Longtu South Korea's stock price soared nearly 3 times, and the P2E MMO mobile game "Blood Rivers and Lakes" swept Southeast Asia

Review the big events in the history of P2E (Play to Earn) games. Because of its speculative nature and the safety issues exposed by some products, the fate of P2E games after the explosion can be described as a twist and turn.

For example, Korean game companies that show great enthusiasm for P2E games cannot be commercialized in South Korea because of regulatory issues; the leader of P2E games, "Axie Infinity", although it has achieved a transaction volume of 3.485 billion US dollars last year, and even once became a channel for players and studios in the Philippines and other countries to "make money", but it was recently stolen by hackers because of security problems.

However, even if P2E games face various problems in terms of economic model and security, P2E games have a special ability, which is constantly being verified by the market, that is, the ability to drive the stock prices of listed game companies.

On April 1, the P2E game "YULGANG GLOBAL", published by Tigon Mobile, a subsidiary of Longtu Korea, was officially launched. The global reservation volume of the game has exceeded 5 million before the launch, and the enthusiasm of the players after the launch is also proving that this reservation volume is not mixed, and the game in Asia alone has 50 servers, and the North American region has also opened 20 servers, and this number is still rising.

In terms of list ranking, according to data.ai monitoring data, a week after its launch, on April 7, "Blood Jianghu Global Edition" still ranked in the top ten of the Appstore, Google Play game download list and best-seller list in the Philippines, Thailand, Indonesia and other countries and regions, and also squeezed into the top 100 of the role-playing category download list and best-seller list in the major mobile game markets such as the United Kingdom, the United States, and Japan.

The following is the promotional video of "Bloody Rivers and Lakes Global Edition":

It can be said that as a P2E game, the performance of "Blood Jianghu Global Edition" is quite good after the launch, and the good performance of the Philippine and Thai markets also shows that after the security problems of Sky Marvis and the suspension of the "Axie Infinity" transaction, "Blood Jianghu Global Edition" is rapidly seizing the Southeast Asian market with high P2E game popularity.

The successful release of the P2E game, coupled with the fairly good performance after the launch, directly led to the soaring stock price of Longtu Korea. From March 28 before the game was launched to April 6 after the launch, Longtu Korea's stock price rose from 5160 won per share to 12100 won per share, an increase of 134%, if the low point of Longtu Korea's stock price on the 15th of the previous month, 4735 won per share as the benchmark, in three weeks, Longtu Korea's market value increased by 250%.

Collision of ancient MMO and P2E

For many players who have been playing online games since 20 years ago, the name of "Blood River" should not be unfamiliar. The 3DACT game of the same name was launched in South Korea as early as 2003, and soon after, 17Game of that year also obtained the agency distribution rights of the game Chinese mainland, in April 2004, "Blood Jianghu" officially opened public beta in China, and in February 2008, the number of online users exceeded 400,000 at the same time as the game was Chinese mainland, and the registered users also reached 65 million.

In fact, if you want to trace the history of "Bloody Rivers and Lakes", you can go back to 25 years ago, that is, the comic of the same name that was launched in 1994, according to the news of longtu South Korea's official website, the comic has always been one of the best-selling comics in South Korea, with global sales of more than 6 million copies, paid digital version downloads of up to 7 million copies, and the number of paid subscriptions has reached 1 billion times. ”

However, although the IP of "Blood Jianghu" is not small, "Hot Blood Jianghu Global Edition" as an MMO game, in terms of gameplay and system, in terms of gameplay, UI, art, etc., maintains the design of the common MMO mobile game, automatic pathfinding, automatic combat, hang-up hosting and other systems are readily available, which may be in order to match the age group of the ip core audience.

"Blood Jianghu Global Edition" Demo:

It is not difficult to see that Longtu South Korea has a very clear judgment on the focus of "Blood Jianghu Global Edition" to attract players, that is, P2E. But a week after it went live, how did the game's P2E do? The answer is "the future can be expected".

The journey to making money is not simple

First of all, to introduce the game P2E related mechanics, in the game players need to obtain crystals through mining, and then diamonds can be converted into virtual token TIG according to a certain exchange rate (of course, it can also be reversed), in the Wemix wallet, players can convert TIG to Wemix credits (Wemix Credit) according to the exchange rate, which can be exchanged for virtual token WEMIX 1:1, and then converted into cash according to the exchange rate of WEMIX to real currency.

