NCsoft Becomes Partner of Sui Developer After $15 Million Investment

Mysten Labs, the Web3-startup behind the blockchain project Sui Web3-startup, announced a strategic partnership with the South Korean developer and publisher of online games NCsoft.

Founded in 1997, the company is best known for game franchises such as Lineage, Aion, Guild Wars and Blade & Soul.

As part of the collaboration, NCsoft invested $15 million in Mysten during the Series B financing round of $300 million, announced in September. The round was led by FTX Ventures, and the startup’s valuation reached $2 billion.

According to the statement, the partners will explore opportunities for jointly creating entertainment applications built on the Sui blockchain. The network was Mysten’s first product, launched in 2021 by former Meta employees who worked on the Diem project.

“Translating games to Web3 requires infrastructure that can support millions of gamers, while allowing them to own and interact with fully on-chain, dynamic, and composable digital assets,” said co-founder and CTO Sam Blacksher.

In his words, “the scalability and object-oriented architecture of Sui” make the blockchain a natural choice for developers aiming to “create densely populated games.”

“Blockchain technology can create new and innovative experiences for players. We are pleased to collaborate with Mysten, which shares our vision of decentralized networks as a platform for a truly user-centered economy,” commented Songi Yun, NCsoft’s president and chief strategy officer.

Earlier in October, Horizon Blockchain Games CEO Peter Keltyka acknowledged that the use of blockchain in gaming faces a mixed reception amid the studio’s $40 million funding.

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