Posted: December 22, 2023 2:38 PM Updated: December 22, 2023 2:38 PM
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Singapore-based Whampoa Digital and Wemade, a leading Korean game company, have entered into a strategic partnership and will jointly create a $100 million Web3 fund.
$100 million Web3 Fund and Digital Asset Initiative in the Middle East
Singapore-based Whampoa Digital and Wemade, a leading Korean gaming company, have signed a strategic partnership and agreed to cooperate in the $100 million Web3 Fund to be established by Wemade.Wemade Web3 Fund”) and digital asset initiatives in the Middle East.
As part of this collaboration, Whampoa Digital will become an ecosystem partner of Wemade WEMIX PLAY Center and Wemade Web3, located in Wemade’s Dubai International Financial Center Innovation Hub (DIFC Innovation Hub). accumulation. Both parties will engage in mutual transactions and project recommendations, especially in the Web3 industry, and jointly invest in potentially promising projects.
Under the non-binding memorandum signed today, Whampoa Digital and Wemade will leverage each other’s technical and operational know-how to develop blockchain infrastructure and solutions for the gaming and Web3 industries. The developed solutions will be applied and integrated into financial institutions serving these industries, facilitating seamless adoption of digital assets globally.
Wemade operates WEMIX PLAY, a global Web3 gaming platform with over 250,000 concurrent users. We have developed a suite of blockchain solutions and have a strong track record of investing in gaming studios such as Lionheart Studio, Shift Up, and MADNGINE, most notably the developers of the massively successful NIGHT CROWS mobile and PC games.
Wemade is also developing WEMIX PLAY Center, a global Web3 gaming hub, at the DIFC Innovation Hub. The $100 million Wemade Web3 Fund targets promising game studios and blockchain projects that want to set up offices at the Wemix Play Center. DIFC Innovation Hub and WEMIX PLAY Center will provide state-of-the-art facilities and mentoring support to Wemade Web 3 Fund investment companies.
The DIFC Innovation Hub is the largest innovation community in the MENA region, home to more than 700 growth-stage technology companies, established innovation companies, digital labs, venture capital firms, regulators and academic institutions.
Whampoa Digital is the technology investment arm of Whampoa Group, a privately held investment company owned by several affiliates in Asia. An early investor in digital assets and Web3 ventures, we work with Web2 and Web3 visionaries to drive innovation and mass adoption of blockchain technology. We will also establish Singapore Gulf Bank, a digital bank in Bahrain, to provide digital banking services to global investors, innovators and institutions participating in the digital economy.
Aureole Foong, Senior Partner at Whampoa Group, said, “We are delighted to join forces with Wemade, a powerhouse in the gaming space. “This partnership will enable us to explore new horizons in the digital asset industry beyond already established sectors, as well as foster innovation in the Middle East, one of the world’s fastest growing regions for Web3.”
Wemade CEO Henry Chang said, “Through our partnership with Whampoa Digital, a leading Singapore investment firm, we are committed to sharing valuable insights related to blockchain technology, and each party brings unique benefits to the partnership. “We are applying our expertise,” he said. “We will continue to expand cooperation with excellent global partners.”
This partnership demonstrates Wemade’s growing capabilities as an operational and technology provider of blockchain solutions beyond gaming and is consistent with Wemade’s ongoing efforts to expand its business footprint into the Middle East and North Africa region.
Introduction to Wemade
Wemade, a renowned industry leader and innovator in game development, is now driving a once-in-a-generation change as the global gaming industry transitions to blockchain technology. Wemade, through its subsidiary WEMIX, has built an experience-centered, platform-centered, and service-centered mega ecosystem to provide a variety of intuitive, convenient, and easy-to-use Web3 services. This includes WEMIX PLAY, the world’s largest blockchain game platform that can transform games of all genres into blockchain games. www.wemix.com/communication
About Whampoa Digital
Whampoa Digital is the technology investment arm of Whampoa Group, a privately held investment group based in Singapore. It was founded by several Asian families dedicated to fostering businesses and innovation. The founding family is also the owner of some of Asia’s largest and most established companies in commodities, banking, insurance and real estate, and has invested in many hyper-growth companies in areas such as automation, new energy, fintech and emerging sectors. Web3, blockchain and digital assets.
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About the author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.