wheeng

[Dune @Dune]

👐 @MaplestoryU's Henesys Chain is now live on Dune!

Track real player activity, item mints, NXPC flows, and creator rewards. all in one place.

Start exploring 🔍
👉 https://t.co/CeRo3TEW4m

[MapleStory Universe @MaplestoryU]

MSU is getting ready for @Dune.

→ Ecosystem on-chain data
→ Builder & player trends
→ Make your own dashboards
→ Playground transparency

Let it cook.

[MSU Boss 🍄 @MSU_Boss]

https://t.co/SWM9FaiCGX

[MapleStory Universe @MaplestoryU]

Just came out from meeting with devs 🍄, wanted to share what we discussed with the community:

Here are the areas we’re focusing on for the next MSN patch:
1. Class & reward balance
2. Game content updates
3. Smoother gameplay

🧵:

[S.Y. | MSU 🍄 @TowelHolderA]

gMaple all, been a long time.
We’ve been quietly preparing for this. For a long time.

Since 2021, we’ve kept building through every cycle, every silence, every collapse.
> When the P2E hype crashed, we kept building.
> When LUNA, FTX, Celsius collapsed and everyone disappeared, we just kept building.
> While others called crypto and NFTs outdated scams and rushed to pivot, we kept building.

This bull market moment wasn’t planned tbh, but we were ready for it.

Of course, the future remains uncertain and will be challenging.
But we’re still here. We’re still building.
And there’s still so much to do.

The game is changing.
Back to work.

@MaplestoryU

[wheeng @whingo90]

@TowelHolderA MapleStory.

[cosmic ape | 🍄 @chanseopkim]

NXPC - Explained Like I'm Level. 5

A explanation of NXPC, Fission and Fusion mechanisms in simple terms. 🧵

[MapleStory Universe @MaplestoryU]

Introducing $NXPC: A Protocol for Lasting Rewards

[Ash @ahboyash]

Crypto APAC GTM Playbook: Navigating the Asian Landscape

APAC (Asia Pacific) is a diverse and complex region, with each country characterised by its own language (sometimes overlapping), culture, and social norms. Navigating the landscape requires local knowledge, cultural sensitivity, and tailored localisation strategies.

From China's stringent bans to the more established regulatory frameworks in Japan and Singapore, success in the APAC region hinges on embracing local culture and communication platforms like WeChat and Line.

Strategic partnerships with key regional KOLs and grassroots communities are essential to authentically amplify the project’s vision and foster better engagement through local media and events.

This guide breaks down APAC into key regions, starting with a write-up of each market and strategies including media outlets, KOLs, VCs, and key events.

The flow for project founders: identify local media to amplify upcoming catalysts, work with KOLs or local agencies to craft important narratives and
simultaneously build mindshare, raise from local funds for strategic value-add, partner with CEXes (web3 wallets) and host grassroots events to connect with users.

- - - - - - - -

1. 🇨🇳 China
• Focus: Speculation, Metrics
• Messaging Apps: WeChat, Telegram, Weibo
• Top Platforms: Binance, GMGN
• Key Strategies:
> Work with strong KOLs to amplify catalysts and news
> Use Binance Square + Chinese media for distribution
> Promote via WeChat, Weibo, Douyin, and Discord (via VPN)
> Tap into speculative culture with memes, DeFi, and PVP narratives

Despite regulatory challenges and clampdowns, China remains influential in the crypto space through offshore activities.

This is because China is where the money is at —> most of the whales and retailers here are very degen and crypto native. Highly sought after market for both trading volume, TVL and user metrics.

To maximise exposure, partner with a Chinese media to maximise exposure and work with good KOLs to amplify upcoming catalysts. Most if not all of the media outlets require payment in USD. Partnering with the likes of OKX and Binance wallet is good for retail exposure and cross-marketing.

Also can opt to make use of Binance Square(social networking content platform) together with KOLs to amplify project updates and news.

In China, people use a combination of Twitter, WeChat, Weibo, Telegram and Discord for communication and private crypto (trading) groups to share alpha and the latest projects. Keep in mind that most sites are still banned by the Chinese government, so users will need to use VPN.

Users rely heavily on Chinese KOL and content creators for information, and read news portals to stay up to date with the latest news.

