NXPC has taken the spotlight. This token, tied to the blockchain game MapleStory Universe, launched across major exchanges on May 15. Its price quickly surged past $3, placing its fully diluted valuation at $3 billion.
It wasn’t all about nostalgia, though. Airdrops provided bonuses worth as much as $600 for each wallet, fueling the frenzy further. Players and investors flocked, enticed both by nostalgia and cash. MapleStory used to rule online gaming in the 2000s.
Today, it comes back as a Web3 game. Its return comes with an investment beyond the name alone. It is powered by Nexon’s blockchain division, NEXPACE. It employs two tokens: governance token NXPC and game utility token NESO. The model balances the value of tokens with game usage. It is, however, viewed by many as another avenue for short-term gains.
NXPC Trades Above GameFi Veterans
The trading volume exploded. NXPC reached $6.85 million in a day. Such prominent exchanges as Binance and Upbit listed the token in short order. Funding rates in futures plunged below zero at one point. Short offerings covered long positions, an indicator of substantial upward pressure.
However, the game itself is still in beta. Nobody knows yet just how stable the in-game economy actually is. Genuine players haven’t stress-tested its mechanisms at scale. Previous successes such as Axie Infinity stand as an example: hype evaporates quickly without value behind it.
The early price of the token now rivals or beats many older GameFi tokens. It is higher priced than Mobox and Axie Infinity. It is rivaling Decentraland and The Sandbox in value. Expectations for an upward push toward $15 and beyond recall historical market highs. Yet the market today doesn’t support such optimism.
MapleStory’s Web3 Reinvention Begins
The game encourages the “Create-to-Earn” model. Players can create in-game objects and then trade them in the form of NFTs. NXPC comes into play here. But low creator usage may undermine demand. Several projects attempted similar concepts and failed.
Korean traders also shape this story. South Korea remains a strong force in crypto markets. Local sentiment could lift or sink NXPC. Early momentum looks strong, but long-term value must still prove itself.
MapleStory has come back. But now, it needs to win back not only fans but also investors, developers, and a wary market. The game is different. Now it needs to prove it can play according to new rules.
