[Asia Economy Reporter Hyungsoo Park] Mobile game company Mitoozen continued its profit growth trend compared to the previous quarter.
Mitoozen announced on the 12th that it recorded sales of 23.4 billion KRW, operating profit of 8.2 billion KRW, and net profit of 6.6 billion KRW in the second quarter of this year. It explained that operating profit increased by 23.3% and net profit by 10.1% compared to the previous quarter through marketing cost optimization and operational efficiency.
While its existing social casino and casual games performed well, Mitoozen newly launched the social casino game 'Hoping Cash Casino' and the casual card game 'Solitaire Sea Life'. Together with its parent company Mitoon, it developed and started service of the blockchain-based game 'Pocket Battles NFT War'. It is actively working to build the Miverse ecosystem through P2E and NFT games.
Mitoozen plans to enhance group-level synergy effects by utilizing its subsidiaries such as the webtoon and web novel platform company 'Mitun & Novel', action RPG and TPS (third-person shooting) game developer 'Jofsoft', and blockchain specialist company 'Miverse Labs'.
Mitun & Novel is building a blockchain-based C2E (Create to Earn) model on its webtoon and web novel platform, aiming for release within this year. Jofsoft's TPS game 'Rift Sweepers' is a high-quality strategic third-person shooting game scheduled for early access on Steam in September. The official release is targeted for the first quarter of next year. Mitoozen plans to diversify its game genres.
Mitoozen CFO Seong Jongwon said, "We are responding flexibly to changes through operational efficiency and group company synergy," and added, "In the second half of the year, we will strengthen our gaming capabilities and focus on subsidiary business capabilities to take a step forward."
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