Japan-based Nexon, one of the ten largest video game companies in terms of market capitalization at $22 billion, is looking to expand globally. The gaming giant has been busy of late, having acquired Embark Studios last year, and this year investing $400 million for a minority stake in AGBO, the independent studio founded by Anthony and Joe Russo, who directed Marvel’s Avengers: Endgame and Avengers: Infinity War.
“The idea overall with that is to combine what we’re really good at – making a virtual world last and grow forever – with what they’re really good at,” said Owen Mahoney, Chief Executive Officer of Nexon.
Nexon said that it has since been working with AGBO to extend its game franchises to film and television while developing virtual worlds and games inspired by AGBO’s movies.
Despite Nexon’s global aspirations, they have avoided the hype around the metaverse that has dominated many executives’ thoughts as of late.
“Nobody can define it and most importantly they can’t define why it’s so darn great,” said Mahoney. “It’s a big nothing-burger.”
Instead, the company is more focused on the challenge of netting big returns from higher-budget “Western” games.
In a perfect world, Nexon would like to control the cost of developing titles in an era when budgets typically exceed $100 million. For instance, it uses machine learning technology to animate some character actions instead of relying on workers.
“I don’t really care what happens in the first one or two quarters,” concluded Mahoney. “What I care about is what happens from years two to 20.”
(All information was provided by Asia Financial News)