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One of South Korea’s largest gaming companies has partnered with Space and Time (SxT), the decentralized data specialist. Wemade is a publicly listed company with a $1.4 billion capitalization. The deal will enable Wemade to develop blockchain-based games that tap into SxT’s decentralized tooling.
Blockchain gaming, also known as GameFi, has seen a surge of interest over the last two years as developers have sought to capitalize on the new possibilities unlocked by web3 technology. In addition to spawning a slew of well-funded crypto gaming startups, this trend has seen traditional gaming companies explore the capabilities of web3 features such as NFTs and integrated crypto wallets.
Wemade has embraced GameFi and now oversees more than 20 play-to-earn (P2E) games. These include leading blockchain game MIR4 which is hosted on Wemade’s WEMIX PLAY gaming platform.
Wemade Makes a Compelling Case for GameFi
South Korea’s Wemade has done more than tentatively explore web3 gaming; it’s firmly committed to the standard, aggressively developing a slew of blockchain-based titles. These form part of a sprawling web3 ecosystem it’s creating under the WEMIX banner. This suite of products includes a native blockchain, known as WEMIX 3.0, a WEMIX token, and a bridge that connects to the broader crypto ecosystem.
One of the biggest challenges when developing web3 games is ensuring that they can scale to match demand. This is particularly true when building games that oblige players to interact with public blockchains, whose throughput and fees are at the mercy of other users. Wemade’s decision to create its own blockchain was spurred partially by this necessity.
One of the key goals of the partnership between Wemade and Space and Time is collaborating on the establishment of decentralized infrastructure that’s optimized for GameFi.
As Space and Time CEO Nate Holiday explains, “This partnership is a huge step forward for the web3 gaming industry. Together, Wemade and Space and Time are building a new blockchain gaming ecosystem to onboard the next wave of game developers.”
Blockchain Data Is Big Business
For businesses building blockchain-connected products, it’s imperative to have access to on- and off-chain data on demand. The rapid expansion of the cross-chain ecosystem has empirically required running multiple nodes to query specific blockchains, each with its associated setup and maintenance costs. To surmount this problem, infrastructure providers have emerged that can supply blockchain data via APIs.
Space and Time has developed a cryptographic solution called Proof of SQL. This allows developers to connect analytics directly to smart contracts, with cryptographic guarantees that the data is accurate and has not been tampered with. Use cases for this technology include web3 games that query on-chain data pertaining to player activity. This can be used to create leaderboards, tournaments, and other in-game features.
While SxT will assist Wemade with its GameFi releases, its data services will also be utilized for a suite of DeFi products that are under development including a WEMIX DEX and NFT marketplace.
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