finbold.com
On March 15, Wemade, a South Korean gaming giant with a market capitalization of $1.4 billion, announced a strategic partnership with Microsoft-backed Space and Time (SxT), an industry leader in decentralized data storage.
Notably, the partnership will allow Wemade to power its blockchain and gaming services with Space and Time’s decentralized suite of developer tools, according to information shared with Finbold in a press release.
Roughly twenty play-to-earn (P2E) games spanning all genres are supported by Wemade’s worldwide open blockchain gaming platform WEMIX PLAY, including the genre-spanning MIR M and the top-ranked blockchain game in the world, MIR4.
This is all a part of the ecosystem that WEMIX, the company’s blockchain developer division, is constructing, which includes WEMIX 3.0, the mainnet; a wide variety of services such as non-fungible token (NFTs) and decentralized finance (DeFi); and the WEMIX coin, the bridge that holds it all together.
WEMIX reveals plans to launch an Ethereum layer-2
In addition, WEMIX announced plans to launch an Ethereum layer-2 utilizing zero-knowledge proof (ZKP) protocols that will improve scalability while still ensuring users’ privacy and security.
With the advent of next-generation decentralized infrastructure for more robust and scalable GameFi development, Space and Time and Wemade plan on working closely together in the future to provide scalable and reliable GameFi.
WEMIX CEO Shane Kim stated:
“We believe that blockchain is the future of gaming, offering gamers greater ownership and control over their digital assets. 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.”
Game developers can link off-chain, player-generated data to onchain smart contracts in real-time with Space and Time. Connecting a scalable decentralized data warehouse to the blockchain-based platform would allow Wemade to accommodate more sophisticated earning schemes for P2E games, conduct tamper-proof analytics against game activities, and cut on-chain storage costs.
It’s worth mentioning that besides its Web3 GameFi initiatives, the Wemade platform also supports decentralized exchanges (DEXs), NFT marketplaces, and more on its L1 mainnet as it works towards expanding its blockchain ecosystem beyond the realm of GameFi.
Ultimately, developers building GameFi, DeFi, and other Web3 applications will benefit from Wemade’s partnership with Space and Time because of its services’ increased security and decentralization.