TI Rating Report: WEMIX

WEMIX is a blockchain gaming ecosystem backed by WEMADE, a Korean game developer. It was previously deployed as a sidechain of Klaytn on June 17, 2020, and then launched its blockchain mainnet on Oct 20, 2022. The primary vision is to create a blockchain gaming platform servicing various games with their own tokenomics on the blockchain network.

WEMIX3.0 comprises a blockchain mainnet, three core platforms, and two tokens (a utility and governance token, $WEMIX, and a stablecoin, $WEMIX$).

As of February 2023, WEMIX has deployed its blockchain network, tools (Block Explorer, PLAY Wallet, and WEMIX3.0 Wallet), and its main platforms (WEMIX PLAY, NILE, and WEMIX.FI).

$WEMIX is the native coin of WEMIX3.0 with utility and governance functions. It is ERC20-based, which can be used as a medium of exchange and payment method (e.g. gas fee) on the WEMIX mainnet.

$WEMIX was initially deployed on Klaytn, and the token has been converted to $WEMIX coin on the WEMIX3.0 mainnet. The original token is renamed WEMIX Classic.

TokenInsight gives WEMIX a rating of B, with a positive outlook.