Wemade makes strategic investment in Move-to-Earn (M2E) project SNKRZ

PR Newswire
04 Aug 2022, 08:16 GMT+10

Wemade invests in a full range of blockchain projects.
SNKRZ introduces a new business model to Move-to-Earn (M2E) services.
SNKRZ reaches No. 1 NFT sales on OpenSea's Klaytn blockchain with 100.000 community members.

SEOUL, South Korea, Aug. 4, 2022 /PRNewswire/ -- Wemade Co., Ltd. (CEO Henry Chang) made a strategic investment in the next-generation M2E (Move-to-Earn) project SNKRZ. SNKRZ users can exercise and receive coins as a reward.

SNKRZ pursues a sustainable business model by adding the concept of LAND linked to real-world maps to existing M2E business models that allow users to purchase sneaker NFTs and exercise to receive coins. These coins can then be used to conduct NFT repair or to level up.

SNKRZ's NFTs topped OpenSea (the world's first and largest NFT marketplace)'s sales chart based on the last 30 days' volume on the Klaytn blockchain, which indicates the project's early success.

Wemade is investing in blockchain companies and projects of all kinds. The company recently received positive attention for its successful investment in luxury fashion metaverse ALTAVA's TAVA coin and South Korea's first short-form platform CELEBe's FANC coin.

Wemade is actively investing in blockchain projects characterized by their utility or real practical use and has been successful so far. The new investment in SNKRZ is expected to reap high returns while contributing to the expansion of Wemix ecosystem.

SNKRZ has already secured 100,000 community members and is growing to become the largest NFT project in South Korea. It is also being recognized globally, as more than 70% of its users are in overseas countries including Japan. Wemade will cooperate to further accelerate the global expansion of SNKRZ.

Additionally, SNKRZ is the world's first M2E service to be linked to Apple Watch. It targets users who are unfamiliar with blockchain technology through an open mode that supports various exercise modes (walking, running, cycling, climbing). Users can then enjoy the app without initially owning an NFT lowering barrier to entry.

Wemade CEO Henry Chang said "I expect the M2E project SNKRZ, which has clear utility, to increase the diversity of WEMIX 3.0's ecosystem." He added "More specifically, games and real-life activities will be linked through blockchain economy".