Microsoft has backed Wemade, a well-known video game developer which has been heavily betting on blockchain in the last few years, the recent sign of the technology giants’ growing interest in web3.
South Korean company Wemade announced in a press release that it has raised $46 M in an investment round from Microsoft, Shinhan Asset Management and Kiwoom Securities. He did not announce the name of the funding round or its valuation.
“This is an important investment by credible, proven and strategic financial investors,” Wemade CEO Henry Chang said in a statement. “Wemade and Wemix will continue their efforts to interest more capital and actively invest to build the global digital economy platform.”
Founded more than two decades ago, Wemade is famous for its hit single “The Legend of Mir”, that at one point had more than 200 M sign-ups. During the past few years, it has discovered ways to incorporate blockchain tech into its new titles and offerings. It lately released its Wemix3.0 blockchain on the mainnet, launching a stablecoin and DeFi platform. The company says it plans to “change everyday gaming with blockchain tech and make its Wemix coin a key currency in the blockchain gaming space.”
A new cost-effective NILE platform which backs NFT and DAO will also be announced shortly. (EOD),” Wemade stated in the press release.
Dozens of technology giants, such ad Microsoft and Google, as well as famous banks, have made a collection of investments in the Web3 space in last years. According to Web3 Signals, Microsoft is also an investor in ConsenSys, the company behind the MetaMask wallet and enterprise solutions like Infura, in addition to the decentralized data warehouse Space and Time and NFT Studio Palm. According to the tracker, Google Ventures has supported fraud detection service Sardine, business app Blockchain.com and NFT startup YugaLabs.
Latest NFT News, Trendings and Tutorials, right at your inbox, every Monday Leave this field empty if you're human: