Wemade claims that the agreement, which is valued at around 137 billion won ($115 million), would allow it to develop its cool gaming portfolio on the blockchain network as well as the social casino category. In a press release issued on December 20, Wemade CEO Henry Chang stated that the company will “bravely and internationally engage on m&a deals to grow our WEMIX environment.”
WEMIX is a worldwide blockchain gaming system that runs on the Ethereum blockchain. “WeMix is a platform that facilitates titles of popular categories to be transformed into blockchain games in a matter of minutes,” Chang said.
Wemade has developed “The Legend of Mir,” a fictional massively multiplayer online role-playing game (MMORPG) set in an old eastern land that is freely accessible by all interested gamers. Wemade revealed in a regulatory filing that it had secured purchase capital by offering new shares that were previously bought by its affiliate. SundayToz stated in a distinct filing that Wemade will buy a controlling stake of 34% in the company.
Chang has urged for liberalization to allow play-to-earn (P2E) gaming in South Korea, arguing a worldwide trend to involve gamers as well as blockchain technology as justifications for his position. MIR4, a blockchain-based peer-to-peer game developed by Wemade, is accessible in 170 countries, but not in South Korea. The firm congratulated itself for introducing a unique dimension in the global gaming sector with Mir 4, which achieved a benchmark of 1.3 million simultaneous players. Mir 4 is a strategy game developed by the corporation.