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WeMade Entertainment

WeMade Co., Ltd., formerly known as WeMade Entertainment Co., Ltd., is a South Korean and publisher founded in 2000 by Park Kwan-ho and headquartered in Seongnam, Gyeonggi Province. The company specializes in online and mobile games, with a focus on massively multiplayer online role-playing games (MMORPGs), and has grown into a global entity operating across Asia, North America, and Europe. Initially established to create innovative digital entertainment, WeMade gained prominence in the early through its Legend of Mir series, starting with Legend of Mir 2 launched in in March 2001 and in in November 2001, followed by Legend of Mir 3 in 2002. Key milestones include listing on the stock exchange in December 2009, celebrating its 10th anniversary in February 2010, and acquiring in July 2010 to expand its portfolio. The company rebranded to WeMade in March 2019 and marked its 25th anniversary in February 2025, reflecting two decades of contributions to the gaming industry, including awards such as the Special Prize at the Korea Cultural Content Export Awards in 2004 and Korea Game Awards for titles like ChangChun Online (2007) and NIGHT CROWS (2023). WeMade's notable titles encompass the enduring Legend of Mir franchise, including MIR4 (launched in Korea in November 2020 and globally in August 2021), MIR5 (upcoming in late 2025), and Legend of Ymir (relaunched with integration in February 2025), alongside other successes like NIGHT CROWS (Korea launch in April 2023, global in September 2024). These games have driven the company's reputation for high-quality MMORPGs, with MIR4 achieving significant global traction and contributing to revenue growth through player-owned economies. Acquisitions such as SUNDAYTOZ in December 2021 and MADNGINE in September 2024 have further diversified its and development capabilities. In recent years, WeMade has pioneered the integration of blockchain technology into , founding WEMADE Blockchain in February 2018 and launching the WEMIX platform in October 2020 to enable secure, player-centric ownership. This evolution culminated in the WEMIX 3.0 mainnet in October , which features high compatibility, fast transaction speeds, and reduced fees, alongside initiatives like WEMIX PLAY (launched March ) for enhanced experiences and Wepublic (July 2023) for blockchain-based social governance. However, the WEMIX platform has faced significant controversies, including delistings from major South Korean exchanges in –2023 and 2025 over concerns about reserves and practices. As of 2025, the company continues to innovate through partnerships, such as with in March 2025, and new releases like Midnight Walkers (upcoming in November 2025), positioning itself at the forefront of and .

Overview

Company profile

WeMade Co., Ltd. (commonly known as ), formerly known as WeMade Entertainment Co., Ltd., is a South Korean and publisher specializing in massively multiplayer online games (MMORPGs), titles, and blockchain-integrated experiences. The company operates under the corporate philosophy of "," which underscores its commitment to and boundary-pushing in both traditional and emerging technologies. Listed on the exchange under stock code 112040 since 2009, WeMade Entertainment maintains a of approximately 918 billion KRW (about $0.64 billion USD) as of November 2025. In its Q2 2025 financial report, the company recorded revenue of 116.8 billion KRW, reflecting its ongoing focus on global game distribution and initiatives. As of mid-2025, WeMade Entertainment employs around 500 people and extends its operations primarily from its headquarters in , , with a global footprint supported by partnerships across , , , and the for game distribution and blockchain ecosystem development. The company has transitioned into gaming through its WEMIX platform, enabling player-owned assets in titles like MIR4.

