Microsoft has invested in a Korean game company that specialises in blockchain expertise.
Wemade has introduced that a new funding spherical noticed it receiving round $46 million of funding from a variety of firms, together with the Xbox guardian.
Though it’s not clear how a lot of this $46 million might be attributed to Microsoft, Wemade said 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 based in 2000 and develops PC and cellular video games. Its most notable franchise is Legend of Mir, a sequence of PC and cellular MMORPGs.
According to the company, its current title Mir 4 “has become the world’s first well-made blockbuster blockchain game since the company entered the blockchain industry in 2018”, although it’s not clear what metrics it makes use of to find out this.
Wemade lately launched its personal blockchain mainnet known as Wemix 3.0, which it describes as a “platform-driven and service-oriented mega-ecosystem”. A mainnet is a totally developed and deployed blockchain community in which cryptocurrency transactions might be broadcasted, verified and recorded on the blockchain.
It additionally has its personal NFT public sale website, and plans to introduce its personal ‘economy platform’ which helps NFTs and DAO (decentralized autonomous group, a collectively-owned organisation with no central authority).
It’s not clear how Microsoft’s funding in Wemade suits into its personal technique, nevertheless it seems unlikely that it’ll immediately result in blockchain or NFT expertise being included in its personal video games.
Microsoft head of gaming Phil Spencer has publicly said that NFT video games “feel more exploitative than about entertainment” to him, including in August that he was “cautious” about play-to-earn crypto video games, saying it “creates a workforce out of players”.
Spencer additionally lately referred to Mojang‘s statement that it wouldn’t permit NFTs to be in Minecraft. The Xbox studio mentioned it finds NFTs “exploitative” in their present use however that the underlying expertise may ultimately serve a higher function.
“We made some comments in Minecraft about how we view NFTs in this space, because we saw people doing things that we thought were exploitative in our product – we said we don’t want that,” Spencer defined to Bloomberg in August.
“I think sometimes it’s a hammer looking for a nail when these technologies come up. But the actual human use – or player use, in our case – of these technologies, I think there could be some interesting things.”