WEMIX

WEMIX Dollar

<p>South Korean gaming company and blockchain giant Wemade <a href="https://dart.fss.or.kr/dsaf001/main.do?rcpNo&#61;20230808900309" rel="noopener noreferrer nofollow">disclosed</a> its preliminary consolidated financial statements for the second quarter of this year, revealing an all-time high quarterly revenue of 159.3 billion KRW ($121 million). Despite this revenue, the company faced challenges, experiencing an operating loss of 40.3 billion KRW and ultimately recording a net loss of 29.4 billion KRW.</p><h2 id="header-0">Night Crows driving revenue growth</h2><p>The Q2 revenue, marking a noteworthy year-on-year growth of 46%, can be attributed to the success of Wemade’s latest mobile game, Night Crows, according to local news outlet <a href="https://newsis.com/view/?id&#61;NISX20230808_0002406927&amp;cID&#61;13008&amp;pID&#61;13100" rel="noopener noreferrer nofollow">Newsis</a>. This massively multiplayer online role-playing game (MMORPG) gained substantial traction since its launch in April. Drawing from this success, the game publisher has strategic plans to take Night Crows a step further by developing a blockchain version, with intentions to present it to global gamers within the current year.</p><h2 id="header-1">More games under development</h2><p>Expanding beyond Night Crows, Wemade is actively working on the development of other captivating gaming titles. These include Legend of Ymir, a game inspired by Norse mythology, and This Means War, a massively multiplayer online first-person shooting (MMOFPS) game.</p><p>With a keen focus on blockchain ventures, Wemade is making significant strides in this domain. In May, the company <a href="https://medium.com/&#64;coinness.gl/wemade-signs-mou-with-hub71-to-expand-wemix-ecosystem-in-the-uae-378f54d338dc" rel="noopener noreferrer nofollow">forged a meaningful partnership</a> by signing a memorandum of understanding (MOU) with Hub71, a prominent global tech hub based in the United Arab Emirates (UAE). Hub71 is undertaking initiatives aimed at nurturing Web3 startups and fostering the growth of blockchain technologies. Moreover, Henry Chang, Wemade’s CEO, <a href="https://medium.com/&#64;coinness.gl/wemade-ceo-encourages-japanese-game-developers-to-embrace-blockchain-93ecbc09f5d5" rel="noopener noreferrer nofollow">attended WebX</a>, the annual Japanese Web3 conference held in Tokyo last month, to call for game developers in Japan to participate in the burgeoning blockchain industry.</p><p>Chang stated that capitalizing on its technological prowess, Wemade is actively identifying various business opportunities amid the rapid expansion of the global blockchain sector. He emphasized that the company is carefully preparing to make a seamless introduction of the blockchain version of Night Crows this year. According to Chang, Wemade is committed to investing in the creation of new games while strengthening the WEMIX ecosystem. A key element of this ecosystem is the WEMIX token, which supports three pivotal services: blockchain gaming platform WEMIX PLAY, DAO-driven NFT platform NILE, and decentralized finance service WEMIX.Fi.</p>

Wemade Reports Loss of $30.6M Despite All-Time High Quarterly Revenue

Table of Contents

CoinNess Global

Other articles published on Aug 8, 2023

Monthly Wrap-Up July 2023: Video Releases, Tech Updates & More

PayPal’s Stablecoin Could Push Bitcoin to $250,000 and Ethereum to 10x Growth

VeChain Aims To Revolutionize Food Industry, DigiToads Investors To Reap Massive Rewards After Pr...

Apple, Nvidia, Intel, and Others Interested in Arm’s Upcoming Blockbuster IPO

PYUSD: PayPal USD Stablecoin Is On The Rise

Bitdeer completes its Bhutan mining facility

Join our free newsletter for daily crypto updates!