With a market valuation of US$1.4 billion, Wemade Co., Ltd. (KOSDAQ:112040), one of South Korea’s top publicly listed gaming firms, has announced a strategic alliance with Space and Time (SxT), a pioneer in decentralized data storage. Under the cooperation, Wemade will be able to use the decentralized developer tools from Space and Time to power its blockchain and gaming services.
On its worldwide open blockchain gaming platform WEMIX PLAY, Wemade offers more than 20 distinct play-to-earn (P2E) games across all genres, including MIR M and the top-ranked blockchain game MIR4. This is a piece of the mega-ecosystem that its blockchain development subsidiary WEMIX is developing. The mega-ecosystem includes WEMIX’s mainnet, WEMIX 3.0, a wide variety of services including NFTs and DeFi, and WEMIX currency, which serves as the link between each of its constituent parts. Moreover, WEMIX has revealed intentions to provide an Ethereum layer-2 that would leverage zero knowledge proof (ZKP) protocols to increase scalability while maintaining user security and privacy. In order to establish a more reliable and scalable GameFi, Space and Time and Wemade want to work closely together in the future with next-generation decentralized infrastructure.
“We believe that blockchain is the future of gaming, offering gamers greater ownership and control over their digital assets,” said WEMIX CEO Shane Kim. “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.”
A comprehensive set of developer tools is bundled together in Space and Time for decentralized deployment. For easier creation of completely decentralized apps and quicker time-to-market for dApps, the platform offers developers real-time, tamperproof indexed blockchain data, a hybrid transactional and analytic (HTAP) data warehouse, and a serverless API gateway.
The Space and Time data warehouse’s queries are indubitably tamper-proof. By enabling smart contracts to execute tamper-proof queries directly, Proof of SQL, unique encryption developed by Space and Time, opens up a wide range of potent use cases based on blockchain technology and a completely decentralized stack.
With Space and Time, game makers may combine real-time blockchain data with off-chain data created by games in a single query and link the findings back to on-chain smart contracts. By linking a scalable decentralized data warehouse to the blockchain-based platform, Space and Time will allow Wemade to permit more sophisticated earning schemes for its P2E games, conduct tamperproof analytics on game behavior, and lower on-chain storage costs.
“We’re thrilled to partner with one of the biggest and most respected gaming companies in the world,” said Nate Holiday, CEO and Co-Founder of Space and Time. “Space and Time is committed to advancing the blockchain gaming industry with essential next-generation infrastructure and developer tools. 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.”
One of the most popular RPG games in Chinese gaming history, The Legend of Mir 2, by Wemade, is a well-known hit. The Legend of Mir 2 dominated the Chinese gaming industry with a 64% market share only a few years after its 2002 release there.
The Wemade platform offers DEXs, NFT marketplaces, and more on its L1 mainnet in addition to its Web3 GameFi activities. Outside GameFi, Wemade is still dedicated to aggressively growing its blockchain ecosystem. Wemade will be able to provide developers creating GameFi, DeFi, and other Web3 apps with secure and decentralized services as a result of their collaboration with Space and Time.