Wemade Blockchain Gets Investment From Microsoft For $46M

Wemade is a blockchain gaming services company that is situated in Korea and has just launched its very own stablecoin. In addition, the multinational software business Microsoft has made an investment in the company in the amount of $14.8 million. Wemix is the name of the company’s stablecoin offering. The company in question was one of the participants in the investment round worth a total of $46 million and also featured Shinhan Asset Management and Kiwoom Securities as the other two organizations that took part in the investment round.

Microsoft is providing assistance to the video game developer and publisher Wemade, which has its headquarters in Korea.
Microsoft has provided financial support to Wemade, a blockchain gaming operator that is based in Korea. This support came in the form of Microsoft’s participation in a $46 million investment round. This round of convertible bonds, which was a component of the round that consisted of Wemade issuing convertible bonds, received an investment from Microsoft in the amount of $14.8 million. According to the records that were filed with the regulatory agencies, there were also two more organizations that were involved in the transaction. Both Shinhan Asset Management and Kiwoom Securities have purchased bonds, with Shinhan Asset Management spending $21.2 million and Kiwoom Securities spending $10.5 million.

Wemade, which was founded in the year 2000 and currently operates more than 20 blockchain games, sees this development as a major triumph, particularly in light of the challenging economic times that the bitcoin industry is currently experiencing. Wemade views this development as a major triumph because of the following reasons: The following comment was issued by Henry Chang, the Chief Executive Officer of Wemade, in a press release:

Wemade and Wemix plan to keep making strenuous efforts to bring in further funding and make aggressive investments to develop a platform for the global digital economy. This is a significant investment made by well-known financial and strategic investors who have established a track record of success.

Moreover, the utilization of stablecoins for gaming purposes

Despite the fact that its gaming operations are its primary focus, Wemade is also aiming to establish a token economy through its numerous gaming sites. This is despite the fact that its gaming activities are its primary focus. Wemix is the name given to the organization’s own stablecoin, which was introduced on October 22 after Chang declared it as being launched. The goal that Chang had in mind for Wemix was for it to eventually become an indispensable part of the gaming ecology in the region.

Dios is a balancing mechanism that is used to keep the price of the asset, which is pegged to the United States dollar, stable. Dios is designed to allow the price to be maintained even when demand for the asset is at its highest point, so it can keep the price stable even when demand is at its highest point. The USDC serves as a backing for the stablecoin in its entirety. During this test flight, Chang issued the following statement:

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If everything goes according to plan, not only will Wemix contribute to the expansion of the Wemix mainnet ecology, but it will also become an essential currency for use in blockchain transactions. This is assuming that everything goes according to plan.

Even though Phil Spencer, an employee at Microsoft, has been very vocal about his disapproval of what new technologies such as play-to-earn models, non-fungible tokens (NFTs), and the metaverse bring to the table for traditional gaming, decisions regarding other companies in the field have not been altered as a result of his statements. On August 5, Microsoft announced that they would be awarding a grant to a blockchain-based game called Star Heroes, which is still in the process of being produced. The money would allow Star Heroes to utilize resources that are available for other AAA game creators.

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