Wemade & Wemix Part 2 – Leveraging blockchain gaming and cryptocurrency to expand the Wemix environment

Wemade has focused on extending Wemix by integrating more games to create a fully functional environment. Wemix already has many active games in various forms on its platform – from Mir4 to Gunship Battle: Crypto Conflict and more – but the company is still striving to bring even more games to its platform.

The cryptocurrency aspect for P2E gaming has mostly been game specific. For example, Axie Infinity has AXS and SLP (Smooth Love Potions) and these are only used in Axie Infinity. Regardless of how popular Axie Infinity becomes, AXS and SLP will not exist outside of this game’s setting.

Wemix is ​​completely different. More games are available on Wemix every day, with up to seven games published on the platform as of now. In the future, there are about 30 more games in the pipeline waiting to be released, including Blade: Re.Action, Dark Eden M, Dekaron M, Arcane M, etc. About 30% of CEO Chang “Henry” Hyun’s target Achieved -guk out of 100 onboarding games this year.

These games on the Wemix platform share the blockchain platform and the cryptocurrency itself. However, Wemix is ​​not used directly in the game. Basically, the tokens in the games are game-specific. Draco and Hydra are only used in Mir 4, and Milico is only used in Gunship Battle: Crypto Conflict.

The biggest advantage of the Wemix platform is that these game-specific tokens can be exchanged in Wemix and used for other games via the Wemix platform. If a Mir4 player wants to switch to Gunship Battle: Crypto Conflict, they can simply swap Draco for Wemix and then Milico again.

Although Wemix has been on the rise and expanded by adding more games, the platform before that has not been without its obstacles. There was a problem when Wemix was sold in bulk and Wemix’s value dropped drastically. This could become a difficult situation for Wemade as they had mentioned that they will continue to use Wemix to create the Wemix environment and that they will use 74% of the Wemix spent to create the ecosystem.

There are several ways to create this environment or ecosystem. The first way, as mentioned above, is to onboard more games. The second is Mergers and Acquisitions (M&A) – when Wemade acquired SundayToz, Henry Chang said: “We will boldly expand M&A to expand the Wemix environment.”

The third concerns liquidity. Liquidity is the most important part of the current Wemix situation. Liquidity in the economy is directly related to the monetization of an asset. In simple terms, high liquidity means something is easy to monetize. That’s why Wemix has focused on liquidity – creating a proper ecosystem for Wemix’s future is more than necessary.

Assets that lack liquidity present problems when you try to trade them. A $5 bill has high liquidity because you can easily exchange it for items that cost $5. However, when an asset has low liquidity, the change in value can be dramatic and holders could incur massive losses. People tend not to invest in assets that may have high slippage rates. For this reason, liquidity is a major issue and one of the reasons why Wemade sells about 1% of the Wemix issued, about 10 million, each month. They are working on the future of Wemix, all according to plan.

Still, eyes on Wemade and Wemix weren’t always positive. Wemade released its quarterly report to allay investors’ concerns, while also announcing that they will withdraw 1% of the published Wemix if the price rises by $10-$200 – this may mean they will take around 20% of the published Wemix withdraw total.

To further regain confidence in Wemix, Wemade decided to pause its actions to increase Wemix’s liquidity in order to stabilize the value of the currency. Henry Chang also made efforts to regain investor confidence. He had announced on the February conference call that he would receive his salary through Wemix and this was put into effect within two months – he transferred his entire salary and dividends to Wemix.

▲ Henry Chang clearly discloses his Wemix trade history.

Meanwhile, Wemade has also focused on the blockchain industry. The company announced a staking service and decentralized finance [De-Fi] Service, Cleva. With the staking service, people who stake on the Wemix wallet are rewarded by Wemix – they expand usage of Wemix that only had value in monetization or transition to Wemix-based tokens. The same applies to the De-Fi service. The De-Fi users are rewarded for increasing liquidity when they deposit Wemix on Kleva. This is called yield farming.

In this way, Wemade enhances the entire Wemix platform and ecosystem, rather than just expanding a single P2E game.

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