Blockchain generated $5.4 million of Wemade’s Q1 2026 revenue

While the vast majority of South Korean publisher Wemade’s revenue comes from web2 games, the web3 component is growing significantly. This is highlighted in its Q1 2026 earnings.

• Consolidated revenue was $111 million (KRW 153 billion), down 20% quarter-on-quarter but up 8% year-on-year.
• Operating income hit $6.2 million (KRW 8.5 billion), marking a third consecutive profitable quarter, a notable achievement for a company that was loss-making throughout much of FY2024 and into early FY2025.
• Net income was $14 million (KRW 19.9 billion), boosted by FX-related gains and the recognition of the MIR IP settlement revenue from the KingNet litigation.
• Mobile games remain the dominant single category at $76 million (KRW 105 billion), though this was down 14% QoQ and 21% YoY.
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But blockchain was the standout.

Revenue hit $5.4 million (KRW 7.5 billion), up 17% QoQ and a remarkable 867% YoY. While blockchain represents less than 5% of total revenue, the growth trajectory and margin profile make it increasingly important.

On the earnings call, executive director Changhee Lee was explicit about the strategic shift, stating that Wemade has successfully transformed from a pure game developer into a profitable platform operator.

The key metric he cited was service fees from Legend of YMIR’s in-game trade station, which uses WEMIX as its primary currency, was surged 44% QoQ. This is significant because it demonstrates that WEMIX tokenomics are generating sustainable recurring revenue from transaction fees and NFT trading, not just one-off token sales.

Wemade plans to replicate this model across its pipeline. The upcoming Night Crows IP project, slated for Q4 2026, will integrate the same WEMIX tokenomics structure proven in Legend of YMIR.

With cumulative sales exceeding $543 million (KRW 750 billion), Night Crows stands as a cornerstone IP. Wemade’s management is betting that each new game launch creates a compounding effect for the Wemix ecosystem, more players transacting means more fee revenue, which in turn strengthens the token’s utility.

The geographic spread of blockchain game revenue is also notable. MIR4’s blockchain revenue skews heavily to Asia (61%), with Thailand, Japan and the Philippines as top markets. Night Crows draws 70% from Asia, led by Taiwan and the Philippines. Legend of YMIR pulls 64% from Asia, with the Philippines and Brazil as its top two markets.

Southeast Asia is clearly the growth region, and the WEMIX listing on Coins.ph — a leading Philippine exchange — in March 2026 was a strategic move to deepen access in that market.

Beyond gaming, Wemade is pushing WEMIX into financial infrastructure too. The StableNet testnet launched in January, positioning the company’s proprietary Layer-1 technology as infrastructure for KRW-stablecoins. WEMIX is currently listed on 23 exchanges globally.

Find out more at Wemade’s investors website.

Source: https://www.blockchaingamer.biz/news/42236/wemade-q1-2026-financials/