Author: Pzai, Foresight News
On May 15, South Korean gaming company NEXON, which previously released DNF, MapleStory, and KartRider, launched the NXPC token. In the token distribution, 3% was allocated to BNB HODLers, and the token was simultaneously listed on exchanges such as Binance, Bybit, Upbit, and Bithumb. Under the wealth effect, NXPC skyrocketed to a peak of $3.98 on opening, with its market cap reaching $4 billion.
Many users participating in the Alpha airdrop distribution excitedly shared the 'great event' on X, with each user receiving 198 NXPC valued at $575 at current prices, making it the 'largest' airdrop since the Alpha launch. On-chain, a smart investor purchased 4.1 million tokens at an average price of $1.36 just one minute after NXPC opened, with a total expenditure of $1.75 million, now making a profit of over $2.4 million, with a return rate of 135%.
In recent years, there have been few blockchain gaming projects that have skyrocketed in the market. However, NXPC and its ecosystem MapleStory Universe (the blockchain version of 'MapleStory') have brought a refreshing wave to the market. This article provides a brief overview of the project's background.
Recreating MapleStory
MapleStory Universe is a virtual world ecosystem built on the super IP of MapleStory. Since its establishment in 2022, NEXON has invested $100 million into this project and is leading the development process, constructing the core game MapleStory N and an NFT trading platform on Avalanche C-Chain, centering on a dual-token system (governance token NXPC and in-game token NESO), along with a mechanism for exchanging NFTs and tokens and a contribution reward mechanism, with a pre-download for MapleStory N set to launch on May 8, 2025.
In terms of token economics, the total supply of NXPC is 1 billion tokens, adopting a halving issuance model, with an initial circulating supply ratio of 16.9%. 0.4% of tokens are allocated for Upbit airdrop; 0.3% for Binance Alpha airdrop; 3% for BNB HODLer airdrop; and 1.422% for community airdrops (including Galxe events, NXPC competitions, bug bounties, Kaito voting, etc.). In-game, NXPC can be used to mint equipment NFTs and pay transaction fees, featuring a certain deflationary mechanism.
As a classic MMORPG with over 250 million cumulative players and total revenue of $5 billion, its large user base and mature economic system lay the foundation for this game’s blockchain adaptation. Such games naturally possess an immersive gameplay framework and a highly complex virtual economy, where players often invest in character development, equipment accumulation, and social relationship building over years or even decades. This long-term stickiness provides a stable user base and value accumulation scenarios for blockchain adaptation.
Moreover, the mechanisms commonly found in MMORPGs such as guild cooperation, economic production, and resource competition are highly compatible with blockchain's contribution rewards and token incentive models—for example, tokens earned by players through dungeon challenges, community governance, or content creation can be converted into universal fuel for the in-game economy, thereby forming a positive cycle, reflected in longer player lifecycles and higher in-game economic potential.
Under such a strategy, the crypto market is actively seizing such opportunities, and major South Korean companies are also viewing the crypto market as a new business growth point. According to NEXON's Q1 2025 financial report, quarterly revenue reached $775.9 million, a 5% year-on-year increase, and Q2 revenue is expected to decline by about 40%. The $3.8 billion market cap growth from this token issuance will also serve as a strong boost for the financial report. On the path of blockchain gaming, NEXON is taking up the banner of revival.
