Microsoft Acquires Korean Blockchain Game Company

Wemade, the Korean blockchain-focused studio behind the MMO Mir series, has announced that its latest investment round raised $46 million from a number of companies including Microsoft, VGC reports. . Microsoft invested $14.8 million in Wemade by buying convertible bonds.

Korean studio Wemade was founded in 2000 to develop PC and mobile titles, including the MMO Legend of Mir. Starting in 2018, the company started developing blockchain technology, which resulted in the launch of a blockchain mainnet called Wemix.

Wemade has launched its latest Mir 4 title with blockchain support, including in-game NFTs and its own token called DRACO. The company touts its latest title as “the world’s first well-designed blockbuster game since the company entered the blockchain industry in 2018”, although its ambitions extend beyond the world of Mir and in the gaming industry in general. The company says it aims to “transform everyday games with blockchain technology and make its Wemix coin a key currency in the blockchain gaming space.”

Microsoft hasn’t made a statement about investing in Wemade, and the purchase doesn’t mean parent company Xbox intends to implement blockchain technology in its own games at this point.

Xbox head Phil Spencer has taken a measured view of blockchain gaming since its first appearance, saying last year that he was wary of the potential for exploitation in the NFT market. More recently, he expressed interest in the “potential gamer use” of the technology, but remained cautious, saying that “sometimes it’s a hammer looking for a nail when these technologies appear”.

The products discussed here were independently chosen by our editors. GameSpot may get a share of the revenue if you purchase something featured on our site.

Source: www.gamespot.com

Source : BBN NEWS

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