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Microsoft has invested in a Korean game company in blockchain technology

Microsoft has invested in a Korean game in blockchain technology

Wemade has announced that it is receiving around $46 million. It was receiving investment from a number of companies, including Xbox parent.

However, it is unclear how much of that $46 million will be attributed to Microsoft. Wemade stated that it had succeeded in attracting new capital from a foreign strategic investor.

Henry Chang, the CEO of Wemade, has added that this is a meaningful investment by reputable financial and strategic investors with proven track records. Wemix and Wemade exert efforts continuously to attract more capital and actively invest in building the global digital economy platform.

According to the company, its recent title, Mir 4, has become the first well-made blockbuster blockchain game in the world. The company entered the blockchain industry in 2018.

Wemade launched its blockchain mainnet, Wemix 3.0, recently. It is a platform-driven and service-oriented mega ecosystem. It also has an NFT auction site, and it plans to introduce its economy platform that supports NFTs and DAO. However, it is unclear how Microsoft’s investment in Wemade fits into its strategy. But it appears that it will lead to blockchain directly.

Phil Spencer, the gaming head of Microsoft, has stated that NFT games feel more exploitative than entertainment. He also added that he was cautious about play-to-earn crypto games.

Geetasri Roy
I am an English literature graduate and turned my passion into my profession. I love writing on various niches. Apart from writing, I am a part time gamer. Games works as a stress buster for me. My knack for games lead me here to write about different games.

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