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Tencent Reportedly Eyeing Acquisition of Nexon Amid Blockchain Expansion Goals
Chinese technology giant Tencent is reportedly in discussions to acquire South Korean game developer Nexon, a move that could significantly bolster its position in the gaming and blockchain industries. According to industry insiders, Tencent has approached the family of Nexon’s late founder, Kim Jung-ju, to explore a potential deal. However, no definitive terms have been agreed upon, and it remains uncertain whether the negotiations will lead to a formal acquisition.
Family Ownership and Nexon’s Market Presence
Nexon’s controlling stake is primarily held by the family of its founder through investment firm NXC Corp and its affiliated unit NXMH BV. As of June 30, NXC Corp and NXMH collectively owned 44.4% of Nexon, with the founder’s wife and daughters reportedly controlling approximately 67.6% of NXC.
Founded in 1994, Nexon is renowned for its popular online games, including the MapleStory franchise. Headquartered in Japan, the company went public in Tokyo in 2011 in one of the largest tech IPOs of its time. While Nexon’s shares have gained over 10% in 2025, they remain nearly 30% below their peak valuation in 2021.
Nexon’s Push Into Blockchain Gaming
Nexon has been actively expanding its presence in the blockchain gaming sector. In mid-2024, the company launched a Web3-focused subsidiary, NEXPACE, with an initial $100 million investment. Headquartered in Abu Dhabi, NEXPACE aims to integrate blockchain technology into Nexon’s flagship franchises.
Under NEXPACE, the company introduced the MapleStory Universe, which serves as a gateway into Web3 for the MapleStory intellectual property. Its first major release, MapleStory N, debuted in May 2025, featuring innovations such as NFT-based item mechanics, gasless transactions, and a native token economy powered by NXPC.
Tencent’s History With Nexon
This is not Tencent’s first attempt to acquire Nexon. In 2019, a potential deal was abandoned due to pricing disagreements when NXC Corp explored selling its stake in the company. Despite the setback, Tencent and Nexon have maintained a strong business relationship, co-developing the highly successful Dungeon & Fighter franchise, which has been a significant revenue driver for Tencent’s gaming division.
Tencent’s Strategic Focus on Blockchain and Web3
Tencent’s interest in Nexon aligns with its broader strategy of expanding its presence in the blockchain gaming and Web3 ecosystems. Despite a downturn in the blockchain gaming sector—with daily active users hitting new lows and monthly funding for projects declining by nearly 70%—Tencent has remained committed to investing in this space.
Notable blockchain initiatives by Tencent include its participation in a $15 million Series A funding round for Chainbase, an omnichain data network, and its collaboration with the Open Network (TON) Foundation. Tencent has also launched data indexing tools and node deployment services for the TON blockchain, further reinforcing its foothold in the Web3 infrastructure space.
Broader Implications for the Gaming and Blockchain Industries
If the acquisition of Nexon materializes, Tencent could leverage Nexon’s expertise in gaming and blockchain development to enhance its portfolio. Additionally, Tencent’s existing investments in blockchain infrastructure and its involvement in China’s official metaverse working group highlight its commitment to staying at the forefront of technological innovation.
The potential deal underscores Tencent’s ambition to lead in both traditional and blockchain gaming while capitalizing on emerging opportunities in the Web3 ecosystem. As the gaming and cryptocurrency industries continue to evolve, this acquisition could mark a significant milestone in Tencent’s growth strategy.
