Against the backdrop of Fluctuation in the Crypto Assets market, the fate of WEMIX has attracted widespread attention within the industry. The latest data shows that while the Web3 gaming sector has attracted a lot of capital, its high average annual failure rate of 80.8% highlights the instability and risks in the sector. In addition, WEMIX announced in March 2024 that it would reduce its max supply by 60% in an attempt to improve its market position by restructuring tokenomics.
However, WEMIX's market challenges are not unprecedented. In November 2022, WEMIX was exchange delisting by long Korea due to being marked as a warning item by the Korea digital asset exchange Association, and the price big dump to 0.42 USDT at one point. The incident severely affected its market capitalization and investor confidence.
Despite facing significant market fluctuations, WEMIX continues to aggressively expand in the Blockchain gaming space. In 2023, through a $30 million fund co-established with Mirana Ventures, WEMIX invested in five Chinese game developers across longest game genres. This strategy shows WEMIX's commitment to the development of Blockchain games, although the future is still uncertain.
Let's start with WEMIX.
WEMIX: Accumulate a global Blockchain game ecosystem through a longest chain architecture to achieve innovation in scalability and transaction efficiency
WEMIX's longest game platform architecture and its challenges
The initial construction of the WEMIX platform stems from the comprehensive empowerment of the current Blockchain game market, especially in the implementation of the longest chain architecture. The team analyzed the existing Blockchain game platforms and identified three mainstream technology paths: single-chain and longer chain architectures. The WEMIX team chose tonight, highlighting in particular the integration of features such as Tokenomics, GameFi, Marketplace, etc., which are all based on "longest chains" infrastructure.
The reason for longing chain as a strategic development direction is longer. First of all, the WEMIX team has 20 years of selection experience from the global game industry, which provides them with a superb foundation in the development of longest chain platforms. The WEMIX platform practices advanced technical design and strong capabilities, but despite these advantages, the challenges of the platform in actual operation are also significant, such as dealing with the complexity of cross-chain interoperativity, data synchronization issues, and maintaining high availability of the system.
Recognized ecological components and value-added services
WEMIX's longest chain architecture not only enhances the scalability of the platform, but also drops the complexity of operations. Compared to traditional single-chain gaming platforms, WEMIX effectively streamlines the interaction process for users by integrating key components such as Wallet, NFT Marketplace, etc. directly into the on-chain. In addition, the WEMIX also leverages its unique long chain technology, such as through modules such as WEMIX PLAY and WEMIX.Fi, to seamlessly combine the game economy and DeFi (Decentralized Finance), enhancing the platform's economic viability and user engagement.
Three strategies to lead the industry innovation
Strong user experience – Through its longest chain infrastructure, WEMIX enables users to flexibly manage and trade assets on different chains, greatly improving the user experience;
Enhanced economic activity - Through the integration of Tokenomics and GameFi, WEMIX enhances the economic cycle within the game and improves the liquidity and value of assets;
Cross-chain interoperability - WEMIX enables seamless trading of assets on different blockchains by realizing the interconnection between longest chains, further opening up market boundaries and new user groups.
Through these comprehensive ecosystem components and innovative solutions, WEMIX actively promotes its leading position in the global Blockchain gaming market, while also facing the challenges and opportunities brought by market changes.
WEMIX Turmoil: Legal Review and Market Crisis of Confidence Emergency Analysis, Project Prospects Face Uncertainty
In June 2023, a WEMIX Token market maker launched by WeMade, a South Korean-listed gaming company, faced a full mandatory investigation. The move was in response to a complaint filed by WEMIX investors with prosecutors the previous month. The allegations, including fraud, are one of the latest in the controversy that has sparked controversy at WeMade in recent years.
Traceability of WeMade dates back to November 2020 to January 2022, when Manhattan sold 225.5 billion won worth of WEMIX without notifying WEMIX users and used the funds to acquire a company. At the end of 2022, the issuance quantity of WEMIX was suspected of being leaked, and a legal dispute arose with the country's trading platform, resulting in the final delisting of WEMIX by several major encryption trading platforms in South Korea.
What's even more worrying is that in January 2024, South Korea's national tax recovered 53.69 billion won in taxes from WeMade. This amount is the sum of the taxes levied on WeMade and its subsidiary, Wemade Tree. The National Tax Service conducted a tax investigation on WeMade and the Virtual Money WEMIX that we made Tree issuance and used in the past, and decided to collect a recovery fee.
However, WeMade was not the only subject of the investigation. According to a February 2024 report, the Public Prosecutor's Office is investigating WeMade on charges of allegedly evading the responsibility of virtual asset operators to report and obtaining additional benefits within the law. In addition, WeMade is accused of violating the law by increasing the number of subsidiaries and building a P2E (Play to Earn) ecosystem based on "WEMIX 3.0". The Public Prosecutor's Office is particularly concerned about the virtual asset exchange "Phenix" and the virtual asset Wallet "PlayWallet" proposed by WeMade for certain acts that may have violated the specific Financial Information Act by failing to provide users with personal passwords.
