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Gitumani Talukdar
Dec 10, 2021
by Gitumani Talukdar

South Korea's Wemade Bets on Crypto for Reinstalling Gaming Fate

Wemade Crypto Gaming
The 21-year-old gaming firm – Wemade is holding to adjust on crypto-based games now. The main reason behind this decision is one of Wemade's titles witnessed global hits. 

Wemade Bets on Crypto for Reinstalling Gaming Fate

While playing "Legend of Mir 4," an MMORPG (Massively Multiplayer Online Role-Playing Game), players can collect items worth cryptocurrency's exchange. The game was released in 170 countries in August. To date, the game records around 2 million monthly active users. The company reported, "in October, 1 million users were spotted playing the game simultaneously."

Convenor and creator - Park Kwan-ho said, "I'm quite delighted about the success we are enjoying at present." The man who worked over the "Legend of Mir" series for a long time added, "We made additional efforts to connect the blockchain technology. And today, I can say we're lucky in terms of timing."

The craze has steered Wemade's stock price by over 400% since the game's launch. The company profited from a market capitalization worth $4.5 billion. The stock's rumble drafted a billionaire of Park, owning an average of 45% of Wemade.

The game also witnessed an oscillation across cryptocurrency markets. Wemade's token Wemix held the record of 'most actively traded on' token in South Korean exchanges. Hence, competitors in gaming platforms are now looking forward to launching cryptocurrency-based games of their own.

Overview of the Blockchain Ecosystem 

Park – Wemade's founder commented, "As soon as the platform is completely developed, we expect the blockchain ecosystem-related income to overgrow our game revenue." He added, "This might happen within the next five-year window."

"Wemade's success with Mir 4 has served as a purpose to magnify expectations for play-to-earn massively multiplayer online games," reported Moonjong Lee - Shinhan Investment's analyst. He stated that NCSoft – one of the largest gaming firms, will issue its tokens and switch to the play-to-earn ecosystem with time.
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South Korea's Wemade Bets on Crypto for Reinstalling Gaming Fate
Gitumani Talukdar
Gitumani is a blockchain enthusiast as she keeps a tab on the recent happenings pertaining to the crypto industry. She aims to provide quality content in blockchain and crypto domain. She is a financial content writer too and has worked on several financial projects related to the stock market news, fundamental research, and technical analysis for several websites.

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