Joonmo Kwon, a former CEO of Nexon, is an example of an established game developer who decided to march into the wilds of Web3 gaming.
He started Delabs Games in South Korea back in 2020 and moved into Web3 at the end of 2021. He raised a round of funding March 2023 ($12 million to date) and then went to work on a variety of games. He is also chairman of 4:33 Creative Lab (parent company of Delabs Games), which saw 70 million downloads for its hit game Boxing Star.
Earlier this year, his company launched Rumble Racing Star, a Web3 kart racer on both PC and mobile. The game has reached nearly 10,000 daily active players who have played 2.4 million races during that time, and I had a chance to catch up with him on the state of blockchain gaming. We had an interesting conversation, especially around why Web3 gaming is taking a while to catch on in the West.
Delabs Games’ idea of Ragnarok.
Rumble Racing Star is one of the games that bridges Web2 free-to-play gaming with Web3 player ownership. Kwon thinks of it as “challenge to earn” when it comes to Web3 gaming. Kwon said the company’s Metabolts NFTs sold out in May and the firm is working on Space Frontier. Key partnership include Ambrus Studio, Batching AI, Cow Cup, and Proof of Play. Delabs is building on the Arbitrum protocol and is working on the the Delabs Playable Layer.
What has he learned? Web3 gaming has a loyal following but a relatively small community. The games need to be fun, have a sensible economy, and they also need marketing. And while it has taken a lot longer to reach the mass market in the West than imagined, there are bright spots like the viral nature of mini-games on Telegram, Kwon said.
The company has 30 people, and it’s working on an RPG survival game, an anime game and updates to the racing game. The game has nearly 10,000 daily active users and retention is high. He expects real success will come in 2024 or 2025.
And Kwon is pivoting to focus on games on Telegram using the TON blockchain, with launches coming for Ragnarok (not the same as Ragnarok: Monster World from Zero X/Gravity) and Boxing Star on Telegram, which has seen a surge in blockchain gamers in 2024 because of the success of other companies’ games like Hamster Kombat and Notcoin. Delabs Games’ titles will see beta tests soon.
This past July, Delabs Games launched its first game on Telegram with the baseball game Giga Chad Bat. The idea is to take games to where gamers are already connecting. The company is planning to launch the Delabs Games Pla …