These events not only put WEMIX investors in trouble, but also dealt a heavy blow to WeMade's credit cards. As the investigation progresses, South Korea's initial attempt to protect market participants and boost the national economy while addressing the challenges of virtual asset crime has also become the focus of global attention.
Longing measures at the same time, can the WEMIX that has experienced danger turn things around?
DESPITE THE SIGNIFICANT LEGAL AND MARKET CHALLENGES FACING WEMIX, THE COMPANY HAS NO INTENTION OF SLOWING DOWN ITS EFFORTS TO EXPAND ITS BUSINESS AND INVESTMENTS. In October 2023, WEMIX PTE. LTD. and Mirana Ventures jointly established a $30 million fund to invest in five active Chinese games involving longest game genres, which are expected to join the WEMIX3.0 blockchain game platform WEMIX PLAY. In addition, WEMIX has also entered into a strategic partnership with Singapore's Whampoa Digital to jointly launch the US$100 million Wemade Web3 Fund, aiming to further expand its influence in the Web3 field.
When it comes to technological innovation, WEMIX is not far behind. In February 2024, WEMIX changed the name of its Token-based communication platform "PAPYRUS Messenger" to "una Messenger" and launched it on the Google Play Store and Apple App Store. The platform update includes DAO integration, strengthening the convergence of community and technology. At the same time, the WEMIX Foundation has adopted a strategy of Halving measures and partial Token of bulk shares in order to stabilize its economic model and optimize the Block minting structure.
These positive investments and technological advances show that WEMIX is working to overcome existing challenges and seek continued rise and innovation. However, under the dual influence of legal scrutiny and a crisis of Crisis of Confidence in the market, the future of WEMIX remains uncertain. Whether these strategic actions can finally be transformed into the key to corporate recovery and market trust remains to be verified by the market and time. In today's ever-changing Blockchain game field, whether WEMIX can truly realize its grand blueprint is not only the desire of investors, but also the focus of the entire industry, isn't it?
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GateUser-5a5cea3d
· 2024-05-04 08:19
WemiX.PALY Wallet Why is the backend server closed in China, and the announcement says that the Korean prosecutor has inspected the Wallet Secret Key, is this news true? When will it be reopened?
Reply0
Fortune88888888
· 2024-04-26 01:26
All in All in 🙌
Reply0
Ziluo
· 2024-04-25 10:49
In short, Wemix has encountered longer obstacles and challenges, but it still operates within the legal system and maintains active expansion
WEMIX Reduction Strategy Shakes the Encryption Market: Can the New Measures Break Through the Double Danger of Law and Market?
Against the backdrop of Fluctuation in the Crypto Assets market, the fate of WEMIX has attracted widespread attention within the industry. The latest data shows that while the Web3 gaming sector has attracted a lot of capital, its high average annual failure rate of 80.8% highlights the instability and risks in the sector. In addition, WEMIX announced in March 2024 that it would reduce its max supply by 60% in an attempt to improve its market position by restructuring tokenomics.
However, WEMIX's market challenges are not unprecedented. In November 2022, WEMIX was exchange delisting by long Korea due to being marked as a warning item by the Korea digital asset exchange Association, and the price big dump to 0.42 USDT at one point. The incident severely affected its market capitalization and investor confidence.
Despite facing significant market fluctuations, WEMIX continues to aggressively expand in the Blockchain gaming space. In 2023, through a $30 million fund co-established with Mirana Ventures, WEMIX invested in five Chinese game developers across longest game genres. This strategy shows WEMIX's commitment to the development of Blockchain games, although the future is still uncertain.
Let's start with WEMIX.
WEMIX: Accumulate a global Blockchain game ecosystem through a longest chain architecture to achieve innovation in scalability and transaction efficiency
WEMIX's longest game platform architecture and its challenges
The initial construction of the WEMIX platform stems from the comprehensive empowerment of the current Blockchain game market, especially in the implementation of the longest chain architecture. The team analyzed the existing Blockchain game platforms and identified three mainstream technology paths: single-chain and longer chain architectures. The WEMIX team chose tonight, highlighting in particular the integration of features such as Tokenomics, GameFi, Marketplace, etc., which are all based on "longest chains" infrastructure.
The reason for longing chain as a strategic development direction is longer. First of all, the WEMIX team has 20 years of selection experience from the global game industry, which provides them with a superb foundation in the development of longest chain platforms. The WEMIX platform practices advanced technical design and strong capabilities, but despite these advantages, the challenges of the platform in actual operation are also significant, such as dealing with the complexity of cross-chain interoperativity, data synchronization issues, and maintaining high availability of the system.
