Home Business NCsoft, the stock price skyrocketed with just one word… what did you say

NCsoft, the stock price skyrocketed with just one word… what did you say

by news dir

picture explanation[사진출처 = 엔씨소프트]

The share price of game companies that have recently introduced NFT (Non-Fungible Token) is showing strong momentum.

In line with the advent of the era of ‘Play to Earn (P2E)’, which is about making money while playing games, stock prices of stocks related to NFTs, which have rapidly emerged as future food sources, centering on game stocks and entertainment stocks, are booming. Although NFT utilizes blockchain technology, it is characterized by a unique token ID and ownership of digital assets, which is non-fungible.

The stock price soared thanks to news that game companies NCsoft, Krafton, Wemade, and Pearl Abyss are putting NFTs into their games.

According to the Korea Exchange on the 13th, NCsoft closed at 786,000 won, up to the price limit (29.92%) from the previous trading day on the 11th, when it announced its tentative results for the third quarter of this year. Although operating profit in the third quarter was cut in half from the previous year and fell short of market expectations, the stock price flew.

NCsoft said in its earnings announcement conference call on the same day that it has been preparing for NFT and blockchain applications in games for a long time, and plans to release games to which NFT is applied within next year.

The company also announced plans to prepare a metaverse service using the universe platform in the mid to long term.

Considering the potential of NFT and Metaverse businesses, securities firms have also published reports that raise NCsoft’s target price one after another. The highest place was DB Financial Investment. We raised our target price from 880,000 won to 1.25 million won. Next, eBest Securities raised NCsoft’s target price by 60% from 740,000 won to 1.18 million won.

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There is also Wemade, a game shareholder that benefits from NFT. The stock price jumped as the mobile multiplayer online role-playing game (MMORPG) ‘Mir 4’ Global, which applied NFT technology, succeeded in box office success.

Wemade’s stock price started at the upper limit on August 30th and continued to surge 12.93% and 12.73% the next day, making new highs every day until the beginning of this month. The share price has risen 871.26% since the beginning of the year. The day before, the stock was up 4.71%.

On the 5th, when the ‘entertainment boss’ Hive officially announced its entry into the NFT business, it surged 7.57% from the previous trading day. Hive and blockchain company Dunamu established a joint venture to promote a new fandom-based business that combines artist intellectual property (IP) and NFT.

The recent growth of the NFT market has been surprisingly explosive. According to Dapp Radar, a blockchain data company, the volume of NFT transactions in the third quarter of this year was $10.67 billion (about 12.585 trillion won), up 704% from the previous quarter. It increased by 38,060% from a year ago.

[전종헌 매경닷컴 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]

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