이 기사는 2022년 02월 03일 08:22 thebell 에 표출된 기사입니다.

South Korea’s leading mobile game developer and publisher Netmarble is gearing up to enter the pay-to-earn (P2E) games market, introducing more than 20 new titles with more than 70% of them based on blockchain technology.

“A blockchain-based game is an opportunity for the third leap forward (for gaming companies) after online and mobile (games),” said Bang Jun-hyuk, Netmarble founder and chairman, at its annual press event called Netmarble Together with Press. He said about 70% of the gaming firm’s 20 new titles will be blockchain-based games.

Six of Netmarble’s 20 new titles will be blockchain-based games, including the international version of A3: Still Alive, Golden Bros, and Everyone’s Marble – Metaworld.

The Korean gaming firm will pursue a two-track strategy in its blockchain business.
Netmarble will continue to focus on game development and distribution while combining the blockchain technology. Netmarble's subsidiary Netmarble F&C’s priority goal is to produce blockchain-based contents that encompass games, metahuman, and webtoons.

Netmarble also unveiled a plan to release its blockchain gaming platform. Earlier this month, Netmarble F&C acquired blockchain gaming and NFT platform ITAM Games. Domestic gaming companies including WeMade and Com2Us are actively investing in the sector. “A variety of games developed by Netmarble and other companies will be added to the platform developed by Netmarble F&C,” said Bang.

Netmarble’s strong presence in the global market is expected give it a competitive edge in P2E games, which let users earn a tradeable currency that can be exchanged for real money.

Since P2E games are banned in the country, Korean gaming firms have been focusing on the global market for their P2E business.

Netmarble started its global push in 2016, especially by launching games tied to intellectual property that is highly recognizable in the global market. Thanks to its efforts, about 74% of the company’s revenue came from the global market in 2021, up from 28% in 2015.

Its domestic rival NCSoft unveiled its plan to enter the P2E market at its conference call held in the third quarter of last year. Yet, market insiders have raised questions about whether NCSoft will be competitive in the market considering that a majority of its users are Koreans. NCSoft generated 83% of its revenue in Korea in 2020.

Netmarble is expected to step up efforts to generate revenue in the P2E market based on its successful experience in the global market. The firm only needs to add the blockchain technology to existing games tied to popular intellectual property. The game developer is highly likely to start generating revenue if its users abroad shift to P2E games. (Reporting by Won-ji Hwang)