ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Cryptocurrencies

South Korea's Wemade bets on crypto to revive gaming fortunes

Rivals scramble to follow suit as play-to-earn title draws millions of users

Founder and Chairman Park Kwan-ho expects income from Wemade's blockchain ecosystem "to far outgrow our game revenue once the platform is full-fledged." (Photo courtesy of the company)

TOKYO -- Wemade, a 21-year-old South Korean gaming company, is doubling down on cryptocurrency-based games now that one of its titles has become a global hit, a signal of how conventional companies are racing to go crypto despite business model uncertainty.

In "Legend of Mir 4," an MMORPG (Massively Multiplayer Online Role-Playing Game), players can earn items that can be exchanged for cryptocurrency. Since its release in 170 countries in August, it has reached 2 million monthly active users. On one day in October, 1 million users were playing the game at the same time, according to the company.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more