WEMIX

In a groundbreaking move, Singapore-based Whampoa Digital and South Korean gaming giant Wemade announced a strategic partnership to create aUS$100 million Web3 Fund. This collaboration aims to foster digital asset initiatives across the Middle East.This ambitious project, named the Wemade Web3 Fund, will see <a href="https://www.whampoadigital.com" rel="noopener noreferrer nofollow">Whampoa Digital</a> becoming a key ecosystem partner. They will join forces with Wemade’s WEMIX PLAY Center, located at Dubai International Financial Centre&#39;s Innovation Hub (DIFC Innovation Hub). This collaboration will focus on mutual deal referrals and potential co-investments, particularly in the burgeoning Web3 industry.A pivotal moment in the agreement was the signing of a non-binding memorandum. Both companies aim to utilize each other&#39;s expertise in developing innovative blockchain infrastructure and solutions targeted at the gaming and Web3 sectors. These developments are expected to facilitate the seamless adoption of digital assets worldwide.Wemade is renowned for operating WEMIX PLAY, a leading global Web3 gaming platform that boasts over 250,000 concurrent players. The company has made significant strides in blockchain technology and has a strong investment history in gaming studios. This includes investments in Lionheart Studio, Shift Up, and MADNGINE, the creators of the highly successful NIGHT CROWS mobile and PC game.The upcoming WEMIX PLAY Center at DIFC Innovation Hub, funded by the Wemade Web3 Fund, aims to attract promising gaming studios and blockchain projects. This initiative will provide these entities with cutting-edge facilities and expert mentorship.DIFC Innovation Hub stands as the largest innovation community in the MENA region, housing over 700 tech firms, venture capital firms, and educational entities. This hub is set to play a crucial role in the partnership.Whampoa Digital, part of the Whampoa Group, has a history of early investments in digital assets and Web3 ventures. It is currently establishing the Singapore Gulf Bank in Bahrain, which will offer digital banking services to participants in the digital economy.Aureole Foong, Senior Partner at Whampoa Group, expressed excitement about the partnership with Wemade, noting its potential to drive innovation in the Middle East&#39;s rapidly growing Web3 space.Wemade&#39;s CEO, Henry Chang, highlighted the mutual benefits of the partnership with Whampoa Digital. He emphasized the collaboration&#39;s aim to expand knowledge and application of blockchain technology.This partnership marks Wemade&#39;s expansion beyond gaming, showcasing its growing capabilities as a provider of blockchain solutions. It aligns with the company&#39;s commitment to extending its influence in the Middle East and North Africa region.About WEMADE: <a href="https://www.wemade.com" rel="noopener noreferrer nofollow">Wemade</a>, a leader in game development, is spearheading the global games industry&#39;s shift to blockchain technology. Through its subsidiary WEMIX, the company is building a comprehensive Web3 ecosystem, featuring WEMIX PLAY, the world&#39;s largest blockchain gaming platform.About Whampoa Digital: Whampoa Digital, the technology investment arm of Whampoa Group, focuses on fostering innovation in various sectors including Web3, blockchain, and digital assets. The group, founded by prominent Asian families, has diverse investments across multiple sectors.

Whampoa Digital and Wemade Launch $100M Web3 Fund and Digital Asset Initiatives in the Middle East

Crypto Adventure

Other articles published on Dec 22, 2023

3 Tokens With the Vision for the Future: Fusionist (ACE), Retik Finance (RETIK), and Solana (SOL)

Top Analyst Explains Why 2023 Isn’t the Start of the Bull Market; BTC and ETH Expected to See New...

VeChain: Here's How To Be a Millionaire When VET Hits $0.1

MoonPay Enhances NFT Buying Experience with Advanced Checkout Tool

Crypto Trader Says AI Altcoin Close to Pushing to New All-Time Highs After Picture-Perfect Retest

SEC Intensifies Examination of AI in Financial Institutions

Join our free newsletter for daily crypto updates!