Today we are going to start explaining the top 200-300 projects. The top 200 projects are basically finished. If there are some new projects in the future, we will also analyze them. Today we will talk about a Korean blockchain game platform. The recent growth is still very good. In the past month, it has also increased by 60%, from 1.7 to the current 2.7. The current market value is 900 million US dollars, ranking 212th in market value. It increased 100 times in the last bull market. It is a series of 100-fold coin projects. It is also because they caught up with the great opportunity of blockchain games in the last bull market. In the last bull market, it increased from the lowest 0.16 to 22 US dollars, an increase of 137 times. So can it increase 100 times in this bull market? Let's analyze it today.
Introduction
WEMIX is a blockchain gaming platform developed by Wemade Tree. WEMIX is a digital currency based on blockchain technology. It is the native token of the WEMIX ecosystem and is used for transactions and payments on various gaming platforms. The WEMIX ecosystem is a "super ecosystem" consisting of multiple Web 3.0 platforms, which provides a decentralized blockchain protocol based on experience, platform-driven and service-oriented. The protocol is a high-performance open source protocol compatible with the Dafang Virtual Machine (FVM) and adopts its proof of stake (SPOA) recognition mechanism. The protocol claims to provide the highest security while ensuring high transaction speeds (TPS), based on decentralized governance of 40 Node Committee Partners (NCP). Consensus will gradually achieve full decentralization through multi-stage democratic governance.
WEMIX was founded by WEMADE TREE (now Wemix PTE. LTD,), a subsidiary of WEMADE, a well-known game developer. WEMIX is a blockchain gaming platform founded in 2018 that serves a variety of games and connects the in-game and real-world economies through token economics.
In August 2021, WEMADE launched its flagship title "MIR4" on the WEMIX platform, triggering an unprecedented paradigm shift in the gaming industry. "MIR4" has achieved unprecedented success within four months of its launch, with more than 1.4 million concurrent online users and 20 million cumulative registered users from more than 170 countries around the world. WEMIX coin has since become a leader in the Play and Earn (P&E) market. On October 20, 2022, WEMADE released WEMIX 3.0, its own independent blockchain network, to further enhance the super ecosystem and establish WEMIX coin as a key currency in the blockchain industry.
WEMIX's ecosystem includes:
WEMIX Play: claims to be the world's largest and fastest play-to-earn (P&E) gaming platform, bringing together a variety of games from around the world, integrating the "payment" element into the experience loop of global players
WEMIX Wallet (WEMIXFI): A secure, convenient and multi-functional decentralized wallet that supports multiple cryptocurrencies and provides cross-chain transactions, lending, staking, asset management and other services.
WEMIX NFT (NILE): An NFT platform focusing on the gaming field, providing NFT creation, issuance, trading, display and other functions, and supporting multiple NFT standards and protocols.
WEMIX Metaverse (PAPYRUS): PAPYRUS is both a blockchain token-based communication platform and a massive community that connects people participating in the WEMIX ecosystem. Whether it’s the same DAO, game, NFT or fan token - holders of the same token can chat and build rapport on this platform. Join the various channels created for each token and chat with like-minded peers.
WEmade
Wemade is a world-renowned multinational company that develops and distributes online and mobile games, and is the first generation of gaming companies in South Korea.
Branches are spread all over the world, including China, the United States, Japan, the Philippines, etc.
The online games and mobile games developed by the company have won many awards in South Korea, China and internationally.
Its stock was listed on the KOSDAQ in South Korea in December 2009. In 2012, it signed a cooperation agreement with Kakao Corporation.
It is one of the top companies in the field of development and distribution of Korean games (online games and mobile games). As a world-renowned multinational company that develops and distributes online and mobile games, its games are distributed all over the world. In the early days, it operated popular IP games such as "Legend" and "Twin Star Online".
