Whampoa Digital and Wemade Form Landmark Partnership to Propel Web3 Ecosystem in the Middle East
In a significant move that promises to reshape the landscape of the digital asset industry, Singapore’s Whampoa Digital and South Korean gaming giant Wemade have announced a groundbreaking partnership. This collaboration centers on the establishment of a colossal US$100 million Web3 Fund by Wemade, aptly named the Wemade Web3 Fund, and focuses on pioneering digital asset initiatives across the Middle East.
Whampoa Digital, a vanguard in technology investment, will become an integral ecosystem partner in Wemade’s ambitious WEMIX PLAY Center, situated in the bustling Dubai International Financial Centre’s Innovation Hub (DIFC Innovation Hub). The partnership further extends to collaborative efforts in project referrals and potential co-investments, specifically targeting innovative prospects within the Web3 domain.
A pivotal aspect of this alliance is the memorandum signed today, under which Whampoa Digital and Wemade will amalgamate their expertise to develop advanced blockchain infrastructure and solutions. These solutions are not only tailored for the gaming and Web3 industries but are also designed to be integrated seamlessly with financial institutions, facilitating the global adoption of digital assets.
Wemade, renowned for operating WEMIX PLAY, a global leader in Web3 gaming, boasts over 250,000 concurrent players. Its portfolio includes a range of blockchain solutions and investments in eminent gaming studios like Lionheart Studio, Shift Up, and MADNGINE, known for the highly successful NIGHT CROWS game.
The partnership also heralds the development of the WEMIX PLAY Center, envisioned as a global nexus for Web3 gaming within the DIFC Innovation Hub. The Wemade Web3 Fund, with its US$100 million capital, aims to nurture promising gaming studios and blockchain projects, especially those planning to establish a presence at the WEMIX PLAY Center. Beneficiaries of the fund can expect access to top-tier facilities and mentorship at the DIFC Innovation Hub, a leading hub for innovation in the MENA region.
Meanwhile, Whampoa Digital, the tech-focused wing of the esteemed Whampoa Group, brings to the table its extensive experience in digital assets and Web3 ventures. The group is also in the process of establishing the Singapore Gulf Bank in Bahrain, further underscoring its commitment to the digital economy.
Aureole Foong, Senior Partner at Whampoa Group, expressed enthusiasm about the partnership:
Joining forces with Wemade allows us to break new ground in the digital asset space and catalyze innovation in the Middle East, a rapidly evolving Web3 market.
Wemade’s CEO, Henry Chang, mirrored this sentiment, emphasizing the mutual exchange of blockchain expertise and the partnership’s potential to foster global collaborations.
This partnership signifies Wemade’s expanding role as a provider of blockchain solutions beyond gaming, aligning with its strategic focus on the Middle East and North Africa region.
About WEMADE
Wemade, a trailblazer in game development, is spearheading the transition to blockchain technology in the global games industry. Through WEMIX, it aims to create a comprehensive ecosystem offering various user-friendly Web3 services. This includes WEMIX PLAY, the largest blockchain gaming platform worldwide, capable of transforming diverse game genres into blockchain-enabled games.
About Whampoa Digital
Whampoa Digital, the technological investment arm of Whampoa Group, represents a coalition of Asian families committed to fostering innovation. With roots in various industries like commodities, banking, and real estate, these families have ventured into emerging sectors such as Web3, blockchain, and digital assets.
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