South Korea-based video game company Wemade has signed a Memorandum of Understanding (MoU) with Microsoft-backed Web3.0 data warehousing platform Space and Time.
With this strategic partnership, Wemade will leverage Space and Time’s developers’ tool suite to drive its gaming services, that is, engage blockchain technology to propel the next generation of GameFi.
“We believe that blockchain is the future of gaming, offering gamers greater ownership and control over their digital assets,” Shane Kim, the Chief Executive Officer (CEO) of Wemade’s blockchain gaming arm WEMIX said.
“As the blockchain transformation of traditional games continues to grow, the partnership with Space and Time will help strengthen our blockchain infrastructure capabilities and contribute to our commitment to building an inter-game economy,”
Wemade is known for its game titled “The Legend of Mir 2”, a role-playing game in China. This is one of the few gaming companies that has embraced blockchain technology and the metaverse.
Markedly, the offerings of partnership are designed to be delivered through WEMIX which has its crypto native token known as WEMIX. Noteworthy, WEMIX got delisted from several cryptocurrency exchanges in South Korea last year on the basis that Wemade was publishing misleading information.
Wemade to Onboard the Next Wave of Game Developers
Right now, the publicly listed gaming firm is positive that this partnership and the use of Space and Time’s decentralized tools will enable Wemade to run up to twenty Play-to-Earn (P2E) games plus its renowned MIR4.
On the other hand, Space and Time are exploring the combination of on-chain and off-chain data in a single trustless environment.
The aim is to enable companies to perform enterprise-scale analytics and hasten the speed of transactions which is the goal of many blockchain gaming platforms. This procedure will help blockchain gaming firms to understand the in-game events that translate to transactions eventually.
Ultimately, Wemade will roll out more complex earning payouts for its games, and give developers access to tamperproof analytics as well as access to a serverless API gateway and low-cost on-chain storage. Nate Holiday, the CEO & co-founder of Space and Time calls this strategic arrangement, the onboarding of the “next wave of game developers.”