WEMADE Made a Strategic Investment in Shardeum, an Indian blockchain project

SINGAPORE, Oct. 20, 2022 /PRNewswire/ -- Wemade announced a strategic investment in Shardeum, an Indian blockchain project. The company aims to seek synergistic effect through working with Shardeum for WEMIX3.0, its blockchain mainnet. Business expansion to India is also planned.

Shardeum is the world's first EVM(Ethereum Virtual Machine)-based sharded blockchain mainnet. With dynamic state sharding technology, the blockchain can linearly scale and increase TPS(transaction per second) with every node added to the network, and the network can maintain low gas fees indefinitely.

The project, which is also India's first mainnet, is led by Nischal Shetty, founder of India's biggest crypto exchange WazirX and Omar Syed, a veteran blockchain architect.

"Shardeum's excellent technology and the potentials of the project and Indian market was taken into consideration," said Henry Chang, CEO of Wemade. "We will continue to seek partnerships with companies and projects that can strengthen the WEMIX3.0 ecosystem."

Jane Street and The Spartan Group joined this seed round along with Wemade and others.