Why will (MapleStory N) be the new benchmark for GameFi?
Strong brand endorsement and user base
(MapleStory) Since its launch in 2003, it has accumulated over 180 million players globally, with peak monthly active users exceeding 6 million. Nexon, as a globally renowned game developer, generated over $3.6 billion in revenue in 2024, possessing mature game operation capabilities and global publishing experience. (MapleStory N) inherits the classic art style, social gameplay, and immersive storytelling of the original, while introducing Web3 elements to provide players with true digital asset ownership.
Innovative game mechanics
NFT Equipment System: Players can mint rare equipment NFTs through in-game activities, supporting cross-server trading and secondary market circulation.
P2E Economy: Players earn $NXPC through activities such as tasks, PVP, and team dungeons, with some rewards linked to on-chain staking, incentivizing long-term participation.
Decentralized Governance: $NXPC holders can participate in DAO voting to decide on game updates, token distribution rules, and more.
Web2-Web3 Bridge: Seamless connection through Nexon accounts lowers the entry barrier to Web3, attracting traditional players to migrate on-chain.
Technology and ecosystem support
(MapleStory N) is deployed on the Polygon main chain, with low transaction costs and fast speeds, suitable for high-frequency game interactions. Nexon has also formed strategic partnerships with Polygon Labs and Animoca Brands to gain technical and market resource support. The ecosystem plans to launch an NFT marketplace, an on-chain social platform, and cross-chain bridges to enhance asset liquidity.
Token economic model
Total supply: 1 billion $NXPC, initial circulation 17% (170 million).
Distribution: 40% for ecosystem incentives (P2E rewards, staking returns), 20% for the team, 15% for community and marketing, 15% for private placements, 10% for liquidity.
Deflationary mechanism: A portion of in-game transaction fees will be used to buy back and burn $NXPC, with an expected annual burn rate of 2%-5%.
Staking rewards: Players staking $NXPC can earn 5%-12% annualized returns, depending on the lock-up duration.
Market cap comparison and price projection
We referenced the current market capitalization and historical highs of leading GameFi projects, combined with the initial circulation of $NXPC (17%) to estimate its price range. Below is the comparative analysis:
Current market capitalization comparison (as of May 2025)
Illuvium ($ILV ): Market cap 1.2B → Corresponding $NXPC price ≈ $7.06
Immutable X ($IMX ): Market cap 1.1B → $6.47
Enjin Coin ($ENJ): Market cap 650M → $3.82
Yield Guild Games ($YGG): Market cap 480M → $2.82
Conclusion: Based on current leading GameFi projects, the reasonable price range for $NXPC is $2.8 to $7. Considering the brand effect of (MapleStory) and Nexon's operational capabilities, $NXPC is expected to anchor a mid-to-high valuation.
Historical market cap high comparison (2021-2022 bull market)
Illuvium: Peak 3.8B → ≈ $22.35
Immutable X: Peak 7.1B → $41.76
Enjin Coin: Peak 4.2B → $24.71
Yield Guild Games: Peak 2.9B → $17.06
Valuation assumption: If the GameFi market experiences a bull market again, $NXPC, supported by narrative-driven growth and ecosystem maturity, is expected to hit a price range of $17 to $40. In an extremely optimistic scenario, if player conversion rates exceed expectations and market sentiment is high, $NXPC could even challenge $50.
Welcome everyone to engage in discussions!
