- Partnership to bring WEMIX’s blockchain expertise to Hub71+ Digital Assets specialist ecosystem, and leverages global network of startups and partners
- Fast-tracks setting up operations for startups in Abu Dhabi as a regional hub
- Offers dedicated support for MENA GameFi and DeFi startups
SEOUL, South Korea, June 1, 2023 /PRNewswire/ — Leading Korean blockchain developer WEMIX and Hub71, Abu Dhabi’s global tech ecosystem, have signed a memorandum of understanding (MoU) to create and accelerate growth opportunities for their respective portfolio companies and Web3 startups.
As part of the partnership, WEMIX startups will have the opportunity to join Hub71’s community of over 200 startups and gain access to its range of value-add programs and incentives. Select startups will also benefit from the ability to scale globally through Hub71’s web3 and digital assets specialist ecosystem, Hub71+ Digital Assets, to unlock access to a host of programs, initiatives, and wide network of corporate, government and investment partners in the UAE and global markets. At the same time, startups within Hub71+ Digital Assets will be able to leverage the deep technical knowledge and expertise of WEMIX and its parent, Wemade, in different areas of blockchain technology including GameFi and DeFi.
“Developing strong partnerships with key stakeholders like Hub71 is an important part of our commitment to growing the blockchain ecosystem in the MENA region,” said Shane Kim, CEO of WEMIX Pte Ltd. “We are confident that this partnership will accelerate the creation of more opportunities for blockchain startups from across the world looking to expand into the Middle East and help realize our vision of developing a global blockchain economy powered by a wide spectrum of innovative applications that evolve past traditional technology barriers to drive sustainable future innovation.”
Elodie Robin Guillerm, Head of Growth and Strategy at Hub71, said: “The addition of WEMIX to our Hub71+ Digital Assets ecosystem is testament to the growth potential there is to be seized from Abu Dhabi. Hub71 truly values partnership and collaboration and by joining forces with leading blockchain companies like WEMIX, we can work together towards developing industry leading blockchain technologies to give rise to more opportunities for Web3 startups.”
The WEMIX and Hub71 partnership will offer key advantages including:
- WEMIX will become the latest partner to join Hub71+ Digital Assets and its ecosystem of leading regional and global partners of digital asset exchanges and service providers, technology providers, venture studios, venture capital funds, and blockchain platforms
- Fast tracking of applications by WEMIX startups to join the Hub71 Incentive Program, designed to alleviate the cost and processes of setting up in Abu Dhabi
- Dedicated resources for mentorship and technical support will be provided by WEMIX to Hub71 GameFi and DeFi startups
- Facilitate access for Hub71 startups to access WEMIX’s global Web3 community
- Blockchain companies within the WEMIX ecosystem will also gain access to Hub71+ Digital Assets
Strengthening the regional and global blockchain startup ecosystem
WEMADE, the parent of WEMIX, oversees a global portfolio of strategic investments that include India-based Shardeum – the world’s first EVM (Ethereum Virtual Machine)-based sharded blockchain mainnet; Metaverse Magna (MVM), Africa’s first and biggest gaming DAO; and Kasa, a blockchain-based digital asset-backed securities (DABS) trading platform with a focus on prop-tech. Most recently, WEMADE signed a strategic MoU with Haskey Capital – a global asset manager investing exclusively in blockchain technology and digital assets which manages over US$1 billion in client assets since its inception – to jointly nurture promising Asian blockchain companies.
Hub71+ is a specialist ecosystem dedicated to advancing specific technology sectors. The first Hub71+ to launch is ‘Hub71+ Digital Assets’ – focused on unleashing the disruptive potential of Web3 and the growth of digital assets. Hub71+ Digital Assets is based at Hub71 in Abu Dhabi Global Market (ADGM) where Web3 startups can operate in a progressive regulatory environment, which offers world-class blockchain and virtual asset infrastructure.
“This marks another milestone in WEMIX’s expansion in the Middle East following the opening of its first office in the region, as we further tap into the vibrant energy and positive industry support in one of the world’s fastest growing regions for blockchain technology.” added Kim.
About WEMIX
WEMIX aims to accelerate the mass adoption of blockchain technology by 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. WEMIX is a subsidiary of WEMADE, the developer and owner of “The Legend of Mir” IP, a highly successful game series with over 500 million users. A renowned industry leader in game development with over 20 years of experience, Korea-based WEMADE is leading a once-in-a-generation shift as the gaming industry pivots to blockchain technology.
About Hub71
Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors.
Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development.
For more information visit www.hub71.com and follow us on @Hub71AD #Hub71.
SOURCE Wemade Co., Ltd