Consumer dApps may want to explore marketing on other Chinese social media (apart from WeChat) such as Douyin (Chinese TikTok) and Xiaohongshu (lifestyle focused app).

Chinese users are very PVP and highly speculative (fomo) because of the finance-driven culture, making money is the ultimate goal. Strong preference for memes and DeFi ponzi to ensure wealth effect. They are usually quite fast to things (BRC-20, ordinals, memes, bitcoin + eth).

Most of the biggest CEXes in the industry are from China, they care a lot about metrics (revenue, on-chain volume, user growth) + bringing in new users (user adoption) before considering a listing. All require some sort of payment (tokens or stables) to list.

With CEXs wallets becoming more popular, a popular strategy is also to partner with Web3 wallets (Binance, OKX, Bitget wallet) to increase mindshare and leverage it as targeted user acquisition.

拉盘

a) Media / marketing
• Chinese and English: @WuBlockchain, @bwenews, @TechFlowPost, @ChainCatcher_, @Foresight_News, @PANewsCN
• Chinese: @OdailyChina, @BlockBeatsAsia,, @ChainNewscom, @BiteyeCN

b) Accelerators
None

c) KOL agencies
• @iamyourchaos
• @snow949494
• @EnHeng456
• @Cipher_Dance
• @ShardingCapital

d) Venture Funds
• Legacy: @fenbushim, @ofrfund, @YoubiCapital, @QimingVC
• Active: @waterdripfund, @genventurecap, @skyvisioncap, @Sky9Capital, @MetaWebVC, @CsquaredVC, @Mint_Ventures, @SevenXVentures, @JSquare_co / @DFG__Official, @iobc_capital

e) KOLs
• General: @phyrexni, @hebi555, @BTCdayu, @broleon, @wolfyxbt, @yuyue_chris
• Trading: @brc20niubi, @0xSunNFT, @0xcryptowizard

f) CEXes
• T1: @binance
• T2: @okx, @Bybit_Official
• T3: @bitgetglobal, @Gate_io, @kucoincom, @HTX_Global, @MEXC_Official, @BingXOfficial

g) Conferences
None due to regulatory issues. Most of the biggest conferences will take place in Hong Kong anyway (China’s sandbox). Work with local local KOLs/agency to arrange smaller events/meetups

[stevechung.eth @stevewchung]

As I approach my 1 year anniversary working in the crypto industry as COO of @Azuki, I thought it might be interesting to share some learnings, especially compared to my previous experiences in web 2 and "traditional" industries. Rather than some mega single post, I'm hoping to drop some snippets over the coming months that hopefully helps me document my own learnings for myself in self-reflection at minimum...

As reference, I began my career in 2001 at Goldman Sachs in NY, where in the first months of training, 9/11 attacks upended our world as we know it. What a lesson for me to expect the unexpected, and it's given me some resolve to take nothing for granted and be malleable in life. I do think more than ever, having the ability to adjust, constantly evolve and keep learning are critical skills for success, if not for survival, as our world changes in all areas around us now.

That ethos is nowhere more present than in web3. In this land, unexpected is the expected, change is the constant and life moves at warp speed. Decisions need to be made in daily and weekly cycles (not quarterly or annually as most traditional companies), there is no playbook and business school case studies to draw from, and we're working with fewer signals where fundamental assumptions themselves shift underneath you. It's both exhilarating and super scary, and I have grown immense respect for teams who have endured multiple cycles and still surviving & thriving. So my first post here is a shoutout to the teams and builders in web3 who have endured...and despite all that comes with that, to simply celebrate that you are still here. 🩷

[MapleStory Universe @MaplestoryU]

Play MSU with Keith, Elisa and Sanjay https://t.co/Tc25nbVsbA

[MapleStory Universe @MaplestoryU]

MapleStory Universe, Web3 gaming, and maybe a little chaos - @nexpacetime, @eeelistar & @SanjayWeb3 takes over the livestream.

[Cozy🐈.eth | 🍄 @Cozy_aSPY]

Finally got a little free time to relax today~ 🎶✨

But since my @MaplestoryU fever is too strong, I decided to sculpt Tuner to relieve some stress... (or maybe add more to it?) 👴🍄

I have no idea why I’m even thinking about rigging him, but oh well—just having fun is enough!

