Money

Wemade Makes Strategic Investment in DRX

Published by

James Fudge

1 year ago

Wemade Makes Strategic Investment in DRX

Game developer Wemade Co., Ltd announced Friday that it has made “a strategic investment” in South Korean esports organization DRX. Financial terms of the investment were not disclosed, but in a release the company said that it will “onboard DRX’s IP) and tap into the organization’s 3.7M-strong fanbase.

While the Seongnam, South Korea-based Wemade is currently pushing its blockchain-based NFT platform called WEMIX, the company is better known outside South Korea for its trio of massively multiplayer role-playing games in the The Legend of Mir series.

DRX (formerly DragonX) is a top-performing esports organization that competes in such games as League of Legends, Valorant, TEKKEN 7, Warcraft 3, Honor of Kings, Clash Royale, and many others. More importantly, DRX was recently crowned the 2022 League of Legends World champions. Its partners and sponsors include Kakao Friends, Shinhan Bank, Red Bull, McLaren, HyperX, Xenics, ETAC, and Logitech G, among others.

James Fudge

With a career spanning over two decades in the esports and gaming journalism landscape, James Fudge stands as a seasoned veteran and a pivotal figure in the evolution of esports media. His journey began in 1997 at Game-Wire / Avault, where he curated gaming and community news, laying the groundwork for his expertise in the field. In his more recent roles, James cemented his status as an authority in the esports business sphere as Senior Editor Esports at Sports Business Journal and The Esports Observer between 2018 and 2021.