Dunamu Helps Adolescents Tell the Difference between Blockchain and Bitcoin

Animoca Indicates Fund Interest From Console MakersThe head of Animoca Ventures has said that Web3 gaming is attracting the interest of veterans of the gaming world as well as that of “key Japanese console makers.”Animoca Ventures is a subsidiary company of Hong Kong-headquartered Web3 gaming and NFT firm, Animoca Brands. In a conversation with The Block recently, James Ho explained that although Web3 gaming has seen a short to medium-term downtrend when using the pricing of gaming-related tokens as the metric, the Animoca Ventures lead is seeing interest coming from “some of the best, most profound veterans in gaming.”Photo by Albie Patacsil on UnsplashProof of interestHo elaborated that there are a host of examples that back up his claim. He referred to FunPlus’s investment in global cross-platform play-and-earn games developer and publisher, Xterio. FunPlus itself is a Switzerland-headquartered independent games developer and publisher with offices and operations in China, Singapore, Canada, Spain, and the United States. Xterio raised $40 million in a funding round led by FunPlus in August of last year, with funding going towards building out its platform alongside further game development.Ho also cited Square Enix, a Japanese gaming conglomerate that has shown an interest in blockchain-based gaming in recent years. In April, it announced that it was tripling down on blockchain by partnering with Web3 platform Elixir. The objective of the collaboration is to generate visibility and adoption of Web3 gaming among traditional gamers.It’s also understood that Chinese tech giant Tencent has had a games studio under its group of companies which is believed to be building a blockchain-based first-person shooter game. Meanwhile, French video game publishing behemoth Ubisoft is an investor in Animoca Brands while also participating in a crypto-focused fund run by multi-stage technology investment platform, White Star Capital.Console-maker intentMost notable from Ho’s interview, though, is his claim that “key Japanese console makers” have an interest right now in pursuing Web3 gaming. That’s incredibly significant because if Web3 can conquer the consoles, it will truly be a mass-market affair at that point.Ho elaborated: “Console makers never cared about free-to-play until it grew into multi-million users, what we’re seeing here now is some of the console makers with their deep pockets want to get involved in potentially a fund to stay on top of innovation… And that to me is a signal that they want to build something in this space in the near future, or not too distant future.”The Animoca Ventures lead talked about “key Japanese console makers,” specifically in the context of interest expressed by them in investing in a second early-stage venture fund that Animoca is considering. The expression of interest has become evident to the company as it’s a response it received having touted the prospect of establishing the fund.It’s interesting to hear that Animoca is actively pitching the notion of raising another fund, as it had been speculated that the firm has scaled down some of its existing funds. It’s understood that the firm was working on the new fund in November of last year, initially proposing a target of $2 billion. Once January came around, Animoca took the decision to scale that target back by half to $1 billion.The company denies that reporting on the subject, suggesting instead that the original target of the fund was $1 billion from the outset.

South Korean cybersecurity firm AhnLab’s blockchain arm, AhnLab Blockchain Company, is working with Web3 performing arts platform Metacultures to offer free limited edition NFTs to all visitors of the "School of Rock" musical world tour’s show in Seoul, according to local news outlet Etoday on Monday (KST). The NFTs will be issued via AhnLab Blockchain Company’s digital Web3 wallet, ABC Wallet. As a non-custodial wallet, this service uses multi-party computation to support multiple blockchain networks including Ethereum, Polygon and Klaytn.Photo by Gwen King on UnsplashPreserving memories"We aim to offer a way for Korean fans of the 'School of Rock' musical to preserve the special experience of the performance with this NFT," said Lim Joo-young, Business Leader at AhnLab Blockchain Company. "We will continue to carry out various projects based on blockchain technology at various events." Visitors who wish to receive the NFTs can scan the QR code provided at the performance venue and register an ABC Wallet using their social media accounts on the linked site, after which the NFT will be automatically issued to their wallets. "We are glad to be able to provide NFT products for the 'School of Rock' musical to the audience through ABC Wallet, which boasts excellent security. We look forward to various security-based collaborations with AhnLab Blockchain Company in the future," said Lee Sang-woon, CEO of Metacultures. Show detailsThe ongoing performance will be held until March 24 at the Seoul Arts Center’s Opera House in Seocho-gu, Seoul.

Taiwan Proposes New Crypto Business CategoryWith regulation having trailed the crypto innovation, more recently it seems like every day brings further developments, with the latest installment seeing Taiwan take a significant step forward. Officials in Taipei are proposing the classification of crypto regulations within their own novel business category.Photo by Jack Brind on UnsplashFostering self-regulationThe move aims to potentially allow cryptocurrency-related companies to establish industry associations, ultimately fostering the creation of self-regulatory guidelines. The Ministry of Economic Affairs, in a recent announcement, unveiled its draft amendment to the Standards of Classification of Commercial Group regulations. This proposed amendment centers on the inclusion of a distinct category for digital asset services.An official from the economic ministry informed The Block that the freshly introduced business category outlines the scope of operations within the cryptocurrency sector. This encompasses various activities, such as cryptocurrency to fiat or digital token exchanges, facilitating cryptocurrency transfers, offering services for crypto storage and management, and providing assistance related to cryptocurrency issuance or sales.The official further elaborated that cryptocurrency firms will be permitted to form industry associations once the proposed business category is successfully incorporated into the relevant regulations. Seeking public input, the ministry anticipates finalizing the amendment in collaboration with the Ministry of the Interior in either mid- or late-October.Encouraging trade associationsBy allowing the establishment of industry associations, cryptocurrency companies can proactively devise self-supervisory rules that address industry-specific challenges and concerns. This move is anticipated to bolster transparency, security, and responsible conduct within the cryptocurrency ecosystem.Taiwan’s approach to virtual asset services providers (VASPs) has mandated compliance with anti-money laundering laws since the implementation of anti-money laundering regulations by the Financial Supervisory Commission in July 2021. However, the overall industry remains relatively unregulated within the country.Binance, the world’s largest cryptocurrency exchange, has recently embarked on the process of obtaining registration for anti-money laundering compliance under the FSC.Regulatory guidelines being draftedAs the regulatory landscape evolves, Taiwan’s FSC, which assumed its role as the principal regulator overseeing the crypto industry in March, is actively formulating comprehensive guidelines. These guidelines will cover trading and payment aspects associated with cryptocurrencies for VASPs.An FSC official revealed that the agency plans to unveil the VASP guidelines by the end of September. It’s understood that the guidelines will comprise thirteen regulatory principles. It’s believed that the issuance of crypto assets will be permitted but that stablecoin issuance will be prohibited. One prerequisite for the issuance of digital assets will be a requirement to accompany that issuance with a comprehensive whitepaper, detailing fundamental and necessary information that investors can review, relative to the token offering.Taiwan’s proposition of a novel business category signifies a pivotal move towards enhanced self-regulation and industry cohesion within the cryptocurrency sector. As the regulatory framework takes shape, the introduction of self-regulatory guidelines is poised to contribute to the responsible growth of the cryptocurrency industry in Taiwan.