GRVY Gravity Co Ltd

GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games, today announced that Ragnarok Labyrinth NFT re-opened on April 27, 2022 has exceeded over 1 million downloads in Southeast Asia.

Ragnarok Labyrinth NFT is the first NFT title using Ragnarok IP cooperated with ONBUFF Inc., a blockchain platform company, and the game applies P2E system and NFT to The Labyrinth of Ragnarok, a mobile Time Effective MMOPRG game.

Over 1 million downloads have been reached on the first day of its re-opening on April 27, 2022, and stable services for game play with improving a large scale of servers have been successfully provided to users.

The game ranked as the second and the third in top grossing of Apple App Store in Thailand and the Philippines, respectively, and also ranked as the first in top new free games of Google Play in the Philippines. On top of the high-rankings, the popularity of Ragnarok IP in Southeast Asia has been proved by breaking the existing record of maximum number of concurrent users in 3 hours on its re-opening day.

PT Gravity Game Link, the subsidiary in Indonesia, is offering various events to celebrate the re-opening of Ragnarok Labyrinth NFT from April 27 to May 4, 2022.

[Ragnarok Labyrinth NFT_Official Website] https://labyrinthnft.gnjoy.id

About GRAVITY Co., Ltd. ---------------------------------------------------

Gravity is a developer and publisher of online and mobile games. Gravity’s principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.

Contact:

Mr. Heung Gon KimChief Financial OfficerGravity Co., Ltd.Email: kheung@gravity.co.kr

Ms. Jin Lee Ms. Hyeji AnIR UnitGravity Co., Ltd.Email: ir@gravity.co.kr Telephone: +82-2-2132-7800