Microsoft backed Space and Time partners with South Korean gaming firm Wemade
Blockchain
Web3 data warehousing platform Space and Time is partnering with publicly listed South Korean gaming firm Wemade.
Founded in 2000, Wemade is a games developer known for the title “The Legend of Mir 2,” which was a popular roleplaying game in China. The company has since pivoted towards metaverse and blockchain technologies. It services more than 20 play-to-earn games, the company said in a release.
The strategic partnership will enable Wemade to use Space and Time’s suite of developer tools to power its gaming services. The data warehouse aims to combine on-chain and off-chain data in a single trustless environment that will enable companies to do enterprise-scale analytics and make fast transactions.
Optimizing on-chain gaming
Space and Time’s CEO Nate Holiday told The Block in a recent interview that it planned to home in on web3 gaming and DeFi protocols. Many blockchain gaming companies want to bring transactional and analytics data into a single warehouse to find out what in-game events lead to online transactions, he added.
Space and Time will help Wemade facilitate more complex earning payouts for its games, run tamperproof analytics against game activity and reduce on-chain storage costs through its data warehouse, the company said in the release.
“We believe that blockchain is the future of gaming, offering gamers greater ownership and control over their digital assets,” said Shane Kim, the CEO of Wemix, Wemade’s blockchain developer subsidiary. “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.”
Wemix has its own token called wemix coin, which is currently trading around $1.80, and has recently announced plans to launch an Ethereum Layer 2 protocol, using zero-knowledge proof (ZKP) technology.
Microsoft has recently backed both Wemade and Space and Time. Wemade secured $46 million from investors in November of last year, while Space and Time received $20 million in a strategic funding round in September 2022.
