Galaxia Metaverse Joins Hands with MVL Foundation to Expand Blockchain Ecosystems

Korean Blockchain Fund Supports Web3 Game Developer Growth in Southeast AsiaHashed, a Seoul-based blockchain venture fund, has spearheaded a seven-figure investment round for Decentralised Gaming Ventures (DGV), a Web3 game development support entity primarily serving Southeast Asia (SEA), according to a press release. This funding will help DGV in its mission to foster the growth of promising game developers in the region.Photo by Timo Volz on PexelsSEA as a Web3 Game HubDGV has set its sights on making SEA a hub to nurture game developers and bolster the Web3 game sector. The company has already established a studio in Singapore, where 32 talented game developers work in eight different teams, providing them with the necessary resources to design and introduce new gaming titles. Over the past year, DGV has supported the release of 15 games.Studio in SingaporeDGV further plans to help game developers in the region through alliances with renowned entertainment intellectual property (IP) owners. In the past, the company has teamed up with Singapore-based designer toys and art collectibles studio Mighty Jaxx, and recently appointed gaming veteran Derrick Sim as its Chief Operating Officer. Sim has expertise in collaborating with major entertainment IPs, including Marvel, StarCraft II, and FIFA Online 2.DGV CEO Samson Oh articulated the firm’s aspiration to forge an environment that empowers developers in SEA to create blockchain-powered Web3 games, anticipated to be the gaming industry’s future. With the support from Hashed, DGV looks to reinforce the region’s reputation as a fertile ground for innovative game developers.Hashed’s Co-Founder Ryan Kim commended DGV’s effective leadership, SEA governmental backing, and firm groundwork for expansion in the Web3 gaming industry. The investment in the firm signals the Korean fund’s belief in DGV’s seasoned team and its mission to leverage IP accessibility to advance its digital ownership initiative in the gaming realm.

AI sports challenge app Lillius has been selected as the first South Korean project in the Web3, sports and lifestyle categories to participate in the Cronos Accelerator Program, according to an official announcement on Wednesday (KST).Photo by Kelly Sikkema on UnsplashBridging exercise and Web3Lillius is a mobile app that allows users to participate in different sports and exercise challenges that use AI motion detection technology to analyze their form while performing the movements. After they complete a challenge, users can receive rewards based on their score. Notably, some of the challenges feature exclusive lessons from Korean Olympic medalists like taekwondo athlete Lee Dae-hoon, fencer Nam Hyun-hee and wrestler Jung Ji-hyun. Fostering innovationThe Cronos Accelerator Program, operated by global blockchain firm Cronos Labs, is an initiative aimed at nurturing and propelling startups in the Defi, Web3 and blockchain sphere, providing support in areas like technology, tokenomics, marketing, fundraising and more. In particular, participants in the program can receive mentoring and secure investment opportunities from industry experts. All participants are also eligible to receive an immediate stipend of $30,000 and the chance to win a $100,000 follow-up investment from Cronos Labs and its other partners. By participating in the Accelerator Program, Lillius plans to leverage its market potential, product appeal, cutting-edge AI technology and networks across the Cronos chain to become an innovative Web3 sports platform used worldwide.

HashKey Group, the Hong Kong-based regulated cryptocurrency exchange, is planning a partnership with crypto derivatives platform OKX.Photo by Ivan Lau on UnsplashAdvancing innovation and growthThe duo announced their plans via a press release which was published on Tuesday. The objective of the partnership is aimed at advancing compliant virtual asset innovation and industry growth in Hong Kong. The collaboration between HashKey Group and OKX capitalizes on the strengths and resources of both entities to elevate services and experiences. Harnessing these strengths the pair intend to contribute towards Hong Kong's emergence as a hub for the regulated virtual asset industry. The partnership will encompass various industry initiatives, including blockchain infrastructure development, product diversification and virtual asset investment education within the region. First regulated exchangeNotably, HashKey Group achieved a significant milestone last year by becoming the first Hong Kong Securities and Futures Commission (SFC)-regulated crypto exchange authorized to serve retail users. The firm secured Type 1 and Type 7 licenses from the SFC, in line with the  "compliance first” approach the company is taking. Founded in 2018 and headquartered in Hong Kong, with operations in Singapore and Tokyo, HashKey Group caters to a diverse clientele, including retail investors, institutions, family offices, funds and professional investors. The services offered by the company encompass a Hong Kong SFC-regulated virtual asset exchange, global asset management and wealth management, with a focus on blockchain and digital assets, blockchain node validation, tokenization and Web3 incubation and community operations. Its Singaporean subsidiary, digital asset fund manager HashKey Capital, secured a regulatory license from the Monetary Authority of Singapore (MAS) in December. Unicorn statusOKX Ventures, the investment division of OKX, played a crucial role in supporting HashKey's Series A financing. That Series A funding round saw HashKey achieve unicorn status with a $1.2 billion valuation earlier this month. OKX Ventures focuses on investing in projects that nurture sustainable growth within the global virtual asset ecosystem. OKX, already serving over 50 million users worldwide, has a notable presence with sponsorships that include Manchester City FC in the English Premier League (EPL) and the McLaren Formula 1 racing team. Earlier this month, the company expanded its sponsorship with McLaren. The digital asset exchange began onboarding customers in Hong Kong a month before officially launching operations there, aligning with the city's new virtual asset service providers (VASPs) regime implemented on June 1 of last year. In March 2023, OKX established a Hong Kong entity to launch virtual asset services, with plans to apply for the virtual asset service provider (VASP) license and Type 1 & 7 licenses under the Securities and Futures Ordinance. Approval is anticipated by early 2024. The collaborative effort between HashKey Group and OKX marks a significant stride in advancing compliant virtual asset innovations in Hong Kong. This partnership aims to enhance service offerings and customer experiences, further solidifying Hong Kong's position as a regulated virtual asset industry hub. By leveraging their respective strengths, these industry leaders are well placed to assist in elevating Hong Kong's standing in the global virtual asset landscape, fostering growth and compliance in this rapidly evolving sector.