Gaming Giant Wemade Unveils Crypto Wallet App

Wemade Tree, the blockchain subsidiary of South Korean gaming giant Wemade, said it has released an app for its long-awaited crypto wallet and an accompanying exchange platform – allowing users to store and trade digital tokens, in-game currencies and non-fungible tokens (NFTs).

Images released by the firm show that the wallet features support for two of Wemade’s own tokens, as well as chat app operator Kakao’s klay cryptoasset.

The firm said that its solution lets players “acquire digital assets when playing Wemix-based games” – allowing users to make use of the “digital assets” in games – or exchange them in transactions with other wallet users.

Wemade Tree CEO Shane Kim told Cryptonews.com that the wallet is a user interface for the Wemix platform that provides decentralized exchange and even marketplace functionality for exchanging and trading both Fungible Tokens and NFTs: “Additional functions will be added in the near future.”

And Kim claimed that the wallet is also intended for use outside the gaming community. He stated,

“In the long run, Wemix will develop into a comprehensive platform that onboards not only Wemix games but also other dapps from other categories. We expect the Wemix Wallet to be used by all sorts of customers – not just gamers.”

Per WowTV, the company also added that it plans to upgrade its new platform with “Blockchain-as-a-Service (BaaS)” functionality “for gaming developers.”

NFTs have become a political and industry hot potato in South Korea, with one game developer refused a license by the nation’s gaming regulator last year due to the fact that its game makes use of NFTs. The government-run body claims that as NFTs can be traded for crypto on blockchain networks, they cannot be approved for general release in gaming titles.

However, with major South Korean businesses like Samsung already rolling out NFT-friendly partnerships, it appears the tide might be shifting in favor of industry-inclusive policies.
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This article was updated with corrected information in the first paragraph on October 15.