Web3 data warehousing platform, Space and Time, has announced a strategic partnership with Wemade, a publicly listed South Korean gaming firm that develops games and services in the metaverse and blockchain domains. The partnership deal will enable Wemade to use Space and Time’s suite of developer tools to power its gaming services. Space and Time’s data warehouse aims to combine on-chain and off-chain data in a single trustless environment that will enable companies to conduct enterprise-scale analytics and make fast transactions.
Wemade, founded in 2000, services more than 20 play-to-earn games and is known for creating the popular roleplaying game, The Legend of Mir 2, which gained popularity in China. The company has since pivoted towards metaverse and blockchain technologies.
The partnership with Space and Time will help Wemade facilitate more complex earning payouts for its games, run tamper-proof analytics against game activity and reduce on-chain storage costs through its data warehouse. Space and Time’s CEO, Nate Holiday, told The Block in a recent interview that it planned to home in on web3 gaming and DeFi protocols. Many blockchain gaming companies want to bring transactional and analytics data into a single warehouse to find out what in-game events lead to online transactions, he added.
According to Shane Kim, the CEO of Wemix (Wemade’s blockchain developer subsidiary), “We believe that blockchain is the future of gaming, offering gamers greater ownership and control over their digital assets. As the blockchain transformation of traditional games continues to grow, the partnership with Space and Time will help strengthen our blockchain infrastructure capabilities and contribute to our commitment to building an inter-game economy.”
Wemix has its own token called wemix coin, which is currently trading around $1.80, and has recently announced plans to launch an Ethereum Layer 2 protocol, using zero-knowledge proof (ZKP) technology.
Microsoft has recently backed both Wemade and Space and Time. Wemade secured $46 million from investors in November of last year, while Space and Time received $20 million in a strategic funding round in September 2022.
The gaming and blockchain industries are beginning to integrate, and this partnership is a sign of more strategic relationships between companies in these industries in the future. For example, within the blockchain gaming sphere, Axie Infinity is a leader in the industry, offering players opportunities to earn digital assets that could be worth real money.
Axie Infinity, a blockchain-based game, has made headlines as the largest NFT game to date, with sales topping $1 billion. During the COVID-19 lockdowns, the game’s player base skyrocketed, as players used the platform as a means to earn money during a cash-strapped economy.
This partnership with Space and Time could increase the potential for Wemade games to offer earning opportunities for players, which could attract more users to their play-to-earn games. Additionally, the data analytics capabilities offered by Space and Time could help Wemade game developers to better understand in-game activity to optimize gameplay and user experience.
Overall, the partnership between Wemade and Space and Time means positive developments for both the blockchain and gaming industries. With more data analysis tools available for blockchain gaming companies, they can better understand their users and create better games. This partnership could also lead to the creation of new opportunities for players to earn digital assets and enhance the gaming experience for all users.