Recognized ecological components and value-added services
WEMIX's longest chain architecture not only enhances the scalability of the platform, but also drops the complexity of operations. Compared to traditional single-chain gaming platforms, WEMIX effectively streamlines the interaction process for users by integrating key components such as Wallet, NFT Marketplace, etc. directly into the on-chain. In addition, the WEMIX also leverages its unique long chain technology, such as through modules such as WEMIX PLAY and WEMIX.Fi, to seamlessly combine the game economy and DeFi (Decentralized Finance), enhancing the platform's economic viability and user engagement.
Three strategies to lead the industry innovation
Strong user experience – Through its longest chain infrastructure, WEMIX enables users to flexibly manage and trade assets on different chains, greatly improving the user experience;
Enhanced economic activity - Through the integration of Tokenomics and GameFi, WEMIX enhances the economic cycle within the game and improves the liquidity and value of assets;
Cross-chain interoperability - WEMIX enables seamless trading of assets on different blockchains by realizing the interconnection between longest chains, further opening up market boundaries and new user groups.
Through these comprehensive ecosystem components and innovative solutions, WEMIX actively promotes its leading position in the global Blockchain gaming market, while also facing the challenges and opportunities brought by market changes.
WEMIX Turmoil: Legal Review and Market Crisis of Confidence Emergency Analysis, Project Prospects Face Uncertainty
In June 2023, a WEMIX Token market maker launched by WeMade, a South Korean-listed gaming company, faced a full mandatory investigation. The move was in response to a complaint filed by WEMIX investors with prosecutors the previous month. The allegations, including fraud, are one of the latest in the controversy that has sparked controversy at WeMade in recent years.
Traceability of WeMade dates back to November 2020 to January 2022, when Manhattan sold 225.5 billion won worth of WEMIX without notifying WEMIX users and used the funds to acquire a company. At the end of 2022, the issuance quantity of WEMIX was suspected of being leaked, and a legal dispute arose with the country's trading platform, resulting in the final delisting of WEMIX by several major encryption trading platforms in South Korea.
What's even more worrying is that in January 2024, South Korea's national tax recovered 53.69 billion won in taxes from WeMade. This amount is the sum of the taxes levied on WeMade and its subsidiary, Wemade Tree. The National Tax Service conducted a tax investigation on WeMade and the Virtual Money WEMIX that we made Tree issuance and used in the past, and decided to collect a recovery fee.
However, WeMade was not the only subject of the investigation. According to a February 2024 report, the Public Prosecutor's Office is investigating WeMade on charges of allegedly evading the responsibility of virtual asset operators to report and obtaining additional benefits within the law. In addition, WeMade is accused of violating the law by increasing the number of subsidiaries and building a P2E (Play to Earn) ecosystem based on "WEMIX 3.0". The Public Prosecutor's Office is particularly concerned about the virtual asset exchange "Phenix" and the virtual asset Wallet "PlayWallet" proposed by WeMade for certain acts that may have violated the specific Financial Information Act by failing to provide users with personal passwords.
These events not only put WEMIX investors in trouble, but also dealt a heavy blow to WeMade's credit cards. As the investigation progresses, South Korea's initial attempt to protect market participants and boost the national economy while addressing the challenges of virtual asset crime has also become the focus of global attention.
Longing measures at the same time, can the WEMIX that has experienced danger turn things around?
DESPITE THE SIGNIFICANT LEGAL AND MARKET CHALLENGES FACING WEMIX, THE COMPANY HAS NO INTENTION OF SLOWING DOWN ITS EFFORTS TO EXPAND ITS BUSINESS AND INVESTMENTS. In October 2023, WEMIX PTE. LTD. and Mirana Ventures jointly established a $30 million fund to invest in five active Chinese games involving longest game genres, which are expected to join the WEMIX3.0 blockchain game platform WEMIX PLAY. In addition, WEMIX has also entered into a strategic partnership with Singapore's Whampoa Digital to jointly launch the US$100 million Wemade Web3 Fund, aiming to further expand its influence in the Web3 field.
When it comes to technological innovation, WEMIX is not far behind. In February 2024, WEMIX changed the name of its Token-based communication platform "PAPYRUS Messenger" to "una Messenger" and launched it on the Google Play Store and Apple App Store. The platform update includes DAO integration, strengthening the convergence of community and technology. At the same time, the WEMIX Foundation has adopted a strategy of Halving measures and partial Token of bulk shares in order to stabilize its economic model and optimize the Block minting structure.
These positive investments and technological advances show that WEMIX is working to overcome existing challenges and seek continued rise and innovation. However, under the dual influence of legal scrutiny and a crisis of Crisis of Confidence in the market, the future of WEMIX remains uncertain. Whether these strategic actions can finally be transformed into the key to corporate recovery and market trust remains to be verified by the market and time. In today's ever-changing Blockchain game field, whether WEMIX can truly realize its grand blueprint is not only the desire of investors, but also the focus of the entire industry, isn't it?