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The stock of a little-known Korean game company has soared into the blockchain technology

Stocks of companies based in Korea Wemade's stock price soared by more than 400 percent, resulting in a market value of around $5 billion. MIR4 has been downloaded more than 1 million times from Google's Play Store, and it generated 11.5 billion won (about $10 million) in revenue in just one month, in September. MIR4 is one of the few games built using blockchain technology, and it was produced by a big game company. As cryptocurrencies become more widely accepted in the mainstream, such games are becoming increasingly popular. Players can earn cryptocurrency by converting in-game things into cryptocurrency assets such as Wemix, which is Wemade's proprietary cryptocurrency.

Other Korean game developers have experimented with the technology in the past, but none have had the same level of success as MIR's founder Park Soo-Hyeon.

Wemade generated sales of 63 billion won (about $55 million) in the third quarter of this year, an increase of 167 percent over the same period last year. The majority of the money comes from users in other countries, particularly in Southeast Asia, Europe, North America, and South America, accounting for 54% of total revenue. Park Yong-Hyeon is a Korean video game developer. Park Tae-Kyung is considered to be a pioneer in the field of blockchain-based gaming in South Korea. He believes that by making the genre more accessible and inexpensive to all gamers, it will become a big component of the overall gaming business.

 

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