Microsoft has invested in a Korean blockchain game company
Microsoft has invested in a Korean game company that specialises in blockchain technology.
Wemade has announced that a new investment round saw it receiving around $46 million of investment from a number of companies, including the Xbox parent.
Though it’s not clear how much of this $46 million can be attributed to Microsoft, Wemade stated that it had “remarkably succeeded to attract new capital from […] a foreign strategic investor at favourable conditions”.
Wemade CEO Henry Chang added: “This is a meaningful investment by reputable financial and strategic investors with proven track records. Wemade and Wemix will continue to exert efforts to attract more capital and actively invest to build the global digital economy platform.”
Wemade was founded in 2000 and develops PC and mobile games. Its most notable franchise is Legend of Mir, a series of PC and mobile MMORPGs.
According to the company, its recent title Mir 4 “has become the world’s first well-made blockbuster blockchain game since the company entered the blockchain industry in 2018”, though it’s not clear what metrics it uses to determine this.
Wemade recently launched its own blockchain mainnet called Wemix 3.0, which it describes as a “platform-driven and service-oriented mega-ecosystem”. A mainnet is a fully developed and deployed blockchain network in which cryptocurrency transactions can be broadcasted, verified and recorded on the blockchain.
It also has its own NFT auction site, and plans to introduce its own ‘economy platform’ which supports NFTs and DAO (decentralized autonomous organization, a collectively-owned organisation with no central authority).
It’s not clear how Microsoft’s investment in Wemade fits into its own strategy, but it appears unlikely that
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