Leadership and headquarters

WeMade Entertainment is led by CEO and Chairman Park Kwan-ho, who also serves as Chairman of the Board, guiding the company's strategic initiatives in and integration. Park, the founder, assumed the CEO role in March 2024, succeeding Jang Hyun-guk, to consolidate amid the company's evolution toward blockchain-based gaming ecosystems. Key executives include Executive Director Choi Jong Goo, who oversees strategic planning and heads Wemade Co., Ltd., contributing to global expansion efforts. The board of directors comprises a mix of executive and independent members to ensure robust governance. Independent directors include Kim Young Ho, a former government official and senior advisor at Shin & Kim LLC; Lee Seon Hye, a professor at ; and Lee Hyun Chul, former CEO of Korea Money Brokerage Co., Ltd., who chairs the alongside Kim and Lee Seon Hye. This structure, refined post-2019 restructuring to support the pivot, emphasizes compliance and innovation under Park's direction. The company's global headquarters is located at WEMADE Tower, 49 Daewangpangyo-ro 644beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, , serving as the central hub for development and operations. In the United States, WeMade Entertainment USA, Inc., established in , operates from offices in the area, focusing on Western market expansion including and the , led by CEO Kisung Kim. Regional operations extend to , with an office at 838 Jiangning Road, , dedicated to localizing titles like the series for the Asian market. These locations enable coordinated leadership in pursuing blockchain-driven strategies across key regions.

History

Founding and early years (2000–2009)

WeMade Entertainment was founded on February 10, 2000, by the original developers of The Legend of Mir, spun off from Actoz Soft amid ongoing copyright disputes over the rights to the game series. The company name "WeMade" was chosen to reflect the challenges faced during the legal battles with Actoz Soft, their former publishing partner, which had accused the developers of infringement in licensing the game to Chinese publishers. This separation allowed the team to independently develop and publish subsequent titles in the Legend of Mir franchise, focusing on the (MMORPG) genre that had gained traction in . The company's early success hinged on the rapid development and launch of sequels to The Legend of Mir. In March 2001, WeMade released Legend of Mir 2 in , followed by its launch in in November 2001, where it quickly became a , attracting millions of players and establishing WeMade as a key player in the regional gaming market. Building on this momentum, Legend of Mir 3 launched in in January 2002 and expanded to in August 2002, further solidifying the series' dominance and contributing to WeMade's revenue growth through licensing and operations. These releases marked WeMade's entry into international markets, particularly , where the games' fantasy themes and social features resonated strongly with online gamers. By 2004, WeMade's export achievements were recognized with the Special Prize and Export Contribution Prize at the Korea Cultural Content Export Awards in December, highlighting the company's role in promoting games abroad. In summer , to facilitate entry into Western markets, WeMade established its U.S. headquarters, WeMade Entertainment USA, Inc., in the area as a wholly owned focused on and localization. The year 2009 capped this period of growth with WeMade's listing on the in December, providing capital for further expansion, alongside the launch of Legend of Mir X that same month, which introduced updated graphics and mechanics to the series. Early efforts in during this era also laid the groundwork for the later formation of the WeMade team.

Expansion and acquisitions (2010–2019)

In February 2010, WeMade Entertainment celebrated its 10th anniversary, marking a decade since its founding and reflecting on its growth as a key player in the South Korean gaming industry. This milestone came shortly after the company's listing on the exchange in 2009, underscoring its transition from a startup to a publicly traded entity focused on MMORPG development. Later that year, in July 2010, WeMade acquired , a prominent publisher known for titles like , to strengthen its capabilities in mobile and online gaming distribution. This acquisition expanded WeMade's portfolio by integrating Joymax's global publishing expertise with its own development strengths, laying groundwork for diversified game offerings. The move was part of broader efforts to consolidate resources amid growing competition in the online gaming sector. By 2014, WeMade received the Outstanding Company for Social Contributions award at the Korea Game Awards, recognizing its initiatives in and industry impact during the ceremony held on November 20. This accolade highlighted the company's evolving role beyond game development, including contributions to social welfare programs. In 2015, WeMade underwent internal restructuring by renaming its subsidiary WEMADE CREATIVE to WEMADE , aiming to streamline operations and focus on innovative . This was followed in February 2016 by the founding of three new subsidiaries: WEMADE NEXT, dedicated to next-generation game development; Ivo Games, focused on casual and mobile titles; and WEMADE PLUS, supporting enhanced experiences. These entities were established to foster and diversification within the company's structure. As part of ongoing preparations for , WeMade founded its blockchain division, WEMADE Blockchain, in February 2018, later renaming it to WEMADE Tree in 2018 to emphasize sustainable initiatives. Culminating this period of expansion, WeMade Entertainment rebranded to WEMADE in March 2019, signaling a shift toward a global, technology-driven identity that encompassed gaming and integration. This renaming reflected internal consolidations and positioned the company for future innovations, with prior acquisitions like contributing to a robust foundation for subsequent titles.

