- Fast track to set up operations for startup in Abu Dhabi as a regional hub
- Offers dedicated support for MENA GameFi and DeFi startups
ABU DHABI – Leading 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 the 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 programs, initiatives and a broad 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 various areas of blockchain technology, including GameFi and DeFi.
“Developing strong partnerships with key stakeholders such as Hub71 is an important part of our commitment to expanding 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 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 evolve beyond 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 partnerships and collaborations and by beating us together 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 Program, 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, 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 largest 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 exclusively investing in blockchain technology and digital assets managing over USD 1 billion in client assets since 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 unlocking the disruptive potential of the Web3 and the growth of digital assets. Hub71+ Digital Assets is based at Hub71 in the Abu Dhabi Global Market (ADGM) where Web3 startups can operate in a progressive regulatory environment, offering world-class blockchain and virtual asset infrastructure
“This marks another milestone in WEMIX’s Middle East expansion following the opening of its first office in the region, as we capitalize on the vibrant energy and positive industry support in one of the world’s fastest growing regions for blockchain technology.” Kim added.
WEMIX is a blockchain gaming platform developed by WEMIX Pte. Ltd, which offers services that include a cryptocurrency wallet, decentralized exchange, NFT marketplace, WEMIX token staking program and the gaming gateway. WEMIX Pte. Ltd. is a subsidiary of Wemade, the developer and owner of “The Legend of Mir” IP, a highly successful game with over 500 million users. For more information, visit www.WEMIXnetwork.com
Hub71 is Abu Dhabi’s global technology ecosystem that enables founders to build globally lasting homegrown technology 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, driven by the future – thought regulation.
Supported 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 investments, commercial activities and incentives from the public and private sectors.
Through Hub71’s entrepreneurial infrastructure, value-added 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, find new ways to build globally lasting technology companies and sustain the nation’s continuous economic development.
For more information visit www.hub71.com and follow us @Hub71AD #Hub71.