Revolutionizing the Game: Henry Chang, CEO of Wemade, Unveils the Impact of Blockchain on Gaming Industry Dynamics
“Driving the Future: Wemade, a Pioneer in Gaming Since 2000, Adopts Blockchain for Innovation and Expansion”
Originally established in 2000 as a video game producer, South Korea-based Wemade is now at the forefront of gaming technology, harnessing the potential of blockchain. Wemade CEO Henry Chang shares insights into the company’s transformative journey, growth plans, and expanding footprint in the Middle East.
Chang started out at Nexon while in university, helping to grow what is now South Korea’s largest gaming company and one of Japan’s major listed firms. With over 26 years of experience in the industry, Chang is now leading Wemade’s integration of blockchain technology. “Four and a half years ago, we started to transform our company from a gaming company to a blockchain gaming company,” he explains.
Traditionally, each game operated within its distinct in-game economic system. However, WEMIX3.0, Wemade’s blockchain-based platform, is revolutionizing the trading of gaming currency. “The games have their own game tokens, and each NFT is its own commodity, so it can be traded outside the game between users,” notes Chang.
Listed on South Korea’s KOSDAQ stock exchange in 2009, Wemade has sustained a market value of over $1.8 billion as of August 2022. Chang attributes this enduring success to the company’s resilient approach, particularly during the cryptocurrency market crash in 2018 when many companies reconsidered their blockchain ventures.
Looking ahead, Wemade aims to be the preferred platform for both gamers and developers. “We are going to provide all game developers with solutions to transform their own games into blockchain games,” reveals Chang. He envisions a future where all games will be blockchain-based, with plans to launch 100 blockchain games on the Wemix platform by the end of 2022. Wemade aspires to witness every one of the 50,000 new games released annually becoming blockchain games.
With a keen eye on the Middle East, Wemade is actively increasing investments and expanding its presence in the MENA region, even in the early stages of blockchain technology in this region. “I believe that the Middle East and Asia could be the center for blockchain technology and the blockchain industry,” says Chang.
Wemade’s strategic adoption of blockchain for gaming innovation and its commitment to global expansion highlight its dedication to shaping the future of the gaming industry.
