XPLA joins hands with Carbonated to spearhead mobile Web3 gaming era

Web3 firm Carrieverse has entered into a strategic partnership with the South Korean division of the public decentralized network the Internet Computer, ICP.Hub Korea, to expand their respective blockchain ecosystems, according to an article published by local news outlet Newspim on Thursday (KST). The two firms plan to create content and collaborate on marketing strategies.Photo by Scott Graham on UnsplashRevolutionizing blockchainThe Internet Computer brings autonomous serverless cloud functionality to the Internet, allowing builders to bring Web3 services and enterprise systems to the public. It was launched in May 2021 after five years of development by the Swiss non-profit organization DFINITY Foundation. The network is also known for its Web2 and Web3 interoperability, scalability, sustainability and tamperproof software. In particular, it employs a reverse gas model unlike most EVM-compatible blockchains, which allows end users to view and utilize smart contracts with just a standard web browser without setting up a wallet or own token assets. ICP, the Internet Computer’s native token, is currently ranked 16th on CoinMarketCap’s price rankings by market capitalization, with a market capitalization of approximately $5.6 billion.  Navigating the Web3 sphereMeanwhile, Carrieverse’s Web3 services include a metaverse, a blockchain gaming platform called Cling and the card strategy role-playing game (RPG) Superkola Tactics, which is playable on Cling. These platforms are governed by the Carrieverse token ($CVTX), which is listed on several crypto exchanges like Bitget and BingX. The firm was also selected to join the UAE’s Dubai Multi Commodities Centre (DMCC) in November to establish a local subsidiary that will serve as a hub to expand the company’s global Web3 ecosystem. Together, the two parties are expected to pave new paths in the South Korean Web3 industry.

American publicly-listed crypto exchange platform Coinbase is understood to be in talks with Indian regulators with a view towards enabling the re-entry of the exchange into the Indian market. News of the development emerged via a TechCrunch report published on Feb. 13. The publication cited two anonymous sources familiar with the matter. According to those sources, the American crypto exchange platform is in talks with officials from India’s Financial Intelligence Unit (FIU), a government agency that collects financial data regarding offenses under India’s Prevention of Money Laundering Act. Photo by Naveed Ahmed on UnsplashRegulatory pushbackThe FIU has been a key player in pushing back against exchanges that it believed were non-compliant in participating within the Indian market over the course of the past two years. In December 2023, the government agency moved to block overseas exchange businesses that it deemed to be operating illegally within the Indian market from engaging with Indian investors. That action was taken following calls from native Indian exchanges for a level playing field. At the time, they made the case to the Indian authorities that offshore exchanges were not operating in compliance with local regulations. Show-cause notices were issued against nine platforms at that time, although Coinbase wasn’t one of them.  The company had taken the measure of disabling new user sign-ups in India in September 2023. Prior to that, Coinbase CEO Brian Armstrong had complained about “informal pressure” being exerted by the Royal Bank of India (RBI). He said that the central bank was exerting “soft pressure” behind the scenes. On this attempt to re-enter the market, a spokesman for the company made the following statement to Cointelegraph: “Coinbase is excited by the opportunities in the Indian market and intends to comply with applicable regulatory requirements, but we have nothing to announce regarding a FIU registration at this time.” Kyle Chasse, founder of Web3-focused venture capital firm MV Global, outlined on X that it was “massive news,” adding that if the company re-enters the market, “huge liquidity could flow in from this.” Local partnersA source familiar with the matter told Decrypt that Coinbase wants “to do the same thing this time, but with local partners on board and a more clear strategy, which they didn’t have last time.”  The publication suggested that Coinbase executives will visit India in March to attend meetings with FIU officials. The timing of any official service re-launch in India will depend upon the regulatory steps that need to be followed by the company and the time taken to accomplish these requirements. In a related development, last week, Coinbase’s Chief Legal Officer (CLO), Paul Grewal, joined the board of directors of the U.S.-India Business Council, part of the U.S. Chamber of Commerce. While commenting on the appointment, Grewal spoke about a number of positive developments in India that are likely factors in the company’s renewed efforts to re-enter the Indian market. He stated: “India has one of the largest and fastest-growing web3 ecosystems in the world, with a booming developer community, pioneering startups, and bold institutional adoption. Since 2018, its share of global web3 developers has quadrupled to 12%, the highest growth among emerging markets.”

