[Asia Economy Reporter Hyungsoo Park] Mitoon is showing strong performance. It appears that the news of Gravity's subsidiary Gravity Neoscyon signing a strategic agreement for publishing play-to-earn (P2E) games is influencing the stock price.
At 10:25 AM on the 18th, Mitoon was trading at 4,895 KRW, up 8.42% from the previous day.
Mitoon announced that it will onboard the hero collection role-playing game (RPG) 'Heroes NFT (Non-Fungible Token) War,' which applies the P2E system, onto the Meverse mainnet in collaboration with Gravity Neoscyon. This will be the second game to be launched on the Meverse mainnet.
Gravity Neoscyon developed a series of games including 'Ragnarok Valkyrie's Rebellion,' which was released in 2012 and enjoyed by 5 million players worldwide, 'Ragnarok The Lost Memories,' launched in Thailand in 2021 and subsequently in Southeast Asia, North America, and Korea, and 'RagnarokV: Resurrection.' Mitoon expects synergy from combining its own game publishing expertise with Neoscyon's technological capabilities.
Son Changwook, CEO of Mitoon, said, "We will focus our capabilities on close cooperation with Gravity Neoscyon to create positive synergy," adding, "Starting with Gravity Neoscyon, we will continue to expand the Meverse ecosystem by onboarding high-quality games in collaboration with various game developers."
Park Hyuncheol, Chief Operating Officer (COO) of Gravity Neoscyon, stated, "Heroes NFT War offers both the fun of playing and watching the game through attractive characters and spectacular effects," and added, "We will devote ourselves to ensuring that global users can enjoy great games through close mutual cooperation."
The P2E game ‘Pocket Battles NFT War,’ jointly developed by Mitoon and its subsidiary Mitogen, surpassed 100,000 daily active users (DAU). Pocket Battles NFT War was launched on July 28. It has attracted significant attention since its release, ranking first in trending on global P2E game ranking sites. Many users from around the world, including Vietnam, Indonesia, Brazil, the Philippines, and the United States, are playing the game. The retention rate also recorded over 50% as of the 7th, marking meaningful achievements as a P2E game.
Yoo Sungman, a researcher at Leading Investment Securities, explained, "Meverse Lass, which owns the proprietary blockchain mainnet 'Meverse (MEVerse),' was acquired in January this year," adding, "In the second quarter of this year, they opened their own DEX and introduced P2E games and Dapps." He further added, "We expect the Meverse ecosystem to expand in line with the growth of Mitoon's P2E-based games."
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