NEXON grabs Source

Korean online gaming giant NEXON has snaffled up the Source engine to create a new fantasy-based game for PC.

So far we know that it is a third-person action shindig, probably an MMO, and a full announcement is expected soon.

"It's an honour to have one of the leading publishing and development studios in the world working with Source," said Gabe Newell, president and co-founder of Valve. "We look forward to working closely with NEXON to supply them with the tools and technology needed to create a working base for creating top-notch games that will be recognized as world-class online offerings."

NEXON created what is considered to be the first MMORPG, The Kingdom of the Winds, back in 1994. Since then its become one of Korea's biggest online publishers, releasing its 2D side-scrolling online adventure MapleStory all the way around the world.

It also created probably the first "cash for virtual cash" system, NEXON cash, whereby you buy virtual currency from the company to use in one of the many game worlds.

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