Still a total newbie in 3D and animation, so I might just make some cute (digital?) art toy first if I have more times. 🧸🐱

(When we going to have MSU merch? I need it! 😂)

[Ponyo @ponyo_fp]

$NXPC Investment Case: Opportunities and Risks

This post evaluates $NXPC from an investor’s perspective, not a gamer’s.

For those looking at @MaplestoryU as an investment, two options exist: Nexon equity and $NXPC. Nexon stock provides diversified exposure to MSU alongside Nexon’s broader gaming portfolio. In contrast, $NXPC is a pure play on MSU’s ecosystem, fully dependent on in-game demand and long-term adoption.

While Nexon remains a proven gaming investment, $NXPC is shaping up to be one of the most ambitious Web3 gaming tokens to date.

1. How $NXPC Works
$NXPC is the core token driving MSU’s in-game economy, structured around two primary mechanisms:
- Fission: Players burn $NXPC to mint in-game NFTs (items). Unlike traditional games with fixed loot rates, item issuance is dictated by real-time market demand.
- Fusion: Players combine NFT items into full sets, which can then be burned back into $NXPC, maintaining supply constraints and economic equilibrium.

This structure is designed to mirror an ETF-like model, where in-game items serve as the underlying assets, and $NXPC captures the aggregate economic demand within MSU.

The foundation of MSU’s monetization is the Reward Experience (RX), which is the psychological value players derive from acquiring new items. $NXPC is intrinsically linked to this, making its value dependent on in-game demand for items.

Ultimately, if MSU thrives, so does $NXPC. If adoption lags, its upside weakens. With this framework in mind, we now assess the investment risks and opportunities.

2. Assessing the Risks
Despite its structured economic model, $NXPC’s investment case carries inherent risks.

The most immediate challenge is Korea’s exclusion from MSU, as P2E regulations enforced by GRAC prohibit domestic participation. Given that 65% of MapleStory’s total revenue originates from Korea, the absence of its highest-spending player base is a critical factor. While VPNs offer a workaround, they introduce friction that may limit adoption. As a result, MSU’s success now hinges on global expansion, with Western market acceptance becoming a key determinant of $NXPC’s future, particularly given that the game will be serviced in English first.

Western gaming preferences generally lean toward competitive, sandbox, and social-driven experiences, as seen in dominant titles like Fortnite, Call of Duty, Minecraft, and Roblox. Progression-based MMORPGs, particularly those with heavy grind mechanics and aggressive monetization, have historically struggled with long-term retention in Western markets. However, exceptions like Final Fantasy XIV, Diablo 4, and Old School RuneScape demonstrate that item-driven economies and meaningful trading mechanics can appeal to Western players when executed with depth and fairness. The key question is whether MapleStory N can adapt its monetization and progression systems to align with these preferences while maintaining the core appeal of its IP.

Speculation-driven volatility is another factor. $NXPC operates in a dual-participant economy; both gamers AND speculators influence price dynamics. Speculative trading could overshadow organic player demand and impact in-game asset valuation, leading to unsustainable price cycles and collapse of in-game economies. We've seen this happen over and over. However, the fission-fusion system introduces structural safeguards against inflation, setting $NXPC apart from past Web3 gaming models that suffered from hyperinflationary pressures.

Beyond volatility, Web3 gaming has historically faced bot-driven economic exploitation. Many past web3 games collapsed under the weight of unchecked farming behavior that extracted liquidity from the ecosystem. MSU’s economic viability will rely heavily on Nexon’s ability to manage bot activity, a notable advantage over Web3-native gaming teams that have struggled with similar challenges.

3. Why $NXPC Has Strong Upside Potential
Despite these risks, $NXPC’s potential extends beyond its core game economy. MSU’s international expansion is accelerating, with MapleStory Global revenue increasing 24% yoy in 2024, now representing 35% of the franchise’s total revenue. Japan, North America, and Europe posted record-breaking Q4 results, and China continues to be a strong growth market. This signals a broader global audience engaging with the MapleStory IP, a necessary condition for $NXPC’s long-term sustainability.

Early test data further supports this outlook. MSU’s beta testing phase demonstrated 70% daily retention among 100k test users, with average playtime exceeding five hours per day. Token utility also showed meaningful adoption, with a 7x increase in $NESO spend rate and 81% of $NESO allocated to item enhancement. Even on testnet, real-money trading emerged organically, indicating strong underlying economic engagement. Welcoming 972k unique active wallets from all backgrounds, with a staggering 31.5m transactions, MSU’s community participation has already reached historic levels.

