Wemade announced on Friday that it had created a $100 million Web3 fund with Singapore investment firm Whampoa Digital.
The two companies established the Wemade Web3 Fund to invest in blockchain game projects mainly in the Middle East. The fund was established with the goal of accelerating blockchain adoption, according to the announcement.
Wemade is also building Wemix Play Center, a commercial space focused on blockchain games, at the DIFC Innovation Hub in Dubai. According to the notice, blockchain game companies and projects supported by the fund are expected to set up office space at the Wemix Play Center with the goal of cross-collaboration and mentoring.
“This partnership will enable us to break new ground 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 in the Web3 space. said Whampoa Group Senior Partner. Aureole Foong in a statement.
Wemade CEO Henry Chang said in a statement: “Through our partnership with Whampoa Digital, a leading investment firm in Singapore, we are committed to sharing valuable insights related to blockchain technology, and are committed to helping each party. is bringing unique expertise to the partnership.”
Despite the situation in Korea Blockchain games banned, numerous domestic studios are actively developing blockchain games for overseas export. A Wemade official said this previously. decryption At the 2023 Game Developers Conference, the studio said it is developing several blockchain-based adaptations of existing games, but will not release them in Korea.
The Korean government last The fight against blockchain games It has been implemented in their country since early 2021. In January 2023, the court ruled that Five Stars, a play-to-earn game, could not be released This is because NFTs have encouraged financial speculation.
Wemade’s WeMix Play platform is a site that showcases a token-forward selection of blockchain games and hosts its own game NFT marketplace. Wemade makes both PC and mobile games, but is primarily known for its free-to-play MMORPG PC game ‘The Legend of Mir’ and its two sequels.
Editor: Andrew Hayward