Recent developments (2020–present)

In November 2020, WeMade Entertainment launched the MMORPG MIR4 in , marking a significant step in its blockchain-integrated gaming strategy. The game expanded globally on August 26, 2021, across 170 countries and 12 languages. In December 2021, the company acquired a 100% stake in mobile game developer SUNDAYTOZ for approximately 100 billion KRW to diversify its portfolio and bolster the WEMIX platform. SUNDAYTOZ was subsequently renamed Wemade Play in July 2022. In 2022, WeMade advanced its ecosystem by launching the WEMIX3.0 mainnet on October 20, enabling enhanced scalability and for its services. The company also merged with its WEMADE Tree in March 2022 to consolidate blockchain operations and strengthen game development capabilities. WeMade released the cross-platform MMORPG NIGHT CROWS in on April 27, 2023, utilizing Unreal Engine 5 for high-fidelity graphics. The title earned Third Prize for Best Game at the 2023 Korea Game Awards in November 2023. Its global version launched on March 12, 2024, in 170 countries, excluding and due to local regulations on games. In 2024, WeMade acquired MADNGINE, the developer of NIGHT CROWS, through a merger to integrate advanced game development expertise. In February 2025, WeMade celebrated its 25th anniversary since founding, unveiling a new corporate philosophy "" to emphasize bold innovation in and . The company formed a with in March 2025, signing a cooperation agreement on March 18 to integrate MIR5 with and explore AI enhancements like adaptive boss mechanics. WeMade launched Legend of , a blockchain-powered MMORPG inspired by , in on February 20, 2025, where it quickly topped Google Play Store rankings. The game went global on October 28, 2025, across PC and mobile platforms in multiple regions, emphasizing Web3 features such as in-game asset ownership via WEMIX. In September 2025, WeMade announced the upcoming Steam launch of The Midnight Walkers, a zombie survival extraction shooter developed by WeMade Max's One Way Ticket Studio, scheduled for November 21, 2025. Looking ahead, WeMade is developing sequels including MIR5 and NIGHT CROWS 2, with releases planned for 2026. Recent titles like MIR4 and NIGHT CROWS incorporate elements through the WEMIX platform for player-owned economies.

Games

Legend of Mir series

The Legend of Mir series originated as a groundbreaking 2D developed by WeMade Entertainment, drawing inspiration from ancient and traditions to create a K-Fantasy world blending East Asian aesthetics with immersive storytelling. At its core, the series introduced innovative mechanics such as real-time combat emphasizing strategic player-versus-player (PvP) engagements, robust guild systems fostering clan alliances and territorial conflicts, and dynamic item trading that drove player-driven economies. These elements, rooted in the early online gaming era, set new standards for social interaction and progression in MMORPGs, moving beyond Western fantasy tropes to highlight lore and faction-based narratives. The series played a pivotal role in the early founding of WeMade Entertainment, establishing its reputation as a pioneer in the genre. The franchise evolved across multiple titles, beginning with The Legend of Mir 2 in 2001, which utilized a sprite-based isometric view to deliver accessible yet deep exploration and combat in a persistent online world. This was followed by The Legend of Mir 3 in 2002, which enhanced graphics with sharper visuals and a broader landscape, introducing refined battle systems, expanded quests, and richer content to deepen the fantasy experience while honoring its predecessor's roots. A significant adaptation came with Legend of Mir X in 2009, marking the series' shift to platforms with a focus on intensified player-killing () mechanics and optimized controls for handheld devices, broadening accessibility beyond PC gamers. Commercially, the Legend of Mir series achieved remarkable success, amassing over 500 million global users across its iterations and solidifying WeMade's dominance in the Asian market. In particular, The Legend of Mir 2 dominated China, generating approximately $100 million in monthly revenue by 2016—despite being a 15-year-old title—and peaking at $7 million on its best single day, underscoring its enduring appeal in internet cafes and online communities. The series' cultural impact extends to its lasting influence on Asian gaming, where it has remained a beloved staple for over two decades, shaping player expectations for warfare and economic simulation in MMORPGs. Adaptations have sustained this legacy through ports and , including The Legend of : Destiny in 2025, a nostalgic yet updated remake emphasizing authentic progression and features. These efforts, up to 2025, have ensured the franchise's relevance amid evolving platforms, preserving its mythological essence for new generations.

