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Gaming company Nexon America now accepts cryptocurrency for in-game payments

Gaming company Nexon America now accepts cryptocurrency for in-game payments

The U.S. division of Asian gaming giant Nexon supports cryptocurrencies for players to purchase items in its popular online games, Forkast reports. Japanese-South Korean gaming company Nexon, which has a popular lineup of online games including KartRider, MapleStory and Mabinogi, is now accepting cryptocurrency as payment from players who want to equip their characters with monetary items, along with the U.S. dollar. Most of the company's successful games were free-to-play, but players had access to in-game stores where they paid real money in exchange for better weapons, accessories or other perks. Nexon America on Tuesday began accepting widely used cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Binance USD, Gemini Dollar and others for in-game items. Cryptopay service provider BitPay will manage players' wallets and transactions, as well as set the value of cryptocurrencies for trading. Nexon has consistently shown interest in blockchain and is expanding its investments in cryptocurrency. Back in April, Nexon bought $100 million worth of Bitcoin when it was valued at $58,226. It holds just under 2% of Nexon's cash and cash equivalents. NXC, Nexon's holding company, acquired South Korean cryptocurrency exchange Korbit and European exchange Bitstamp in 2018. NXC CEO and Nexon founder Kim Joon-joo, a blockchain enthusiast, is reportedly behind the company's investment. However, the company has said that its new cryptocurrency service has nothing to do with Nexon's bitcoin holdings, and that it will not acquire or hold any cryptocurrency associated with the initiative. Owen Mahoney, president and CEO of Nexon Co: “Nexon America's decision to accept cryptocurrency payments has nothing to do with NEXON Co.#8221 bitcoin holdings; Meanwhile, cryptopayments will only be accepted in the U.S., and there are no plans to service the feature in its country of origin, South Korea. Although Nexon did not give a reason for the limited functionality, all cryptocurrency or NFT (non-playable tokens) games are currently banned in South Korea.  

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