WeMade Expands GameFi Ecosystem, Instant Asset Swap Available in New Feature

Wemade Expands GameFi Ecosystem, Instantly Swap Assets In New Feature
  • Leading South Korean web3 gaming studio WeMade has released a new swap service. 
  • The swap service proposes instant transactions for game tokens to swap with other game tokens. 

The proposed system allows WeMade to expand its GameFi service offerings and promote the growth of the ecosystem with the interoperability of game tokens in its GameFi ecosystem. In addition, WeMade has announced supporting select game tokens that make up the liquidity of the WEMIX Play ecosystem in the swap service. 

Additionally, the web3 gaming platform has announced listing REFLECT, WEMIX PLAY’s synthetic token, on its native DeFi protocol, WEMIX.FI. REFLECT will be the first game token listing on the DeFi protocol. 

New Services Heading into the New Year

WeMade’s new swap service will allow users to exchange their game tokens instantly. In exchange, users will get pWEMIX tokens based on immediate interactions with changes in the value of WEMIX deployed in WEMIX PLAY.

Conversely, the new system also proposes staking game tokens and pWEMIX tokens so users can earn more assets through the transaction fee of the staking pools. In tandem with the new swap service, WeMade has revealed its listing REFLECT on WeMIX.Fi.

REFLECT is a synthetic token that users can create by fusing tokens registered in the REFLECT Alliance. Users can redeem REFLECT tokens through airdrops. The new token aims to catalyze the growth of synthetic and individual tokens, as per the announcement.

WeMade shared that REFLECT has the unique characteristic of corresponding its value with a game’s growth. The better the game, the higher the value of the REFLECT token. By listing REFLECT on WEMIX.FI, WeMade aims to promote interoperability in the native ecosystem and supposedly create a framework for shared growth.

On the Flipside

  • WEMIX Tokens were delisted from major South Korean Exchanges this month as per a ruling from The Seoul Central District Court. 
  • The court decided in favor of the crypto exchange group DAXA, to whom WeMade failed to properly disclose the number of tokens.
  • WeMade’s token plunged by 60% in response to the ruling and is down by 90% over the past 30 days. 
  • WeMade has planned to release WEMIX Player, a native app player. 

Why You Should Care

WeMade has recently been at the forefront of controversy, because of which its native token has lost more than half of its value. However, despite being hit with legislation and boycotts, the blockchain gaming studio continues to expand its ecosystem and provide incentivizing opportunities to its users. 


Read about WeMade’s collaboration with esports champions DRX:
Gaming Studio WeMade Backs League of Legends World Champions DRX

Learn more about Microsoft’s investment in WeMade:
Microsoft Backs Korean Blockchain Gaming Studio, WeMade, in $46 Million Investment

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Insha Zia

Insha is a crypto journalist from Pakistan specializing in Web3 gaming and the metaverse. At DailyCoin, he hunts for breakthroughs, interesting stories, and upcoming developments in the metaverse and Web3 gaming space. Since 2019, Insha has authored and ghost-written hundreds of articles for some of the world’s top tech publications covering various topics ranging from crypto how-tos to opinion pieces. Insha has a background in Computer Engineering, graduating from UET, Peshawar. He has ample experience working as a developer and a data scientist. He is also an avid gamer and has been a vocal member of various gaming communities. Insha's favorite genres are MMORPG and FPS. His interest in Web3 gaming grew during the DeFi boom in 2021 when he tried and reviewed Web3 games as a hobby. Today, he is an active member of numerous web3 gaming communities, contributes to the growth of the space, and constantly reports on events. As a seasoned gamer, Insha also provides insight on several upcoming Web3 projects from a gamer’s point of view. Moreover, during his time in the Web3 gaming and metaverse space, Insha has built valuable relationships with CEOs and Presidents of upcoming projects. Insha plans on leveraging his connections to provide accurate reports and news to DailyCoin readers.