Bitget commits fund to bolstering Indian blockchain innovation

Audius Achieves Token Listing On India’s CoinSwitchAudius, a decentralized music streaming platform which is attempting to cut intermediaries out of the music business, took a major leap forward in the Asian market on Wednesday, scoring a listing of its native $AUDIO token on Indian crypto exchange, CoinSwitch.Photo by Studio Art Smile on PexelsIn announcing the token going live on the platform CoinSwitch encouraged platform users to “trade $AUDIO today and support independent artists worldwide.” Founded in the United States in 2018 by Stanford University graduates Forrest Browning and Roneil Rumberg, the project launched its $AUDIO token in 2020.The token commenced trading on top tier global crypto exchanges shortly afterwards. In terms of listings on Asian exchanges, $AUDIO can be traded on DigitFinex Global, Bitrue and BingX in Singapore, HitBTC and Hotbit in Hong Kong and Tokocrypto and INDODAX in Indonesia. While it is already listed on WazirX, India’s largest crypto exchange by trading volume, the project will welcome another Indian listing via CoinSwitch given a market that ranks sixth in the world in terms of crypto ownership, with a backdrop of a population of 1.4 billion.Web3 with a Web2 UXAudius has taken a different approach than most other crypto projects. From the outset, its founders have focused on giving the platform the look and feel of a Web2 streaming service. Audius decided to embed its non-custodial wallet Hedgehog into the user login process.The strategy has been to make the UX as customer friendly and intuitive as possible in order to aid user on-boarding. There have been trade-offs in taking this approach and with that, the project advises users to keep only a small amount of the $AUDIO token within the Hedgehog wallet. When Hedgehog was launched in 2019, a project blog post proclaimed that “decentralization doesn’t have to come at the expense of user experience.”TikTok integrationEarlier this year, the Web3 streaming service integrated TikTok, allowing platform users to create accounts simply by linking their TikTok profiles. Additionally, the integration meant that users could share their Audius songs in the TikTok videos they produced.In late January, the $AUDIO token jumped 70% in a matter of hours once it became known that Coinbase planned to list the token on January 26. While a CoinSwitch listing is a significant milestone for the project in the Indian market, naturally it doesn’t compare with the volume that a global exchange listing on Coinbase can bring. At the time of publication, the $AUDIO token was trading at $0.29.For its part, CoinSwitch has experienced many of the ups and downs that this nascent industry could possibly deliver. In August 2022, five properties associated with the crypto exchange were searched by India’s Enforcement Directorate on the grounds of suspected contravention of India’s Foreign Exchange Management Act (FEMA).Founded in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari, the firm has attracted investment and backing from Andreessen Horowitz, Coinbase Ventures, Tiger Global Management and Paradigm.

Metaverse Expo 2023 in Seoul: Exploring the Future of the 3D InternetThe Metaverse Expo 2023 is scheduled to be held at the COEX, an exhibition and convention venue in Seoul, from June 14 to 16, according to a press release. With its focus on the future of the three-dimensional Internet, this event seeks to attract metaverse enthusiasts eager to explore cutting-edge technologies. This year, the “Metaverse + Generative AI Summit” will run alongside the expo, showcasing the diverse applications of generative AI in enhancing efficiency within the metaverse.Photo by julien Tromeur on UnsplashKorea’s strategy for metaverse promotionIn February last year, the Korean Ministry of Science and ICT revealed a metaverse promotion strategy involving a comprehensive support plan of 237 billion KRW ($179.6 million). This initiative seeks to cultivate an augmented reality ecosystem by developing metaverse platforms, fostering metaverse companies, and aiding their international expansion.The expo will host exhibits centered around four key topics: metanomics, digital twins, education, and NFTs. Attendees will explore innovative business models, learn about the replication of physical objects in the virtual realm, discover the potential of the metaverse in reshaping educational approaches, and understand the role of non-fungible tokens in establishing digital ownership.Side events to support businessesIn addition to the main exhibits, the expo will host various side events such as export and investment counseling sessions, new product presentations, and seminars. In collaboration with the Korea Trade-Investment Promotion Agency (KOTRA), a consultation program will be offered to encourage overseas buyers to engage with Korean companies. This program aims to support Korean businesses in promoting their products and services overseas, as well as connecting them with new buyers and investors who can contribute to their growth and expansion.Previously known as the Seoul VR-AR Expo, this event has been an annual feature since 2018, with VR representing virtual reality and AR representing augmented reality. In line with evolving industry trends, the event was rebranded to the “Metaverse Expo” in 2022. This year’s event will mark its sixth running, further cementing its role as a beacon for developments in the rapidly advancing metaverse landscape.

Rotonda, the operator of the Bithumb Burrito Wallet, has agreed to work with Swiss digital asset AI platform Smart Valor, according to South Korean news website Greenpost Korea. Burrito Wallet will adopt the features of Smart Valor’s Elonn.ai – a digital investment advisor that provides investors with AI-generated market news analysis and research for optimized investment. Photo by Shubham's Web3 on Unsplash"Our collaboration with Smart Valor, who was the main sponsor of our NextBlock blockchain conference last year, is significant. The company will serve as an ideal partner for us to lay out the blueprint of the global Web3 market together," said Max Shin, CEO of Burrito Wallet. Leading the European Web3 industryFounded in 2017, Smart Valor is a Swiss-based Web3 AI company and the first European digital asset platform to be listed on the NASDAQ First North Growth Market. It specializes in crypto AI market intelligence application programming interfaces (APIs), as well as investment platforms and crypto trading and custody infrastructure for banks, fintech firms and European investors. Global expansion and market access in South KoreaThrough the newest partnership, Burrito Wallet aims to provide high-quality investment services for users and contribute to the expansion of the Web3 ecosystem as a key partner for Smart Valor's global expansion. In particular, the collaboration will also serve as a bridgehead for Smart Valor's entry into South Korea. The firm’s VALOR token is currently listed exclusively on Bithumb among Korean cryptocurrency exchanges and will be supported for trading on Burrito Wallet, offering Korean users the opportunity to experience a more expanded Web3 market. To celebrate their cooperation, the two companies will be holding a Valor token trading event until Feb. 1. The first thousand Bithumb users to trade at least 30 Valor tokens during the event will receive an additional 30. Also, the first 2,000 users who sign up for Burrito Wallet and trade at least 30 tokens will receive 60 tokens for free.  "Starting with this event, we will not only expand the scope of our partnership with Smart Valor but also initiate various collaborative activities and develop features to ensure that Burrito Wallet is recognized as a unique Web3 wallet,” Shin added. Burrito Wallet has been accelerating efforts to expand overseas. The service recently increased its number of supported blockchain networks to 18 and entered global markets in Asia and Latin America.