ONEUNIVERSE Holds Second NFT Sale for Champions Arena

China and Singapore collaborate on cross-border digital yuan transactionsTaking yet another stride toward globalizing the e-CNY currency, China’s central bank has unveiled a pilot program in collaboration with its Singaporean counterpart, enabling tourists from both countries to use the digital yuan for transactions when traveling.Photo by Eric Prouzet on UnsplashSeries of initiativesThis move is part of a series of initiatives unveiled by the two governments during a Joint Council for Bilateral Cooperation event which was held in Tianjin, China, last week. Among the announced measures is a mutual 30-day visa-free travel arrangement, one of 24 deals signed to strengthen bilateral ties between China and Singapore.The Monetary Authority of Singapore (MAS) disclosed in a statement that it had collaborated with the Digital Currency Institute of the People’s Bank of China (PBOC) for this initiative. The program aims to facilitate the use of the digital version of the Chinese currency for tourist spending, enhancing convenience for travelers during their overseas trips. While specific details about the scheme were not disclosed, it represents a collaborative effort to promote cross-border transactions using the digital yuan.Internationalizing the digital yuanIn its reporting on the announcement, the South China Morning Post (SCMP) pointed to the views of Richard Turrin, an independent financial technology consultant and author of “Cashless: China’s Digital Currency Revolution.” Turrin sees the digital yuan collaboration as a promising opportunity for cross-border retail use. He suggests that starting with small transactions, such as those by tourists, could pave the way for broader applications in trade and other high-value scenarios.In an editorial back in November, the SCMP referred to the birth of the Petro-Yuan, speculating that the era of the Petro-Dollar is coming to an end. “In a global political economy long dominated by the petrodollar, this could be the beginning of a seismic shift,” the editorial stated. The internationalization of the e-CNY will likely be a key aspect of that overall monetary sea change.Over 5 years in developmentChina initiated digital yuan testing in 2019, and although an official launch timetable has not been confirmed, adoption has accelerated recently. Former PBOC governor Yi Gang reported that total e-CNY transactions reached 950 million yuan ($133 million) in June, with a cumulative value of 1.8 trillion yuan compared to 100 billion yuan in August 2022. This indicates a substantial increase in digital yuan transactions.The momentum extends beyond mainland China, with Beijing exploring CBDC usage internationally. The mBridge trial, completed last year, involved multiple countries using central bank digital currencies to settle trades, including Hong Kong, Thailand and the United Arab Emirates.In June, authorities in China’s resort city of Sanya introduced e-CNY ATMs so that foreign visitors could buy the digital yuan and use it during their time in China. Another initiative aims to encourage further use of the digital currency within the Chinese autonomous territory of Hong Kong. In July, the Hong Kong arm of the Bank of China rolled out a digital yuan shopping festival in Hong Kong, allowing visitors to Hong Kong from mainland China to make purchases using the digital yuan.

