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Everything You Need to Know About Wemix Token

Wemade Tree Pte. Ltd. created WEMIX, a Blockchain Gaming Platform that offers services such as Cryptocurrency Wallet, Token Exchange, Game Item Trade, and Game Gateway. Wemade Tree Pte. Ltd. is a subsidiary of Wemade, the developer and owner of the “The Legend of Mir” IP, which has over 500 million users.

 

 

 

The Wemix NFT market will be introduced in the first half of 2021. CrypTornado for Wemix is set to be the first game that allows users to utilize and exchange NFTs. Various approaches to maximizing the technical properties and advantages of NFTs will be tested. Fish NFTs will be shared by AquaTornado for WEMIX and a future fishing game. Players can catch fish and then send them to AquaTornado to breed and enjoy with WEMIX.

Source: Medium

In the second half of 2021, Kakao’s blockchain company GroundX will offer an NFT trade service on the Klaytn mainnet. A broader range of NFTs will be offered, covering not only gaming products but also digital arts and the certification of collectors’ ownership.

Wemade Tree intends to enter the Ethereum mainnet-based NFT marketplace, the world’s largest playground, in 2022, armed with knowledge from WEMIX and Klaytn’s NFT marketplaces. All NFTs traded on the worldwide market will be tradeable.

Wemade Tree already offers simple FT trading on its own decentralized marketplace, WEMIX DEX, via the WEMIX wallet. Tornado and CQ Zuanshi game tokens can be exchanged for WEMIX tokens, and vice versa.

WEMIX NFT marketplace development is nearing completion.

What Exactly Is Wemix (WEMIX)?

Wemix is a blockchain ecosystem that aims to provide the infrastructure for blockchain-based games and DApps to run without obstacles such as excessive gas fees or slow transaction rates. Wemix claims to have overcome these issues by combining private and public blockchain operations and integrating them with intermediary chains in a hybrid framework. As a result, by creating private blockchains to support the increased number of games, this method improves the scalability of on-chain gaming.

Wemix also claims to lessen the technological entry hurdles for traditional game makers by providing middleware that takes over blockchain-related aspects of games while minimizing changes to existing games.

Furthermore, its crowdfunding solutions minimize financial barriers to entry for games by lowering development expenses and streamlining the onboarding process for new customers.

Its ultimate goal is to gain mass acceptance of blockchain gaming by focusing on the traditional gaming industry, which now has one billion players. Furthermore, the developers intend to deliver solutions tailored to gamers rather than the overly sophisticated decentralized applications currently available on the market.

Who Are Wemix’s Founders?
Wemade Tree, a subsidiary of Wemade focused on the blockchain business, is developing Wemix.

Wemade is a publicly-traded South Korean video game developer based in Seoul that is best known for creating the Legend of Mir RPG, which sold 500 million copies in China. Wemade has over ten subsidiaries, including Joymax (creator of Wind Runner) and Flero Games (creator of Every Town), and is a shareholder in other promising Korean game development businesses.

Wemade was founded in 2000 and has released the following titles: Icarus, Lost Saga, The Legend of Mir II, III, Avalon Online, Aster Online, Changchun Online, Wind Runner, Wind Runner Z, Icarus M, Candy Pang: Juicy World, Touch Fighter, Aero Strike, My Secret Bistro, Everytown, Abyssrium, Goddess’ Kiss, and Viking Island.

How does WEMIX function?

Wemix is a blockchain-based Global Gaming Platform created by Wemade Tree, WEMADE’s main blockchain gaming services branch. Wemix is a platform for gaming dApps that offer wallets and a marketplace for digital assets to users. Wemix proposes a blockchain gaming ecosystem centered on the “experiential value” of users, whereas previous blockchain gaming ventures are solely focused on digital asset exchange.

The platform’s token is WEMIX coin. Wemix’s primary strengths, which are setting a new standard in the blockchain gaming market, are: “Sustainability” Wemade has been serving the global gaming business for over 20 years; “Substance” Wemade, ChuanQi (Legend of Mir); “Support” Wemade Wemade has ten subsidiaries and more than ten investments in gaming firms with resources available to Wemix; “Scalability” To address internal scalability and transaction cost constraints, the Wemix platform uses a hybrid “multi-chain” technology.

The Mission/Vision of Wemade
Wemade (KOSDAQ 112040) is a well-known game developer with a global presence. Traditional businesses generate revenue from game services and license fees for well-known game titles (IP), such as “ChuanQi.” Despite the fact that the game service is globally focused, the existing business environment is severely dysfunctional, relying on local players for publishing, marketing, and, most importantly, payment.

