• Mobile gaming giant Netmarble wants to develop a virtual world similar to its existing board game “Everybody’s Marble”
  • The move is part of the company’s foray into emerging virtual media, as it plans to add blockchain capabilities to some of its existing games

Netmarble, Korea's largest mobile game developer, plans to release games for the Metaverse after setting up a new development division last year.

The gaming giant said it is developing a sequel to its subsidiary Netmarble F&C's monopoly-style board game "Everybody's Marble: Metaworld," The Korea Herald reported last week. The new game is part of the company's broader foray into the virtual world.

Metaverse Entertainment – Netmarble's metaverse development arm – was launched last August as part of the company's push to explore opportunities in new virtual media.

Netmarble's metaverse game will include all the trimmings that game enthusiasts have come to expect from virtual world-based games, including irreplaceable tokens (NFTs) and digital avatars, as well as the ability to buy and sell virtual lands.

According to the report, the international version is expected to be built on a "play to earn" model, allowing users to earn virtual currency with real money. Paid games are currently banned in South Korea, so its domestic version will only include NFT.

Netmarble chairman Bang Jun-hyuck said, “We plan to develop virtual world games that allow individual or corporate users to acquire virtual assets that can be exchanged for real assets such as currency through blockchain technology.”

Bang also added that Netmarble plans to follow up on Metaverse Entertainment's initial idea to introduce its Metahuman virtual female icon to consumers later this year.

Netmarble is the largest mobile game company in South Korea, with total revenues of approximately KRW 607 billion (US$506.2 million) in the third quarter of 2021. The company has produced iconic mobile games, including Marvel Future Revolution and Paradise 2: Revolution, which have been downloaded in the billions.

The company also plans to capitalize on its dominant position of deriving 70 percent of its revenue from overseas.

"With Lee Seung-won, the new CEO of Netmarble's global business, the company plans to target Western markets, especially by meeting the needs of local users and acquiring local game studios," Bang said.

Get the day's top cryptocurrency news and insights delivered to your inbox every night. Subscribe to 0XZX's free newsletter today.