Web3 Gaming in Dubai Boosted by Wemade Partnership
Who is Wemade?
Wemade is a South Korean video game development company headquartered in Seongnam, known for blockbuster titles such as The Legend of Mir and its sequel, The Legend of Mir 3. The Legend of Mir series has amassed over 120 million users across Asia, generating over $65 million in monthly revenue at its peak. Even after 9 years of operation, Legend of Mir 2 continues to generate more than $20 million monthly revenue in China alone.
Wemade Partners with Dubai Chambers to Develop Web3 Games
Dubai Chambers is a non-profit organization aimed at enhancing the blockchain gaming ecosystem in Dubai and the UAE market. The collaboration agreement between Wemade and Dubai Chambers was formalized through Henry Chang, CEO of Wemade, and Mohammad Ali Rashed Lootah, CEO of Dubai Chambers.
Dubai Chambers is recognized as a community-focused organization safeguarding Dubai's business interests and plays a pivotal role in connecting businesses with the government, nurturing a conducive environment for business development. It comprises three distinct departments:
- Commercial Affairs Department
- International Relations Department
- Digital Economy Department
Wemade stated that this collaboration aims to promote the blockchain gaming ecosystem in rapidly developing digital economies such as Dubai and the UAE.
In recent years, Dubai has established comprehensive legal frameworks for the cryptocurrency industry, including specialized regulatory agencies for digital assets, attracting major players such as Binance.
At the beginning of November, Dubai's Crown Prince, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, officially announced the Dubai 2033 gaming initiative, a ambitious plan reflecting the Emirate's vision to establish a web3 gaming industry and aim to become one of the top 10 countries in this sector.
Dubai has projected that a robust web3 gaming industry could contribute an additional $1 billion to the GDP by 2033 and create 30,000 new jobs related to this industry.
Earlier, the Arab bloc had also engaged with Animoca Brands to discuss collaboration in developing the web3 industry, with a total investment potential amounting to $38 billion.
This partnership underscores Wemade's strategic involvement in advancing Dubai's vision for a thriving web3 gaming sector, leveraging its expertise to contribute to the region's economic growth and technological innovation.
