RealNetworks pacts for online games

Online music and gaming company RealNetworks is joining with several prominent media execs to fund a new company that will import Asian online videogames to the U.S. market.

OGPlanet’s investors include former Disney Online prexy and RealNetworks exec Richard Wolpert; Peter Levin, CEO of digital media firm BellRock Media; Mark Surfas, founder of vidgame media company GameSpy; and former RealNetworks exec Andrew Wright.

Sangchul Park, formerly an exec with Korea’s LG Corp, is heading up OGPlanet, which has already taken over U.S. operations for Albatross 18, a PC-based multiplayer online game that’s been a hit in Asia.

Unlike most multiplayer online games, such as the ultra-popular “World of Warcraft,” OGPlanet’s games won’t carry a subscription fee. Instead, in a manner similar to cult U.S. hit “Second Life,” Netco plans to earn revenue through the sale of “virtual products” in the game worlds, as well as advertising.

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