$50 for a Massively Multiplayer Online game, plus $15 a month? "That model is going away" says K2 Network's Joshua Hong as MMO's become a dominate form of entertainment in the 21st Century.
This week, meet Joshua Hong, Co-founder and CEO of K2 Network. He's the man who believes Massively Multiplayer Online games (MMO's) will become one of the most significant forms of entertainment in the 21st Century.
K2 Network is not only a gaming company but a service company. Six years ago, Joshua began porting MMO's from South Korea to the states. The company recognized an emerging "microtransaction" business model with MMOs in the Asian market. It became apparent that the business model was a perfect opportunity to be mirrored in the states.
Most MMO's use a subscription-based model in the states. As a workaround to compete, K2 Network offers free-to-play MMOs with the same high quality game play.
Will K2 Network's MMO approach succeed?
Hong replies, "The pricing mechanism in the U.S. retail video game space... is not well-thought out. There was only one-way for the MMO, you pay $50 for the box, and you pay $15 a month. That model is going away."
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