“Our dream that we talked about on the day of starting a blockchain business has become a tangible reality. WEMIX is a global gaming blockchain, and it is about to seize an opportunity to become the key currency of games. This is just the beginning.” This is a quote from Hyunguk Jang, CEO of Wemade.

WeMade chose blockchain tech as a future growth engine and has decided to acquire a subsidiary Wemade Tree and put a heavy focus in this area. WeMade is planning to change the paradigm of the blockchain industry, going beyond simple blockchain gaming development to issuing a Non-fungible tokens.

WeMade publicly announced its decision to takeover Wemade Tree on the 25th of last month. Its purpose is to improve corporate and shareholder value through strengthening its capabilities of blockchain-based gaming services and expanding a WEMIX platform project. The merger is scheduled to be held on February 1st, 2022.

Wemade Tree is a blockchain startup that was created in January 2018 in order to carry out a new blockchain business of WeMade. For the past three years, it has developed WEMIX, its own blockchain platform, and it has worked on a cryptocurrency wallet and WEMIX DEX, a de-centralized exchange.

The gaming industry is one of the areas in which the blockchain technology can be quickly applied due to certain characteristics of gaming, such as cyber money, purchasing items, and general compatibility with the blockchain technology.

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

Source: Pangyo Techno Valley Official Newsroom