NXPC drops over 6% in a short period, market capitalization falls to $264 million

On June 13, possibly affected by news that "Tencent is not considering acquiring Nexon," NXPC briefly dropped more than 6%, with its market capitalization falling to $264 million.

Nexon, known for role-playing games such as MapleStory, was founded in 1994 and completed the largest tech IPO in Japan at the time in 2011. Its Tokyo-listed shares have risen over 10% this year, with a market capitalization of approximately $15 billion. Tencent attempted to acquire Nexon in 2019 but was unsuccessful; the two companies have previously co-developed Dungeon & Fighter, one of Tencent's major revenue-generating games.

It is worth noting that in March this year, Nexon announced that its classic game MapleStory would partner with Ava Labs to officially enter the Avalanche network, launching a Web3 version called MapleStory Universe. The in-game currency NXPC was listed on several trading platforms in mid-May, coinciding with its TGE.