MIR series and MMORPGs

MIR4, released globally in 2021, represents a significant evolution in WeMade's MIR series by integrating blockchain technology into its core mechanics, enabling players to own and trade non-fungible tokens (NFTs) for characters, land, and items on dedicated NFT servers. This MMORPG supports cross-platform play across PC and mobile devices, with a global server architecture that includes features like Wayfarer Travel for inter-server movement and Domination Servers that merge up to 16 realms for large-scale conflicts. The game's economic model revolves around a play-and-earn system where players mine Darksteel in-game to refine into the DRACO token, which can be exchanged via the unified marketplace, fostering a player-driven economy tied to the WEMIX blockchain. Building on this foundation, MIR5 is slated for a late 2025 release in followed by a global rollout, introducing advanced AI-driven elements such as the boss character Asterion, powered by technology to perceive environments, learn from past battles, and adapt strategies dynamically for unique encounters each session. The title expands the through systems like "Fateful Encounter," an adventure mode where players uncover mysteries via hidden clues, enhancing narrative depth while maintaining the series' fantasy roots. Developed by Wemade Next, MIR5 emphasizes open-world exploration with innovative NPC behaviors that respond intelligently to player actions, positioning it as a next-generation MMORPG in the . WeMade's MMORPG portfolio extends beyond the MIR series with Night Crows, launched in 2023 as the company's first title utilizing for hyper-realistic visuals through its lighting system, set in a 13th-century European-inspired world infused with magic and chaos. This blockchain-enabled game incorporates NFT assets via tokens like CROW and MORION, allowing ownership and trading within an in-game economy that generates revenue through marketplace transactions and player interactions. Unique gameplay includes aerial combat via gliders for dynamic battles in the skies, alongside metaverse-like elements such as persistent territories and cross-platform support between mobile and PC for seamless global play. Across these titles, WeMade employs hybrid PvP and PvE systems to balance competitive and cooperative play; for instance, MIR4 features player-versus-player sieges like Bicheon Castle alongside PvE raids against world bosses, while Night Crows offers guild dungeons for team-based challenges and ranked PvP arenas. Economic models emphasize sustainability through , with , staking, and NFT trading enabling real-value exchanges without pay-to-win dominance, as seen in MIR4's Darksteel refinement and Night Crows' token volumes exceeding $26,000 daily in active markets. Localization efforts target Western and markets via multilingual support—such as English, , and simplified Chinese interfaces—and region-specific servers, facilitating launches in over 170 countries to adapt cultural nuances like combat pacing for diverse player bases.

Other notable titles

WeMade Entertainment has diversified its portfolio beyond MMORPGs through action-oriented titles like Riders of Icarus, a fantasy game emphasizing aerial combat and mount taming. Released in 2016, the game features dynamic PvP and PvE battles where players ride mythical creatures in open-world environments, distinguishing it with its focus on flight mechanics and creature collection. The service operated globally until its shutdown announcement in early , marking nearly a decade of operation and highlighting WeMade's capability in sustaining international online titles. Through acquisitions and partnerships, WeMade incorporated notable IPs such as Digimon Masters Online, initially planned for English release by WeMade in 2010 before shifting to Joymax as publisher, with WeMade later securing global licensing rights in 2021. This MMORPG allows players to raise and battle Digimon in real-time combat, expanding WeMade's reach into licensed anime-based gaming. Additionally, casual mobile hits like WIND runner from subsidiary Wemade Max emerged as popular endless runners, amassing over 60 million downloads worldwide with simple jump-and-run mechanics and daily challenges. In recent years, WeMade has ventured into non-MMORPG genres with upcoming projects like Black Vultures: Prey of Greed, a tactical set in a resource-scarce warzone, featuring choice-driven missions and multiplayer extraction gameplay. Scheduled for release in 2026 following Steam playtests, it represents WeMade's push into competitive titles developed by THISMEANSWAR. Similarly, TAL: The Arcane Lands, an open-world action inspired by and the Dynasty, is slated for 2027 launch on consoles and PC, emphasizing immersive narratives, strategic combat, and 5 visuals in a single-player format. WeMade also plays a significant role in publishing third-party games and mobile adaptations via platforms like WEMIX PLAY, onboarding titles such as strategy RPGs from 2TG Entertainment and blockchain-integrated experiences from partners like MYSTiC Games. This includes mobile ports of existing IPs and original casual games, broadening accessibility and integrating elements for . Integration with subsidiaries like Wemade Play facilitates these efforts, supporting diverse genres from racers to tactical shooters.

