Web3 data warehousing platform Space and Time is teaming with publicly listed South Korean game developer Wemade.
Established in 2000, Wemade is a games developer recognized for the title “The Legend of Mir 2,” which was a successful roleplaying game in China. Since then, the company has changed its focus to blockchain and metaverse technology. It supports more than 20 play-to-earn games, according to a press release from the business.
Wemade will be able to use Space and Time’s developer toolkit to power its gaming services thanks to the strategic relationship. In order to enable businesses to conduct enterprise-scale analyses and execute quick transactions, the data warehouse attempts to mix on-chain and off-chain data in a single trustless environment.
In a recent interview with The Block, Space and Time’s CEO Nate Holiday stated that the company intended to focus on web3 games and DeFi protocols. In order to determine what in-game events result in online transactions, many blockchain gaming companies want to combine transactional and analytics data into a single warehouse, he continued.
According to the company’s press statement, Space and Time will assist Wemade in facilitating more intricate earning rewards for its games, running tamper-proof analytics against game activities, and lowering on-chain storage expenses through its data warehouse.
“We believe that blockchain is the future of gaming, allowing gamers greater ownership and control over their digital assets,” said Shane Kim, the CEO of Wemix, Wemade’s blockchain development company. “The relationship with Space and Time will assist expand our blockchain infrastructure skills and contribute to our commitment to developing an inter-game economy as the blockchain transformation of traditional games continues to flourish.”
Wemix has its own cryptocurrency called wemix coin, which is presently trading about $1.80, and has recently announced plans to launch an Ethereum Layer 2 protocol, leveraging zero-knowledge proof (ZKP) technology.
Recently, Microsoft has supported Wemade and Space and Time. While Space and Time received $20 million in a strategic investment round in September 2022, Wemade received $46 million from investors in November of last year.