Wemix Reveals Web3-based Gaming Ecosystem WEMIX3.0
Blockchain gaming platform Wemix announced the launch of WEMIX Play expanding the platform’s existing play-to-earn features. This augmentation was done to create a platform-driven and service-focused mega-ecosystem. Wemix3.0 adds play-to-earn features to the existing platform. With these "play-to-earn" features, players can sell NFT-based items and make a profit while playing games. The testnet for WEMIX3.0 will start on July 1 and will also begin the onboarding of WEMIX Wallet and Governance Dapp.
The Mainnet is currently scheduled to go live on August 1. The onboarding of DEX, Bridge, Swap, and Lending protocols (the WEMIX DeFi Service); the implementation of 100% collateralized stablecoin (WEMIX$); and the implementation of the Neith Protocol launch and facilitation of DAO proposals are expected to happen in Q3 of 2022.
What is Wemix?
WEMIX is the blockchain gaming wing of WEMIX Pte. Ltd– a crypto platform offering services like a cryptocurrency wallet, decentralized exchange, NFT item marketplace, WEMIX staking, and the game gateway, . WEMIX Pte. Ltd is a branch of game developer Wemade, which built and operates The Legend of Mir franchise which had more than 120 Million users in Asia, and generated over $65 Million a month in revenue at its peak.
Wemade is a South Korean company which has recently shifted its focus toward the metaverse and blockchain (NFT, DeFi) technology, focusing on increasing the quality of gaming experience. The company claims that it wants to use blockchain technology to improve everyday games and make its WEMIX token a key entity in the metaverse.
“With Wemix3.0, we’re making it possible for users to do more with the tokens they earn, and it’s important that we continue finding new ways to empower members of the Wemix community,” said Henry Chang, CEO of Wemade in a statement to Venture Beat.
What we know about WEMIX3.0 and WEMIX$
WEMIX3.0 will also create its own stablecoin, called WEMIX$, that will allegedly be 100% fully collateralized by U.S. dollars and fiat currencies.
The WEMIX$ is expected to be the go-to coin used to store value, keep track of money, and buy and sell things within the WEMIX 3.0 ecosystem.
The three main components that will be added to the WEMIX platform as part of the WEMIX3.0 implementation are WEMIX Play, NILE (NFT Is Life Evolution), and the Wemix DeFi Service.
Wemix Player is the designated launcher that will be used to expand the play to earn phenomenon by providing a new practical approach through what it calls the “Virtuous Circle of Play & Earn, and Pay.”. According to the company, users can earn resources from games on the WGC (WEMIX Game Chain) and then use these assets in other games.
The NILE (NFT Is Life Evolution) platform is classed as an on-chain decentralized autonomous organization (DAO) that allows members to access and use funds, assets, and other members via the Neith protocol.
Wemix DeFi Service
Wemix DeFi Service – a crypto-asset finance platform available throughout the Wemix3.0 ecosystem. The platform offers services such as on-chain swaps, staking programs, bridges, crypto bonds, chain-wide auctions and WEMIX$ lending. The Wemix DeFi Service claims to change the way assets are managed, transferred and used on the Wemix mainnet.