For WEMADE, 2023 was a year of extremes, marked by numerous ups and downs.
The most significant crisis unfolded with WEMIX. The discontinuation of trading support for WEMIX by the Digital Asset Exchange Collaborative (DAXA) at the end of last year had far-reaching consequences. Consequently, WEMIX's price plummeted to the low $900s, indicating a substantial blow.
However, the company’s turnaround began in February when it was relisted on Coinone, a DAXA-affiliated exchange. WEMIX's price surged back into the $2,000 range, indicating a stabilization of its business operations.
Then, the CoinGate issue, initiated by a member of the National Assembly, cast a shadow over WEMADE. The CoinGate fact-finding team, composed of parliamentary members, visited WEMADE, drawing attention in an attempt tp clarify misunderstandings about the controversy.
In November, interest was heightened further as GOPAX, a DAXA-affiliated exchange, relisted WEMIX. Additionally, to restore trust in WEMIX, all of Jang Hyun-kook's salary was paid by WEMIX.
Moreover, WEMIX continued its overseas expansion efforts. Starting with the establishment of a subsidiary for addiction and its entry into North Africa, WEMIX went on to be listed on India's largest exchange, as well as signing an MOU with the Saudi Ministry of Investment, and establishing a cooperative relationship with the Dubai Chamber of Commerce and Industry in the United Arab Emirates. As a result, as of June 6, WEMIX's price has reached around 3,600 won, marking the highest price point this year.
Despite the tumultuous journey for WEMIX, positive developments have occurred in other sectors. Firstly, in the gaming sector, the success of "Night Crows" was prominent. Launched domestically in April, "Night Crows" achieved outstanding results among this year's new releases and multiple games, including "Mir M," were showcased for the global market through the WEMIX Play platform.
Encouraging news also surfaced regarding the licensing of "Mir's Legend 2." After multiple legal disputes, agreements were reached with several Chinese gaming companies. Notably, a licensing agreement was reached with Actoz Soft and a total of 500 billion won was received. Consequently, the path has been cleared for the entry of "Mir 4" and "Mir M" into the Chinese market.
The company’s investment activities also yielded positive results. In October, the sale of Shiftup shares brought in 80 billion won from an initial investment of 10 billion won. Additionally, a strategic alliance with SK Planet led to a 35 billion won equity swap investment.
In the upcoming year, WEMADE is planning to intensify its focus on the gaming and WEMIX business. First, a global version of "Night Crows" will be released with the aim of surpassing the domestic achievements. WEMADE is confident of the global success of "Night Crows." Based on this, efforts will be made to solidify the position of WEMIX Play as a blockchain gaming platform and concentrate on expanding the WEMIX ecosystem.
A new product unveiled at GigaStar 2023 will also be launched. The baseball game "Fantastic 4 Baseball" is scheduled for release in the first quarter of next year, while the MMORPG "Legend of Ymir" is set for release in the third quarter of next year.
Additionally, the company plans to demonstrate sustainable growth with the regional launch of "Mir 4" in Q2 and "Mir M" in Q4. Furthermore, a console universe game named "This Means War," developed in collaboration with Microsoft, will be unveiled after the preparations are complete.
Based on these achievements, the securities market predicts that WEMADE's revenue will surpass 1 trillion won for the first time next year. Additionally, expectations are high for its operating income and net income to return to positive figures, achieving an overall stable performance.
김태만 기자 ktman21c@gamevu.co.kr