By connecting users from all over the world, using native platform tokens as a means of exchange creates a truly global marketplace and enables borderless peer-to-peer transactions. This expands on their current business strategy as a worldwide platform/service provider and adds tremendous value to their game participants.

What Makes Wemix So Special?

The Wemix ecosystem is made up of various components that work together to fulfill its lofty objective of bringing blockchain gaming to the people. Wemix is, at its core, a multi-chain initiative akin to public blockchains such as Avalanche (AVAX). It is made up of service chains, a public chain, and a bridging chain that connects them all.

Wemix’s service chains are private blockchains that focus on the quick and seamless processing of large amounts of data in order to avoid the gas expenses that are inherent in public blockchains. Wemix contends that creating a pleasant user experience should take precedence over documenting all in-game transactions on a public blockchain.

Wemix contends that creating a pleasant user experience should take precedence over documenting all in-game transactions on a public blockchain. Wemix would be able to tackle the scalability problem of games and DApps by adjusting the number of service chains required.

In the Wemix ecosystem, the public chain would serve as the asset management chain, processing all monetary transactions. Assets created on service chains would eventually be bridged to the public chain, where trading would take place.

The bridge chain is an intermediary chain that allows for the simple transfer and maintenance of game elements. The bridge chain would connect assets on the service chains to the public chain. Once the intended transaction has been accomplished, the assets could be returned to the corresponding service chain via the bridge chain. Wemix contends that this bridge chain is required to decrease congestion in the other chains and achieve performance comparable to the standard client-server infrastructure that games have previously used.

Trade delegators, a sort of middleware that conducts trades on behalf of users and reduces the load incurred by the user while interacting with smart contracts, are also key actors in the Wemix ecosystem. Wemix also has its own wallet where you may swap the WEMIX token for game-specific tokens on the service chains.

Finally, binders are a form of middleware that allows existing games to be integrated with blockchain operations. Binders are responsible for transferring data from existing gaming databases to blockchains and generating the appropriate transactions. Binders, in this sense, take over the role of the game server by connecting games to blockchains.

What is the current circulation of Wemix (WEMIX) coins?
WEMIX acts as the platform’s trading medium for all operations. Users will be able to convert in-game tokens from other games to WEMIX and vice versa, as well as utilize it to buy in-game assets.

It will also give a platform for developers whose games are nearing completion to crowdfund. They will be able to pre-sell portions of their games’ fungible and non-fungible tokens in exchange for WEMIX and raise funds to complete development.

Users will also be able to stake WEMIX, albeit participation in games created as part of the WEMIX ecosystem will not need staking. WEMIX has a total quantity of one billion tokens, and the token allocation is as follows:

The environment’s ecosystem (74 percent )

Private transaction (10 percent )

Team and advisors (9%): vested over a three-year period

Advertising and marketing (7 percent )

WEMIX coins are being distributed at a pace of 60 tokens per minute.

How Secure Is the Wemix Network?

Wemix’s public blockchain is Klaytn, a South Korean initiative. Klaytn’s consensus mechanism is an optimized variant of the Istanbul Byzantine Fault Tolerance, implementing a Practical Byzantine Fault Tolerance (PBFT) with adjustments to accomplish the required blockchain network characteristics. Furthermore, Klaytn implements proof-of-contribution, requiring token economy participants to make meaningful contributions in order to be validators.

How can I get WEMIX coins? What is the price of WEMIX?
WEMIX coin can be purchased on the cryptocurrency exchanges listed below. However, it is vital to ensure that the exchange is trustworthy. The price of one WEMIX coin is now around $2.07 as of September 20, 2021. WEMIX coins have a circulating circulation of 123,233,682 and a total supply of 1,018,187,200. The maximum supply of Wemix coins is announced to be 1,015,055,200 WEMIX.

This week, WEMIX is on the rise.
WEMIX’s price has climbed by 24.94% in the last 7 days. In the last 24 hours, the price has risen by 8.26 percent. The current price of WEMIX is 452.852867. WEMIX is 75.54 percent lower than its all-time high of 1,851.30. WEMIX is the current circulating supply of 123,233,682.38.

This is not financial advice, nor is it a recommendation to buy or sell any cryptocurrency, or to engage in any trading or other activity. You should not make any financial decisions based on this information. Purchasing, trading, and transacting in cryptocurrency entails considerable risks. Before engaging in any such activities, we strongly advise our readers to undertake their own independent investigation.

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