Wemade to develop blockchain game with Saudi Arabian studio

Wemade to develop blockchain game with Saudi Arabian studio

In a recent announcement, WeMade, the South Korean game developer shifting to blockchain, NFTs, and DeFi has signed an onboarding agreement with Saudi Arabia’s Rogue Sentinel Studios for the blockchain game Astra Nova.

Astra Nova, slated for release in the latter half of 2025, represents cutting-edge action RPG development, powered by Unreal Engine 5. The game promises to significantly elevate the player experience by integrating blockchain and AI technologies within an expansive and immersive universe.

In Astra Nova, players will embark on an extraordinary journey on the space planet “Astra Nova,” humanity’s final bastion, engaging with its wild flora and fauna. The game is designed to offer a wide variety of content, including action-based combat with advanced technology, magic, and weaponry.

As per the announcement, Wemade is committed to broadening its WEMIX PLAY lineup and diversifying its genre offerings through ongoing partnerships with leading development studios worldwide.

This doesn’t come as a surprise, given that in February of this year WEMADE, signed a Memorandum of Understanding (MOU) with KSA based Nine66, a Savvy Games Group (“Savvy”) company, to drive the development of the gaming industry in Saudi Arabia.

In addition WEMIX and Hub71, Abu Dhabi’s global tech ecosystem signed a memorandum of understanding (MoU) to create and accelerate growth opportunities for their respective portfolio companies and Web3 startups.

Last year WEMIX expanded into the MENA region with an office in UAE.

The gaming industry in the Middle East and North Africa (MENA) has been steadily growing over the past few years. It is a dynamic industry that includes the production and sale of video games, gaming hardware, and software. Additionally, it encompasses platforms such as mobile devices, consoles, and PCs.

By 2027, it is projected that MENA’s digital gaming revenue will almost double from its 2021 value of approximately $3 bn.

Saudi Arabia, the UAE, and Egypt are the top three gaming markets in MENA. These markets have a high number of gamers, a strong market presence, and significant growth potential.

Animoca brands makes strategic investment in UAE Blockchain gaming startup

Animoca brands makes strategic investment in UAE Blockchain gaming startup

Animoca brands, which offers digital property rights for games and open metaverse, continues to invest in gaming and Web3 start-ups in the MENA region. Its latest investment is with UAE based Param Labs, a blockchain enabled gaming infrastructure provider.

As per the press release, the investment will strengthen the two companies’ existing partnership to accelerate the development of Param Labs’ scalable blockchain enabled Web3 infrastructure and expand its ecosystem, which boasts over 50 IP partnerships with notable brands such as GameStop, Pudgy Penguins, Mocaverse, and more.

Param Labs is focused on developing video games and infrastructure to power the next generation of gaming. Kiraverse, the flagship Web3 multiplayer third-person shooter game developed by Param Labs, offers players the opportunity to compete, earn, and trade digital assets like characters and skins. Kiraverse is designed to promote digital ownership and user-generated value, leveraging Param Labs’ innovative technology.

Param Labs is also actively constructing technology to equip developers with the necessary tools they need to effortlessly elevate their users’ blockchain based experiences, ensuring seamless interaction for gamers across the globe. Additionally, its Pixel-to-Poly service enables users to transform 2D images into 3D playable in-game characters, compatible with Kiraverse as well as popular Web2 titles including Grand Theft Auto V and Fortnite.

With a strong focus on esports, Param Labs has also partnered with major esports organisations worldwide to promote Web3 ecosystem growth around gaming, and is gearing up for a token launch that will serve as an ecosystem token for its upcoming games and infrastructure.

Yat Siu, co-founder and executive chairman of Animoca Brands, said, “We’re excited to invest in and partner with Param Labs to drive Web3 development in MENA and advance the cause of digital property rights in the open metaverse. Both Animoca Brands and Param Labs share a vision to redefine the gaming landscape and the open metaverse by leveraging the power of shared network effects.”

Anthony Anderson, founder and CEO of Param Labs and Kiraverse, emphasized the importance of the strategic investment and partnership with Animoca Brands: “This investment marks a significant milestone for Param Labs’ ecosystem development and the broader Web3 gaming landscape. Our vision is aligned with that of Animoca Brands and we’re thrilled to collaborate on the creation of valuable products at the forefront of gaming’s innovative shift to digital ownership. With our new funding, we’ll continue to invest in building out and scaling our current products while also advancing our ecosystem initiatives and fostering community involvement.”