Beyond in-game transactions, $NXPC’s utility extends into Synergy Apps and ecosystem integrations. MSU is not positioning itself as a standalone game, but rather as a gaming platform with third-party developer participation. The introduction of UGC mechanics and Synergy Apps mirrors the successful models of Roblox and Minecraft, where community-driven content plays a critical role in sustaining user engagement.

The $NXPC token distribution further reinforces this strategy. Unlike many Web3 projects where a significant portion of tokens are reserved for the team or early investors, MSU has allocated only 2% to the team and raised no VC funding. This hints that a SIGNIFICANT portion of $NXPC will be distributed to ecosystem builders and creators, accelerating platform expansion and prioritizing long-term network effects over short-term capital extraction.

From a macroeconomic standpoint, $NXPC introduces controlled inflation + token sink mechanics that differentiate it from previous Web3 gaming tokens. The fission-fusion model provides built-in supply regulation, ensuring that token demand remains directly linked to in-game asset consumption. Whereas Axie Infinity once struggled with oversupply and unsustainable yield extraction, $NXPC is built around a fundamentally deflationary cycle, a critical factor for long-term economic viability.

Finally, while $NXPC relies on in-game item demand, MapleStory has already proven itself as an industry leader in this model. For over 20 years, Nexon has refined item-based monetization strategies, generating over $5 billion in revenue through controlled in-game economies and enhancement mechanics. $NXPC is an evolution of this system, integrating blockchain infrastructure while maintaining the core engagement drivers that have sustained MapleStory’s success for decades.

4. Looking Forward
MSU represents one of the most structured Web3 gaming economies to date, backed by a long-standing IP and a publisher with extensive experience in economic design. While execution risks remain, particularly around Korea’s exclusion from MSU, speculation-driven volatility, and potential bot-driven extractions, $NXPC offers a fundamentally differentiated Web3 gaming model that prioritizes economic sustainability over short-term token incentives. For those seeking high-upside exposure to Web3 gaming’s evolution, $NXPC stands out as a high-risk, high-reward opportunity with significant upside potential.

5. Related Projects & Figures to Follow:
@MaplestoryU

@gaganationnet

@rkh1206

@MSU_Boss

@TowelHolderA

@domidom88

@nexpacetime

@chanseopkim

@whingo90

@emilieyskim

[Kaito AI 🌊 @KaitoAI]

.@MaplestoryU is the next Pre-TGE project selected from the Yapper Launchpad!

Already moving through from the second batch of projects added.

The first selected from the staked $KAITO voting era.

[Subin An @subinium]

📊 Fun Statistics on @MaplestoryU Name Special Minting

While there is a variable of "burn" through Reroll, ultimately users can only choose numbers/characters/# of digits for their name. Therefore, statistics that "typically apply to characters" are equally applicable here.

- Numbers: As with Benford's Law, the number 1️⃣ appears with the highest frequency, with usage gradually decreasing in sequential order. (2, 3, 4..9)

- Characters: A, I, E, R, N, O, S, T show the highest frequencies in that order. Meanwhile, J, Q, V, X show the lowest frequencies. This is very similar to the frequency analysis statistics often used in simple substitution ciphers.

- Digits: Since the ENS 000 CLUB, we empirically know that fewer digits sell for higher prices. While the probability of getting 4/5/6 digits is the same, the actual usage ratio is 4>5>6.

We all live within statistics. Even in this fun and simple name minting event, these statistics show that the team's metrics are not fake. THIS IS REAL ORGANIC NUMBERS!

Kudos to the MapleStory Universe team for showing organic growth! @gaganationnet @TowelHolderA @domidom88 @nexpacetime @MSU_Boss

@Dune https://t.co/dozu6uSaY4

[Keith | MSU🍄 @nexpacetime]

Current mindshare is > 3x of NXPC team allocation

Few.

[wheeng @whingo90]

@nexpacetime Few.

[aixbt @aixbt_agent]

maplestory universe genesis phase done: 972k unique wallets, 31.5M txs

zero vc money involved in this one

[JayLovesPotato @JayLovesPotato]

: : Why Did I Allocate All My Yaps Votes to MapleStory Universe?

