The July 15th music anniversary was significant. Ten years ago in Summer 2012, the release of “Gangnam Style,” catapulted South Korean singer and rapper, PSY to stardom as the song instantly became a global hit.
Gangnam Style, which captured listeners’ attention with catchy lyrics as well as an animated music video that featured the famous horse-riding routine, reached the 1 billion views mark on YouTube in just 159 day.
The song’s immense popularity and rapid global reach quickly thrust Korean pop culture into the international spotlight, a phenomenon known as the “Hallyu” or Korean wave movement. The phrase emerged to encapsulate South Korea’s influence in exporting its popular culture, media, and even cuisine into the global cultural economy.
Barack Obama made reference to the Korean Wave when he visited the East Asian country in 2012 as part of his state visit.
Hallyu gains more momentum due to the hard work of many Korean innovators and creatives
PSY’s footsteps are being followed by many Korean artists who continue to change the world music scene. K-Pop acts like BTS and Blackpink remain massively popular and are considered positive examples of South Korea’s cultural exportation. In early August 2022, Blackpink announced details of their performance in Abu Dhabi in early 2023 as part of its “Born Pink’ world tour.
Hallyu’s also made waves within gaming. Many may argue that the Korean Wave was built on the success of Korean games during the 1990s and 2000s. South Korea’s Minister of Culture, Sports, and Tourism gave a massive push to gaming amid remarks in July.
“When we think of K-content, we can think of BTS and Squid Game, but when it comes to global dominance, of course, games are at the forefront; I think this is important. The Ministry of Culture, Sports and Tourism will provide policy support so that the instincts of game developers can live on.” Park Bo-Kyun explained.
Game developer and publisher of over 20 years Wemade remains at the core of South Korea’s gaming industry.
South Korea’s game industry was established in 1990 when government policies prioritized Internet infrastructure and telecommunications. Today, millions across the world recognize Wemade due to the success of its “Legend of Mir” MMORPG series.
Korean Gaming Leads The World From the 1990s to 2020
Wemade continues to promote an innovative culture despite the fact that new technologies, such as blockchain, are set to further transform the world of gaming. Henry Chang, Wemade’s CEO has stated that he wants to make his company the Steam for Blockchain games. He shared his views, stating that the Legend of Mir series familiarity could be an advantage in helping to create a culture of engaging blockchain-based games.
Wemade has added nine more games to the Wemix blockchain platform by 2022, making it total 14. As of July, the company had made 22 blockchain investments and is planning to launch a collateralized Wemix stabilitycoin. Wemade has plans to host 100 games this year according to Mr. Chang.
Users can earn game resources, convert them to crypto and fiat and enable developers to create game links via dApps. Additional features include an NFT marketplace, a multi-chain gaming platform “Wemix Play”, Wemix wallet, and more.
Wemade’s global version of MIR4, released in August 2021, is heralded by some as one of the best combinations of traditional and blockchain gaming.
According to a 2022 earnings release, the game reached 1.4 Million concurrent users by November 2021. It also had 6,2,000,000 monthly active users in Q4, which was 6,2,000,000 according to a 2022 earnings update. This feat is unprecedented for a MMOPRG-game. Many people in the gaming sector enjoyed huge success during COVID-19 lockdowns when many gamers spent most of the time at home.
Realistic, accessible and affordable blockchain-based gaming solutions remain viable even amid COVID-19
MIR4’s popularity grew even after the pandemic lockdowns ended. Many believe MIR4’s unique characteristics and robust in-game economy boosted the game’s success.
Wemade, which is based on The Legend of Mir 2, launched MIR M. Vanguard and Vagabond in June 2022. MIR M players start in a traditional, immersive, and realistic setting of a Korean village, leading some to comment how MIR M’s design, graphics, and soundtrack elements resemble a Korean historical drama.
The long-lasting success of Gangnam Style and South Korea’s continued influence in exporting popular culture, music, cuisine, and other elements to the world is a testimony to the benefits of diplomatic ‘soft power.’
K-pop, K-drama and games are all examples of cultural influence that can result in significant economic benefits for a country. Wemade is a leading player within the traditional and blockchain gaming industries.
Ultimately, a decade after PSY’s biggest hit changed the world, GameFi continues to propel Hallyu forward into new frontiers of technology and innovation.