Nexon Shares Drop Day One – After an IPO that raised more than $1.17 billion dollars, Nexon’s shares dropped 2.3 percent below their initial offering price by the end of the day. According to Bloomberg, Nexon’s shares begun trading at 1,307 yen, very slightly above the IPO price.

Rice University Picks Night Owl Games as Most Promising Company – Hardcore social game developer Night Owl Games has been named one of Rice University’s five most promising IT and Web Companies, beating out more than 60 other companies for the award. Night Owl Games’ first title, Dungeon Overlord has more than 120,000 MAU according to AppData.

Cie Studios Has a Good Year – Cie Studios, the parent company of Car Town developer Cie Games has released some financial highlights from 2011. According to the company, gross revenue was up 26 percent, but Cie did not break out revenue specifically from its games unit.

Michael Buble Visits CityVille – Canadian crooner Michael Buble is the latest celebrity to make an appearance in Zynga’s CityVille. Starting next week players will be able to collect items and complete quests related to the singer and will have access to an exclusive video within the game.

Social Goods Trading Network Fayceoff Goes into Closed Beta - Fayceoff, a new virtual goods trading network that allows players on social networks to trade unwanted virtual items has gone into closed beta. The company is incentivizing developer sign-up up with a $10,000 contest for integrating the free service into a Facebook game.

American McGee Working on Social Game - American McGee, the well known developer behind the Alice series and head of Shanghai-based games studio Spicy Horse is working on a new social fighting game based on toy collecting. According to Siliconera, the game will be called Big Head Bash and will launch in early 2012.

A Better World Sets Goal for One Million Good Deeds – Pennsylvania-based ToonUps is using its Facebook game A Better World to make the real world a little better. If players perform a million good deeds in real life by January 31st, the developer will donate $10,000 to Cure.org.

[Launch] Outplay Entertainment Launches Two Games – Outplay Entertainment has released its first two Facebook games, Word Trick and Booty Quest. The Scottish company was founded by the former heads of console development studio The Collective and opened an office in April.

[Launch] Pangalore Releases Pop the Candy – San Jose/Seoul-based developer Pangalore has released its latest Facebook game, Pop the Candy, a match-2 game set in a candy store. The game was developed in HTML5.

[Launch] PixelJunk Monsters Online Now in Open Beta - Japanese developer Q-Games’ tower defense game PixelJunk Monsters Online has gone into open beta. The Facebook game began life on the PS3 and PSP before being adapted as a free-to-play social network title. We reviewed PixelJunk Monsters Online when it was still in alpha.