South Korean Video Game Publisher Wemade Launches $100M Blockchain Gaming Fund
South Korean video game publisher Wemade has recently announced the establishment of a $100 million fund aimed at investing in blockchain gaming initiatives. The fund, called the Wemade Web3 Fund, will provide financial, technical, and regulatory assistance to companies building solutions around blockchain technology. Wemade has partnered with Singapore-based investment firm Whampoa Digital to accelerate the adoption of blockchain in the Middle East.
Wemade and Whampoa Digital Collaborate to Boost Blockchain Adoption in the Middle East
The collaboration between Wemade and Whampoa Digital is intended to promote the use of blockchain technology in the Middle East. Both companies have previously explored blockchain ventures outside their areas of expertise. Wemade, known for its traditional video games, has already developed several blockchain-based games. Whampoa Digital, on the other hand, has invested in multiple Web3 ventures in Asia. By combining their strengths, the two companies aim to expand the reach of their investment and provide support to promising blockchain projects.
Wemade Web3 Fund to Support Middle Eastern Startups in Digital Collectibles and DeFi
The Wemade Web3 Fund will focus on supporting startups in the Middle East that are involved in digital collectibles, metaverse, decentralized finance (DeFi), blockchain-based gaming, and digital identity solutions. These startups will receive funding to help develop their projects and bring them to market. With the growing popularity of blockchain technology in the Middle East, this investment fund aims to foster innovation and contribute to the region’s rapidly expanding Web3 sector.
Wemade CEO: Partnership with Whampoa Digital Will Foster Innovation in the Middle East
According to Wemade CEO Henry Chang, the partnership with Whampoa Digital will enable the two companies to share valuable insights related to blockchain technology and leverage their unique expertise. This collaboration is expected to foster innovation in the Middle East, which is regarded as one of the world’s fastest-growing regions in the Web3 space. By combining their resources and knowledge, Wemade and Whampoa Digital hope to pioneer new horizons in the digital asset industry.
Wemix Play Center in Dubai to Serve as Hub for Wemade Web3 Fund-Backed Startups
Wemade is reportedly developing the Wemix Play Center, a commercial building in the Dubai International Financial Centre (DIFC). The DIFC is known for housing blockchain firms, making it an ideal location for startups involved in blockchain gaming and Web3 solutions. Startups backed by the Wemade Web3 Fund will have the opportunity to set up shop at the Wemix Play Center, promoting collaboration and synergy among the companies. This physical hub will facilitate networking and facilitate the growth of the blockchain gaming ecosystem in the Middle East.
In conclusion, South Korean video game publisher Wemade and Singapore-based Whampoa Digital have joined forces to establish the Wemade Web3 Fund, a $100 million fund aimed at supporting blockchain gaming initiatives and Web3 startups in the Middle East. With financial, technical, and regulatory support, startups in the region will have the opportunity to develop innovative solutions in digital collectibles, DeFi, blockchain-based gaming, and more. The partnership between Wemade and Whampoa Digital is expected to foster innovation, accelerate blockchain adoption in the Middle East, and contribute to the growth of the Web3 sector globally.
Analyst comment
Positive news: South Korean video game publisher Wemade and Whampoa Digital collaborate to launch the Wemade Web3 Fund, a $100 million fund aimed at supporting blockchain gaming initiatives and Web3 startups in the Middle East. Startups will receive financial and regulatory support, fostering innovation and accelerating blockchain adoption in the region. The partnership is expected to contribute to the growth of the Web3 sector globally. This news is positive for the market as it highlights the increasing interest and investment in blockchain technology within the gaming industry and the potential growth opportunities in the Middle East.
