Microsoft Invests In Blockchain Developer

Blockchain technology and NFTs have been mentioned a few times in this class. It certainly seems as though NFTs face growing pushback and have lost a great deal of popularity. Gamers have also voiced displeasure at increasing monetization and the emergence of “Pay-to-Earn” video games. Phil Spencer, the CEO of Microsoft’s gaming division, has himself expressed skepticism of the technology. Back in 2021, he described NFT and blockchain-enabled games as more “exploitative” and less “about entertainment”.

And so, it seems to me a little strange that Microsoft has invested in Wemade, a “blockchain-focused game developer” (whatever that means). Wemade released Mir 4 in 2018, describing it as “the world’s first well-made blockbuster blockchain game”. The developer confirmed that Microsoft was part of an investment round in the company that totalled nearly $46 million. How much of the total figure was contributed by Microsoft was not disclosed.

While Spencer may have significant influence in Microsoft, he heads the company’s Xbox division. As a result, his own views may be given less weight when it comes to investment decisions that will affect the corporation as a whole. Perhaps Microsoft, despite Spencer’s skepticism, does see a future in which NFTs and blockchain technology are a worthwhile platform to be invested in.