When Samsung Securities surveyed its high-net-worth clients about which investment assets they believed would be most effective for wealth growth in the future, only a small fraction, 1.9%, pointed to virtual assets, as reported by South Korean news outlet Newsis. The majority favored domestic and foreign stocks, which garnered a significant 45.4% of the vote. Following this, domestic and foreign bonds were chosen by 18.1% of respondents, and real assets like real estate and gold were also considered favorable, with 16.8% backing these options.Photo by Lukas on PexelsInvestment preferences of high-net-worth clientsThe survey conducted by Samsung Securities involved a select group of 368 participants, each with assets totaling KRW 3 billion ($2.3 million) or more. It focused on their perspectives regarding this year’s stock market trends and their individual investment strategies. This specific demographic provided insights into the investment preferences and outlooks of high-net-worth individuals. In the survey, when these individuals were queried about the methods they’ve used to accumulate their wealth, the most prevalent answer was investment in financial instruments such as stocks and funds, with 35.9% indicating this as their primary method. Business income was the second most common source of wealth, cited by 29.9% of participants. Wage income was also a significant contributor, mentioned by 19.6%. Additionally, gifts and inheritance played a role, accounting for 7.1% of wealth growth. Meanwhile, real estate investments were the least common, with only 6.5% of the respondents identifying it as a key wealth growth strategy. Regarding the optimal timing for stock purchases this year, a notable portion of the investors expressed a preference for the beginning of the year, with many pinpointing the first quarter as the ideal time, as indicated by 51.6% of respondents. This preference was followed by the second quarter, favored by 27.7%, the third quarter at 13.6% and the fourth quarter being least favored with only 7.1%. In terms of promising industries for investment, over half of the respondents, 50.6%, identified artificial intelligence (AI) and semiconductors as the most prospective sectors. These technologies are viewed as pivotal in shaping the future of the tech industry. Following AI and semiconductors, rechargeable batteries, which were the top-performing segment in the previous year, garnered notable interest, with 16.7% of respondents favoring them. The survey identified key figures likely to impact the stock market this year: former U.S. President Trump (30.4%), U.S. Federal Reserve Chair Powell (15.8%), U.S. President Biden (7.1%) and Saudi Prime Minister Mohammed bin Salman (3.3%). Business leaders like Tesla’s Elon Musk (6.0%), OpenAI’s Sam Altman (5.4%) and Novo Nordisk’s Lars Fruergaard Jorgensen (2.4%) were also mentioned for their influence. When asked about the most important issue of the financial market for the new year, 51.1% pointed to “interest rate cuts in major economies” as their top concern. Following this, 15.2% highlighted the outcome of the U.S. presidential election as a significant issue. Additionally, the advancement of new industries such as AI and robotics was flagged as an important topic by 10.3% of those surveyed. Stock market experts’ crypto optimismIn contrast, a 2024 stock market outlook survey by local media outlet Money Today, which polled 225 stock market experts, showed a more optimistic stance towards investing in cryptocurrencies this year. When questioned about their willingness to invest in crypto assets like bitcoin, 20% responded very affirmatively, and an additional 34.2% expressed a similar interest, totaling over half of the respondents showing readiness to invest in cryptocurrencies. Meanwhile, 18.7% were unsure, and 27.1% had negative views, including 16.4% saying “no” and 10.7% opting for “strongly no”. In the newspaper survey, when specifically asked about bitcoin’s future value, 24.9%, the largest group of respondents for this question, predicted that bitcoin’s price would reach or exceed KRW 70 million, the highest estimate provided in the survey’s options. Meanwhile, 17.8% of the experts estimated that the price would range between KRW 60 million and 70 million.