Microsoft invests in Korean web3 & blockchain developer WeMade
Web3, cryptocurrency, and NFTs may have slowed down a bit, but that doesn’t mean by any stretch of the imagination that they are gone, nor have companies lost interest in investing in the space and what it can do, especially in gaming. In fact, Microsoft itself just made what seems to be a sizeable investment into a Blockchain-focused developer. Recently, South Korean studio WeMade disclosed that Microsoft had been part of a $46 million USD round of funding.
WeMade shared information on the recent $46 million funding round via a press release and a regulatory statement, as spotted by TechCrunch. WeMade is a South Korean game studio that has turned its full attention towards Blockchain and Web3 development in recent years. The company’s investments and efforts in recent years have gone towards launching the Wemix3.0 blockchain platform, as well as a stablecoin and DeFi platform. In its recent disclosure, it revealed that it had gathered $46 million in investment split between Microsoft, Shinhan Asset Management and Kiwoom Securities.
It’s interesting to see Microsoft included in the list of investors for such a hefty amount. Where many companies such as Ubisoft, Square Enix, and Sega have either launched an NFT or Web3 product or dabbled with the idea, Microsoft has been very quiet on the topic of blockchain and Web3. Whether it was simply caution or observation, it seems like Microsoft isn’t content simply watching the development of the NFT space in games anymore.
With this investment in WeMade, it will be interesting to see if Microsoft makes further plays in the NFT, Web3, or blockchain space. Stay tuned as we continue to follow for further updates.