Microsoft invests in blockchain gaming firm

By Tom West,

Microsoft has invested in the Korean game company Wemade, which is behind the Legend of Mir MMORPG series on PC and mobile, as well as a blockchain company that supports its own NFT auction site and crypto service.

Wemade's recent investment round saw the Korean company raise $46 million from a number of companies (thanks, VGC), including Xbox's parent company, Microsoft. This, of course, isn't evidence of blockchain coming to the tech company's services, and how much Microsoft has invested is currently unclear, but Wemade has said that it had "remarkably succeeded to attract new capital from[...] a foreign strategic investor at favourable conditions."

Wemade raises $46 million in recent investment round

“This is a meaningful investment by reputable financial and strategic investors with proven track records," Wemade's CEO Henry Chang said. "Wemade and Wemix will continue to exert efforts to attract more capital and actively invest to build the global digital economy platform.”

Wemix is the company's "platform-driven and service-orientated mega-ecosystem," a fully developed blockchain network that can broadcast cryptocurrency transactions, while also verifying the transactions on the blockchain. It's now fully deployed alongside Wemade's NFT auction site and the company plans on introducing its own "economy platform" to support NFTs and DAO (decentralised autonomous organisation). Founded in 2000, Wemade mainly develops games for PC and mobile, with its Legend of Mir MMORPG series proving to be quite successful on the platforms. It's most recent entry Mir 4 has apparently "become the world's first well-made blockbuster blockchain game since the company entered the blockchain industry in 2018."

NFTs look to be making their way into games across all platforms now, such as Gunzilla's upcoming battle royale game Off the Grid. We recently spoke with the developer's CEO about how the technology behind NFTs can be used positively for players, such as making this upcoming shooter completely free-to-play.

We'll probably not see anything come from Microsoft's investment in Wemade, but we'd love to know what you think of this news. Drop down below and let us know!
Tom West
Written by Tom West
Tom has been playing video games since he was old enough to hold a controller, experimenting with a number of systems until he eventually fell in love with Xbox. With a passion for the platform, he decided to make a career out of it, and now happily spends his days writing about that which he loves. If he’s not hunting for Xbox achievements, you’ll likely find him somewhere in The Elder Scrolls Online or fighting for survival in Battlefield.
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