Investors Embrace NCSoft’s NFT-Based Videogame Plan
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NCSoft Corp. shares surged by their daily limit as excitement over the South Korean gamemaker’s new title based on non-fungible tokens outweighed concerns over a third-quarter earnings miss.
Investors cheered the Lineage developer’s plan to launch an NFT-based title for next year, boosting its stock a record 30% to the highest level since August. A block of 66,707 shares, equivalent to 0.5% of float, traded in the afternoon. The stock initially opened lower after quarterly results missed expectations.