OKX collaborates with Polygon Labs on layer-2 network launch

Japanese Firm Exec Underscores User Experience and Collaboration in Web3Hiroshi Tsuruoka, the Chief Operating Officer (COO) of UNCHAIN, a Japanese company specializing in Web3 entertainment services, recently underscored the significance of unique experiences and collaboration in the Web3 space. He shared these insights during his conversation with Webmaster Forum, a platform offered by Japanese web content provider Impress Corporation.UNCHAIN, Tsuruoka’s employer, aims to assist companies in entering the Web3 sphere and developing entertainment services that offer users a secure and enjoyable experience. The company provides comprehensive support, including planning, development, and marketing, tailored specifically for the Web3 environment.Photo by Shubham’s Web3 on UnsplashImportance of content qualityDuring the interview, Tsuruoka said that Web3 seems to have lost some of its previous popularity in Japan. Initially, the market experienced rapid growth driven by highly speculative products like NFT artworks and Play to Earn (P2E) games, which attracted participation from many Japanese companies. However, the subsequent downturn of global projects prompted the Japanese blockchain industry to reassess its strategy, recognizing the paramount importance of content quality.Meaningful experiencesAccording to Tsuruoka, the appeal of blockchain games extends beyond their profit potential, deriving more from the unique, enjoyable experiences they offer. He believes that gamers find it meaningful when they play a pivotal role in expanding the gaming market and giving rise to new gaming cultures. Moreover, the incorporation of NFTs in games allows users to retain ownership of their in-game items even if a company discontinues its service, fostering a deeper emotional connection between users and their virtual possessions.This emerging trend fosters a culture of creation, where users, operators, and creators come together in a collaborative space to generate secondary creations and new services. Users delight in actively contributing to this ecosystem and helping it grow.Tsuruoka recognizes that decentralization presents both advantages and challenges. On one hand, it offers individuals greater freedom. However, it also places the full responsibility of data management on the users themselves, in contrast to a centralized environment where the game provider handles data management.Tsuruoka advises against placing excessive emphasis on speculation and financial gain when discussing Web3. Instead, he encourages companies to prioritize delivering meaningful and valuable experiences to users. Tsuruoka believes that emotional experiences, such as owning a distinctive avatar through digital assets, hold tremendous potential in the Web3 realm.Web2 success firstHe asserts that no Web3 project can guarantee success without proving its worth in the Web2 space. Services that proved valuable in Web2 could experience significant growth when combined with Web3 elements.Strong relationshipsTsuruoka highlights the importance of establishing strong relationships between companies and users in the Web3 environment. While platforms like Discord can facilitate these relationships, it is crucial to strategically design user engagement, motivation, and enjoyment before launching a service. Effective community management in the Web3 space requires deep user engagement, which entails ongoing and intensive communication between operators and users.Tsuruoka emphasized the need to heed user feedback. Regardless of the service type, incorporating user opinions and collaborating with them can result in significant community and project growth, with corresponding increases in asset values. He added that this is not limited to the Web3 domain.

FactBlock, a Seoul-based Web3 ecosystem builder and consulting firm, has become the newest member of the WEMIX3.0 blockchain’s 40 WONDERS, or Node Council Partners (NCP), according to an official announcement on Friday (KST). Photo by Growtika on UnsplashShaping the WEMIX3.0 ecosystemThe 40 WONDERS make up a governance council that represents the interests of the WEMIX community by participating in on-chain voting processes for improving or changing WEMIX3.0’s protocol. They are also responsible for validating transactions and operating nodes on the mainnet to boost and maintain its integrity and security. In particular, each member gets to choose their own WONDER number – FactBlock has joined as WONDER 13, shortly after blockchain security audit firm Verichains joined as WONDER 12. FactBlock was able to join by tapping into its resources from secured investments and committing to expanding the ever-growing WEMIX ecosystem and promoting community activity. FactBlock’s industry-oriented missionThe firm is dedicated to ameliorating information asymmetry within the Web3 industry, serving as a gateway for overseas blockchain projects looking to enter the South Korean market and local firms preparing to go international. The firm’s upcoming projects for this year include the launch of Fablo, an educational platform for collective blockchain learning centered around community engagement.  FactBlock has also hosted Korea Blockchain Week (KBW), the largest blockchain conference in the country and in Asia, since 2018. Last year’s event was held at the Shilla Hotel in Seoul in September, hosting a number of industry experts who discussed trends and outlooks for the Web3 industry.

Busan’s Digital Asset Exchange to Transform the City into a Global Financial HubBusan, the southern port city in South Korea, has unveiled an extensive plan for the creation of the Busan Digital Asset Exchange. The primary aim of this initiative is to establish a blockchain-based exchange that facilitates the trading of a wide range of valuable assets, including raw materials, precious metals, intellectual property rights, and carbon emission rights, all through tokenization.Photo by Joseph Pradipta on UnsplashDecentralized governance modelThis planned exchange will operate under a decentralized governance model, where separate entities will handle depository and settlement, listing assessment, and market monitoring. Such a governance framework is designed to ensure checks and balances and enhance investor protection. Busan is committed to providing both administrative and financial support for the establishment of these entities.The roadmap for this plan was presented yesterday at Busan City Hall by Mayor Park Heong-joon and the Busan Digital Asset Exchange Establishment Promotion Committee.The committee was introduced by the city in December of last year, and since then, it has been crafting specific plans. This committee is led by former lawmaker Kim Sang-min, who is recognized as an expert in blockchain policy.Operator selection processThe legal operator for the exchange is slated to be launched within this year. Starting from the middle of the upcoming month, the city of Busan will initiate an application-based process to find an exchange operator and intends to finalize the selection by November.The operator will be entirely funded through private contributions. Companies possessing blockchain technology and the capability to construct an exchange system will form a consortium to partake in the project and operate the exchange. The city of Busan will support the founding and operation of the exchange in accordance with the ordinance.Diverse asset tokenizationShould everything proceed as planned, the exchange is set to commence operations next year. It will tokenize and support the trading of items that pass through the Port of Busan, including gold, silver, copper, crude oil, and ammonia. Additionally, a marketplace will be developed to trade intellectual property (IP) rights, such as films, and carbon emission rights. Particularly, there are plans to broaden the spectrum of tradable items to include virtual assets and security tokens.In contrast to traditional stock exchanges that utilize home trading systems (HTS), the upcoming digital asset exchange will run on blockchain, which is immune to hacking and forgery. Users can trade their assets directly without intermediaries and benefit from reduced transaction costs.Highlighting blockchain as a pivotal technology in the era of the Fourth Industrial Revolution, Kim Sang-min, the chair of the committee, expressed that Busan will develop its digital asset exchange to set a global standard in the field.Mayor Park resonated with this perspective, emphasizing that in this age of digital transformation, Busan will leverage this opportunity to position itself as a global financial hub.