[Asia Economy Reporter Kang Nahum] Wemade is experiencing a new heyday with the mobile MMORPG 'Mir4'. It is analyzed that the bold challenge of linking blockchain technology with gaming has raised the company's value.
According to Wemade on the 17th, the global version of 'Mir4', released in August this year, surpassed 800,000 concurrent users on the 14th. As the number of users increased, the number of servers also showed an upward trend. At the time of the global version release, the service started with a total of 11 servers: 8 in Asia, 2 in Europe, and 1 in North America. However, with a rapid increase in users after the release, the total number of servers exceeded 100 within 36 days of official service. Currently, Wemade operates a total of 136 servers: 64 in Asia, 6 in India, 13 in Europe, 21 in South America, and 32 in North America.
The stock price is soaring as well. On the 14th, Wemade's stock price surged 29.22% to 117,200 KRW, setting a 52-week high. The next day, it rose another 2.65%, closing at 120,300 KRW. The market capitalization surpassed 4 trillion KRW.
The brand reputation is also rising accordingly. According to the big data analysis of listed gaming companies conducted by the Korea Corporate Reputation Research Institute this month, Wemade's brand reputation index increased by 24.94% compared to the previous month, ranking 4th among gaming companies. It has steadily risen one step each month from 7th place in July.
The success of Mir4 was largely due to the establishment of a 'blockchain economy' within the game. Wemade made it possible to exchange 'Heukcheol', the representative in-game currency of Mir4, for the utility coin Drayco at any time. Drayco can be exchanged for the cryptocurrency 'Wemix' through the blockchain wallet service 'Wemix Wallet'. Currently, Wemix is listed on exchanges such as Bithumb, allowing it to be converted into cash at any time. In the future, there are plans to NFT-ize characters and items so they can be bought and sold.
Although there are some risks, such as the global PC game distribution platform Steam deciding not to service blockchain-based games, NFT games, which are rapidly emerging under the concept of 'Play to Earn', are showing explosive growth in Southeast Asia as well as the US and Europe. This is expected to further increase Wemade's corporate value in the future.
Jang Hyun-guk, CEO of Wemade, said, "Mir4 combined with Wemix is changing the paradigm of the global game market," adding, "We will make Wemix the base currency of blockchain games."
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