This announcement comes after Animoca Brands just signed an agreement with KACST in Saudi Arabia to grow Web3 development in the country.

Dubai’s DMCC now home to 600 crypto blockchain companies

Dubai’s DMCC now home to 600 crypto blockchain companies

DMCC announced the number of new companies that enrolled in 2023, with 123 new crypto and blockchain entities registering at the DMCC crypto center, culminating in 600 companies in total. By the end of 2022 DMCC had announced that it had 500 crypto blockchain entities registered in its freezone.

In total Dubai Multi Commodities Centre (DMCC) has enrolled 2,692 new companies in 2023, taking the total number of companies in DMCC to over 24,000.

The launch of new industry ecosystems, the expanded service offerings and the physical growth of the Uptown Dubai district with the launch of Uptown Tower have driven DMCC’s 2023 growth story.

DMCC accounted for 11% of Dubai’s total FDI inflows. As per the 2023 annual report, DMCC became a hub for trading of commodities such as diamonds, and precious stones, gold, as well as a hub for high value services such as crypto, gaming and Web3.

 Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “For DMCC, 2023 showcased its ability to sustain its record performance whilst undertaking crucial infrastructure expansions. Attracting 2,692 new companies is testament to our efforts to continuously enhance our value proposition year after year, reinforcing the role we and our members play in driving trade and investment, contributing up to 11% of all FDI inflows to Dubai. With the opening of Uptown Tower and the wider development of Uptown Dubai, our business district is stronger now than it has ever been, and we have set ourselves up for accelerated growth, a crucial factor as we accommodate new waves of investment to Dubai.”

 The DMCC Crypto Centre welcomed industry leaders such as Bybit, Solana and TDeFi into the fold alongside an additional 129 companies. The Centre is now home to 600 firms, further reinforcing its position as the largest concentration of crypto, blockchain and Web3 companies in the region.

Two core growth sectors for DMCC show promising opportunities in 2024 are the Gaming Centre and the impending launch of a new AI Centre. Over the past year, DMCC’s Gaming Centre doubled in size to reach almost 100 members at the year end.

UAE game studio launches 24 products for its blockchain strategy

UAE game studio launches 24 products for its blockchain strategy

UAE based Lucidia, a game studio and publisher has announced Web3 gaming strategy integrating blockchain technology. As per the announcement Lucidia is set to redefine the gaming experience with its suite of 24 ground-breaking products. The company’s strategy focuses on blending traditional gaming with the transformative potential of blockchain, catering to the vibrant and rapidly expanding gaming community in the Middle East.

Feras Alnimer, CFO and Co-Founder of Lucidia, shared his vision for the company, stating, “We are crafting ecosystems that redefine the essence of gaming through the power of Web3. The Middle East, with its vibrant youth and untapped potential, is not just a market for us—it’s the future. So we’re inviting our community to help us shape this future. Our suite of 24 ground-breaking products is only a beginning. Together, we’re not just playing games; we’re setting new paradigms.”

Lucidia’s innovative approach is not only about enhancing game mechanics with blockchain technology but also about creating a new revenue model and community engagement strategies that position the company at the forefront of the Web3 gaming sector.

The global gaming market has surpassed $200 billion by 2023, with the Middle East experiencing the fastest growth. This rapid expansion highlights the vast potential and opportunities within the region for innovative gaming solutions like those offered by Lucidia.

“Our focus on the Middle Eastern market involves developing localized content and tailored gaming experiences to resonate with the cultural nuances and preferences of the region. This strategic direction is expected to enable Lucidia to capture a significant share of the market, leveraging the region’s untapped potential to foster a vibrant gaming community,” Alnimer said.

The company is committed to building a self-sustaining community of gamers, developers, and investors, creating an ecosystem where innovation, engagement, and growth can thrive.

Lucidia, based in Dubai, UAE specializes in merging classic gaming experiences with the innovative capabilities of blockchain technology.

This announcement comes as more investments are being made in the gaming sector in MENA and UAE. For example, GameCentric a new Web3 enabled MENA gaming platform which seeks to incorporate crypto and digital assets, raised $1.5 Million in capital from UAE Angel Investor, Bilal Merchant. The platform is currently live.

