NFT REVIEW GAMING Microsoft Expands Its Web3 Involvement After Investing In WeMade

Microsoft is one of three entities that have invested $46 million in WeMade, a Korean game developer focusing on Web3. This is according to a press release seen last week. The other two investors are Shinhan Asset Management and Kiwoon Securities. The three have opted to back WeMade in its Web3 push for supremacy.

According to a regulatory filing, the game developer is raising the amount through convertible bonds. Microsoft invested $14.8 million, Shinhan invested $21.2 million, and Kiwoom invested $10.5 million.

Microsoft Web3 Involvement

Microsoft’s investment comes after Phil Spencer, CEO of Microsoft Games, signaled the company’s intention to expand its Web3 involvement. Last October, he termed the Metaverse as a “poorly built video game.”

The investment has been greeted with enthusiasm by Henry Chang, CEO of WeMade. In a statement, he notes that the investment is much welcome as it comes from “reputable financial and strategic investors with proven track records.”

Chang adds that the game developer and its subsidiary, Wemix, plan to continue their efforts to attract more capital. Both are actively investing to build the ultimate “global digital economy platform.”

WeMade Web3 Involvement

With over 20 years of existence, WeMade has managed to establish itself as one of the top game developers in the world. Its Web3 focus comes at a time when blockchain technology and its innovations are shaping the gaming landscape.

To stay ahead, there is a need to adapt quickly.

Recently, the company launched Wemix 3.0, its blockchain mainnet, a stablecoin, and a DeFi platform. The goal is to transform everyday games with blockchain technology. Also, there are plans to establish its Wemix coin as a key currency in the Web3 gaming space.

Also, the company has already launched Mir4, a popular play-to-earn game. Mir4 is tailored for Web3, where players can mint their characters as NFTs and even mine cryptocurrency

Source link

If this article, video or photo intrigues any copyright, please indicate it to the author’s email or in the comment box.

What do you think?

26 NFT Points
Upvote Downvote


I am the curator of the NFT Review Market News. If the document or content infringes any copyright, please point it out in comments and it will be promptly removed. To all the articles we include the link of the Resource that appears as Source Link If this article, video or photo intrigues any copyright, please indicate it to the author's email or in the comment box.

My Crypto Lawyer Sec News BlockFi relanza producto cripto tras pagar una multa de $100 millones a la SEC

Crypto Alerts Noticias Altcoins El token FTT cae 60% con el anuncio de Binance