22:33 30 June 2026
Polish gaming slowing down, but Artifex Mundi is growing
Artifex Mundi is standing out in Poland’s struggling gaming sector, where shares of several major studios, including CD Projekt, Huuuge, Bloober, PlayWay, Ten Square Games, 11 bit studios, CI Games, and PCF Group, have weakened.
The company’s share price has risen almost 90% from its December 2025 low, driven by investor hopes for two key projects. The first is Void Hunters, a free-to-play RPG combining hero collection with tactical turn-based combat, expected by Erste Securities analyst Krzysztof Tkocz to launch in Q1 2027. Open alpha testing attracted more than 13,000 players, well above expectations.
The second key event is the updated version of Unsolved, planned for Q3 2026. The game generates more than 90% of Artifex Mundi’s revenue, and the addition of metagame features could improve monetization. Erste values the stock at PLN 28.2, implying 30% upside, with an optimistic scenario suggesting PLN 42.2 to 45.1 per share.