Subsidiaries and eSports

Key subsidiaries

WeMade Entertainment's key subsidiaries play pivotal roles in its game development, publishing, IP management, and initiatives as of 2025. Among the most prominent is , acquired in December 2021 as SundayToz Corp. for approximately KRW 100 billion and renamed in July 2022. This subsidiary specializes in casual mobile games, including the popular Anipang series, and generates significant revenue through global publishing and social casino titles like Disney Pop Town. Central to IP oversight is WeMade Max, which manages licensing for the flagship Mir franchise and related intellectual properties. Established through the 2010 acquisition and 2021 rebranding of , it coordinates development across multiple studios. Its subsidiaries include MADNGINE, acquired in 2024 to leverage advanced technology for MMORPGs such as Night Crows; WEMADE CONNECT, focused on global game publishing and operations; and LightCON, which supports visual effects and tool development. WeMade Max reported KRW 47.1 billion in revenue for Q1 2025, underscoring its contributions to the parent company's ecosystem. Other active entities include WEMADE NEXT, founded in February 2016 for research and development in blockchain-integrated gaming, notably contributing to titles like MIR4 with NFT and play-to-earn features. Ivo Games, also established in 2016, concentrates on development to expand WeMade's portfolio in accessible, genre-diverse titles. For international reach, WeMade Entertainment USA, founded in 2008, handles Western publishing, localization, and market expansion for PC and s across Europe and the Americas. Notable structural changes include the 2022 merger of WEMADE Tree into the parent company in March, aimed at streamlining publishing and efficiency following its role in launching the WEMIX platform. These subsidiaries collectively enhance WeMade's diversified operations, from casual to innovation, without overlapping into activities.

WeMade FOX eSports team

WeMade FOX was established in September 2006 by WeMade Entertainment as a professional team dedicated to competitive . The team represented a distinctive venture for the company into the burgeoning scene, aiming to leverage competitions to enhance brand visibility. From 2007 to 2011, WeMade FOX operated squads in Counter-Strike, StarCraft: Brood War, and Warcraft III, featuring notable players such as StarCraft stars NaDa, Moon, and Mind, who achieved top global rankings in their disciplines. The organization fielded competitive rosters that participated in major Korean leagues and international tournaments, earning approximately $379,900 across 87 events. The team's achievements included multiple victories in domestic competitions, such as the 2007 GOMTV MSL Season 3 title won by player in StarCraft: Brood War and the 2010 World Masters triumph in against . These successes helped promote WeMade Entertainment's titles, including the Mir series MMORPGs, by associating the company's intellectual properties with high-profile events and player endorsements. Beyond competition, WeMade FOX contributed to the growth of Korean by nurturing talent and participating in league structures like the KeSPA Proleague. In August 2011, WeMade FOX disbanded amid shifting company priorities toward core game development and declining sponsorship viability in the StarCraft: Brood War era. The team's players were transferred to KeSPA for reassignment, marking the end of operations on August 31. Its legacy persists as a pioneering effort in culture, influencing the professionalization of multi-game organizations during the mid-2000s boom.

