Krafton Inc stock (KR7259960003): Subnautica 2 hits 5M Steam wishlists ahead of launch

Krafton Inc kicked off pre-sales for Subnautica 2 on Steam after the game racked up 5 million wishlists, signaling strong player interest days before early access.

Krafton Inc, through its subsidiary Unknown Worlds, has launched pre-sales and downloads for Subnautica 2 on Steam, following the game's achievement of 5 million wishlists. The announcement came on May 12, 2026, with every pre-order player receiving a special gift, according to Ground News as of 05/12/2026. This development underscores Krafton's push into survival-crafting titles amid its core battle royale focus.

As of: 12.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Krafton, Inc.
• Sector/industry: Video games and esports
• Headquarters/country: South Korea
• Core markets: Global, with strong PC and console presence
• Key revenue drivers: Game sales, in-game purchases, esports
• Home exchange/listing venue: Korea Exchange (KRX: 259960)
• Trading currency: KRW

Krafton Inc: core business model

Krafton Inc develops and publishes video games, with PUBG: Battlegrounds as its flagship title driving significant revenue through in-game purchases and esports events. The company operates multiple studios, including PUBG Studios and Unknown Worlds, focusing on free-to-play models supplemented by seasonal content and collaborations. Its business spans PC, console, and mobile platforms globally.

Listed on the Korea Exchange under ticker 259960, Krafton holds a position in the Global X Video Games & Esports ETF (HERO), ranking among top holdings as of recent data from StockAnalysis as of 05/2026. This exposure highlights its relevance to US investors tracking gaming sector growth.

Main revenue and product drivers for Krafton Inc

PUBG remains the primary revenue engine, with ongoing events like the PUBG x Stellar Blade collaboration launched recently via in-game banners. In-game purchases and battle passes contribute the bulk of recurring income. The Subnautica 2 pre-sale launch on May 12 adds a new pillar in the survival genre, potentially diversifying beyond battle royale.

Krafton's strategy emphasizes live-service games and IP expansions, with subsidiaries handling niche titles like Subnautica to complement core offerings. This multi-franchise approach targets broader player engagement across platforms.

Industry trends and competitive position

The video game industry sees rising demand for survival and crafting games, where Subnautica 2's 5 million wishlists position Krafton favorably against rivals like NetEase and CD Projekt. Steam's top wishlisted status reflects hype ahead of early access, per PC Gamer as of 05/2026.

Why Krafton Inc matters for US investors

Krafton's titles like PUBG have substantial US player bases, with Steam and console sales providing dollar-denominated revenue exposure. Its ETF inclusion in HERO offers indirect access for US portfolios focused on esports growth, amid a sector projected to expand with live-service trends.

Conclusion

The Subnautica 2 wishlist milestone and pre-sale launch highlight Krafton Inc's ability to generate buzz in competitive genres. With PUBG as a steady performer and new titles in the pipeline, the company maintains momentum in gaming. US investors may note its global reach and ETF presence as key factors in sector plays.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.