Microsoft supports the Wemade gaming studio and its Web3 ambitions

wemadea South Korean video game developer which has lately pivoted to the Web3raised $46 million near Microsoft and two Asian funds.

Founded in 2000 in Seoul, wemade is a video game developer and distributor particularly known for his title Legend of Mir II released in 2001.

Fundraising of 46 million dollars

This Wednesday, the company received a $46 million investmentthrough the sale of convertible bonds, from the American giant MicrosoftShinhan Asset Management and Kiwoom Securities, reports TechCrunch.

This is a significant investment by reputable strategic investors. Wemade and Wemix will continue to make efforts to attract more capital and actively invest to build the global platform of the digital economy,” commented Wemade CEO Henry Chang.

Shift to Web3

Like its Japanese rival Square Enix, wemade recently pivoted to Web3. This summer, during an interview with GamesBeatits CEO declared that he wanted to make the company the ” Steam blockchain games by providing a platform for developers to launch such games more easily.

End of August, wemade was officially launching a blockchain version of its MMORPG Mir 4. Last month, the studio rolled out the mainnet of its Wemix blockchain network and launched a stablecoin dollar.

Microsoftwhich already backs several blockchain companies including ConsenSys, is increasingly interested in Web3 and its associated technologies like many multinationals.

Lately, its VC branch M12 led a fundraiser for Space and Time, a start-up specializing in blockchain data.

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