UAE Web3 blockchain gaming project, Exverse raises $3 million

UAE Web3 blockchain gaming project, Exverse raises $3 million

Exverse, a UAE Web3 blockchain gaming project, incubated by launchpads that include KuCoin Labs, Seedify, Epic Games, and ChainGPT, has raised $3 million in a private round led by Cogitent Ventures, Cointelligence, and Moonrock Capital.

It also had additional support from industry leaders such as KuCoin Labs, Epic Games, Seedify, and ChainGPT. The funding will power preparations for the game’s testnet and token launch, forge additional strategic partnerships, and expand its marketing efforts in the APAC region.

Before closing its private seed round, Exverse forged strategic partnerships with a wide range of entities to ensure the startup has a full arsenal of tools to develop the strongest possible game, alongside a robust business model and marketing strategy. Seedify and KuCoin Labs provided guidance and mentorship via their incubation programs—with ChainGPT preparing Exverse for its upcoming launch —and Maven Capital advising the startup on its go-to-market strategy.

Spanning three planets, the Exverse ecosystem offers gamers an immersive experience and advanced gameplay by focusing heavily on competitive and intuitive mechanics, a fluid physics engine, and dynamic visuals. Exverse’s three planets—Social, Quest, and Battle—cater to different playing styles while remaining interconnected within a single timeline, where users compete in cycles known as seasons, lasting eight weeks.

The blockchain game is designed to foster community by allowing players to engage in social events and even develop user-generated worlds within an ever-expanding universe.

Built using Epic’s Unreal Engine 5, Exverse utilizes blockchain technology to strike the balance between enjoyable, realistic, and immersive real-time gameplay. The game prioritizes skill over pay-2-win mechanics, enabling players to earn rewards by staking tokens before a season’s kickoff, with top performers receiving a share of profits from in-game NFTs such as cosmetics and skins.

Ahead of its upcoming alpha launch with a 5,000-player tournament set for March, Exverse has already surpassed 65,000 verified signups. The deathmatch-style tournament occurring on the game’s Battle Planet precedes Exverse’s token launch and gives early wait listers an exclusive chance to test their skills.

“We see ourselves as pioneers in the gaming industry because we’ve built an AAA-quality, classic first-person shooter with Web3 elements,” says Fei Ooi Hoong, CEO of Exverse. “Our hybrid approach is the result of our understanding that for NFT or blockchain games to succeed post-bull market, they need to appeal to gamers in the same way as beloved titles like ‘Call of Duty,’ ‘Halo,’ and ‘Counter-Strike’ have. We decided to focus our efforts first on developing a fun and visually captivating game, and only then strategically working in the token mechanics in a way that rewards skill—all before conducting an IDO.”

“We are excited to be invested in such a promising gaming project like that of Exverse, who gracefully blends the best of Web2 with Web3,” says Sayantan Mitra, partner at Cogitent Ventures. “They boast a strong and visionary leadership along with a talented group of developers, and we are excited to see their project advance over the next several months.”

“It’s been a great pleasure working closely with the Exverse team during their incubation period with us,” says Esport Manager at Seedify. “They had a great vision, talented leadership, and an impressive team of developers that allowed them to get the most out of our incubator. Seedify continues working closely with Exverse to prepare the team for their testnet launch as well as providing a wide array of support, guidance, and infrastructure.”

Sastanaqqam a blockchain Web3 company moves headquarters to UAE

Sastanaqqam a blockchain Web3 company moves headquarters to UAE

Blockchain and Web3 Company, Sastanaqqam, has relocated its headquarters to Dubai UAE. It will be present at the One Central district in Dubai at the end of March.

One Central has become a pivotal hub for cryptocurrency enterprises, known for its state-of-the-art facility and a business-friendly regulatory environment. This district houses notable crypto entities like Bybit’s global headquarters and the, a hub for cryptographic and blockchain technologies.

Sastanaqqam’s relocation to One Central reflects its alignment with Dubai’s vision as a leader in technological advancement and financial innovation. “Our move to One Central isn’t just a relocation; it’s a strategic decision to integrate with a community at the forefront of blockchain and digital currencies,” said Azzi Mohamed Mbarek, COO of Sastanaqqam.

The decision to establish a base in One Central, alongside pioneering crypto platforms such as Deribit, underscores Sastanaqqam’s ambion to be at the forefront of the crypto revolution. Dubai’s One Central offers an environment ripe for collaboration, innovation, and growth, making it an ideal location for Sastanaqqam’s expansion.

