Shadine Taufik · · 1 min readMicrosoft backs $46m round of South Korean Web3 gaming firm
Wemade, a South Korea-based gaming company, has raised US$46 million in a funding round that saw participation from Shinhan Asset Management, Kiwoom Securities, and Microsoft Corporation.
Photo credit: Wemade
Founded in 2000 by Kwan Ho Park, Wemade occupies a number of verticals, namely online game development and publishing, intellectual property licensing, and investment.
Since 2018, the firm has emphasized its metaverse and blockchain efforts. Launched last year, its play-to-earn game, Mir4, puts a Web3 twist on its popular Mir IP.
Its other games include Fishing Strike, Legend of Mir 2, Legend of Mir 3, and Icarus.
The firm has also launched its own blockchain mainnet, Wemix3.0, which uses a collateralized stablecoin and DeFi platform. It is also planning to launch its Nile platform, which will be compatible with NFTs, and a decentralized autonomous organization.
See also: Exclusive: Japanese gamemaker Akatsuki launches $20m fund to back Web3 projects in Asia
Editing by Samreen Ahmad and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