Blockchain initiatives

WEMIX platform

The WEMIX platform, developed by WeMade Entertainment, was initially launched in October 2020 as a ecosystem designed to facilitate gaming rewards and (NFT) functionalities within the gaming industry. This initial iteration served as a foundation for integrating technology into WeMade's game titles, enabling players to earn and trade digital assets directly tied to in-game achievements. The platform emphasized seamless reward distribution and NFT ownership to enhance player engagement in virtual economies. In 2022, the platform underwent a significant upgrade with the release of the WEMIX 3.0 mainnet on October 20, marking a shift to a high-performance, independent network. Key features of WEMIX 3.0 include over 4,000 transactions per second () for scalability, low gas fees to minimize transaction costs, full Ethereum Virtual Machine (EVM) compatibility for developer accessibility, and multi-chain support through a that bridges various blockchains. These enhancements were powered by a Stake-based (SPoA) consensus mechanism, secured by 40 Node Council Partners, prioritizing security and decentralization. The WEMIX token serves as the native utility asset within the ecosystem, supporting staking for , participation via on-chain voting, and integration into in-game economies for purchases and rewards. As of November 2025, the token has a maximum supply of 590 million WEMIX, with approximately 458 million in circulation, reflecting ongoing adjustments for deflationary mechanisms and ecosystem growth. WEMIX integrates with WeMade's games through dedicated NFT marketplaces on the WEMIX PLAY platform, enabling play-to-earn models where players can mint, trade, and utilize NFTs derived from . For instance, in titles like MIR4, users convert and list in-game character NFTs on the mainnet, fostering a unified . This integration supports cross-chain NFT transfers and enhances player ownership without disrupting core .

Partnerships and projects

WeMade Entertainment has expanded its WEMIX ecosystem through strategic partnerships focused on and integrations. In 2023, the company announced the onboarding of over 100 games to WEMIX PLAY, its , encompassing diverse genres such as RPGs, simulations, and social network games from global developers. This initiative included titles from North American studios like Liithos (Ashfall), PM Champions (Roshpit Champions 2), and Hit Factor (Glimmer Peak), as well as Middle Eastern developers such as those from the , including INFTY ART FZ-LLC and Ritmi Games FZ LLC for and rhythm-based experiences. A notable blockchain governance project within the ecosystem is Wepublic, launched in July 2023 as a transparent platform for community decision-making, donations, and Decentralized Autonomous Organizations (). Wepublic enables verifiable tracking of funds and activities through , addressing social issues like transparent giving and organizational management, with updates announced in 2023 and Wepublic 2.0 launched in February 2024 for broader DAO services accessible to individuals and groups. In 2025, WeMade launched the "Transparent Giving Alliance" on Wepublic to facilitate social contributions with blockchain-backed accountability. Key partnerships have further propelled WEMIX's growth in AI and Web3 gaming. In March 2025, WeMade signed a cooperation agreement with to integrate technologies, including for autonomous game characters and boss monsters like Asterion in MIR5, enhancing gaming experiences on platforms like . Earlier, in 2023, WeMade formed strategic deals with Hit Factor for integrations in titles like Glimmer Peak and invested in Epic League to support -based eSports and gaming communities. As of November 2025, WEMIX PLAY continues to expand its lineup with new titles and s in promising projects. WeMade participated in seed funding for METACENE, a racing game emphasizing player-owned assets, and made a strategic in Shardeum, a scalable , to bolster in ecosystems. These efforts have not been without challenges, particularly regulatory hurdles in . In late 2022 and 2023, WEMIX faced a delisting scare from major exchanges under the Digital Asset Exchange Association (DAXA), stemming from concerns over token supply transparency and allegations, leading to a temporary suspension of trading support. WeMade responded with legal actions, including antitrust complaints against exchanges, and initiatives such as ecosystem relistings on platforms and enhanced measures to restore and stabilize the token. In 2025, a second delisting occurred following a incident in February that resulted in the theft of approximately $6.2 million in WEMIX tokens (8.6 million tokens), with delayed disclosure cited as a key issue; trading ceased on major Korean exchanges starting June 2, 2025, and courts upheld the delisting decisions on May 30 and October 2, 2025. Despite this, the token continues trading on exchanges, and WeMade has implemented measures including coin buybacks and a focus on global partnerships to mitigate domestic pressures and support ecosystem growth.

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