[Pangyo Game & Contents] Wemade Making a “Key Currency” of PC Games

Wemade, a South Korean game maker, which changed public perception on blockchain-based games with its online game Mir4, began to work for securing the status of key-currency in the PC game industry through its game-platform, Wemix. The game maker is planning to distribute SDK, a game-based blockchain software development kit and establish an exchange center where integrated transactions are possible. By the end of next year, around 100 blockchain-based games will be uploaded to Wemix.

Wemade CEO Chang, Hyun-guk said on November 3rd that “the goal of Wemix is becoming a gaming blockchain as well as a key currency of PC games” adding “utility coins will be the only ones that survive out of the numerous coins in the market”.

The South Korean game maker came into prominence in the global market with its Mir4, where NFTs were incorporated. This was because Mir4 was the first large-scale game that generated meaningful outcomes with NFTs whereas most of blockchain-based PC games so far have been of lower quality. The number of gamers of Mir4 right after its launch was over 800 thousand. The figure is on a par with a record that the game maker’s cash cow, Mir2 attained in 2005. Wemade’s stock price hit 190 thousand KRW earlier this month, up from 38 thousand earlier this year.

Blockchain games are different from other PC games. Blockchain based PC games allow users to generate income from them while other types of game don’t. Conventional PC game makers monopolize income from their work by not giving in-game items to users but lending them.

Dark Steel, a currency for enhancing items in Mir4 is the one that is related to NFT. The currency can be changed to Draco, a virtual asset as well as utility coin, for trades on Wemix. The platform plans to add more NFT-related items going forward.

Wemade is to expand a relevant ecosystem by providing developers and game makers with open SDK where game tokens and NFTs can be adopted to their games. Wemade will open Wemix platform game coin and NFT exchange center. All game coins and NFTs will be traded in a single integrated exchange center. It is planned to release 100 PC games on the platform by the end of 2022.

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

Source: Pangyo Techno Valley Official Newsroom 

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