Wemade Makes Strategic Investment in US Augmented Reality Metaverse Company 'Jadu'

[Asia Economy Reporter Seungjin Lee] Wemade announced on the 26th that it has made a strategic investment in the U.S. startup 'Jadu,' which develops augmented reality (AR) metaverses.

Wemade continues to enrich the WEMIX ecosystem by forming close relationships through collaboration and investment with various blockchain companies.

Jadu plans to avatarize characters from major 3D non-fungible token (NFT) series on Ethereum within its own metaverse platform, 'Mirrorverse,' by 2023. Through this, users will be able to directly control these avatars to interact, host games, events, and build the platform.

They have already released two types of accessory NFTs that can be used within Mirrorverse, which will serve as items that avatars can directly wear.

Jadu’s founders and core team members are experts in entertainment fields such as augmented reality, virtual reality, extended reality, and production. The team includes key personnel from the Apple iPhone X global campaign and Facebook Reality Labs.

At the end of last year, Jadu received $7 million in seed round equity investment from Coinbase Ventures, LionTree, and others. In the current Series A funding, existing investor LionTree also made additional investments, led by Bain Capital, achieving successful fundraising.

Wemade plans to launch its own mainnet, WEMIX 3.0, on June 15. Along with continuously adding P&E (Play and Earn) blockchain games, it plans to introduce services such as NILE, which combines NFTs and DAOs (decentralized autonomous organizations), stablecoins, and various DeFi services.

Wemade CEO Jang Hyun-guk said, “The utility coin WEMIX will launch the mainnet WEMIX 3.0 based on the 100% fully collateralized stablecoin, WEMIX Dollar, becoming a platform equipped with games, NFTs combined with DAOs, DeFi, and more. We will invest in and build relationships with promising companies like Jadu to further expand the WEMIX ecosystem.”