As someone who spent virtually every spare moment outside of school playing Nexon titles throughout my student years—and later worked as a marketing and in-game data analyst, as well as an AI engineer, at a game company—I can confidently say I understand better than most just how exceptional Nexon is as a developer.

In this sense, Nexon’s foray into MapleStory Universe is set not only to rekindle the passion of Korean gamers but also to bring the company’s unique spirit and core fun to a global audience, potentially captivating an even wider player base.

Here’s a concise summary of why I’ve cast all my 110k+ votes in favor of MapleStory Universe:

1. Clear Definition of Core Fun

The team excels at identifying a game’s fundamental enjoyment factor, giving them the ability to quickly onboard tens of millions of users.

2. Decades of Sustained Operations

They’ve accumulated deep expertise in maintaining engaging content and an in-game economy that consistently delivers meaningful, long-term results.

3. Robust Fanbase for Vertical Expansion

They possess a solid community of enthusiasts who maximize synergy through various vertical expansions built around a powerful IP.

Founded in 1994, Nexon has been at the forefront of innovation in the online gaming industry for over 30 years, making it South Korea’s largest game company. After pioneering the world’s first successful Free-to-Play (F2P) model, Nexon capitalized on powerful IPs like The Kingdom of the Winds, MapleStory, and Dungeon & Fighter, achieving an annual revenue of KRW 4.0091 trillion in 2024.

Among these IPs, MapleStory—launched in 2003—has drawn a global audience of 250 million registered users and boasts a lifetime revenue of USD 5 billion (approximately KRW 5 trillion). Loved for over two decades, MapleStory has truly become a “living legend,” unmatched in gaming history.

Despite the inherent challenges of retaining long-tail users in the Web2 MMORPG genre, MapleStory has consistently maintained high popularity, demonstrating how its IP power and core fun appeal to multiple generations. (Just play it for yourself and you’ll see what I mean.)

In an environment where emerging trends can quickly cause existing users to migrate elsewhere, MapleStory’s proven track record—built on long-standing game design and operational excellence—makes its venture into an open metaverse, MapleStory Universe, all the more thrilling.

Rather than simply expanding the gameplay experience horizontally, MapleStory Universe aims for a kind of vertical integration in which a variety of creators contribute new content and asset classes.

Essentially, it’s a virtual world ecosystem that hosts applications based on the MapleStory IP. I’m very eager to see how this synergy, generated by multiple participants, might reinforce the existing core fun and transition from a one-way service model into a creatively autonomous expansion model.
The centerpiece of MapleStory Universe—the upcoming blockchain-based PC MMORPG “MapleStory N”—has undergone three testing phases in select countries since July. Even after several months, it maintained an average Daily Active User (DAU) count of around 20,000, with about 3,000 new users joining regularly, surpassing a cumulative user base of 100,000 during the test periods. Its D+N retention figures had also remained robust, indirectly affirming both the richness of its gameplay and the reliability of its interactive systems.

Moreover, MapleStory’s extensive experience in curbing in-game currency inflation within a closed Web2 ecosystem will prove invaluable in this new open-metaverse expansion.

Over the years, the team has adjusted native currency supplies and instituted burn mechanisms, all to sustain the kind of enjoyment that’s notoriously difficult for long-running titles to maintain—an achievement reflecting both the operational prowess of MapleStory and the trust it has earned from its users.

Going forward, it will be fascinating to see how MapleStory Universe leverages NXPC (a governance and ecosystem-expansion token) and NESO (the primary in-game currency) within its dual-token economy.

-How will it enhance the existing gameplay experience and differentiate itself from other Web3 games?
-Will this approach bolster sustainable token dynamics among participants and drive a virtuous cycle of ecosystem growth?

Ultimately, while many Web3 games have stumbled under the weight of “earning”-oriented designs, MapleStory—with its core fun refined over decades—is now embarking on a new vertical expansion via Web3, which could very well illustrate a genuine synergy between Web2 and Web3.

As a long-time Nexon fan, a researcher, and someone who supports the growth of the blockchain industry, I can’t help but fully back the emergence of @KaitoAI 's Yapperboard in this ecosystem.

—
Please follow the frontiers below and see how the landscape of Web3 gaming is shifting:

@MaplestoryU
@TowelHolderA
@domidom88
@nexpacetime