Granado Espada, known as Sword of the New World: Granado Espada in North America, is a Korean fantasy MMORPG developed by IMC Games Co.,Ltd., and published in North America by K2 Network. It launched in the summer of 2007. Granado Espada won the 2006 Korean awards for Best Graphics and Game of the Year, with features previously unseen in an MMORPG (such as the ability for players to control multiple characters at the same time). Granado Espada features a unique art style based on the Baroque period of Europe, differing from the standard swords and sorcery fantasy themes of the genre.

The first English version of the game began Open Beta Testing on May 17, 2007. Publisher K2_network announced in January 2007 that they would be bringing Granado Espada to the North American and European markets in Summer 2007 under the title of Sword of the New World. The game was originally released under a pay-to-play model. On August 21, 2007, Sword of the New World became free-to-play.

On the 10 August 2007, IAHGames, which the game is licensed to in Singapore, Malaysia, Philippines and Vietnam, announced its business model for Granado Espada. Subsequently they informed players that on August 30, 2007, the game would become commercial. IAHGames gave players a 90-day free trial if they achieved Level 20 by that time. New players have a free five-day trial period and after which, they are required to pay. On December 05, 2007, as with its versions in other countries, the game became free-to-play.

Granado Espada distinguishes itself from many modern-day MMORPGs with a Multiple Character Control, or MCC, system. Rather than playing one character at a time, or using multiple clients, players may control a party of up to three characters at a time, making gameplay similar to a real-time strategy game. Up to three characters can be selected to be part of a team within the "Quarters" at the barracks. Any member of the party can be selected to be part of a team, regardless of differences in levels or classes.

Dungeons in Granado Espada are interspersed between towns and generally composed of three to five levels with successively more difficult mobs. Boxes and barrels are a unique feature of dungeons - and part of the anti-AFK features of the game. They randomly spawn throughout the dungeon, and if destroyed they release a group of monsters to fight the players. Al Quelt Moreza and the Tetra Ruins - the first two dungeon`s - final levels end with main quest storyline Mission Room for a single player, or a room in which a boss mob may be challenged by teams of players. Missions are instances, wherein players get their own "instance" of a specific map just for themselves. Thus there can be several players attempting to kill a boss in a dungeon, each within their own instances. There are Waypoints or (player chosen) save locations that players may teleport to by using a warp scroll. Five locations may be saved initially. Up to five more waypoint locations may be purchased from the Bazarre (cash shop). Teleporters also exist to teleport you to fixed areas in the game, for a small fee. A new player is able to visit the three main towns (Reboldeaux, Port of Coimbra and Auch) from the beginning, and is not required to make exploration trips to find them. Both zone maps and a global map is provided to help players navigate through the game. Quests are an important part of the game, though the quantity and quality varies at different levels. They provide some rewards such as "Vis" (the game`s currency), experience cards, polishers, equipment or RNPC (playable NPC) cards. Various NPCs throughout the towns and in some dungeon locations may be spoken with to initiate quests, which, like in traditional MMORPG format, usually consist of killing a number of monsters and/or obtaining their drops. Granado Espada has a main quest line that extends to the highest levels and zones: Bahamar Swamp and the Frozen Fields of the north. Access to the Ice Wizards` Tower - currently the hardest area in the game - is only gained by performing the main quest line through to the Frozen Fields. RNPC is short for Recruitable Non-Player Character. Andre, Claude, Jack and Idge are examples of this class of character. They give the player a number of quests to perform. When all of them are completed, the RNPCs offer to join the player`s family as a playable character. The player receives the RNPC`s card, and then may create that RNPC once (only if space is available in the barracks) in order to play them. Polishers (Glazium) are a recent addition to the game. They are given as quest rewards and are turned in for powerful weapons and armour designed to help a player gain levels. Enchanting these `Ancestral Items` with enchant chips is guaranteed to give four or five very good bonuses within set ranges. In addition, all ancestral items at levels 1, 20, 40 and 60 have the bases stats of items 20 levels higher.