Is Microsoft Investing in NFT Games for the Xbox?

New reports have revealed that the parent company of Xbox, Microsoft has invested in a Korean game company that specializes in blockchain games. The exact amount of the investment is not clear yet, but it is a part of the $46 Million dollars 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 nonfungible token trading in the game is not widely accepted. 

But still, blockchain games have been seeing a Big Boom in the industry as new games are coming out more frequently 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

Wemade has announced that in their latest round of investment, they have received a total of around $46 Million in funding from a number of companies, including Microsoft. They have stated that they “remarkably succeeded to attract new capital from […] a foreign strategic investor at favorable conditions.”

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CEO of Wemade Henry Chang has added that this investment will help them continue to exert affords to attract more capital and investments 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 MIR4 is the “world’s first well-made blockbuster blockchain game since the company entered the blockchain industry in 2018.” Though it’s not clear what metrics it uses to determine this.

Are NFT games coming to the Xbox?

It is not confirmed how Microsoft’s investment in Wemade fits into the company’s plans. But it’s very unlikely that the Xbox console will receive any NFT games in the future. As the Company has made it apparent that they aren’t planning anything NFT-related for the console any time soon. 

Phil Spencer, the Head of Xbox at Microsoft, has publicly stated that to him NFT games “feel more exploitative than about entertainment.” He had also recently stated that he won’t let existing games use NFTs as Xbox studios find them very “exploitative” in their current use, but that the underlying technology could eventually serve a better purpose.

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