Tencent’s Potential Acquisition of South Korean Game Developer Nexon
Chinese technology giant Tencent is said to be weighing the possibilities of acquiring Nexon, a game developer based in South Korea. This news has fueled discussions in the tech and gaming industry following a Bloomberg report.
According to undisclosed sources, Tencent initiated talks with the family of Nexon’s late founder, Kim Jung-ju. Although the exchange is underway, they have yet to agree on any final terms. Currently, it remains unclear whether or not the conversations will result in an actual transaction.
Nexon’s Ownership Structure and Tencent’s Approach
The significant stake in Nexon is owned by Kim’s family through NXC Corp and its affiliated unit NXMH BV, who are said to be assessing various options. As of the end of June, according to official company filings, these entities collectively held around 44.4% of Nexon. The late founder’s wife and daughters appear to wield control over as much as 67.6% of NXC.
Nexon, known internationally for its MapleStory franchise and other well-received online games, was founded in 1994. The company moved headquarters to Japan over its long run, and in 2011, it went public in Tokyo, marking it as one of the most significant tech IPOs of that time. Despite the company’s shares witnessing more than a 10% rise in 2025, they still stand nearly 30% below their highest point achieved in 2021.
The Web3 Vision of Nexon and Tencent’s Previous Deal Attempts
Further solidifying its foothold in the gaming industry, Nexon established NEXPACE, a dedicated subsidiary for leading the company’s blockchain ambitions. With a launching investment of $100 million from Nexon in mid-2024, the unit seeks to transform Nexon’s leading franchises into blockchain-enabled ecosystems.
Under the NEXSPACE banner, the MapleStory Universe was launched, presenting a significant entrance into Web3 for the MapleStory IP. Its major release, MapleStoryN, went live in May 2025 integrating NFT-based item mechanics, gasless transactions, and a native token economy built with NXPC.
But this is not Tencent’s maiden attempt at inking a deal with Nexon. Back in 2019, when NXC Corp was contemplating selling its stake, an earlier deal was cast aside due to disagreements regarding pricing. However, Tencent and Nexon share an existing relationship outside these negotiations. Their collaborative project, the widely successful game Dungeon & Fighter, significantly contributed to Tencent’s gaming revenue.
Tencent’s Further Endeavors in Blockchain Gaming and Investments
Despite a general slowdown in the blockchain gaming sector, Tencent demonstrates interest in enhancing its presence in this field. As per DappRadar, there has been a drop in daily active users in blockchain gaming while there was a near 70% decrease in funding for blockchain gaming projects during the same time. This has not deterred Tencent from its expansions in the sector.
Apart from its interest in gaming, Tencent has actively invested in the wider blockchain space. The previous year, the company’s investment arm spearheaded a $15 million Series A round for Chainbase, an omnichain data network. Moreover, Tencent has partnered with the Open Network (TON) Foundation and Tencent Cloud to strengthen blockchain infrastructure within the Asia-Pacific region. This includes launching data indexing tools and node deployment services for the TON blockchain, which showcases Tencent’s growing influence in the Web3 ecosystem.
Last year, Tencent joined China’s official metaverse working group, chaired by the Ministry of Industry and Information Technology. In sum, these strategic moves attest to Tencent’s commitments to sustainably strengthen its position within the dynamic and rapidly evolving technology landscape.
