Galaxia Metaverse and ZIKTALK to Expand Blockchain and Web3 Initiatives

Blockchain Tech Enhances Korean Meat Industry’s Trading SystemThe Korean meat industry is leveraging blockchain technology to optimize its meat trading system.©Pexels/mali maederOn Tuesday, the MOOxMOO Foundation, a Korean blockchain-driven supply chain management provider, announced its strategic partnership with meat processing company PMD, according to the Maeil Business Newspaper.Inefficient distributionThe partnership aims to enhance the transparency of the meat trading system and address issues of inefficient intermediary distribution, particularly regarding payments, settlements, and deliveries. This goal will be achieved through the foundation’s meat trading platform MOOxDEAL, which will utilize soulbound tokens (SBTs) to verify identities of supply chain participants.Rising meat demandThe OECD-FAO Agricultural Outlook 2022–2031 stated that in 2021, world meat imports are estimated to have reached 40 million metric tons (Mt), with poultry imports leading the way. Brazil, the European Union and the United States were among the top meat exporting countries, meeting a significant portion of the increased import demand.Meat consumption is projected to grow by 15% by 2031, driven by an expected 11% increase in the global population. Global meat supply is projected to reach 377 Mt by 2031, though growth will not be as rapid as the previous decade.The amount of protein available from poultry, pork, and beef is expected to increase globally by 16%, 17%, and 8%, respectively, by 2031, with poultry being the main contributor to overall meat production growth. The majority of meat production growth is set to occur in developing regions.Costs onto consumersDespite increasing global meat production, the unsuitable distribution structure in Korea may shift costs onto consumers.Through the partnership, the MOOxMOO Foundation looks forward to addressing the inefficiencies of intermediary distribution and benefiting consumers. The foundation also envisions its platform contributing to the Korean meat industry by optimizing both business to business (B2B) and business to consumer (B2C) trading.

Algorand Foundation and DWF Labs Partner for Ecosystem GrowthThe Algorand Foundation has joined forces with DWF Labs, a global digital asset market maker and Web3 investment firm, in a strategic partnership aimed at accelerating the growth of the Algorand ecosystem.An announcement of the collaboration was made on Monday, with the expectation that it will provide more opportunities for developers, businesses, and the wider blockchain community where the Algorand layer one blockchain is concerned.Photo by Shubham Dhage on Unsplash$50M token purchaseDWF Labs has committed to purchasing $50 million worth of $ALGO tokens, the native cryptocurrency of the Algorand network. This infusion of funds will enhance liquidity within the Algorand ecosystem, bolstering stability and growth.Beyond the token purchase, the partnership is reinforced by a memorandum of understanding (MOU), establishing a comprehensive funding framework to support projects built on the Algorand blockchain. This commitment will foster innovation across various sectors such as decentralized finance (DeFi), art and music, gaming, oracles and bridges, and infrastructure.Ecosystem collaborationsWeb3 investment firms like DWF Labs play a pivotal role in accelerating the growth of blockchain ecosystems. By investing in startups and projects that complement existing blockchain platforms, DWF Labs creates synergies that drive growth.It’s not the first time that DWF Labs has collaborated with blockchain network ecosystem projects. Earlier this month, the firm announced a deal with the project team behind layer one blockchain TRON, that will see it become a liquidity provider to that TRON network.In April, DWF entered into a partnership with the EOS Network Foundation (ENF) which included a $45 million $EOS token purchase agreement, with a further $15 million allocated towards investment into EOS ecosystem projects.Andrei Grachev, Managing Partner of DWF Labs, expressed enthusiasm for the partnership, highlighting Algorand’s technological superiority, security, and commitment to environmental sustainability and social impact.Through funding and strategic collaboration, DWF Labs will support the creation of diverse applications, services, and solutions within the Algorand ecosystem. This will foster the ALGO network effect, attracting more users and driving further growth.Algorand network stability and growthThe Algorand Foundation and DWF Labs partnership aligns with ongoing efforts to drive blockchain network adoption. Algorand’s platform offers scalability and security, while DWF Labs’ expertise and financial support will propel the ecosystem’s growth and adoption.The Algorand network is a proof of stake (PoS)-based blockchain network. It aims to accelerate the convergence between existing TradFi and emerging decentralized networks and technologies.The $50 million investment in ALGO tokens injects liquidity into the ecosystem, promoting stability and facilitating economic activities. The partnership’s funding framework ensures that projects built on Algorand receive the necessary resources.Collaborations like this drive blockchain adoption and development. The Algorand Foundation and DWF Labs share a vision of innovation and collaboration, fostering a thriving ecosystem.As the blockchain industry expands, strategic alliances play a crucial role in accelerating innovation and establishing interconnected ecosystems. The collective efforts of the Algorand Foundation and DWF Labs contribute to blockchain’s advancement, leading towards a decentralized future with transparency and inclusivity.

Rotonda Signs Deal with The Sandbox for Blockchain Ecosystem ExpansionRotonda, a subsidiary of Korean crypto exchange Bithumb and the operator of the Web3 digital wallet Burrito Wallet, announced that it has signed a memorandum of understanding (MOU) with metaverse platform The Sandbox to expand its blockchain ecosystem.Photo by Shubham Dhage on UnsplashA space for creativity and monetizationThe Sandbox is a global metaverse platform that allows users to easily create and participate in games, avatars, and items. It also provides free three-dimensional content creation tools called VoxEdit and Game Maker, and users can monetize their content. It has partnered with over 400 major companies, including Netmarble, LINE Studio, Ubisoft, and Zynga, securing some five million subscribers worldwide. “We expect that users will be able to enjoy a new Web3 experience within the metaverse, where they can create their own content,” said Max Minchul Shin, CEO of Burrito Wallet.Elevating the metaverse experienceThrough the new partnership, Burrito Wallet will support wallet integration within The Sandbox’s platform by unifying the on-chain experience across services. Burrito Wallet users will thus have more convenient access to various content within The Sandbox, including LAND — the platform’s virtual real estate space for interacting and showcasing creativity — as well as personalized avatars and assets, and an NFT marketplace. Additionally, the company plans to enhance wallet utility by supporting the multi-chain functionality of SAND, The Sandbox’s utility token.“Our partnership with Burrito Wallet will make it easier and more convenient for users to enjoy The Sandbox,” said Cindy Lee, CEO of The Sandbox Korea.“We will continue to collaborate with companies from various fields to advance the Web3 market and establish ourselves as a distinguished wallet service in the global market,” Shin added.Rotonda’s global initiativesRotonda is actively collaborating with global projects to promote the mass adoption of Web3 and blockchain technology. Last month, it launched the iOS version of Burrito Wallet in a move to expand availability for Web3 users on all operating systems. The company also recently co-hosted Next Block 2023 with its parent company Bithumb to promote business collaboration and build an ecosystem for accelerating Web3 projects.