Gravity Co., Ltd. launched its blockchain‑based title Ragnarok Online Landverse America on December 18, 2025, making the game available to players in Latin America and North America. The launch marks the first time the company’s flagship Ragnarok IP has been released as a Web3 title, combining classic MMORPG gameplay with blockchain‑based item ownership and a player‑driven economy.
The new title offers a limited‑time Welcome Adventure Pack that includes a unique player title, premium Moonstones, and a curated selection of essential items. Players can participate in a Mission Event, Guild Level Rush, Monster Hunting Season 1, and a Level‑Up Challenge, all designed to reward participants from day one and encourage early adoption of the Web3 features.
Gravity’s Q3 2025 earnings report showed total revenues of KRW 138,894 million (≈US$98.9 million), an 8.2% increase from the same quarter in 2024 but a 18.7% decline from the prior quarter. Online‑game revenues grew 32.1% year‑over‑year, driven in part by the launch of Ragnarok Online America Latina. The company’s strategy to diversify its revenue model beyond traditional microtransactions is reflected in the growing contribution of Web3 gaming to its online‑game segment.
Maxion Tech Co., Ltd., the licensee and publisher of Ragnarok Online Landverse America, said in a statement that “Ragnarok Online Landverse America represents our commitment to revitalizing one of the most beloved online RPGs with new technology and fresh creative direction.” The quote underscores Gravity’s intent to modernize a classic IP for a new technological era.
On December 19, 2025, Gravity’s stock price rose 1.51%, the strongest move among its peers that day. The positive reaction was driven by the successful launch announcement, which investors interpreted as evidence of progress in the company’s Web3 expansion strategy and a potential new revenue stream.
The Web3 gaming market is projected to reach $182.98 billion by 2034, and Ragnarok Landverse: Genesis, launched in March 2025, generated over $20 million in revenue. The new launch builds on that success, positioning Gravity to capture a growing segment of gamers interested in digital asset ownership and to diversify its revenue streams in a rapidly expanding market.
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