Wemade, 2Q Revenue 69 Billion KRW Up 147% YoY... Mir4 Performance (Update)

[Asia Economy Reporter Kang Nahum] Wemade announced on the 11th that it recorded consolidated sales of 69 billion KRW and operating profit of 27 billion KRW in the second quarter of this year.

Thanks to the revenue growth of the mobile game 'Mir4' and an increase in license revenue, sales rose 175% compared to the same period last year. Operating profit and net profit (19 billion KRW) also turned positive.

In particular, Mir4 has achieved cumulative sales of approximately 100 billion KRW from its launch in November last year through the second quarter of this year. The global version of Mir4, based on WEMIX and applying blockchain technology, is scheduled to officially launch this month.

There were also investment achievements in the second quarter. The new title 'Odin: Valhalla Rising,' developed by Lionheart Studio, which Wemade invested in 2018, achieved first place in sales on major domestic app markets immediately after its release, among other successes.

Last month, Wemade formed a strategic partnership with Vidente, the largest single shareholder of Bithumb, Korea's leading cryptocurrency exchange, and made a large-scale investment totaling 80 billion KRW. It is expected to create significant synergy with Wemade's blockchain business in the mid to long term.

Subsidiary Wemade Tree globally launched a total of three blockchain games including 'Cryptornado for WEMIX' and launched the NFT auction platform 'WEMIX Auction,' entering the NFT market business. In the second half of the year, the company plans to focus on securing competitiveness through continuous investment in blockchain game development and various other businesses.

Another subsidiary, Wemade Max, conducted a physical division to concentrate capabilities by business sector and established Lightcone, a new company specializing in mobile game development. Wemade Max's second-quarter performance recorded sales of approximately 8.3 billion KRW, operating loss of 100 million KRW, and net loss of 800 million KRW.

Wemade CEO Jang Hyun-guk stated, "Thanks to the success of Mir4 and the growth of licensed games, we achieved good results in the second quarter as well," adding, "This year, we will actively respond to the rapidly changing global market through various businesses that Wemade is pursuing."

This content was produced with the assistance of AI translation services.