Upbit, South Korea's leading cryptocurrency exchange, to introduce Nexpace, a new token originating from the MapleStory universe, causing ripples in the crypto market.
Scoop:Crypto exchange giant Upbit is set to list Nexpace (NXPC) – the token that powers the MapleStory Universe, a blockchain expansion of Nexon's legendary game IP. Here's what's cooking:
Gaming and the cryptosphere
Upbit is taking a gamble on gaming-oriented digital assets, especially those with multi-chain capabilities, by adding NXPC to its roster of marketable crypto assets.
With this addition, Upbit companies up, aiming to become a go-to exchange for next-gen gaming tokens like Avalanche-linked NXPC. Keep your eyes peeled for other exchanges like Binance and OKX jumping in on the gaming-centric token hype train, too.
What the heck is Nexpace (NXPC)?
NXPC is the native token of Henesys L1, a Layer 1 blockchain that runs the MapleStory Universe. In this multi-chain, multi-tasking ecosystem, NXPC powers gas fee payments, NFT minting & trading, incentivizing user-generated content, and NESO conversion.
Don't think this gaming token is just a bird in a gilded cage. NXPC's real-life utility ties to the MapleStory economy make it stand out from the crowd of blockchain gaming tokens that often get slagged for their limited practical use.
In with the new, out with the old
To maintain orderly market conditions, Upbit has imposed some initial trading limitations:
- No buy orders during the first 5 minutes of trading.
- Limit orders only for the first 2 hours.
- Minimum sell price to be announced separately.
A game of patience
While Upbit doesn't have an exact timeline, they're stressing the importance of sufficient liquidity before starting trading. Wanna play? Follow their rules on wallet verification to ensure smooth deposits, especially where travel rule compliance is concerned.
The strategic significance for gaming
NXPC's integration with Avalanche unlocks quick, affordable transactions, essential for micro-payments and NFT-based in-game trading. Upbit's speedy adoption of NXPC could be a strategic move to position itself as the preferred exchange for the next wave of gaming tokens – a trend popular in Asian markets.
Avalanche + NXPC = 🤝
As a multi-chain compatible token, NXPC is prepared for cross-ecosystem functionality and scalability, which is crucial in an age where blockchain gaming tokens often rock the boat for limited practical use.
On the flip side, Upbit's cautious approach to moving forward with NXPC signals a smart approach to counterfeit token issues, still an unwelcome problem on many decentralized platforms.
Security first, always. 🛡️
Upbit's move to embrace gaming tokens like NXPC could mark a pivotal moment in the crypto gaming landscape. Here's to hoping more traditional gaming IPs make the leap to the blockchain!
✨ Sources
[1] Decrypt, (2022, March 16). Visit these 5 blockchain gaming platforms and play to earn. https://decrypt.co/82170/5-blockchain-gaming-platforms-play-earn
[2] Cointelegraph, (2022, April 26). MapleStory universe to launch blockchain-based play-to-earn NFT Marketplace. https://cointelegraph.com/news/maplestory-universe-to-launch-blockchain-based-play-to-earn-nft-marketplace
[3] Nexon, (n.d.). About MapleStory. https://maplestory.nexon.com/maplestory- about/index
[4] Finder, (2021, November 17). What is play-to-earn crypto gaming and how does it work? https://www.finder.com/what-is-play-to-earn-crypto-gaming-and-how-does-it-work
- Upbit, in a strategic move, is adding Nexpace (NXPC) to its exchange, aiming to become a primary platform for next-gen gaming tokens like Avalanche-linked NXPC.
- NXPC is the native token of Henesys L1, a Layer 1 blockchain running the MapleStory Universe, where it facilitates gas fee payments, NFT minting & trading, incentivizes user-generated content, and NESO conversion.
- With this addition, other exchanges like Binance and OKX are anticipated to join the gaming-centric token hype train.
- To maintain orderly market conditions, Upbit has imposed initial trading limitations, such as no buy orders during the first 5 minutes, limit orders for the first 2 hours, and a yet-to-be-announced minimum sell price.
- Upbit emphasizes the need for sufficient liquidity before starting trading, encouraging wallet verification for smooth deposits, especially for travel rule compliance.
- The integration of NXPC with Avalanche offers quick, affordable transactions, essential for micro-payments and NFT-based in-game trading.
- Upbit's swift adoption of NXPC could position it as the preferred exchange for the next wave of gaming tokens, a trend prevalent in Asian markets.
- As a multi-chain compatible token, NXPC is ready for cross-ecosystem functionality and scalability, addressing the limited practical use issue common among blockchain gaming tokens.
- Upbit's cautious approach to NXPC signals a smart strategy to combat counterfeit token issues, a persistent problem on many decentralized platforms.
- Embracing gaming tokens like NXPC, Upbit's move could mark a pivotal moment in the crypto gaming landscape, inspiring more traditional gaming IPs to join the blockchain revolution.
- In the blockchain gaming ecosystem, security remains paramount, ensuring an immutable, gas-efficient, and cryptocurrency-friendly environment for NFT minting, trading, and the metaverse.
