NHN Corporation through its NHN Gaming division, announced a partnership with Mysten Labs to enter the web3 space. Mysten Labs is the initial contributor to the Sui blockchain, a first-of-its-kind Layer 1 blockchain and smart contract platform. Sui Network is uniquely suited for web3 game design, offering low fees, fast transactions, and high scalability.

Sui allows developers to build games that are decentralized, secure, and adept to enable ownership of in-game assets. Through the partnership with Mysten Labs, NHN continues to be at the forefront of global publishers adopting web3 gaming. Korean game studios have long led innovation in the gaming industry ?

South Korea is home to the world's fourth-largest market for gamers, and is growing rapidly. The last major paradigm shift in the gaming industry began in Asia with mobile gaming, greatly contributed to by NHN's work over the past twenty years. However, web3 gaming has been slow to catch on with consumers, as enjoyable gameplay has been deprioritized in favor of incentivized rewards that dry up quickly.

NHN expects to launch its first web3 gaming projects in 2024. Mysten Labs and NHN will continue to collaborate on new use cases for the Sui blockchain in web3 game development.