NEXUS Q3 Revenue Surges 257%... Expands ONE store-Centered Business

Revenue rises on consolidation of ONE store results
Operating losses continue... Company to change name to "ONE"

NEXUS generated more than three times the revenue it posted in the same period last year, boosted by the earnings consolidation effect of its acquisition of ONE store.

NEXUS CI. Provided by NEXUS.

NEXUS said on Nov. 3 that its consolidated revenue for the third quarter of this year came to 32.9 billion won, up 257.4% from a year earlier and 467.3% from the previous quarter. However, it continued to post losses, with an operating loss of 4.8 billion won and a net loss of 12.9 billion won.

NEXUS is pursuing a platform business that combines artificial intelligence (AI) and blockchain technology with game distribution and payments, with ONE store at its core. In August, it launched ONE store Global in 122 countries. In blockchain infrastructure, it operates the ONEchain network. ONE store and H.Lab, along with CertiK, HashKey Cloud, Stakin by The Tie, Finoa Consensus Services (FCS) and DSRV, are participating as node validators.

Recently, NEXUS signed a memorandum of understanding (MOU) with the Dubai Media Council (DMC) to promote the game industry and cooperate on global business. ONE store plans to leverage its global distribution channels and publishing network to help Dubai-based game developers expand overseas, while working with them to foster game studios and develop talent.

NEXUS has also expanded distribution support for AI game creators. ONE store opened its dedicated AI game section, launched in August, to all developers at the end of September. Developers can register AI-created games through ONEconsole and connect a web game software development kit (SDK) to pursue monetization through in-app purchases and advertising.

NEXUS will also launch a short-form drama service and ONEitem, a game-item trading service. Aiming to build the largest short-form drama content library in South Korea, it plans to integrate the service with ONEstory and develop it into a comprehensive entertainment application (app) where users can enjoy games, webtoons, web novels and short-form dramas in one place. ONEitem will facilitate transactions between users and provide developers with additional revenue opportunities. The service is set to expand globally and to iOS this month.

NEXUS CEO Jang Hyun-guk said, "Growth is the most important thing when it comes to innovation," adding, "We will strengthen our organizational capabilities through AI transformation (AX) and continue to grow through mergers and acquisitions (M&A)."

Meanwhile, NEXUS will hold an extraordinary general meeting of shareholders in Seongnam, Gyeonggi Province, on Nov. 16 to vote on an amendment to its articles of incorporation that would change its name to ONE Corp. By incorporating "ONE," which it has used across services including ONE store, into its corporate name, the company aims to strengthen the connection between its business and brand.

This content was produced with the assistance of AI translation services.