South Korea's Wemade Ventures into Blockchain with $100 Million Investment Fund

Wemade, the South Korean game publisher, revealed on Friday the launch of a $100 million Web3 fund in collaboration with Singapore-based investment firm Whampoa Digital. The joint effort birthed the Wemade Web3 Fund, aimed at investing in blockchain gaming projects, particularly in the Middle East.

The fund's establishment aligns with the shared objective of expediting blockchain adoption, as highlighted in the announcement. Moreover, Wemade is actively constructing the Wemix Play Center, a dedicated commercial space in Dubai's DIFC Innovation Hub, focused on blockchain gaming.

As part of the initiative, blockchain gaming entities receiving grants from the fund are anticipated to establish their offices within the Wemix Play Center. This move aims to encourage cross-collaboration and mentorship among these projects, fostering a collaborative ecosystem.

Aureole Foong, the Senior Partner of Whampoa Group, expressed enthusiasm about the partnership's potential, emphasizing its role in venturing into new realms within the digital asset industry beyond their existing sectors. Foong also highlighted the aim to drive innovation in the rapidly expanding Web3 landscape, particularly in the Middle East, known as one of the fastest-growing regions in this domain.