Wemade said on the 12th that it swung to an operating profit of 8.488 billion won on a consolidation basis in the first quarter, from a loss a year earlier.
First-quarter revenue was 153.3 billion won, up 8% from a year earlier. However, it fell 20% from the fourth quarter of last year (191.7 billion won).
Revenue came to 115.2 billion won from games, 30.5 billion won from licensing, and 7.5 billion won from Blockchain. Game revenue decreased from the previous quarter, but licensing revenue that occurred as the royalty dispute over the "Legend of Mir 2" intellectual property (IP) with China's Kingnet was settled helped support the results.
Revenue from the Blockchain institutional sector continued to grow. As the WEMIX-based economic system of Legend of Ymir, released to the global market in Oct. last year, became more active, it increased 17% from the previous quarter and 867% from a year earlier.
Wemade is preparing more than 20 new titles across various genres, including massively multiplayer online role-playing game (MMORPG), casual, and subculture. In the second half of this year, it plans to release a new title using the Knight Crow intellectual property (IP), followed by rolling out major console blockbusters in sequence, including the first global console flagship "Project TAL." Mir4 and Knight Crow are preparing for release in China.
In the Blockchain business, the company plans to strengthen an organic structure that uses WEMIX as the base currency to activate economic activity among game users and leads to increased platform profitability, while continuously expanding user touchpoints through listings on key exchanges in major countries.