In November 2020, Wemade released the blockchain game "Mir4" in South Korea. Although it did not cause much splash when it was launched, after a year of careful operation, this game has created a new blockchain game ecosystem for Wemade as a breakthrough. It not only turned losses into profits, but also set a record high revenue, winning the turnaround battle in one fell swoop. The success of "Mir4" indicates that Wemade has officially entered the blockchain GameFi and Metaverse market.
In October 2022, Wemade transformed from a traditional game developer to a blockchain game developer. The company announced the official launch of the public chain Wemix 3.0 mainnet, and described the network as "a giant platform-driven, service-oriented ecosystem." In addition, Wemade also has its own NFT auction website and plans to launch its own economic platform that supports NFT and DAO.
At present, the Wemix platform has released a plan to accommodate multiple blockchain games including role-playing games (RPGs) and fishing simulation games. So far, the lineup of games planned to be settled on the platform has exceeded 100, further strengthening its leading position in the blockchain game field.
WEMIX PLAY has signed entry contracts with many game companies from South Korea, North America, the Middle East, and Hong Kong and Taiwan, China, ensuring the continuous updating and diversity of the platform's game content, such as the collection-type RPG game ＜Calypse Chronicle (Danbi Entertainment)＞, the FPS game ＜Black PointBR (ExaV Studios)＞, and the metaverse NFT game ＜Melting Earth (MetaDream)＞.
Currently, Wemix Play offers 36 colorful blockchain games, including MMORPG, strategy simulation, SNG, etc. There are 6 DEFI projects, 10 NFT projects, and 6 dapps. In the future, Wemix plans to launch a dedicated application player "Wemix Player" to enhance the experience of global users.
Financing
According to CoinDesk Korea, Wemade, the operator of the blockchain-based gaming platform WEMIX and a South Korean gaming giant, announced the completion of a strategic financing of 66 billion won (about 46.57 million US dollars) through convertible bonds, with Shinhan Asset Management, KIWOOM Securities and Microsoft participating in the investment.
data analysis
1. Number of platform users: It can be seen that the peak number of users in 24 hours is 300,000.
2. Number of social media followers: He has 150,000 followers on Twitter, and only 10,000 followers on other platforms such as Facebook and Telegram. This number is still not enough and there is a big gap with the number of players officially announced.
3. The on-chain TVL is 19 million US dollars. This data is actually quite average for a public chain.
Token Economy
The total number of tokens is 979,345,391, and 329,547,081 are currently in circulation, with a circulation rate of only 33.6%, which is still relatively low. The current price is $2.77, and the previous peak was $22, so it has fallen by more than 90%. In terms of token distribution, the team + the market took 9+7=16% of the tokens, which is not a lot. Most of it is still in the construction of the ecosystem, and the team has the final say.
Issuance rules: 3% inflation will be applied to the total token supply, and the minted tokens will be distributed to the following accounts: governance partners (50%), WEMIX Ecological Fund (25%) and Maintenance (25%)
Compared with other blockchain game platforms, such as Gala, the current market value is 680 million US dollars, and 52% of it has been unlocked. Currently, among Gala's 18 games, the number of people playing on DIS is 190,000 and on Bluebird is 460,000. Therefore, the actual number of Gala users should be higher than that of Wemix.
Finally, let me summarize this project. This can be seen as the Korean "Gala" blockchain game platform. The purchasing power of Koreans is still very strong, and it is itself a giant of web2 Korean companies. Why did it rise 100 times in the last bull market? In fact, it is because it released the blockchain game of Legend 4. I believe that many people born in the 70s and 80s know the IP of the game Legend. At that time, Shanda China only introduced this game to make Chen Tianqiao the richest man. This shows the money-making ability of this game. Of course, it came out in 21 years, and it was also a rehash, but the picture has indeed improved a lot, and the gold-making studio can also make money, so it has caused a huge increase. So how much can it rise in this bull market? The highest market value in the last bull market was 3 billion US dollars. Even if this bull market reaches the previous high of 24 US dollars per wemix, there will be 10 times the space, and it should actually be higher.
