Nexters CEO Jang Hyun-guk Promises to Become the Top Blockchain Game Platform

“There is no technology that makes boring games interesting. Blockchain is not magic. The game needs to be fun first, then we add blockchain.”

"There is no technology that makes boring games interesting. Blockchain is not magic. The game needs to be fun first, then we add blockchain."

Jang Hyun-guk, the CEO of Nexters who led the 'WEMIX' coin business at Wemade, moved to Action Square earlier this year. He secured 9.64% equity in Nexters through a third-party allocation of paid-in capital increase, becoming the second-largest shareholder, and was appointed as the sole representative of Nexters on the 26th of last month.

Known for his roles as chief financial officer (CFO) and chief executive officer (CEO) at Nexon, NEOWIZ, and Wemade, Jang is a graduate of Seoul National University, majoring in business administration, and holds a master's degree in management engineering from KAIST.

At Nexters, the focus will be on building the top blockchain game platform, 'CROSS Project.' CROSS supports game companies in issuing and managing tokens and aims to create an environment where in-game items and currencies are tokenized, allowing users to own and trade them. It acts as a hub for blockchain games, similar to the role of 'Steam' in the conventional gaming industry.

Last month, Nexters completed the establishment of the 'Open Game Foundation (OGF)' blockchain game foundation in Zug, Switzerland, and signed a comprehensive service deal with Action Square for 5.4 billion won on the 28th. The foundation will handle policies related to blockchain and virtual assets, while Nexters will be responsible for the actual game development and services. The first game to be launched under the name Nexters, 'Ragnarok: Monster World,' is set to premiere on the 22nd of next month.

In line with the release of the Ragnarok game, Nexters plans to unveil the 'CROSS X' app on the 1st of next month, which will serve as a central service for the CROSS blockchain-based ecosystem. CROSS X is envisioned as a one-stop platform that will integrate various games and additional services, going beyond just simple digital asset management.

On the 18th, CEO Jang met with ChosunBiz at Nexters' office in Gangnam, Seoul, where he shared his vision for expanding the CROSS ecosystem in major regions around the world. A branch has already been established in China, and they are currently setting up a branch in Dubai.

Discussing the status of financial transactions from blockchain games, which are currently banned in Korea, Jang remarked, "Korea is the only country where blockchain games are banned. I believe that as we move forward, positive discussions will unfold in the domestic political arena."

I’m curious about the background of your direct entrepreneurship.

“I have been working in the game industry for about 29 years. After being involuntarily laid off from my previous job at Wemade, I had significant concerns. I didn’t want to return to being an employee. So I asked myself, 'What am I good at?' and I realized that I had achieved significant success in blockchain games. However, since my departure from Wemade in March of last year, there hasn’t been much progress in the global blockchain game industry. I feel that this year will be a foundational year for the development of blockchain games, with Nexters taking the lead.”

-What is a blockchain game?

“In Korea, it’s banned, so people’s understanding is bound to be low. A game is essentially a simulation, and players recognize that it’s fake. The degree of immersion determines how fun the game is. Now, blockchain games have economic value, which increases immersion. If a game is fun, users will invest their time and money. But that time and effort become assets inside the game. Blockchain technology transcends that boundary and brings it out to the real world, creating economic meaning, and that's what defines blockchain games.”

-Which games fit well with blockchain technology?

“Since it creates a new economic structure, it fits well with more complex massively multiplayer online role-playing games. It can also be introduced into first-person shooter action game genres. Moreover, it can be used in casual games in various ways. Last year, there were successes in very simple games, which people called ‘meme games.’ For example, when people play Anipang, they usually message their friends to send hearts if they are lacking them. If such elements are preserved as game tokens, the level of immersion will increase significantly. Veteran players can enjoy sharing those hearts with friends or selling them at lower prices. This year, Nexters plans to introduce blockchain technology with the 'Dragon Flight' intellectual property (IP).” (Dragon Flight is a mobile shooting game released by LINE Games in 2012, where players move characters side to side to destroy monsters and obstacles.)

-There may be cases where it’s difficult to exchange tokens between games on the CROSS platform.

“If the game developers