Jump Trades to Top of NFT MarketplaceJump.trade, which is considered to be the largest NFT marketplace in Asia, has now emerged as the leading NFT marketplace on the Polygon Network, as per a recent report published by DappRadar. This new ranking has placed Jump.trade ahead of other popular NFT marketplaces like OpenSea, Decentraland, and OKX NFT marketplace, among others.©Unsplash/Andrey MetelevJump №1 on PolygonThe firm acknowledged the achievement on social media last week, thanking its community for making the accomplishment a reality. Kameshwaran Elangovan, Co-Founder and COO of Jump.trade, expressed his delight with the recent ranking and called it “an astounding statement of our team’s hard work and the enthusiasm of our community who keep our marketplace always buzzing.”While clearly an “unlocked achievement” as the company itself put it, it’s important to note that NFT marketplace development on the Polygon network has been much more recent. The bulk of NFT marketplace trading volume still occurs on blockchains such as Ethereum with NFT marketplaces OpenSea and upstart Blur dominating and accounting for 90% of NFT trade.First P2E cricket gameIt is worth noting that Jump.trade had introduced the world’s first P2E cricket game NFT collection last year, which consisted of 55,000 NFTs from the Meta Cricket League. Interestingly, this collection had sold out within a mere nine minutes, underlining the immense popularity and demand for NFTs. Jump.trade has also formed partnerships with various renowned brands such as Pepsi and Cadbury to make NFTs more accessible and develop a metaverse ecosystem where both brands and individuals can collaborate.Global ambitionsThe company has set its sights on becoming a major global player in the gaming NFTs market and is expected to benefit from the projected growth in the NFT market. This market is estimated to be worth $231 billion by 2030, with the gaming and sports industries anticipated to be the key drivers of NFT-related products.Jump.trade is a collaboration between Indian firm Appstars Applications and Singapore’s Guardian Blockchain Labs. As an emerging tech superpower, India has a robust technical infrastructure that can enable the NFT industry to penetrate even the remote areas of the country. However, a well-structured regulatory framework will be critical for faster adoption of NFTs and digital collectibles, and ownership will play a crucial role in taking India closer to achieving its goal of an $800 billion digital economy by 2030.Flipkart Labs partnershipJump.trade is also the platform for the upcoming RADDX Racing Metaverse NFTs, and it provides opportunities for brands to leverage Web3/gaming for branding. On Wednesday, Jump.trade announced its partnership with Flipkart Labs, the blockchain and NFT offshoot of Indian e-tailer Flipkart. Both companies are collaborating on the RADDX Web3 advertising innovation.Jump.trade CEO and Co-Founder Ramkumar Subramaniam said that “brands like Flipkart getting into metaverse advertising and Web3 marketing will serve as an encouragement and a beacon for a lot of brands to follow suit.” As part of the deal, Flipkart Labs bought Digital Lands, a digital land parcel within the RADDX Racing Metaverse.

Startale Labs, the driving force behind initiatives such as the Astar Network smart contract hub and Startale Web3 Cloud, has secured a financial injection of $3.5 million. This backing, announced by Startale through a recent blog post, comes through a collaboration between UOB Venture Management, a subsidiary of the Singaporean financial giant UOB, and Samsung Next, the corporate venture capital arm of Samsung. UOB Venture Management is renowned for its equity financing in Southeast Asia and Greater China, bringing deep regional market insights to the table. Meanwhile, Samsung Next Ventures, an integral part of Samsung's innovation ecosystem, is dedicated to exploring cutting-edge technologies, including AI, fintech and blockchain, with a vision to shape the future of technology.Photo by Louie Martinez on UnsplashFunding talent acquisitionThe freshly acquired funds are earmarked for pivotal purposes, primarily focusing on bolstering talent acquisition and driving forward the development of Startale Labs' diverse product portfolio. Taking to the X social media platform, Astar Foundation Chief Operating Officer (COO) Shun Ishikawa confirmed that in light of the recent funding, Startale is hiring and it welcomes applicants to get in touch, particularly engineers. Moreover, alongside the $3.5 million capital injection, Startale also drew attention to a strategic alliance with Sony Network Communications to embark on a blockchain venture. With these combined resources, Startale aims to accelerate its development trajectory. Paul Ng, Executive Director of UOB Venture Management, emphasized the importance of real-world use cases in onboarding new users to Web3 technologies. Ng stated: "We are excited to support Startale, who have demonstrated expertise and experience in building successful Web3 products, in their mission to bring billions of users into the Web3 ecosystem.” Having made significant strides since its establishment in January 2023, Startale Labs has garnered support from these leading Asian enterprises within a remarkably short span. Sota Watanabe, CEO of Startale Labs, outlined the company's vision for the future, stating: "With the funds raised, we aim to invest in product development and recruitment to create a truly representative Web3 company of Asia and beyond." Through his X account, Watanabe expressed the intention that “we’re going to prove that Japanese startups can be successful in the world.”Sony joint ventureAn initial investment of $3.5 million by Sony in June of last year was followed in September by a collaboration between Sony Network Communications and Startale Labs, giving rise to the joint venture "Sony Network Communications Labs Pte. Ltd." This venture is dedicated to developing a blockchain infrastructure aimed at underpinning global Web3 initiatives. The objective is to harness blockchain advancements to create compelling use cases that foster wider adoption of Web3 technology. Sony Network Communications Labs is structured such that Sony Network Communications holds a 90% stake in the venture, with Startale Labs contributing the remaining 10%. Startale Labs' recent funding infusion, coupled with strategic partnerships with industry giants, appears to be putting the blockchain startup firmly on the road towards driving innovation and playing its part in shaping the future of Web3 technology.