The collaboration between Sui, Mysten Labs and NHN Corporation seeks to promote Web3 in the APAC (Asia-Pacific) region, especially with the development of Web3 mobile games.
Sui Network, the well-known blockchain with high scalability, low fees and focused on Web3 game design, has recently made public a collaboration that unites its blockchain ecosystem, with companies Mysten Labs y NHN Corporation. This in order to allow developers to create decentralized, secure games capable of allowing ownership of game assets, and thereby be at the forefront of global publishers adopting Web3 games.
Through this association, the three members seek to collaborate and promote the development of technologies and Web3 development. Mysten Labs, for example, adds a team of industry-leading experts in distributed systems, programming languages and cryptography, whose founders were senior executives and lead architects of pioneering blockchain projects. In fact, Mysten Labs is one of the initial collaborators in the development of Sui, so its closeness to this project is historically known.
NHN, for its part, is a global IT company with a broad portfolio of IT-based businesses including gaming, payments, entertainment, IT and advertising. NHN offers a wide range of services including gaming, webtoon, music, advertising, commerce, fintech and cloud, drawing on its IT operation experience as well as technology and service operation skills. Both companies (Mysten and NHN) are relevant players within the South Korean Web3 sector.
Driving Web3 innovation
Let's remember that Sui is a Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unmatched speed at low cost. All this has transformed Sui is a gradual advancement in blockchain and a platform where creators and developers can create amazing and easy-to-use experiences.
With all this Sui technology, it aims to be an important player in the Web3 world. The partnership with Mysten and NHN seeks to bring together talent to develop new technologies around the Web3 world, especially in the Asian market. The reason for it? It's just that Korean game studios have long been leading innovation in the gaming industry. In fact, South Korea is home to the fourth largest gamer market in the world and is growing rapidly. This makes it a market with a global impact, a fundamental space to conquer and Sui has understood this, which is why it seeks to position itself within this sector.
The main focus in this case has been the mobile video game industry, a space that has multiplied within the Asian market. This is where NHN and Mysten can enhance Sui's vision, to bring Web3 to the world of mobile video games in this region of the world. Thus, they hope to launch their first Web3 game projects in 2024.
Asia takes greater prominence
Ujin Chung, CEO of NHN Corporation, had this to say about the collaboration:
Up until this point, there has been a lack of synergy between Web3 and gaming. That synergy will be driven by growth and sustainability, the kind of things best accomplished by the minds that honed this skill at Web2 and have a proven track record of success in creating experiences that users enjoy. Through our partner selection process, Mysten Labs stood out to NHN for both its experience and Sui's innovative capabilities.
NHN is one of the largest mobile video game developers, with games with more than 37 million users (including Hangame Poker, Friend Pop and Crusaders Quest), all of them with a huge presence in the APAC region. With these developments, in the second quarter of 2023 alone, NHN Gaming generated the equivalent of $80 million in revenue.
For his part, Evan Cheng, CEO and co-founder of Mysten Labs, added:
What excites me about building with NHN is what we're starting to call 'stickiness' for users. It's a code that Web3, as a whole, has failed to crack, with daily active users on the most popular networks barely exceeding 300.000. At Mysten Labs, our mission is to bring the benefits of Web3 to the masses, in the billions. Creating products that truly attract a high volume of users is our top priority.
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