Wemade's anticipated multiplayer online role-playing game (MMORPG) 'Legend of Emir' will be released tomorrow. With Wemade having spent over four years developing it, attention is focused on whether it will satisfy users. In particular, there is hope that the coin system utilizing blockchain technology could set a new paradigm in the gaming industry. Since 'Legend of Emir' aims to dominate the domestic market, its performance is expected to impact Wemade's future financial improvements.
◇ Attention on coin system through blockchain
According to the gaming industry on the 19th, Wemade began pre-downloading 'Legend of Emir' starting that day. Users can pre-download both the PC and mobile versions from the official 'Legend of Emir' site, Google Play, and the Apple App Store. The official service is expected to begin at noon on the 20th. This game is an MMORPG developed by Wemade over four years. It encompasses the story leading up to the world's end, known as 'Ragnarok,' set in a Norse mythology backdrop. Utilizing Unreal Engine 5, all artistic elements, such as character costumes, architecture, and landscapes, are depicted in hyper-realistic detail.
Players can enjoy the game by choosing their desired weapon and combat style from a total of four classes: ▲ 'Berserker' who wields an axe and shield on the front lines, ▲ 'Skald' who buffs allies with a mini harp, ▲ 'Volva' who neutralizes enemies, and ▲ 'Warlord' who swiftly approaches enemies to dominate the battlefield with a spear. While automatic combat occurs by default, there are numerous contents available for manual play.
The implementation of an economic system applying blockchain technology, which is one of Wemade's strengths, is cited as a distinct feature of this game. The in-game economy revolves around coins, which are a type of virtual currency. Coins are required materials for crafting and enhancing top-tier gear. Wemade has limited the total issuance amount and issuance time of coins to encourage users to maintain item value. Top-tier items are made as Non-Fungible Items (NFI), which are tamper-proof. Each NFI is assigned a unique number that discloses item information, including the IDs of all past owners and creation dates, to everyone. Users can verify item information in the blockchain-based databases.
Furthermore, a governance system based on blockchain technology has been introduced, allowing users to directly participate in game operations. Governance is a decision-making system for common goals, where users can participate in voting with governance coins, which are obtained by staking general coins. Through voting, users can decide on in-game events, content policies, server matching targets, and representatives.
◇ 'Exam stage' for Park Kwan-ho's first major work upon return
'Legend of Emir' holds significant meaning as it is the first major self-developed project showcased since Chairman Park Kwan-ho's return to management. Park noted that he intends to fill the gap left by former CEO Jang Hyun-guk, who led the 'Wemix' blockchain project, and aims to open a new horizon for blockchain MMORPGs with 'Legend of Emir.' In a recent New Year's address, he stated, "This year will be a crucial turning point in preparing for new leaps," adding, "We will solidify our position in the global market by opening new possibilities through the convergence of the game and blockchain businesses."
'Legend of Emir' is increasingly playing a crucial role as the virtually only major title expected to drive Wemade's performance this year, following last year. Wemade recorded sales of 712 billion won and an operating profit of 8.1 billion won last year. Compared to the previous year, sales increased by 18%, and the operating profit was back in the black. Annual sales have broken records for maximum sales in the past four years since 2021.
However, considering that the second payment of 50 billion won for the licensing contract for the Chinese market, which was expected in the first quarter, was reflected early in the fourth quarter, and the disposal gains from the investment stocks of affiliated companies due to the consolidation with Mad Engine, the sustainability of this profitable structure remains uncertain. This underscores the urgent need for the success of 'Legend of Emir.'
Kim Sang-won, Executive Vice President of Wemade, said, "'Legend of Emir' is the result of long-accumulated game development know-how and blockchain game syntax," and added, "We will provide an innovative gaming experience through high immersion and a differentiated economic system, presenting a new in-game economic model that goes beyond the limitations of domestic MMORPGs."