Overview
MIR4 is a mobile and PC MMORPG developed by WeMade, one of Korea's established game publishers (known for The Legend of MIR series). The game launched globally in August 2021 as a traditional free-to-play MMO, then added blockchain integration allowing players to convert Darksteel (an in-game resource) to DRACO tokens on the WEMIX blockchain.
Unlike most GameFi projects that built a game around tokens, MIR4 took the opposite approach: it was a functioning MMO first, with crypto added as an additional monetization and player incentive layer. This gave MIR4 a significant advantage — it had actual gameplay content (quests, dungeons, PvP, guilds, crafting) that justified player engagement independent of token earnings.
The DRACO economy initially created a gold rush. Players in developing countries discovered they could earn meaningful income by farming Darksteel through gameplay and converting it to DRACO. Peak concurrent players exceeded 1.3 million, and DRACO traded at significant value on exchanges.
However, the crypto integration also attracted massive botting operations. Automated accounts farmed Darksteel 24/7, overwhelming the conversion system and creating immense sell pressure on DRACO. WeMade struggled to control the bot problem, implementing increasingly restrictive conversion requirements (higher character level, verification checks) that frustrated legitimate players. DRACO has since declined significantly in value, and the earn potential has effectively evaporated for most players. The game itself continues to operate with a reduced but stable player base.
Gameplay
MIR4 is a fully-featured MMORPG with substantially more gameplay depth than most blockchain games. The game features class-based combat (Warrior, Sorcerer, Taoist, Lancer, Arbalist, Darkist), instanced dungeons, open-world PvP, clan wars, castle sieges, and a crafting system. The progression system includes character leveling, gear enhancement, spirit beast collection, and constitution (passive stat) development.
The game is heavily influenced by Korean MMO design: auto-quest functionality, heavy grind loops, and power progression through gear enhancement with RNG elements. The auto-play feature allows characters to farm autonomously, which is standard in Korean mobile MMOs but contributed to the botting problem by blurring the line between legitimate play and automation.
For players accustomed to Korean MMO design, MIR4 offers a competent experience. The graphics are impressive for a mobile game, and the content volume is substantial. However, Western players often find the heavy auto-play mechanics and grind-oriented design less engaging than action-focused alternatives.
Technology
MIR4 is built using Unreal Engine 4, delivering high-quality graphics for a mobile/PC cross-platform MMO. The game runs on traditional servers with the blockchain layer added on top through the WEMIX platform. Darksteel-to-DRACO conversion occurs through a specific in-game system that requires meeting minimum character and account requirements.
The WEMIX blockchain (WeMade's proprietary chain) handles DRACO token transactions. The separation between the game engine and blockchain layer means gameplay is not affected by blockchain performance — a pragmatic design choice. NFT character trading allows players to sell their characters as NFTs on the XDRACO marketplace.
WeMade's WEMIX platform has faced controversy, including being delisted from Korean exchanges for transparency concerns. This infrastructure risk is specific to MIR4 and other WeMade games.
Economy
MIR4's economy demonstrates both the potential and problems of adding crypto to existing games. The Darksteel-to-DRACO conversion created genuine economic activity, with millions of dollars in daily trading volume at peak. However, the open economy attracted industrial-scale exploitation.
Botting operations deployed thousands of accounts to farm Darksteel, creating massive sell pressure on DRACO. WeMade's countermeasures (level gates, verification, reduced conversion rates) fought a losing battle against increasingly sophisticated bots. The net effect was a transfer of value from early, legitimate players to bot operators and early DRACO sellers.
The in-game economy (gear, materials, crafting) functions independently of the crypto layer, which is a structural advantage. MIR4 can survive DRACO's decline because the game has a conventional free-to-play monetization model alongside the crypto elements.
Adoption
MIR4 achieved massive player numbers, with over 1.3 million peak concurrent players — numbers that most blockchain games can only fantasize about. The game ranked highly on app stores across Asia and attracted a global player base drawn by the earn potential.
Current adoption has moderated significantly. Active players have declined as the DRACO earning opportunity diminished, but a stable core player base remains engaged with the game for its gameplay merits. MIR4's continuation as a functional MMO — independent of crypto enthusiasm — differentiates it from pure GameFi projects that die when tokens crash.
WeMade continues to update the game with new content, classes, and features, maintaining the service-game model expected of Korean MMOs. The sequel, MIR M, further develops the franchise.
Tokenomics
DRACO is the extractable token, converted from Darksteel through an in-game process. HYDRA is a higher-tier token convertible from DRACO. Both tokens trade on exchanges, with DRACO available on WEMIX and select international exchanges.
DRACO's price has declined over 95% from peak, reflecting the oversupply from botting and the natural inflation of an extractable game token. The conversion mechanism creates persistent sell pressure as players convert and sell DRACO. There is no meaningful demand-side mechanism to absorb this supply.
The WEMIX platform's broader issues (Korean exchange delistings, transparency concerns) have further damaged token confidence. WeMade's aggressive multi-game tokenization strategy has diluted focus and raised questions about the sustainability of any individual game's token economy.
Risk Factors
- DRACO price collapse — 95%+ decline from peak with continued inflation.
- Botting epidemic — automated accounts undermine legitimate player earnings.
- WEMIX platform risk — Korean exchange delistings and transparency concerns.
- Grind-heavy design — Korean MMO mechanics may not retain Western players.
- Token inflation — continuous Darksteel-to-DRACO conversion creates permanent sell pressure.
- WeMade diversification — company focus spread across multiple games dilutes MIR4 resources.
- Regulatory risk — Korean crypto gaming regulations evolving rapidly.
Conclusion
MIR4 is the most successful example of bolting crypto onto an existing, functional game — and it still mostly didn't work economically. The 4.2 score reflects a genuinely playable MMO with substantial content and impressive player numbers, weighed down by a failed token economy and rampant botting. MIR4 proves that even real games with real players can't sustain extractive token economics. The game survives because it has value beyond crypto; the crypto layer itself is a cautionary tale about the challenges of open game economies.