Is Microsoft investing in NFT games for Xbox?

New reports have revealed that Xbox parent Microsoft has invested in a Korean gaming company specializing in blockchain games. The exact amount of the investment is not yet clear, but it is part of the $46 million that the company received in its new investment round.

Blockchain games, more commonly known as NFT games, are a controversial topic in the gaming community. A blockchain game is a video game that includes elements that use blockchain technologies, including cryptocurrencies and non-fungible tokens. This aspect of using cryptocurrency and non-fungible token trading in the game is not widely accepted.

But still, blockchain games have seen a huge boom in the industry as new games come out more often than ever. One of the most successful and well-made blockchain games is MIR 4 by WeMade studios.

Korean blockchain game developer WeMade receives investment from Microsoft

We made has announced that in its latest round of investment it has received a total of around $46 million in funding from a number of companies, including Microsoft. They have tired that they “remarkably succeeded in attracting new capital from […] a foreign strategic investor on favorable terms.“

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CEO of Wemade Henry Chang added that this investment will help them continue to use advice to attract more capital and investment for Wemade and Wemix to build a global digital economy platform.

The Korean company has recently launched its own Blockchain mainnet called WeMix 3.0, it is a “platform-driven and service-oriented mega-ecosystem“. And according to them, their new blockchain game is MIR4 “the world’s first well-made blockbuster blockchain game since the company entered the blockchain industry in 2018.” Although it is not clear what calculations it uses to determine this.

NFT games coming to Xbox?

It has not been confirmed how Microsoft’s investment in Wemade fits into the company’s plans. But it is highly unlikely that the Xbox console will receive any NFT games in the future. Since the company has made it clear that they are not planning anything NFT related for the console anytime soon.

Phil Spencer, the head of Xbox at Microsoft, has publicly stated that NFT games to him “feels more exploitative than about entertainment.” He had also recently stated that he will not allow existing games to use NFTs like Xbox studios find they are highly “exploitative” in their current use, but that the underlying technology may eventually serve a better purpose.

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What do you think of Microsoft’s investment? Do you think there will be Xbox NFT games in the future? Let us know in the comments below!