Seoul, Friday, December 22, 2023- South Korean gaming giant Wemade and Singapore-based technology investor Whampoa Digital announced in December last week that they had joined forces in a strategic partnership aimed at boosting the Web3 landscape in the Middle East. 1This collaboration will see the establishment of a $100 million Web3 fund by Wemade, specifically dedicated to supporting promising ventures within the WEMIX PLAY Center located in the Dubai International Financial Centre (DIFC) Innovation Hub.
Beyond the financial injection, Whampoa Digital will become an integral part of the Web3 ecosystem surrounding the WEMIX PLAY Center, playing a key role in both the newly formed fund and the Dubai hub itself.
This partnership is expected to extend to mutual collaboration on deals and project referrals within the Web3 space, with the potential for co-investments in particularly promising ventures.
The Wemade Web3 Fund will be headquartered in the heart of the bustling DIFC Innovation Hub, a regional tech hub teeming with over 700 growth-stage firms and innovation players.
This prime location positions the fund for seamless integration within the Middle East’s burgeoning Web3 scene.
It is well known in circles that both parties bring valuable expertise and experience to the table. Wemade boasts a leading position in Web3 gaming through its successful WEMIX PLAY platform and a proven track record in gaming investments.
Whampoa Digital, as the technology investment arm of the established Whampoa Group, contributes its deep understanding of digital assets and Web3 ventures, with a focus on driving mass adoption of blockchain technologies.