In anticipation of this significant move, Sastanaqqam is ramping up its recruitment efforts, aiming to attract top talent in blockchain and fintech. The new office in One Central will be equipped with the latest technology and designed to foster innovation and collaboration.

Local businesses and the community in One Central are excited about Sastanaqqam’s arrival. “Sastanaqqam’s addion to One Central is not just a boost to our local economy; it also reinforces our status as a leading tech and financial hub,” shared One central business development team.

Established in 2021, Sastanaqqam is a company specializing in blockchain and Web 3.0 technologies, with a focus on integrating art, gaming, and DeFi to create a comprehensive digital ecosystem.

Saudi STC backs Blockchain AlephZero hackathon

Saudi STC backs Blockchain AlephZero hackathon

AlephZero, a layer 1 blockchain that allows the deployment of Web3 applications quickly, securely and at low cost has collaborated with Saudi Telecom Company, STC global Venture capitalist as well as T-Mobile, for its upcoming Hackathon called CTRL+Hack+ZK. The Hackathon will start on January 10th 2024 until January 31st 2024.

The winners of the Hackathon will receive up to $75k bounties and up to $500k EFP funding.

CTRL + HACK + ZK is the premier hacking event for Aleph Zero, the highly scalable blockchain platform with blazing speed and state-of-the-art privacy engine. The Hackathon will include 3-week journey of workshops, educational programming, and hands-on mentorship with the core dev team and ecosystem partners.

There are various tracks one of them is the Telco track which will challenge participants to redefine the future of telecommunications using Aleph Zero’s cutting-edge features by optimizing infrastructure or even creating new services.

Another track is the DiD track which explores identity-related solutions such as AZERO.ID, leveraging Aleph Zero’s native privacy stack to enable secure and decentralized identity management. Also included in the Hackathon is the  Tooling track which focuses on developing applications, node providers, libraries, and tools that enhance the developer experience and ecosystem around Aleph Zero, and finally the gaming track for building gaming solutions such as in-game items as NFTs smart contract templates for payouts and collectibles, or indexers for gaming data, the possibilities are endless. 

The Final track is DeFi where developers are encouraged to leverage its robust infrastructure and create unique financial solutions that help expand the ecosystem’s functionality.

Saudi Arabia has shown interest in developing CBDC (Central Bank Digital Currencies) as well as utilization of blockchain for tokenization projects. The collaboration of Saudi’s telecom conglomerate STC is another reflection of the Kingdom’s interest in Blockchain and its solutions.

The Saudi Islamic Development Bank Institute (IsDBI) is working to patent a Blockchain system for smart stabilization for CBDCs and digital assets after receiving a positive evaluation for its Blockchain smart stabilization system patent

UAE Mada Capital partners for growth fund for metaverse gaming platform

UAE Mada Capital partners for growth fund for metaverse gaming platform

UAE based MADA Capital, a private investment fund has partnered with Web3 metaverse gaming platform Creta in its ecosystem growth fund.

As per the news release, Mada Capital actively participated in the fund at an early stage, being deeply impressed by Creta’s vision and technological prowess, which outshine competitors.

Creta, alongside Mada Capital, aim to  collaboratively lead the advancement of the web3 and gaming metaverse industries in the global market. Together, they aim to grow the fund, discover and support outstanding producers and content, and expand Creta’s ecosystem by fostering cooperation and nurturing technology.

The ultimate goal of CRETA is to form a coalition of world-class developers, creators, and producers, where numerous creators join and contribute their high-level creations. The company is building a new comprehensive gaming entertainment platform that will lead the next generation game/metaverse content industry.

The Creta Growth Fund aims to accomplish this by expanding the Creta metaverse in several ways, including the creation of content and a pool of talented developers. In doing so, it will bring a large number of talented Web3 developers and content into the Creta ecosystem. Numerous game developers, creators, and producers that the Creta Growth Fund will identify and collaborate with will not only increase the content lineup but will also allow Creta to go beyond the expectations of numerous game fans and creators early on. This will create synergies in PR, marketing, and community outreach that far exceed the size of the fund. As a result, as the ecosystem grows, the number of creators will grow, and their content output will further circulate and expand the Creta ecosystem.

Following the recent agreement, MADA Capital has committed to actively participate in the fund raising process for the Creta Growth Fund to include multi-billion dollar investments.

