Bithumb to Launch Entrepreneurship Support Program

Wemade Releases Sustainability Report to Demonstrate Commitment to TransparencyWemade, a leading South Korean blockchain gaming company, has published its 2022 sustainability report, demonstrating its commitment to transparency and effective communication with shareholders and investors.Photo by Ash from Modern Afflatus on UnsplashThree ESG objectivesIn the report, Wemade CEO Henry Chang outlined three key objectives focused on environmental, social, and governance (ESG) principles. These objectives are strengthening the company’s eco-friendly practices, nurturing future minds in the blockchain industry, and establishing a transparent governance framework.Wemade’s WEMIX 3.0 ecosystem is built on three main pillars: the global blockchain gaming platform WEMIX PLAY, the DAO-based NFT platform NILE, and the decentralized finance service WEMIX.Fi. These platforms are supported by the WEMIX token and WEMIX Dollar (WEMIX$), which are key currencies within the ecosystem. WEMIX$ is fully backed by USD Coin (USDC).The WEMIX token is listed on more than 17 cryptocurrency exchanges, including KuCoin, Gate.io, and Bybit, according to CoinMarketCap. Meanwhile, WEMIX$ can be traded on WEMIX.Fi and centralized exchange BitMart.Transparency initiativesThe report highlights various transparency initiatives undertaken by the company. Wemade has partnered with crypto data platform Xangle, intending to enable users to monitor the real-time circulation of the WEMIX token. The company has also established a protocol investment committee of five members to review and approve diverse projects. Furthermore, the report mentions that all of the undistributed WEMIX tokens are held by institutional custodian Ceffu (formerly known as Binance Custody) to ensure WEMIX’s stability.According to the report, Wemade is committed to effective communication with stakeholders worldwide, including shareholders, token investors, and gamers. CEO Chang’s quarterly conferences play a significant role in unveiling the platform’s policies and answering stakeholders’ questions. Additionally, the company ensures the dissemination of information in multiple languages (Korean, English, Chinese, Spanish, and Indonesian), catering to global WEMIX token holders.CEO Chang underlined the company’s dedication to enhancing corporate transparency and fulfilling its social responsibilities. These measures are aimed at facilitating the sustainable growth of the blockchain company.

Dubai Tempts AI and Web3 Enterprises With Subsidized Commercial LicensesDubai has demonstrated over the past twelve months that it has its sights set on becoming a regional hub for innovation, and we have further evidence of that strategy today with news that the city is now enticing artificial intelligence (AI) and Web3 businesses with an unprecedented offer — commercial licenses at a 90% subsidy.Photo by Aleksandar Pasaric on PexelsAI and Web 3.0 CampusThe focal point of this strategic move is the Dubai AI and Web 3.0 Campus, a burgeoning tech haven designed to foster innovation and collaboration. The campus recently unveiled its decision to heavily subsidize licenses for companies choosing to establish a foothold within the city, publishing details of the move on Monday via a press release. The issuance of these licenses falls under the auspices of the Dubai International Financial Centre (DIFC), underscoring the city’s determination to attract global talent and diverse investment opportunities.Mohammad Alblooshi, CEO of DIFC’s Innovation Hub, expressed confidence in the power of this initiative, stating:“We are confident that by granting these licenses, we will attract more global talent and investment to the region and create a culture of collaboration and innovation.”The Dubai AI and Web 3.0 Campus is geared up to cater to its prospective denizens, equipped with cutting-edge AI lab facilities, comprehensive training programs, essential hardware support, and accelerator initiatives.All enterprises setting their sights on seizing the opportunity presented by the 90% subsidized commercial licenses are required to follow an application process.Crypto trading licensingDubai’s tech evolution extends beyond AI and Web3 realms. The city has been proactive in granting operational licenses to cryptocurrency exchanges, marking yet another stride toward its tech-driven future.In a recent development, Nomura’s crypto arm, Laser Digital Middle East, secured an operational license from Dubai’s Virtual Asset Regulatory Authority (VARA). This coveted license empowers Laser Digital to provide broker-dealer services and manage virtual asset investments within the emirate.The progressive regulatory approach taken in Dubai has led to crypto exchanges such as Bybit, choosing the city as the location for its headquarters. In June MENA-focused digital assets platform BitOasis became the first crypto company to be awarded a broker dealer license by the Dubai regulator.The regulatory approach taken in Dubai is proving to be progressive yet firm. The emirate hasn’t made the mistake of opting for ineffective light touch regulation that would attract the wrong type of crypto startup.That’s evidenced by the response of VARA to the establishment of the OPNX exchange within its jurisdiction. OPNX was founded by Su Zhu and Kyle Davies, the founders of failed Singapore-based crypto hedge fund, Three Arrows Capital (3AC). VARA issued the business’ founders with a reprimand earlier this year, for establishing a crypto-related platform in Dubai without having obtained a crypto trading license.Dubai’s willingness to embrace innovative technologies, coupled with its strategic initiatives and progressive regulation, is propelling it to the forefront of the global tech revolution. As it beckons AI and Web3 pioneers with enticing subsidized licenses and facilitates the growth of the cryptocurrency ecosystem, Dubai is carving a unique niche as a hub of technology and innovation and exploiting the potential growth opportunity that presents as a consequence.

