Wemade, the South Korea-based developer of the role-playing game MIR4, has invested in Singapore-based GameFi platform Froyo Games. While Wemade announced the investment yesterday, May 30, it has not disclosed the financial specifics of the move. So what is Froyo Games and what does the backing from Wemade mean?
Wemade is a game developer loved by millions of gamers across the globe. In fact, Wemade has been in the industry for over 20 years. MIR4, the fourth installment of its hit massively multiplayer online role-playing game (MMORPG) series, The Legend of Mir, boasts 6.5 million average monthly users.
What’s more, the game also offers play-to-earn features. This means players can trade items and characters using the native token, Wemix. Within the Wemix platform, players can earn tokens by playing various blockchain games. They can then swap them with Wemix on global crypto exchanges.
What is Froyo Games?
Launched in January 2022, Froyo Games is a GameFi platform that serves as a Web3 platform and NFT marketplace. It uses the Ethereum and Binance Smart Chain-based token, Froyo. Since its launch, Froyo Games has built a strategic partnership with Australia-based mobile gaming firm, iCandy Interactive.
ICandy Interactive is one of the largest indie game developers in Australia. Alongside iCandy, Froyo Games has been developing several play-to-earn game titles.
“Together with Froyo Games, iCandy Interactive is pleased to work alongside a prominent global game company Wemade to further develop the Web3.0 gaming ecosystems across the geographies we have a presence in,” said iCandy Interactive’s Chairman, Kin Wai Lau. “The combined strength of our union will add exponential ability to our product development and marketing capabilities”.
Now, with Wemade’s backing, we can expect more developments from Froyo Games. Wemade hopes to expand the Wemix tokenomics, its market presence, and provide additional content post this partnership.