"Blood Jianghu Global Edition" Brush Gold Mode Introduction:

At present, "Blood Jianghu Global Edition" requires players to cultivate their characters to level 40 before they can open P2E gameplay, and automatic battles will only bring players to level 35, after which the difficulty of upgrading has increased sharply, and the experience reward of side quests is generally around 20,000, and starting from level 35, upgrading to a level generally requires millions of experience points.

After level 40, before level 60, taking the pit that produces crystals as an example, players can only mine in the primary pit of the first and second layers, spending nearly five seconds of reading time each time, producing 30-40 crystals, and according to the exchange rate in the game, on April 7, about every 458 crystals can be converted into a TIG, on this basis, the system also charges an additional 20% of the crystals as a tax. At the same time, according to the in-game limit, each person can get up to 3000 TIG per day.

After knowing the background of the basics, you may wish to do a simple math problem, based on the exchange rate of 458 crystals, plus taxes, a player wants to synthesize 3000 TIG, need 1.647 million crystals, minus the system Daily Mission gift of 6000 crystals, assuming that the 40-level player's luck is good, each mining produces 40 crystals, mining non-stop, the player needs to spend 205125 seconds, that is, 57 hours.

Not to mention that the mining points in the game also have refreshed CDs, which means that normal players either spend a lot of time on upgrading and trying more advanced mines, or they need to spend 996 per day and spend five working days non-stop to brush 3000 TIG.

Curiously, since the game's launch, the exchange rate between TIG and WEMIX has fallen all the way, from 1:0.071 on April 1 to 1:0.0032 on April 7, which means that 3,000 TIG can only be exchanged for 9.6 WEMIX, according to the WEMIX exchange rate (Gate.io) at the time of the author's deadline on April 7, 9.6 WEMIX is about $41.6 (about 264.6 yuan).

If it is regarded as a job, then the hourly salary of "Blood Jianghu Global Edition" is only 4.6 yuan, which fundamentally determines that in addition to professional studios, the income of ordinary players to play normally is relatively limited. Although Longtu Korea adopted measures such as expanding the service and login verification code to deal with the impact of the studio flood, when the author finished the manuscript, the game's server was once again blasted by the traffic of "players".

In addition, according to the feedback of players on Discord, some players have been unable to convert crystals to TIG for three consecutive days, and in the three days from April 4 to 6, TIG's exchange rate against WEMIX fell by 103.34%. Many players have also begun to discuss this issue on platforms such as Twitter and Discord.

Due to a series of new situations after the launch, Longtu Korea's stock price also fell on April 7, from 12,100 won per share at the close of April 6 to 8,760 won, a decline of 27.6%.

How to achieve long-term operation of P2E games has become a problem

As South Korea's leading P2E game platform, WEMIX game actually has dozens of games including "Blood Jianghu Global Edition" and "Mir4", and there are already 7 kinds of blockchain game tokens in the WEMIX wallet.

But looking back at the price trend of blockchain game tokens in the WEMIX wallet, it is not difficult to find that in addition to "Mir4" and the HYDRA tokens applied in the game, the growth of other games and tokens is relatively worrying, and another MMO game called "Fortuna Legend", whose token CQ ZuanShi exchange rate against WEMIX is even lower than TIG, only 1:0.0011, and Wemade is still selling cash during the period.

Although the success of Axie Infinity proves the viability of the P2E model of blockchain games, in fact, according to the NFT Market 2021 Annual Report released by NonFungible, blockchain games are in the NFT field, including NFT collectibles, meta-universe assets and other fields, the only profitable resale transaction is much higher than the loss resale transaction, that is to say, most ordinary players and studios really benefit from it. There is no doubt that in terms of current performance, there is indeed value for exploration in this market.

But GameLook has also always insisted on the idea that blockchain games and P2E models still need more polishing and optimization, whether you attract players to the fun of game mechanics or the stimulation of making money, the life of the game is the basis of all superstructures, and what determines the life of the game is not any gimmicks, but the gameplay and quality of the game.

Otherwise, when the game is closed, it can only be the same as some manufacturers, leaving a sentence "You have left your mark on its history".

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