South Korean gaming studio NCSoft stock price spikes 30% amid plans to launch NFT games in 2022

South Korean gaming developer NCSoft has announced plans to launch non-fungible token (NFT)-based games in 2022. Hong Won-jun, NCSoft’s chief financial officer, made this known during the company’s Q3 earnings call on November 11.

According to Hong, the planned NFT gaming titles will be in the form of massively multiplayer online role-playing games (MMORPG) with release dates scheduled for Q2 2022.

NCSoft’s NFT-based gaming titles will also follow the play-to-earn (P2E) model where players are rewarded for playing the games, in this case with cryptocurrencies. NCSoft plans to create its own crypto tokens to use as rewards for playing the games.

The game maker may also extend the P2E format beyond its upcoming catalog of NFT-based games with Hong stating: “We are also considering applying the play-to-earn game model to all games developed and distributed by NCSoft.”

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