Software giant Microsoft invests Wemade in $14.8 million The investor is a South Korea-based blockchain game services company that recently launched its own stablecoin named Wemix. The company was part of his $46 million investment round, in which he was also joined by two firms (Shinhan Asset Management and Kiwoom Securities).
Microsoft backs South Korea-based game company Wemade
Microsoft invests his $46 million to support South Korea-based blockchain game operator Wemade Participated in a dollar investment round. In this round of Wemade’s sale of convertible bonds, Microsoft bought those bonds for his $14.8 million. Two firms — Shinhan Asset Management and Kiwoom Securities — also participated, according to regulatory filings. and purchased $21.2 million and $10.5 million of bonds, respectively.
Founded in 2000 and having operated over 20 blockchain games, Wemade considers the development to be a major success, and will continue to do so during the difficult economic times the cryptocurrency industry is going through. Even more so. In a press release, Wemade CEO Henry Chang said:
. Wemade and Wemix will continue efforts to attract more capital and actively invest in building a global digital economy platform.
Stablecoins in addition to games
Wemade’s main focus is the gaming business, but the company also has a token economy. Established. Through its game characteristics. On October 22nd, Chang launched his own stablecoin called Wemix, aiming to establish it as an important part of his ecosystem of games in the region. The
USD-pegged stablecoin is fully USDC-backed and operates through a balance protocol called Dios. The protocol is designed to help the asset maintain its price even in the face of periods of peak demand. Commenting on this experimental launch, Chang said:
If Wemix works well as planned, Wemix’s mainnet will not only contribute to the growth of his ecosystem, but also become the key currency for blockchain transactions.
Microsoft’s Phil Spencer has been critical of what new technologies such as play-to-earn models, NFTs, and the Metaverse bring to the traditional gaming table, but this has not affected the movement of companies. sector. On August 5, Star Heroes, a blockchain-based game still in development, received a Microsoft grant to access tools available to other AAA game developers.
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