MARBLEX Partners with Aptos to Expand Its Multichain Endeavors

Wemade Expands Web3 Ecosystem Through New CollaborationsSouth Korean blockchain gaming publisher Wemade has been making strides to expand its ecosystem. Most recently, the company announced that it made a series of new investments and signed a business deal with a social finance organization.Photo by Shubham Dhage on UnsplashInvesting in the future of blockchain gamesWEMIX PTE., a Singapore-based Wemade subsidiary, said Wednesday that it has invested in five Chinese game developers through a $30 million fund aimed at fostering promising blockchain gaming companies. Mirana Ventures, the Web3-focused investment unit of the crypto exchange Bybit, is also participating in the fund as an investor. The latest investment was worth $6.4 million.Each investee is working on a new game, ranging from massively multiplayer online role-playing games (MMORPG) to card strategy and sports games. All of these games will be onboarded to WEMIX PLAY, WEMIX’s blockchain gaming platform.WEMIX reaffirmed its dedication to working with Chinese projects and providing the new investees with its knowledge about blockchain technology and the burgeoning Web3 market.Giving back to the communityMeanwhile, the South Korean blockchain gaming publisher Wemade also signed a memorandum of understanding (MOU) with Social Solidarity Bank, a Korean social finance organization, to build a blockchain-based sponsorship ecosystem. Social Solidarity Bank offers microfinance and alternative finance services mainly in the form of loans and funds to economically vulnerable groups with the help of sponsors. It will be onboarding Wepublic, a transparent social platform based on WEMIX that allows users to create and operate their own decentralized autonomous organizations (DAOs).Under the agreement, Wepublic’s proof of balance protocol will be integrated into Social Solidarity Bank’s social finance system to mint mirror tokens that are linked one-to-one with individual accounts. The mirror tokens will serve to help donors understand how their contributions are translated into social outcomes. Sponsors can check the status and usage of donations at any time through records of token deposits and withdrawals.This service is set to launch next year and will be grow into a Web3 sponsorship business where sponsors will also be given the right to participate in governance voting.

The local government of Busan, the second-largest city in South Korea, announced in a press release that it held the 3rd Busan Blockchain Regulation-free Zone Steering Committee (Committee) meeting at the Busan Eurasia Platform, a community center located near Busan Station.  The meeting took place last Thursday at 15:00 (KST), attended by 12 Committee members, including Busan’s Vice Mayor for Economic Affairs Kim Kwang-hee, Busan Technopark Chairman Kim Hyung-gyun, Busan International Finance Agency Chairman Lee Myung-ho and Busan Information Industry Promotion Agency Chairman Kim Tae-yeol.Photo by Finn on UnsplashThe meeting was intended to discuss strategies to revitalize the blockchain regulation-free zone (blockchain zone) and to attract new blockchain businesses to the region. Busan has been recently struggling with developing and attracting blockchain technology companies to the region, which has cast doubt on the city’s ability to retain its status as the regulatory sandbox zone.   New 24 members, new commitment to invigorating blockchain zone Established in October last year, the 3rd Committee comprises 24 new members who have expertise in blockchain technology. The Committee aims to raise awareness of the blockchain zone’s potential and foster the blockchain industry within the region.  Kim Sang-min, Vice CEO of healthcare company Erom, was appointed Committee Chairman at the meeting. Known as an expert in the blockchain ecosystem, Kim currently serves as a blockchain policy advisor for Busan and has experience in taking the lead in establishing the Busan Digital Asset Exchange (BDX) last year.  More meetings in store to become a blockchain hub The meeting focused on creating subcommittees in an effort to facilitate the Committee’s seamless operation. Moreover, members reached a consensus on holding meetings at any time when warranted, in both online and in-person formats.  During the meeting, Busan Vice Mayor Kim said the newly launched Committee will contribute to identifying innovative businesses with great potential that require both cutting-edge blockchain technologies and a regulatory sandbox environment. 

South Korea to Revive Tech Exports with Metaverse, BlockchainThe South Korean Ministry of Science and ICT revealed today a strategy to enhance the country’s tech exports. The plan includes leveraging the potential of the metaverse and blockchain as promising export items.Photo by Pixabay on PexelsEmphasis on the digital sectorIn response to the recent decline in exports, the strategy seeks to establish new sources of growth by prioritizing the digital sector, which has historically been a key driver of Korea’s exports. Recognizing the complex challenge posed by the global economic slowdown and other factors, all government ministries are collaborating to counteract the export slowdown.The plan leverages South Korea’s digital capabilities and implements proactive measures to adapt to evolving export trends, including the recent advancement of generative artificial intelligence (AI) tools and the acceleration of digital transformation. By tapping into emerging markets and nurturing innovative companies, the government strives to diversify its export portfolio and strengthen its position in the global market.Despite achieving a record high of $248.8 billion in tech exports in 2022, Korea has faced year-on-year declines since July 2022 due to the global economic downturn. The semiconductor sector, which accounts for more than half of the nation’s tech exports, has been particularly sluggish. Nevertheless, the rise of new tech markets driven by significant technological advancements, such as ChatGPT, and the global push for digital transformation offer opportunities to overcome the current export slump.Emerging marketsAgainst this backdrop, the government is committed to backing the development of products that resonate with the evolving export landscape. It is eyeing emerging markets, notably the Middle East, Southeast Asia, and Latin America, recognizing their fertile grounds for the swift adoption of evolving tech trends, fueled by their substantial youth populations. Furthermore, the government plans to provide policy-level support to tech companies.Government supportUnder this plan, the government will identify promising companies and offer assistance, including consultation and guidance on product commercialization. It will also support metaverse companies participating in overseas projects by covering localization development costs.In the blockchain field, comprehensive support, including technology verification, consulting, and marketing, will be provided to those working towards international standardization for NFTs and their overseas commercialization.As part of this initiative, exhibition rooms will be established on metaverse platforms like ZEPETO and IFLAND in September. These platforms will provide opportunities for innovative firms to showcase their products. At the same time, the plan will facilitate interaction between Korean companies and overseas buyers through online and offline events to boost exports.