Whampoa Digital and Wemade have entered into a strategic partnership to collaborate on a USD 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 on December 22, 2023, 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. The USD 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. 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.