Trending
In a surprising move that none of us expected, Microsoft have invested a hefty amount of money in a Korean video game developer Wemade. Wemade are pretty much an unknown studio to many western gamers but in Korea, they are a pretty big studio thanks to their The Legend of Mir franchise, which attracted over 500 million registered users across PC and mobile.
The official press release from Wemade states that the company attracted an investment of approximately $46 million from three companies - Shinhan Asset Management, Kiwoom Securities and Microsoft Corporation.
The company states that they have managed to attract new capital investment from domestic and foreign investors at favourable conditions.
"This is a meaningful investment by reputable financial and strategic investors with proven track records." said Henry Chang, CEO of Wemade.
At the time of writing, it's unclear what exactly will this investment mean for Microsoft and Xbox. We know that Microsoft are looking to increase their presence in Asia, and this could be one of their first moves to reach that goal.
Wemade was founded in 2000 and since then they released many titles including the MMORPG MIR4 that is based on their popular Legend of Mir series IP.
The MIR4 Global has become the world's first blockchain game since the company entered the blockchain industry in 2018.
DON'T MISS:
- Phil Spencer teases Fable and other upcoming Xbox projects
- Sony tells UK regulator Call of Duty players will switch to Xbox for exclusive features
- Microsoft CEO on ActivisionBlizzard deal: Let us compete, Sony are expanding too
- Xbox are talking to Japanese publishers and developers about acquisitions, it's claimed
