Korean blockchain-focused game company Wemade completed a venture investment round and raised $46 million. The investment came from several companies, including tech giant Microsoft, though it is unknown how much of that sum can be attributed to the Xbox parent.
Wemade CEO Henry Chang commented,
“This is a meaningful investment by reputable financial and strategic investors with proven track records. Wemade and Wemix will continue to exert efforts to attract more capital and actively invest to build the global digital economy platform.”
Wemade was founded in 2000, and develops PC and mobile games, with its most notable franchise being the Legend of Mir, a series of PC and Mobile MMORPGs.
Wemade also recently launched it’s own blockchain mainnet, Wemix 3.0, and says it is a ‘platform-driven and service-oriented mega ecosystem’. The company also owns its own NFT auction site and plans to create its own ‘economy platform’ which supports NFTs and DAOs.
Microsoft CEO Phil Spencer has publicly stated before that he feels NFT games are exploitative, that he was cautious of play-to-earn crypto games, and that they create a workforce out of players. Microsoft-owned Mojang had also previously stated that it wouldn’t allow NFTs to be in Minecraft, and that it finds them to be exploitative.