WEMIX (WEMIX) is attracting Mr. Market’s attention. For example, WEMIX was CoinMarketCap’s most trending cryptocurrency on 28 January 2022.
So what is WEMIX and why is Mr. Market attracted to it? WEMIX is a gaming platform built by Wemade Tree. Wemade Tree is a subsidiary of the Chinese gaming company, Wemade Entertainment Digital Technology. Wemade is a successful gaming company. Wemade’s speciality is Massive Multiplayer Online Games (MMORGs).
Hence, WEMIX is a blockchain platform for MMORGs. Additionally, WEMIX (WEMIX) is a cryptocurrency people use to pay for play and items in the Wemade games. In addition, they will use WEMIX for blockchain rewards.
IS WEMIX Scalable?
WEMIX is a blockchain platform for MMORGs. Additionally, WEMIX (WEMIX) is a cryptocurrency people use to pay for play and items in the Wemade games. In addition, they will use WEMIX for blockchain rewards.
The primary attribute of WEMIX is scalability. To explain, the WEMIX white paper claims they built the WEMIX blockchain to provide a high level of transactions per second (TPS).
To elaborate, most blockchains have a low rate of TPS because of their low capacity. For example, Ethereum’s blockchain was processing 3.24 to 15.90 TPS on 28 January 2022, ETHTPS.info estimates. Similarly, Loopring (LRC) was processing only 5.76 TPS on the same day.
Hence, we can view WEMIX as an effort to solve the blockchain scalability problem for gaming. To explain, if Ethereum is only processing 3.24 TPS and 100 people try to play an Ethereum game at once. The Ethereum game could stop or cash.
Additionally, the players could have to wait for several minutes or longer to play the game or buy weapons. I think players would not use a gaming platform that took several minutes or longer to process transactions for weapons or skins.
What Games does WEMIX offer?
For example, Wemade claims its Legend of Mir game has over 500 million users in China. In addition, Wemade has over 10 subsidiaries including Joymax, Flero Games, 4:33 Creative Labb, IMC Games, Hound 13, Ndream, Lion Heart, Shift Up, XL Games, Raidmob, and Pulsar Creative.
Wemade owned games include Wind Runner, Every Town, Icarus, The Legend of Mir, Avalon Online, Lost Saga, Aster Online, Changhchun Online, Candy Pang, Touch Fighter, Yul Hyul Kang Ho, My Secret Bistro, Abyssrium, Goddess’s Kiss, and Viking Island. Interestingly, WEMIX’s website only mentions one of those games, Global Mir 4.
Instead, WEMIX offers several other games including Rise of Stars, Cryptornado, Bird Tornado, Aqua Tornado, Blade Reaction, and Galaxy Tornado. I do not know if the Blade game has any connection to the Marvel Comics and movie character Blade. WEMIX apparently sells the games as nonfungible tokens (NFTs).
What is the Market for MMOGs?
I think the market for cryptos such as WEMIX (WEMIX) could be enormous because massive mulitplayer online games are popular.
For example, the MMOG, FINAL FANTASY XIV, had 36.755 million total players and 2.095 million active players on 28 January 2022, Population.com estimates. In contrast, the largest MMOG World of Warcraft had 116.862 million total players and 1.284 million active players on the same day.
Additionally, Population.com estimates 14 MMOGs had over 10 million players on 28 January 2022. Notably, none of Wemade’s games appears on Population.com’s list of the most popular games.
Therefore, the market for MMOGs is enormous. WEMIX is building a solution for a growing market where millions of people fork over money to play games each day.
What Value Does WEMIX have?
Mr. Market thinks WEMIX (WEMIX) has some value. For example, WEMIX had a $6.06 Coin Price on 1 February 2022. Additionally, CoinMarketCap listed WEMIX as the 214th largest cryptocurrency on 1 February 2022.
In detail, CoinMarketCap gave WEMIX a $746.622 million Market Cap, a $6.147 billion Fully Diluted Market Capitalization, and a $55.020 million Market Capitalization on 1 February 2022. They based those numbers on a Circulating Supply of 123.234 million WEMIX, a Maximum Supply of 1.016 billion WEMIX, and a Total Supply of 1.018 billion WEMIX.
In contrast, Coinbase gave WEMIX a Coin Price of $6.05, a $746.9 million Market Cap, and a $55 million 24-Hour Market Volume on 1 February 2022. They based those numbers on a Circulating Supply of 123.2 million WEMIX.
I think WEMIX (WEMIX) is an interesting cryptocurrency that could make money because its website has games for sale. Many so-called gaming platforms offer no games for sale. Additionally, WEMIX is associated with a successful gaming company.
However, WEMIX is a secretive company that does not reveal many details and other technology. I consider WEMIX a cryptocurrency to watch but not one to buy because of the secrecy. However, if you are seeking a gaming cryptocurrency to speculate in, I think WEMIX is worth examining.