[Special Stock] Me2on, Equity Value 150 Billion KRW·Next Year Operating Profit 50 Billion KRW... Token Economy Infrastructure

[Asia Economy Reporter Hyungsoo Park] Mitoon is showing strong performance. Securities firms' analysis that it is undervalued seems to have influenced the stock price.

At 9:51 AM on the 2nd, Mitoon was trading at 7,200 KRW, up 9.26% from the previous day.

Hana Financial Investment newly issued a ‘Buy’ investment opinion and a target price of 11,000 KRW for Mitoon on the same day.

Researcher Choi Jae-ho of Hana Financial Investment explained, "It owns a VR casino game IP that is commercially viable in the metaverse, and "is providing regular services for global VR games based on this IP, ‘VR Casino’ and ‘Texas Hold'em Poker VR.’"

He added, "It supports transactions using Bitcoin for in-game payments, establishing infrastructure where a token economy can be realized within the actual metaverse."

Researcher Choi said, "The current stock price is undervalued enough to be explained solely by the value of its subsidiary ‘Mitogen’ shares, and "the value of the shares held currently exceeds 150 billion KRW based on Mitogen’s market price."

He continued, "Mitogen is expected to drive external growth next year with the momentum of three new titles scheduled for release in the fourth quarter of this year, and it is a social casino metaverse company best prepared with metaverse game IP ownership, actual VR game launch experience, and tokenization of gameplay."

It is estimated to achieve sales of 131.1 billion KRW and operating profit of 50.1 billion KRW next year, which are increases of 10.7% and 15.4%, respectively, compared to this year.

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