Wemade Reports Operating Loss of 112.5 Billion KRW Last Year... Continued Deficit

Wemade announced on the 6th that it recorded consolidated sales of 607.2 billion KRW and an operating loss of 112.6 billion KRW last year. Sales increased by 31% compared to the previous year, while the operating loss expanded by 25%.

In the fourth quarter of last year, sales were 118.4 billion KRW, operating loss was 70.8 billion KRW, and net loss was 189.6 billion KRW, respectively.

The annual sales growth was driven by the domestic success of 'Night Crow' and licensing contracts for 'Legend of Mir 2 and 3' in China. Blockchain platform sales also saw a significant increase from the previous year, reaching approximately 9.4 billion KRW, with both the number of users and transaction amounts continuing to rise.

Regarding the expansion of operating losses, Wemade explained that "increases in sales-linked costs such as market commissions and higher labor costs due to business expansion had an impact."

This year, Wemade plans to focus its efforts on ▲ stable global service of 'Night Crow' and new game releases ▲ preparation for the Chinese service of 'Mir4' and 'MirM' ▲ securing the popularity of platform services based on WEMIX 3.0.

Next month, Wemade will launch the global service of 'Night Crow,' which implements multi-tokenomics using blockchain technology, and introduce 'Fantastic4 Baseball,' a real baseball game featuring live-action characters. Development is also underway for 'Legend of Imir,' a major MMORPG highly anticipated in the second half of the year.

Wemade is also accelerating its business in China. In December last year, 'MirM' obtained a Chinese game license and is currently in the final stages of publisher selection. Preparations for the Chinese service of 'Mir4' are also progressing rapidly.

Additionally, Wemade is intensifying its push into the Middle East, centered on the United Arab Emirates (UAE). Through meetings with the Dubai Chamber of Commerce, it has established a close collaborative relationship for blockchain business. Furthermore, it is actively expanding the WEMIX ecosystem by signing a partnership with the Innovation Hub of the Dubai International Financial Centre.

Jang Hyun-guk, CEO of Wemade, stated, "In 2024, Wemade plans to further expand the utility of the utility coin WEMIX, striving to secure convenience and popularity," adding, "We will build a sustainable growth structure for blockchain platform sales, which have been on a significant upward curve since the second half of last year."

Meanwhile, subsidiary Wemade Max recorded annual sales of 69.8 billion KRW, operating profit of 3.8 billion KRW, and net profit of 6.4 billion KRW last year. In the fourth quarter, sales were 17.7 billion KRW, operating loss was 1.2 billion KRW, and net profit was 1.4 billion KRW.

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