Microsoft backs web3 game developer Wemade

News Summary

  • The company says it is aiming to “transform everyday games with blockchain technology and establish its Wemix coin as a key currency in the blockchain gaming space.”“A new economy platform NILE that supports NFT and DAO will be introduced soon as well.
  • In a regulatory filing, Wemade disclosed that it is raising the capital through sales of convertible bonds.“This is a meaningful investment by reputable financial and strategic investors with proven track records,” said Henry Chang, chief executive of Wemade, in a statement.
  • (EOD),” Wemade said in the press release.Scores of tech giants including Microsoft and Google and storied banks have made a series of investments in the web3 space in recent years.
  • Microsoft is also an investor in ConsenSys, the firm behind MetaMask wallet and enterprise solutions such as Infura, as well as decentralized data warehouse Space and Time and NFT studio Palm, according to Web3 Signals.
Microsoft has backed Wemade, a popular video game developer that has made aggressive bets on blockchain in recent years, the latest sign of tech giants showing growing interest in web3.South Korea [+1682 chars]