Last year, in Wemade’s 3rd quarter conference call, Chang “Henry” Hyun-guk ambitiously said, “We’ll make Wemix the key currency of blockchain games.” If it were a few months ago, people might have thought that it was an absurd idea and laugh, but the past few months were different. Mir4’s global version’s worldwide popularity and the rising price of Wemix made people think that it might really happen. This way, Wemade’s status changed drastically in just a few months.
Wemade was the first gaming company in Korea to lay the groundwork for blockchain, NFT, and P2E games. When many gaming companies jumped in on the blockchain business with the rise of Bitcoin in 2018, Wemade got on board with their subsidiary, Wemade Tree. It was the beginning of blockchain businesses, but the popularity decreased as fast as it came. Bitcoin started to fall starting from 2019 and other cryptocurrencies collapsed as well. The gaming companies that had dipped their feet in the blockchain business started to pull away.
However, Wemade continued on steadily. Obviously, the process wasn’t always easy. Even in 2020, when they started publishing their own cryptocurrency, Wemix, no one really cared about it. It was because no one presented any vision about what changes the blockchain technology will bring to games or what economic effect there will be. Wemix was similar, but that was before they had a game utilizing Wemix.
As Mir4 launched globally, this turned around completely. Mir4 had great success worldwide and Wemix’s value soared high. Seeing that, other Korean gaming companies started to gain interest in P2E games as well.
With the global success, Wemade started to work on making Wemix into the key currency — it’s their onboarding plan on Wemix. They are planning to add 100 games onto the Wemix platform to strengthen Wemix’s position. The outlook is positive. The Korean gaming industry gained a deep interest in P2E games since the success of Mir4, and for the small gaming businesses that can’t really start their own cryptocurrency, getting onboard with Wemix can be a great option. They are the leading company in P2E games, so the conditions are perfect.
Another positive factor is that it’s not only the Korean gaming companies that expressed their interest. Earlier this year, RedFox Games and X-Legend signed with Wemix as well. This means that Wemix’s popularity is global. The path to becoming the key cryptocurrency is getting clearer.
Wemade has been working hard to onboard more games onto the Wemix platform, including more global titles. They will continue to expand to ultimately make Wemix into the key cryptocurrency of blockchain games.