Microsoft invests in Korean web3 and blockchain developer WeMade
WeMade revealed that Microsoft was an investor in a funding round that brought $46 million to the Web3-focused studio.
Web3, cryptocurrency, and NFTs may have slowed down a bit, but that doesn’t mean they’re gone, nor have companies lost interest in investing in the space and what it can do, especially in gaming. In fact, Microsoft itself has just made what appears to be a significant investment in a Blockchain-focused developer. Recently, South Korean studio WeMade revealed that Microsoft had been part of a $46 million funding round.
WeMade shared information about its recent $46 million funding round via a press release and regulatory filing, which was spotted by TechCrunch. WeMade is a South Korean game studio that has turned its full attention to 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 raised $46 million in investment split between Microsoft, Shinhan Asset Management and Kiwoom Securities.
Source: WeMade Entertainment
It is interesting to see Microsoft included in the list of investors for such a large amount. Where many companies such as Ubisoft, Square Enix, and Sega have either launched an NFT or Web3 product or are toying with the idea, Microsoft has been very quiet on the topic of blockchain and Web3. Whether it was just caution or observation, it seems Microsoft isn’t content to just watch the development of the NFT space in games anymore.
With this investment in WeMade, it will be interesting to see if Microsoft plays further in the NFT, Web3 or blockchain space. Stay tuned as we continue to follow for further updates.
