Microsoft has backed Wemade, a popular video game developer that has made aggressive bets onBlockchain in recent years, the latest sign of growing interest in web3.
According to a press release, Wemade has raised $46 million from Microsoft, Shinhan Asset Management and Kiwoom Securities. Wemade disclosed in a regulatory filing that it is selling bonds to raise capital.
Henry Chang, CEO of Wemade, said in a statement that the investment was a meaningful one. Efforts will be made to attract more capital and invest in the platform.
Wemade was founded over two decades ago and is best known for its hit title 'The Legend of Mir.' Over the last few years, it has been researching ways to incorporate the technology into its titles. Wemix 3.0 was launched to the mainnet and a stable coin was also launched. The company wants to transform everyday games with technology and establish its Wemix coin as a key currency.
There will be a new economy platform that supports NFT. Wemade was quoted in the press release as saying "EOD"
A number of tech giants have made investments in the web3 space in the last few years. According to Web3 Signals, Microsoft is an investor in ConsenSys, the firm behind MetaMask wallet and enterprise solutions. According to the tracker, a fraud detection service, a trading app and a NFT startup have been backed by the venture capital arm of the internet giant.
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