[Click eStock] "Neowiz, Anticipates New Releases Next Year and Games Utilizing P2E·NFT"

[Asia Economy Reporter Song Hwajeong] Shinhan Financial Investment evaluated Neowiz on the 29th, stating that the release of new titles next year and games utilizing Play to Earn (P2E) and Non-Fungible Tokens (NFT) are highly anticipated. They upgraded their investment opinion from 'Neutral' to 'Buy' and set a target price of 34,000 KRW.

Researcher Lee Moonjong of Shinhan Financial Investment explained, "A performance turnaround is expected from the fourth quarter of this year, and multiple new titles will be released starting next year. Also, since the affiliate Neoply has been thoroughly preparing for blockchain business, the linkage with Neowiz's P2E games is an anticipated aspect."

Many new titles will be released from the end of this year through next year. On the 12th, the subsidiary GameOn launched 'Elion (PC MMORPG)' in the Japanese market, and the in-house first-person shooter (FPS) game 'A.V.A' is scheduled for release within this year. Next year, major PC and console games such as 'P-ui Geojit (Soullike)' and 'Project A.V.A (Open World Survival Shooter)', as well as mobile games utilizing in-house IP like 'Brown Dust', are also expected to be released.

The release of P2E games applying NFTs is also anticipated. Neoply, a subsidiary of Neowiz Holdings, has completed registration as a virtual asset operator and has been dedicated to blockchain node operation and technology development since 2017. The researcher said, "Neoply is expected to start the beta service of Neopin in the fourth quarter and officially launch it in the first quarter of next year. Neopin will provide not only cryptocurrency-related financial services but also NFT, P2E, Service to Earn (S2E), etc., and Neowiz's participation in P2E model game services is expected."

Performance normalization is expected in the fourth quarter. The researcher analyzed, "Although an operating loss was recorded in the third quarter, a turnaround to profit is possible in the fourth quarter. Web board traffic has normalized since September, and sales from new titles such as 'Unsouled' and A.V.A are also being reflected."