Microsoft backs Wemade and Time & Space, with the latter receiving the strategic funding of $20 million in September 2022 and Wemade having acquired $46 million in November 2022.
Another common aspect between the two is the strategic partnership that they have announced recently. Wemade, the Web3 gaming platform, will now be able to leverage the suite of developer tools by Space & Time under the partnership.
Space & time is the data warehousing firm that now aims to combine two separate data sets into a single environment that can be categorized as trustless. Data sets include on-chain and off-chain. This is in response to several partners seeking for a solution to bring analytics and transactional data into a single warehouse. The main objective has been to pinpoint the event that finally leads to an online transaction.
While the strategic partnership is with Wemade, the benefits are likely to be extended to others as well, including faster transactions. Moreover, enterprise-scale analytics will become a seamless experience via Space & Time. Web3 gaming is not a thing of the past anymore. Several players are exploring the segment through NFTs or digital tokens in an attempt to incorporate brands that wish to better connect with their customers. Partnerships like these are taking the segment forward in a positive spirit.
Wemade will also be able to process complex payout transactions, run analytics that is tamperproof, and lower the cost of on-chain storage through data warehouses.
Nate Holiday from Space & Time interacted with the media and cited that the plan to become the home to Web3 gaming and DeFi protocols has been in the pipeline for a long time. Things are indeed starting to work out for the best, with companies coming up to look for a solution that helps them to offer a seamless gaming experience to the players.
The Chief Executive Officer of the data warehousing venture has further emphasized that companies are now looking to bring analytics & transactional data into a single warehouse.
Shane Kim from Wemix, a subsidiary of Wemade, has expressed belief in blockchain by saying that it is the future of gaming as it offers larger control and ownership over digital assets. The Chief Executive Officer of Wemix has further cited that the partnership with Space & Time will help them strengthen the blockchain infrastructure capabilities while contributing the commitment to building an economy that resides within the gaming ecosystem. Both firms are backed by Microsoft. The strategic partnership brings them closer to improving the experience of Web3 gaming.
Moving forward, Wemix looks to launch an Ethereum Layer 2 protocol through the deployment of zero-knowledge-proof technology. Meanwhile, the wemix coin is changing hands at the board for a value of $1.80 at the time of drafting this article.
Space & Time and Wemade have expressed confidence in their partnership. Leveraging the suite of developer tools will strengthen the blockchain infrastructure of the South Korean gaming firm to enhance the experience for players.