“The dream we talked about the day we first started the blockchain business has come to our vision. Wemix is facing an opportunity to become a global gaming blockchain and key currency for games. It’s just the beginning.” (Hyeon-guk Jang, CEO of Wemade)
Wemade, which has chosen ‘blockchain’ as the future food, decided to merge with its subsidiary Wemade Tree to pour out its company-wide capabilities. Wemade plans to change the paradigm of the blockchain industry by issuing non-fungible tokens (NFTs) beyond simple blockchain game development.
Wemade announced on the 25th that it had decided to merge with Wemade Tree. The purpose of the merger is to enhance corporate value and shareholder value by strengthening blockchain-based game service capabilities and expanding the Wemix platform business. The merger date is scheduled for February 1, 2022.
Wemade Tree is a blockchain startup established in January 2018 after a spin-off to promote Wemade’s new blockchain business. For the past three years, it has developed its own blockchain platform ‘Wemix’ and has been running game business, cryptocurrency wallet business, and decentralized exchange (Wemixdex) business.
The game industry is considered to be a field where blockchain can be applied quickly. This is because the characteristics of games such as cyber money and items and blockchain technology fit well.
When blockchain technology is applied to the game, all user item transaction records are managed as unique values. In other words, since all records are disclosed from the moment the user acquires the item to when it is disposed of, transparent item trading is possible and the item cannot be duplicated.
In Korea, attempts to graft blockchain into games are rare due to regulatory issues, but related attempts are being made actively in overseas markets. ‘Crypto Kitty’, introduced by Dapper Labs of Canada in 2017, is a game that collects, nurtures, and exchanges virtual cats. In 2018, a rare cat in the game was traded for about 180 million won.
In addition, as the number of games in which game virtual assets (cyber money, items, etc.) lead to revenue generation, such as ‘Exci Infinity’ (Vietnam), increase, ‘Play to One’ (P2E), which invests time in games and receives rewards in return for their efforts The concept is becoming universal.
Wemade launched ‘Mir 4’ with blockchain technology applied to the global market in August for P2E experiments. The global version of Mir 4 uses blockchain technology, utility coin ‘Draco’ and NFT.
Announcing the merger resolution, WeMade said, “With this merger, WeMade plans to focus its company-wide capabilities on the metaverse business that connects games and block chains. We will build the
WeMade CEO Jang Hyun-guk expressed his firm will to expand the blockchain business through a company-wide email on the 25th.
He said, “WeMade, which was a content company, has to leap forward as a platform company, do things that we haven’t done or are not good at, and moreover, we have to do things that no one else in the world has done.” , we need to recruit good external talent to strengthen our company-wide capabilities,” he said.
“We do not know how long the window of opportunity given to us and created by us will remain open, but it is clear that today and tomorrow it will not close, and it is also certain that it will not remain open enough to allow us to take it easy. It would be a wise attitude to respond.”
CEO Jang also emphasized plans for next year. He said, “If 100 games are uploaded to the Wemix blockchain by the end of next year, and 100 games use Wemix as the key currency to issue respective game coins and NFTs, and trade on our integrated game coin exchange and NFT exchange, and next year, From now on, if it becomes an open platform where any developer can make blockchain games using the SDK provided by us, the paradigm of the game industry will change completely. said
He added, “This merger is to create an organizational framework to achieve that dream,” adding, “Wemade will focus on blockchain games and platforms throughout the company. This is just the beginning.”
