WEMIX and Mirana Ventures Fuel Chinese Blockchain Gaming with $30M Fund
Rebeca Moen Oct 12, 2023 10:45
WEMIX PTE. LTD. has invested in five Chinese game developers through a $30 million blockchain game-specialized fund, created with Mirana Ventures. This move aims to nurture blockchain gaming enterprises and expand the WEMIX3.0 ecosystem. The fund, part of a joint initiative with Mirana Ventures, an investment division of Bybit, has already utilized $6.4 million. The investees, working on diverse game genres, will feature their games on WEMIX PLAY, a blockchain game platform under WEMIX3.0.
In a concerted move to bolster the blockchain gaming sphere in China, Singapore-based WEMIX PTE. LTD., a subsidiary of WEMADE, has strategically invested in five Chinese game developers, according to GlobeNewswire. This investment was channeled through a specialized blockchain gaming fund, established in collaboration with Mirana Ventures, on October 11, 2023. The fund, valued at $30 million, is a joint initiative with Mirana Ventures, an investment arm of the global digital asset exchange, Bybit.
Financial Allocation and Future Endeavors
A notable portion, $6.4 million to be precise, of the $30 million fund has been utilized in this investment venture. This fund was initiated back in March 2023 with an aim to nurture promising blockchain gaming enterprises and to broaden the horizons of the WEMIX3.0 ecosystem. The genres of the games being developed by the investee companies span across MMORPG, card battle, sports, and strategy simulation. This diversity in gaming genres reflects the broad spectrum of opportunities that blockchain technology is poised to offer in the gaming industry.
All five games under development are set to feature on WEMIX PLAY, a blockchain gaming platform that is part of the WEMIX3.0 ecosystem. Further details concerning these games will be divulged on WEMIX PLAY in due time. In the meantime, WEMIX PTE. LTD. and Mirana Ventures continue to nurture their partnership, tirelessly scouting for potential projects within China to invest in. Their joint expertise in the blockchain market is a valuable resource for the investees, potentially expediting the market entry and success of these blockchain-based games.
Continued Investment and Industry Impact
This investment initiative underscores WEMIX PTE. LTD.'s plans to perpetuate and amplify its investment activities within the Chinese blockchain gaming developer community. The official website, www.wemixplay.com, will host detailed information regarding the blockchain games once they are serviced on WEMIX PLAY. This move is a part of a larger narrative where key industry players like WEMADE are steering the gaming industry towards a blockchain-centric paradigm, thereby catalyzing a once-in-a-generation shift in the gaming industry dynamics.
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