On November 2, 2022, Wemade, a Korean blockchain games company, closed a $ 46 million seed round. Among the groups that have invested in the publisher, Shinhan Asset Management and Kiwoom Securities, but also Microsoft, which has paid out $ 14.8 million to help one of the blockchain gaming players.
Towards blockchain and cryptocurrencies for the Korean publisher Wemade
Founded in 2000, Wemade is a video game developer best known for its Legend of Mir multiplayer video game (MMORPG) series, which has attracted over 120 million gamers in Asia. In order to diversify, the company launched a blockchain gaming platform called Wemix in July 2022. It offers a catalog of about twenty video games, the possibility of acquiring NFT in relation to its video game titles or small bonuses that allow you to get an advantage over other players.
Confident in its blockchain development strategy, the company has also launched its own stablecoin, a cryptocurrency whose value is adjusted according to the US dollar rate. It is called Wemix and can be used in the recently developed platform by Wemade.
According to TechCrunch, to further develop in this sector, the company initiated a financing round which ended in early November with a total amount of 46 million dollars. Shinhan Asset Management, an asset management company associated with BNP Paribas, invested $ 21.2 million, while Kiwoom Securites, a company known for providing financial services, contributed $ 10.5 million.
Microsoft is slowly getting involved in the blockchain
To complete this round table, it is neither more nor less that Microsoft has decided to put almost 15 million dollars to support Wemade. ” This is a significant investment made by renowned financial and strategic investors with a proven track record “, Henry Chang, CEO of Wemade, specifies in a press release. ” If Wemix cryptography successfully performs as intended, it will not only contribute to the growth of the Wemix ecosystem, but it will also become a key currency for blockchain transactions. “, He specifies.
More than ever, Microsoft is betting on the world of video games. The company led by Satya Nadella could acquire Activision Blizzard, despite the reluctance of the Competition and Markets Authority, the UK competition authority. Plus, actively scan the ecosystem of Chinese video game publishers for a nugget of video games, such as Geinshin Impact for Sony’s PlayStation.
When it comes to blockchain and cryptocurrency, Microsoft hasn’t really made a major investment. The acquisition of a stake in ConsenSys, a company that develops and supplies applications mainly on the Ethereum blockchain, should be noted. Most recently, in August 2022, Microsoft subsidized Star Heroes, a blockchain game, so that they could access tools to help them perfect the game.