Wemade Achieves Record High Performance Since Establishment... Operating Profit of 326 Billion KRW Last Year

[Asia Economy Reporter Seungjin Lee] Wemade recorded its highest performance since its establishment last year.

Wemade announced on the 9th that its consolidated sales last year reached 561 billion KRW, a 344% increase compared to the previous year. Operating profit was 326 billion KRW, and net profit was 485.2 billion KRW, achieving the highest performance in its history.

Last year's fourth-quarter sales were approximately 352.4 billion KRW, operating profit about 254 billion KRW, and net profit about 425 billion KRW on a provisional basis.

Fourth-quarter sales last year rose sharply by 656% year-on-year due to the full reflection of global sales of 'Mir4' and the inclusion of WEMIX liquidity sales. Operating profit and net profit also turned positive compared to the same period last year. Based on the 2021 performance, Wemade decided a dividend of 650 KRW per share as a shareholder profit return policy.

In 2022, Wemade plans to continue expanding its business with ▲ onboarding 100 games on the WEMIX platform ▲ expansion of blockchain DeFi (decentralized finance) services ▲ strategic investments in blockchain and metaverse companies.

Wemade announced the WEMIX quarterly report and WEMIX burn plan. As a reward for the growth and development of the WEMIX ecosystem, it plans to burn 1% of the total issued amount each time the WEMIX price rises by 10 dollars until it reaches 200 dollars.

In other words, cumulatively, 20% of the total issued amount will be burned. Considering that the highest WEMIX price so far was 24 dollars, it plans to burn 2% of the total issued amount in the near future.

Wemade Max's annual sales in 2021 were about 35.5 billion KRW, with an operating profit of about 400 million KRW. Fourth-quarter performance increased by 23% compared to the previous quarter to about 9.4 billion KRW, and operating profit turned positive to about 600 million KRW.

In November last year, Wemade Max incorporated Wemade Next, the developer of 'Mir4', as a subsidiary, strengthening its game development capabilities and competitiveness as a merger and acquisition (M&A) platform. Its affiliate Lightcone onboarded the SF strategy simulation game 'Rise of Stars' on WEMIX and is preparing for global service in the first quarter.

Jang Hyun-guk, CEO of Wemade, said, “Based on the great success of the global blockchain platform WEMIX and 'Mir4' last year, we achieved the highest sales since our establishment. We are currently at the very early stage of a huge trend, and Wemade will focus its capabilities on actively promoting and executing everything imaginable.”

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