Microsoft has backed WeMed, a popular video game developer that has bet heavily on blockchain in recent years, the latest sign of the tech giant’s growing interest in Web3.
South Korea’s Wemede announced in a press release that it was able to raise $46 million with the support of Microsoft, Shinhan Asset Management and Qiom Securities. He did not disclose the name or value of the funding.
“This is an investment that has been endorsed by prominent financial and strategic investors,” said Wemede CEO Henry Chang. “Wemade and Wemix will continue their efforts to attract more capital and actively invest in building a global digital economy platform.”
Founded two decades ago, Wemade is best known for its sleeper title ‘The Legend of Mir’, which at one point had over 200 million subscribers. For the past few years, it has been exploring ways to incorporate blockchain technology into its new titles and offerings. Recently released the blockchain Wemix3.0 to minenet and launched a stable coin and defi platform. The company is “aiming to transform everyday gaming with blockchain technology and establish Wimix Coin as a key currency in the blockchain gaming space,” the company said.
NILE, a new economic platform supporting NFT and DAO, will also be introduced soon. (E.O.D.),” Wemad said in a press release.
A number of tech giants, including Microsoft and Google, as well as legendary banks, have made a series of investments in the Web3 space in recent years. According to Web3 Signals, Microsoft is the company behind the MetaMask wallet and an investor in enterprise solutions such as Infura, as well as decentralized data storage space and time and NFT studio Palm ConsenSys. Google Ventures has backed fraud detection service Sardine, business app Blockchain.com and NFT startup Ugalabs, the tracker said.
