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Wemade received support from Microsoft inc. during the investment round
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Wemade received support from Microsoft inc. during the investment round

Nov 3, 2022

Wemade received support from Microsoft inc. during the investment round - news

The major corporation Microsoft has backed Wemade, a well-known video game company. Over the past few years, they have made big bets on the development of the blockchain technology industry. A sign of this is the growing interest of tech giants in Web3.

Wemade, a company, based in South Korea, announced that it has raised $46 million in an investment round from majors such as Microsoft, Shinhan Asset Management and Kiwoom Securities. 

According to the CEO, Henry Chang, these investments can be characterized as reliable, proven, which came from strategic investors. 

Going forward, Wemade and Wemix also plan to raise more capital and continue to invest in the development of a large digital economy.

Wemade - a company that was established more than 20 years ago. The most famous product is the hit "Legend of the World". At one time, more than 200 million users subscribed to this game. Over the past few years, the company has been working on the possibility of introducing blockchain technology into its games and other products. For example, a native mainnet blockchain, called Wemix 3.0, was recently released with its own coin and DeFi platform.

The company's management aims to make changes to familiar games, using the blockchain and its technologies. Wemix native token is planned to be the key currency in the blockchain gaming space.

In one of the press releases, they announced that a new cost-effective NILE platform will be presented to the world soon, which will support NFTs and DAO.

At the moment, many technology giants such as Microsoft and Google, and some well-known banks, are actively investing in the Web3 industry. Earlier, it was reported that Microsoft M12 contributed $20 million to the Space and Time Web3 platform.

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