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Korean blockchain developer Wemix and Hub71, Abu Dhabi’s global technology 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 access its range of value-added programs and incentives.
Selected startups will also benefit from the opportunity to scale globally through Hub71’s Web3 and digital assets specialist ecosystem, Hub71+ Digital Assets, to unlock access to a range of programmes, initiatives and a broad network of corporate, government and investment partners in UAE and global markets.
At the same time, startups within Hub71+ Digital Assets will be able to leverage the technical knowledge and expertise of Wemix and its parent, Wemade, in various areas of blockchain technology, including GameFi and DeFi.
“Developing strong partnerships with key stakeholders like Hub71 is an important part of our commitment to expanding the blockchain ecosystem in the MENA region,” said Shane Kim, CEO of Wemix.
“We are confident that this partnership will accelerate the creation of more opportunities for blockchain startups from around the world looking to expand into the Middle East and help realize our vision of developing a global blockchain economy powered by a wide range of innovative applications that are evolving previously. traditional technological 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 a testament to the growth potential to be harnessed from Abu Dhabi.
Hub71 truly values partnership and collaboration, and by joining forces with leading blockchain companies like Wemix, we can work together to develop industry-leading blockchain technologies to give rise to more opportunities for Web3 startups.”
The Wemix and Hub71 partnership will offer key benefits including:
- Wemix will be the latest partner to join Hub71+ Digital Assets and its ecosystem of leading regional and global partners for digital asset exchanges and service providers, technology providers, venture studios, venture capital funds and blockchain platforms.
- Fast-tracking applications from Wemix startups to join the Hub71 Incentive Programme, designed to reduce the costs 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, 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 largest gaming DAO; and Kasa, a blockchain-based digital asset-backed securities (DABS) trading platform with a focus on proptech.
Most recently, Wemade signed a strategic MoU with Haskey Capital – a global asset manager exclusively investing in blockchain technology and digital assets managing over $1 billion in client funds since inception – to jointly nurture promising Asian blockchain companies.