South Korean game developer, Wemade, has announced a strategic investment in Froyo Games on the 31st of May. Froyo Games is a multichain GameFi platform that has multiple games and development initiatives supported by its strategic partner iCandy Interactive.
With over 20 years of track record and blockbuster MMORPG “Legend of MIR series”,
Wemade is well-known by hundreds of millions of players globally. The Company is
currently servicing more than a dozen P&E games, including a global hit MMORPG MIR
4, in which users can trade items and characters by WEMIX token. MIR 4 alone
gathered 6.5 million monthly average users across 170 countries in a few months.
WEMIX platform welcomes both in-house games and other studio games with leading
blockchain technology of the industry. Players can earn game tokens by playing games
and then swap with WEMIX which can be traded in global exchanges. Currently 13
games are on board in the WEMIX platform and the platform aims to service 100 games
by the end of 2022.
Froyo Games was launched in January 2022 via an Initial farming Offer at
Pancakeswap, one of the largest defi platforms in the world. Since its launch, Froyo
Game has announced its principal strategic partner iCandy Interactive and several
major game-titles in co-development with iCandy Interactive.
Australia-listed firm iCandy Interactive (ASX: ICI) is one of the largest independent
game developers in Australia and South East Asia that develops and publishes
traditional and Web 3.0 games. iCandy Interactive employs more than 600 full-time
employees across multiple countries.
iCandy Interactive has recently acquired Lemon Sky Studios and Storms to achieve
their regional expansion plans. Lemon Sky Studios is an award winning game studio
that provided game art and animation solutions to a long list of AAA game titles that
include Call of Duty, Final Fantasy, Diablo II, The Last of Us II, Marvel Spiderman,
Mortal Kombat etc.
Another notable subsidiary of iCandy Interactive is Storms, a Singapore based game
developer and publisher that was founded by Singtel, AIS, and SK Telecom – the
largest mobile network operators in Asia.
Froyo Games provides a Web 3.0 platform and NFT marketplace based on their own
token FROYO. It’s based on Ethereum and Binance Smart Chain that provides an
accessible ecosystem to game developers and users. Froyo is listed on PancakeSwap,
Apeswap, BKEX, BTSE and CoinW and their major investors are Animoca Brands,
Spartan, GBV, XT Labs and Gate.io etc.
iCandy and Froyo announced their partnership agreement in March 2022 for 7 years to
seek opportunities in blockchain gaming platform and metaverse technology.
Wemade expects expansion of the WEMIX ecosystem as well as the market
appearance and more contents by working closely with Froyo Games and iCandy
Henry Chang, the CEO of Wemade said “Coupled with WEMIX, a proven utility coin
and WEMIX Dollar, a 100%-collateralized stablecoin, we will launch our own mainnet
WEMIX3.0 with DAO-based NFT platform NILE and various DeFi protocols. With the
open platform WEMIX3.0, we intend to roll out an omnidirectional game partnership
ecosystem throughout the world. iCandy and Froyo Games will be our strong partners
who will bring more value to Wemix 3.0”.
Kin Wai Lau, the Chairman of iCandy Interactive said “Together with Froyo Games,
iCandy Interactive is pleased to work alongside a prominent global game company
Wemade to further develop the Web3.0 gaming ecosystems across the geographies we
have presence in. The combined strength of our union will add exponential ability to our
product development and marketing capabilities”.
The strategic investment in Froyo Games is for a significant but undisclosed sum.