Nexon America Accepts Cryptocurrencies for Purchase of In-Game Items

Partnership with BitPay Reflects Player Familiarity And Comfort With Using Cryptocurrency

This Initiative is Not Related To NEXON Co., Ltd. Holdings in Bitcoin

LOS ANGELES--(BUSINESS WIRE)--Nexon America Inc. -- a subsidiary of NEXON Co., Ltd. -- today announced a new feature in Nexon’s online Virtual Worlds that will allow players to purchase in-game items with cryptocurrencies as well as dollars. The feature will allow players to use Ethereum, Dogecoin, bitcoin and other cryptocurrencies to purchase items in many Nexon franchises including MapleStory, KartRider, Mabinogi, Vindictus, V4 and many more.

Player wallets and transactions will be managed by BitPay, an established cryptocurrency service provider offering seamless solutions with an easy-to-understand user interface. Players can purchase items at values set by Nexon and choose from multiple forms of payment including US dollars and cryptocurrencies.

• Cryptocurrency valuations are set by BitPay.
• Caps on player expenditures are set by Nexon and apply to all forms of currency.
• Eligible cryptocurrencies include Ethereum, Dogecoin, Bitcoin, Bitcoin Cash, Wrapped BTC, Binance USD, Dai, Gemini Dollar, Litecoin, Paxos Standard and USD Coin.
• Effective immediately, Nexon will begin accepting cryptocurrency for in-game transactions.

“Although Nexon America’s decision to accept cryptocurrency payments is unrelated to the bitcoin holdings of NEXON Co., Ltd., this feature reflects the sophistication of our players and their comfort with non-fiat currencies,” said Owen Mahoney, President and CEO of NEXON Co., Ltd.

“Nexon listens closely to feedback from our players, including the many who have requested we include cryptocurrencies as a form of in-game payment,” said Nexon America General Manager Kenny Chang. “Effective immediately we are pleased to offer this innovative payment feature for our players.”

“BitPay sees the massive audience of online game players as pioneers in living life on crypto,” said Stephen Pair, CEO of BitPay. “Our agreement with Nexon America to manage crypto payments for in-game items will deliver a great experience for players.”

This feature is not related to the bitcoin holdings of NEXON Co., Ltd., which are held as one of the company’s multiple currencies and as a hedge against debasement of fiat currency. Nexon will not acquire or hold cryptocurrencies related to this initiative.

About Nexon America Inc. https://www.nexon.com/

Founded in 2005, Nexon America Inc. delivers outstanding free-to-play online game expertise and live game support, taking the strengths of NEXON Co., Ltd. (“Nexon”) and applying them for uniquely western audiences. Nexon America has consistently sustained iconic franchises such as MapleStory and Mabinogi for more than a decade, which have gone on to break records and captivate players. With new projects on the horizon, Nexon America maintains the pioneering and innovative spirit of its parent company, employing its player-first approach, while designing the best possible gameplay experiences for the western market.

About NEXON Co., Ltd. https://company.nexon.co.jp/en/

Founded in 1994, NEXON Co., Ltd. (Nexon) (3659.TO) is a company engaged in the production, development and operation of online games and Virtual Worlds. First listed on the Tokyo Stock Exchange in December 2011, Nexon was placed on JPX400 in 2015 and added to the Nikkei Stock Index 300 in 2017. In 2020, Nexon was added to the Nikkei 225. Nexon currently has more than 50 live games on multiple platforms including mobile and available in more than 190 countries. Major game franchises include MapleStory, KartRider and Dungeon&Fighter. In 2021, Nexon completed the acquisition of Embark Studios AB, a company based in Stockholm, Sweden, developing multiple projects for global release.