With big names like gaming legend Yoshiki Okamoto and genius producer Thomas Vu on board and with many more influential developers and producers joining, the launch of the Growth Fund is expected to accelerate the rapid expansion of Creta’s content and developer partnerships. The fund will also accelerate the acquisition of AAA titles, and catalyze the rapid growth of the ultimate Creta ecosystem, which is an ever-expanding, ever-circulating collection of worlds, multiverses, games, creator tools, and community SuperClub.

Creta is a global Web3 metaverse gaming platform headquartered in the UAE with offices in Japan and Armenia. The development of the Creta platform is led by Diverse, a Korean metaverse game developer specializing in high-performance game engines and excellent graphics technology.

The Web3-based metaverse gaming platform uses Locus Chain, public blockchain, and unlike traditional metaverses, it implements a super-sized multiverse where numerous metaverses can be combined and expanded with photo-realistic visual quality. In particular, Creta can significantly reduce infrastructure costs using the high-performance blockchain mainnet Locus Chain to replace most of the role of servers in online games.

Salah Alwaheb, Chairman of MADA Capital, said: “We are delighted to partner with Creta as it grows to become the dominant player in the next generation web3 gaming/metaverse platform market. The Creta Growth Fund will be backed by MADA Capital’s large funds, as well as royal families and high net-worth individuals from the Middle East.”

WeMade brings on Whampoa digital for its $100 million UAE Web3 Fund

WeMade brings on Whampoa digital for its $100 million UAE Web3 Fund

South Korean, Wemade brings onboard Whampoa Digital as an ecosystem partner for its $100 million Web3 Fund in UAE. Wemade will also partner with Whampoa Digital for its WEMIX Play center in Dubai International Financial Center Innovation Hub ( DIFC Innovation Hub).

Both parties will engage in mutual deal and project referrals, particularly in the Web3 industry, and potentially co-invest in promising projects. In addition, 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.

Wemade operates WEMIX PLAY, an established global Web3 gaming platform with over 250,000 concurrent players. It has developed a suite of blockchain solutions and has an established track record in investing in gaming studios, notably in Lionheart Studio, Shift Up and MADNGINE, the developer behind the massively successful NIGHT CROWS mobile and PC game.

Wemade is also developing the WEMIX PLAY Center, a global Web3 gaming hub at the DIFC Innovation Hub. The US$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.

Whampoa Digital is the technology investment arm of Whampoa Group, a privately-held investment company owned by several established families in Asia. It is an early investor in digital assets and Web3 ventures, working with Web2 and Web3 visionaries to propel innovation and drive mass adoption of blockchain technologies.

Whampoa Digital was also approved in Bahrain to set up a digital Bank and has committed to investing $50 million in the country.

Whampoa Group Senior Partner Aureole Foong said,“We are excited to be joining forces with Wemade, a powerhouse in the gaming space. This partnership will allow us to pioneer new horizons in the digital asset industry beyond our already established sectors, as well as foster innovation in the Middle East, one of the world’s fastest-growing regions in the Web3 space.”

“Through our partnership with Whampoa Digital, a leading investment firm in Singapore, we strive to share valuable insights related to blockchain technology, each party bringing their unique expertise to the partnership,” said Wemade CEO, Henry Chang. “We are committed to consistently expanding collaborations with outstanding global partners.”

South Korean WeMade game developer and DIFC Innovation hub to build WEMIX Play Web3 community

South Korean WeMade game developer and DIFC Innovation hub to build WEMIX Play Web3 community

South Korean game developer, Wemade, and UAE DIFC (Dubai International Financial Zone), Innovation Hub partner to build WEMIX Play web3 gaming community to support Dubai Program for Gaming 2033.

The Wemade-DIFC Innovation Hub collaboration plans to focus on core initiatives, including establishing WEMIX PLAY Center within the DIFC Innovation Hub for WEMIX PLAY. Wemade and DIFC Innovation hub will onboard game companies and facilitate the raising of $100 million Web3 gaming fund to  support the developers, studios and entrepreneurs.

Dubai is a leading business hub with advanced financial services and policies for fostering economic growth, investor attraction, blockchain, and cryptocurrency. Aided by DIFC Innovation Hub, Wemade aims to maintain close communication with UAE crypto-regulating bodies for making the Middle East business strategy as per up-to-date trends.

Wemade is also working on an application for Crypto Token Recognition from the Dubai Financial Services Authority, the DIFC’s Financial Regulator. Tokens conferred with this status will allow financial institutions in the DIFC to carry out transactions with them, to be used by over 4,900 companies in the special economic zone.