Sponsored
December 22, 2023

Whampoa Digital and Wemade in strategic for

In Brief

Singapore-based Whampoa Digital and Wemade, a leading Korean gaming company, have entered into a strategic partnership to collaborate on a US$100 million Web3 Fund to be established by Wemade

US$100 million Web3 Fund and digital asset initiatives in the Middle East 

Singapore-based Whampoa Digital and Wemade, a leading Korean gaming company, have entered into a strategic partnership to collaborate on a US$100 million Web3 Fund to be established by Wemade (“Wemade Web3 Fund”) as well as on digital asset initiatives in the Middle East.

As part of this collaboration, Whampoa Digital will be an ecosystem partner to Wemade’s WEMIX PLAY Center in Dubai International Financial Centre‘s Innovation Hub (DIFC Innovation Hub) as well as to the Wemade Web3 Fund. Both parties will engage in mutual deal and project referrals, particularly in the Web3 industry, and potentially co-invest in promising projects. 

Under a non-binding memorandum signed today, Whampoa Digital and Wemade 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 developed will be applied and integrated with financial institutions supporting these industries to promote seamless adoption of digital assets globally. 

Wemade operates WEMIX PLAY, an established global Web3 gaming platform with over 250,000 concurrent players. It has developed a suite of blockchain solutions and has an established track record in investing in gaming studios, notably in Lionheart Studio, Shift Up and MADNGINE, the developer behind the massively successful NIGHT CROWS mobile and PC game.

Wemade is also developing the WEMIX PLAY Center, a global Web3 gaming hub at the DIFC Innovation Hub. The US$100 million Wemade Web3 Fund is targeted at promising gaming studios and blockchain projects that intend to set up an office in the WEMIX PLAY Center. DIFC Innovation Hub and WEMIX PLAY Center will provide state-of-the-art facilities and mentorship support to Wemade Web3 Fund’s investee companies.

DIFC Innovation Hub is the largest innovation community in the MENA region, and home to more than 700 growth-stage tech firms, established innovation companies, digital labs, venture capital firms, regulators, and educational entities.

Whampoa Digital is the technology investment arm of Whampoa Group, a privately-held investment company owned by several established families in Asia. It is an early investor in digital assets and Web3 ventures, working with Web2 and Web3 visionaries to propel innovation and drive mass adoption of blockchain technologies. It is also setting up Singapore Gulf Bank, a digital bank in Bahrain that will provide digital banking services to global investors, innovators and institutions participating in the digital economy.

Whampoa Group Senior Partner Aureole Foong said, “We are excited to be joining forces with Wemade, a powerhouse in the gaming space. 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.”

“Through our partnership with Whampoa Digital, a leading investment firm in Singapore, we strive to share valuable insights related to blockchain technology, each party bringing their unique expertise to the partnership,” said Wemade CEO, Henry Chang. “We are committed to consistently expanding collaborations with outstanding global partners.”

The partnership demonstrates Wemade’s growing capabilities as an operational and technical provider of blockchain solutions beyond gaming and aligns with Wemade’s steadfast commitment to expanding its reach in the Middle East and North Africa region.

About WEMADE

A renowned industry leader and innovator in game development, Wemade is now leading a once-in-a-generation shift as the global games industry pivots to blockchain technology. Through subsidiary WEMIX, Wemade is building an experience-based, platform-driven, and service-oriented mega-ecosystem to offer a wide spectrum of intuitive, convenient, and easy-to- use Web3 services. This includes WEMIX PLAY, the world’s biggest blockchain gaming platform which can transform games of every genre 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 headquartered in Singapore. It was founded by several Asian families dedicated to fostering enterprise and innovation. The founding families are also owners of some of Asia’s largest and most established businesses, in commodities, banking, insurance and real estate, and have also invested in many hypergrowth companies in sectors such as automation, new energy, fintech, and emerging areas such as Web3, blockchain and digital assets.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

More articles
Gregory Pudovsky
Gregory Pudovsky

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Multipool Launches LBP on Fjord Foundry Raising $200k in 24 Hours
Sponsored Stories and Reviews
Multipool Launches LBP on Fjord Foundry Raising $200k in 24 Hours
May 22, 2024
PrimeXBT to democratise financial markets with total revamp and upgraded product offering
Sponsored Stories and Reviews
PrimeXBT to democratise financial markets with total revamp and upgraded product offering
May 22, 2024
Multipool Partners with BSO Enabling Ultra-fast Low Latency Trading
Sponsored Stories and Reviews
Multipool Partners with BSO Enabling Ultra-fast Low Latency Trading
May 21, 2024
Sui Sets New Standard for Blockchain Transaction Speeds
Sponsored Stories and Reviews
Sui Sets New Standard for Blockchain Transaction Speeds
May 21, 2024