SK Planet Teams Up with T1 for LoL NFT Event: ‘The Hero’s Journey’SK Planet, the data and tech subsidiary of South Korean conglomerate SK Group, announced last week that it is conducting a non-fungible token (NFT) event called “The Hero’s Journey.” This event is a collaborative effort with T1 Entertainment and Sports, the company behind League of Legends (LoL) team T1. T1 Entertainment and Sports is a global esports joint venture established by American company Comcast Spectacor and SK Telecom, the telecommunications subsidiary of SK Group.This event coincides with the 2023 League of Legends World Championship (Worlds 2023), taking place in Korea from October 10 to November 19 (local time).Photo by RDNE Stock project on PexelsMission-based adventureThe NFT promotion, running until December 3, promises a unique and rewarding experience for users. LoL and NFT enthusiasts are encouraged to complete five missions and earn NFTs at various physical locations related to T1, a participant in Worlds 2023.These locations include T1’s headquarters, Base Camp, Café & Arena, and HiKR Ground. To complete their missions, visitors can collect stamps from each site, sign up for a T1 membership, and either attend a Worlds 2023 game at the stadium or join the viewing party.Anyone who has downloaded UPTN Station, the digital wallet launched in June by SK Planet, can join this promotional event, with the chance to receive rewards for each completed mission. Rewards include NFTs of LoL players like Lee “Faker” Sang-hyeok and Choi “Zeus” Woo-je, discounts on T1 memberships, vouchers for the T1 HQ SHOP, and free drink coupons.Upon completing all five missions, participants will automatically be entered for a chance to win various prizes. These include AVAX tokens, player-signed jerseys, tickets to T1 CON — a fan meet-up with T1 players — and a T1 Bap invitation, which gives fans the opportunity to tour the T1 headquarters and enjoy a meal on-site.SK Planet’s NFT commitmentLately, SK Planet has been actively undertaking NFT endeavors. In June, it introduced an NFT membership program named “Road to Rich,” capitalizing on OK Cashbag, which is the popular customer rewards program of SK Planet. This was followed by the debut of a blockchain-centric ticketing service, developed in partnership with layer 1 blockchain protocol Avalanche. Looking ahead, SK Planet aims to provide an even broader range of practical utility NFTs.Commenting on their latest project, Kim Kyo-soo, who leads the customer experience division at SK Planet, shared his excitement about collaborating with T1, one of the world’s most popular esports teams. He sees the use of NFTs in this event as a meaningful way to connect with fans in person. Kim anticipates a strong response and active participation from the esports community.