Whampoa Digital, the tech investment arm of Singapore-based Whampoa Group, and Korean gaming company Wemade have formed a strategic partnership to collaborate on a US$100 million Web3 fund.
Wemade Web3 Fund seeks to invest in promising gaming studios and blockchain projects that intend to set up an office in its WEMIX PLAY Center, located in Dubai International Financial Centre’s Innovation Hub (DIFC Innovation Hub). WEMIX PLAY is a Web3 platform that can transform games of every genre into blockchain games. It has over 250,000 concurrent players.
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DIFC Innovation Hub and WEMIX PLAY Center will provide state-of-the-art facilities and mentorship support to Wemade Web3 Fund’s investee companies. Whampoa Digital will be an ecosystem partner to the Center.
WEMIX PLAY has developed blockchain solutions and invested in gaming studios, such as Lionheart Studio, Shift Up and MADNGINE, the developer behind NIGHT CROWS mobile and PC games.
Whampoa Digital and Wemade will engage in mutual deal and project referrals, particularly in the Web3 industry, and potentially co-invest in promising projects. They will also leverage each other’s technical and operational know-how to develop blockchain infrastructure and solutions for the gaming and Web3 industries. The solutions will be applied and integrated with financial institutions supporting these industries to promote the seamless adoption of digital assets globally.
Whampoa Group Senior Partner Aureole Foong said: “This partnership will allow us to pioneer new horizons in the digital asset industry beyond our already established sectors, as well as foster innovation in the Middle East, one of the world’s fastest-growing regions in the Web3 space.”
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Wemade, through its subsidiary WEMIX, is building an experience-based, platform-driven, and service-oriented mega-ecosystem to offer a wide spectrum of intuitive Web3 services.
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