WEMIX (WEMIX) 101: A Gaming Platform Invested by Microsoft

WEMIX (WEMIX) 101: A Gaming Platform Backed by Microsoft

Games and financial services are being combined by many blockchain-based projects. Games such as Axie Infinity and Star Atlas, which offer real-world earnings, are currently extremely popular among investors. However, WEMIX has several unique features that set it apart. This project operates as a fully-fledged gaming ecosystem and currently serves its users with more than ten integrated games.

WEMIX is a global gaming platform. This project was launched as a subsidiary of the Wemade company and quickly achieved significant gains. The biggest of these gains was its investment from leading technology company Microsoft. In a 2021 investment round, Microsoft invested $14.6 million in the project. Additionally, the platform raised a total of $46 million in the mentioned investment round. This article answers questions such as what WEMIX is, how to make money with it, and what expert opinions there are on the WEMIX coin.

What is WEMIX (WEMIX)?

The parent company, Wemade, is a gaming company that has been in operation for over 20 years. The company is listed on the Korea Securities Dealers Automated Quotation (KOSDAQ) and has over 500 million users worldwide. WEMIX, which they launched as a blockchain project, aims to innovate, and solve new challenges in the gaming industry. Currently, many companies are trying to integrate their businesses and blockchain technology. The same is true for the gaming sector.

The project is building a network and service ecosystem that combines basic gaming features with blockchain technology. The multi-game network places great importance on cryptocurrencies. Today, the gaming industry is too big to be ignored, and people continue to invest their time in games with innovations and updates. The platform has partnered with several major games, such as Riders of Icarus, and integrated with more than ten games. It is now possible to make transactions with NFTs and cryptocurrencies in these games.

How Does It Work?

WEMIX coin aims to provide unique value to other players through blockchain and in-game content. For example, they integrate the blockchain into MMORPG dungeon raids, farm and factory construction, and fishing areas. Users regularly experience decentralised gameplay and earn rewards. These features differentiate it from simple blockchain games on the market and instead operate as a full-time and comprehensive gaming ecosystem. However, the ecosystem is not the only project that operates in this way, as it faces competition from big rivals like Enjin Coin.

One of WEMIX’s greatest features is its creative use of NFT technology, which forms the basis of the platform’s GameFi mechanism. Some of the games supported and created by the ecosystem operate in an NFT-based manner. This means that the items you obtain in these games are listed as NFTs on the blockchain, and you become their true owners. The NFTs in the ecosystem can be used in other supported games, and you can buy and sell these NFTs.

What is WEMIX Token? Is It a Good Investment?

The WEMIX coin is the utility token of the project, enabling users to trade in multiple games. To purchase in-game assets, you need to have this token. Trading of NFTs is conducted using this cryptocurrency. Additionally, the asset serves as a tool for some transactions within games. The cryptocurrency operates using a Proof-of-Stake mechanism and can be staked, allowing you to earn more tokens by locking your assets on the platform. This opens the possibility of generating passive income.

WEMIX coin currently has a crypto wallet, a game ecosystem, and an NFT marketplace. To use the platform, you need to log in to the project’s website and sign up with your Google account. After creating a wallet, you can start playing games and earning money. Although WEMIX has received investment from large companies like Microsoft in the past, it is currently trading at an incredibly low price. The altcoin has experienced a significant loss in value due to a series of negative news.

The primary bad news was the delisting of the coin by South Korea’s top five crypto exchanges. The crypto coin, which is particularly popular in Asia, suffered a massive decline in value due to this news. The negative sentiment of Bitcoin and the general crypto market also had a significant impact on this collapse. The altcoin reached an all-time high of $24.28 in November 2021 and it is currently trading at $1.99. However, WEMIX is holding its potential and can rise again when the market recovers.

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