Matrixport’s Market Sentiment Index Points Towards Bullish Momentum

Planetarium Labs opens pre-registration for Nine Chronicles MWeb3 gaming company Planetarium Labs is set to release Nine Chronicles M, the mobile version of its popular game Nine Chronicles, on Nov. 22 at 2 a.m. UTC, accompanied by a global pre-registration event that will run from now until Nov. 21.Photo by Priscilla Du Preez 🇨🇦 on UnsplashNine Chronicle M is a fully on-chain open-source massively multiplayer online role-playing game (MMORPG) — the first of its kind — set against the backdrop of Norse mythology. The PC version of the game has been in development since 2020 and has consistently topped the ranks of dapp store DappRadar’s blockchain game listings with more than 200,000 users worldwide.Bringing Web3 to gamers worldwide“Through this mobile release, users will be able to enjoy Nine Chronicles anywhere at any time,” said Kim Jae-seok, CEO of Planetarium Labs. “We expect to introduce the Web3 experience with an approach that is familiar even to ordinary gamers who are not familiar with blockchain technology by supporting in-app purchases on Google Play and Apple’s App Store.”The pre-registration event will be open to participants all over the world in regions like East Asia, Southeast Asia and Europe. Participants will be eligible to receive various rewards, including up to 10,000 units of the in-game currency Nine Chronicles Gold (NCG), which can be used to purchase in-game items or staked to earn additional rewards. The event will also offer diverse benefits to attract a larger user base through activities such as the Gacha Workshop, which when unlocked presents free rewards like NCG and rare costumes.To overcome the currency exchange-related roadblocks that tend to stand in the way when releasing Web3 games in Korea, Nine Chronicle M’s Korean release will exclude the bridge function that moves NCG to the Ethereum network.High hopes“Nine Chronicles M can play a crucial role in promoting widespread Web3 adoption and is expected to grow as one of the representative games in the idle RPG genre,” said Alan Lau, Chief Business Officer of Animoca Brands, a blockchain firm that invested $32 million in Planetarium Labs during their Series A funding round.

China Launches National Blockchain Center to Develop TalentHaving initially been announced in February, China’s National Blockchain Technology Innovation Center was formally launched on Wednesday. The center is based in China’s capital city of Beijing, and plans to collaborate with existing crypto and blockchain businesses, think tanks that concern themselves with blockchain and digital assets, and local universities in an effort to further advance blockchain technology within China’s borders.Photo by Hanson Lu on UnsplashEnterprise blockchain developmentEncompassed within the National Blockchain Technology Innovation Center lies the Beijing Academy of Blockchain and Edge Computing. The academy’s leading achievement to date has been its development of the ChainMaker blockchain. The state-sponsored blockchain incorporates clusters of high performance servers of 1,000 units or more, and it claims to achieve a throughput of 240 million transactions per second.The blockchain is being geared towards enterprise use, and the sharing of information between businesses. The ChainMaker project team has also developed an immutable storage mechanism called “Hong”. It’s understood that the team plans to open-source that technology in due course. The storage system is being used by around 80 government departments in Beijing to collect and store data.ChainMaker is collaborating with fifty corporations, with most of them being state-owned entities.Linking up separate networksIn these efforts to advance China’s blockchain sector, the Center is being backed by China’s Ministry of Science and Technology. One of its key objectives is to ensure that the research center enables a comprehensive, nation-wide network to link together disparate blockchain systems, including those already built, within China. Furthermore, the Chinese authorities want the Center to support existing industries, serving them by bringing blockchain technology to their operations, and in that way advancing businesses with that added competitive edge.Zheng Zhiming, a leading academic at the Chinese Academy of Sciences said that existing blockchain projects are isolated from each other. Zhiming believes that this is holding them back, impeding their growth. This latest approach through the National Blockchain Technology Center is geared to address that shortcoming.It’s interesting to note that while the Chinese authorities have taken a very hard line in relation to cryptocurrencies, they are very much trying to advance their blockchain sector. Likewise, they are pulling out the stops for China’s central bank digital currency (CBDC) project, the digital yuan or e-CNY.It emerged last week that the Bank of China has partnered with French international banking group BNP Paribas, in an effort to promote further use of the digital yuan among the bank’s corporate clients.A dual strategyMeanwhile in China’s autonomous territory of Hong Kong, the city has been given an implicit mandate from the Chinese central government to open its doors to cryptocurrency-related businesses. Cleverly, the Chinese are covering both eventualities. While they don’t want citizens within mainland China to have access to decentralized cryptocurrencies and dApps, they still don’t want to miss out on any upside that the technology and its innovation may bring.On that basis, Hong Kong has been given the space and freedom to compete for crypto business on a global basis, competing in that respect with other emerging centers such as Singapore and Dubai.

Untangled Finance Launches Tokenized RWA PlatformUntangled Finance has officially launched its tokenized real-world asset (RWA) marketplace on the Celo network, according to a report by CoinDesk.Photo by Blake Wheeler on UnsplashVietnamese rootsThe platform’s inauguration follows a successful $13.5 million venture capital funding round, with Fasanara Capital, a London-based asset management firm, serving as the lead investor. Untangled is also London-headquartered, with most of its employees from Vietnam.Private tokenized credit poolsIn addition to its investment, Fasanara Capital has initiated two private tokenized credit pools on the Untangled platform, focusing on off-chain operations and underwriting loans.Untangled’s expansion plans are ambitious, aiming to extend its reach to the Ethereum (ETH) network and the layer 2 scaling solution Polygon (MATIC) via Chainlink’s Cross Chain Interoperability Protocol. This strategic move transforms Untangled into a multi-chain and interoperable RWA credit protocol, catering to a broader spectrum of users and assets.Untangled Finance’s specific focus lies in the private credit market, a sector valued at over $1 trillion. The platform aims to bridge the gap between traditional private credit and blockchain technology by tokenizing these assets. Currently, decentralized finance (DeFi) platforms account for only $550 million of private credit assets, according to data from rwa.xyz.To achieve this, Untangled is concentrating on fintech lending, including services like invoice financing and consumer loans based on salary advances. The platform also targets “green assets,” such as working capital or development loans for eco-friendly infrastructure projects like battery swapping stations.Untangled serves as the infrastructure to host blockchain-based credit pools. Investors, including certified investors, firms, and decentralized autonomous organizations (DAOs), can deposit funds into these pools to lend and earn a yield. In return, depositors receive an ERC-20 token representing their positions in the pool.Asset tokenization potentialAsset tokenization, the process of representing traditional financial assets on a blockchain, has emerged as a key growth opportunity in the digital asset space. This trend comes as the industry grapples with the aftermath of a challenging bear market and the fallout from high-profile implosions witnessed in recent years.Tokenization has the potential to transform various real-world assets, such as credit, real estate, or bonds, into blockchain-compatible tokens.Untangled Finance is attempting to set itself apart from other RWA lending protocols through innovative product features, including a built-in liquidation engine designed to auction off collateral assets if the pool’s health falls below a certain threshold. The platform also employs a credit assessment model to monitor borrowers’ future default risks and offers an auction-based withdrawal mechanism for investors seeking an early exit from the pools.Francesco Filia, CEO and CIO of Fasanara Capital, commented on the significance of this development, stating:“We see an upcoming merging of worlds. “On one side, fintech lending which fills the gap in underserved SME and consumer markets and, on the other, the way values are being transferred within the new world of digital assets.”