings call on November 11, the company revealed its plans to launch its non-fungible token games in Q2 2022, which will allow players to play-to-earn.
During the call, the Chief Financial of NCSoft, Hong Won Jun, said that the NFT-based games will be in the form of massively multiplayer online role-playing games (MMORPG).
“We are also considering applying the play-to-earn game model to all games developed and distributed by NCSoft, he said.
In the last 24 hours, bitcoin has been down by 1.52%, with a current price of $63,850.85 as of the time of writing this. Within 24 hours, bitcoin dropped to $63,314.58 low and $65,468.80 high. The trading volume of bitcoin in the last 24 hours is $1.13B. The current market capitalization of bitcoin is $1.20T. Currently, $18.87M bitcoins are in circulation.
Stats and Image from Coin Desk
NCSoft stock price responded positively to the new news as it spiked by 30%, from 592,000 Korean won ($501.57) to 786,000 Korean won ($665.94) on Thursday.
Before now, game players only spend to enjoy their games. However, blockchain technology and NFTs are changing the narrations with the play-to-gain model, allowing players to own a stake in games and earn tokens that can be converted to liquid cash.