Netmarble’s MARBLEX Secures Whitelist Approval for MBX Token in Japan

Conference in Pohang City attracts young metaverse enthusiastsThe Global Youth Metaverse Conference has commenced at the POSCO International Center in the South Korean port city of Pohang. This two-day event, starting from Nov. 21, gathers over 100 participants from both domestic and international spheres, including young individuals and business officials.The event provides a chance for participants to listen to lectures from scholars around the world, network with youths from various countries, and learn about the potential impacts of the metaverse. The presentations focus on business strategies for the burgeoning metaverse industry, illustrating its development through the convergence with diverse technologies and industries, including AI and blockchain.Photo by Richard Horvath on UnsplashYouth’s role in navigating the ‘Big Blur’The conference focuses on the youth’s leading role in navigating what’s called the “big blur.” This term alludes to the increasing blurring of boundaries between various industries, a phenomenon driven by the rapid and innovative technological advancements associated with the Fourth Industrial Revolution. This revolution encompasses transformative elements such as the Internet of Things (IoT), artificial intelligence (AI), and robotics, all of which are accelerating this convergence.During his keynote speech, Professor Kim Sang-gyun from Kyung Hee University paints a picture of the metaverse shaped by superhuman capabilities, emphasizing the transformative potential of technologies like AI, genetic engineering and nanotechnology in reshaping the future of humanity.Further enriching the dialogue, Daniél Ávila Arias, CEO of BoxMagic, explores the future of coding in everyday language. He delves into how advancements in large language models will revolutionize programming and our interaction with machines. Meanwhile, Lim Jung-hun, Principal at Deloitte Anjin, offers valuable advice to young entrepreneurs eyeing metaverse-related startups, highlighting the importance of customer experience in metaverse business implementations.Moses Im from The Sandbox shares insights into the profound changes expected as Web3 infrastructures and platforms gain more traction.Interactive and cultural activitiesThe conference also features a range of content events designed to spark creative discussions among the youth and enhance their understanding of the metaverse. These include a booth for immersive virtual interactions, an exhibition displaying works from the Creative Metaverse Festival, and a digital photo exhibition promoting cultural tourism in the province.Echoing the event’s themes, Kim Nam-il, Deputy Mayor of Pohang, affirmed the city’s dedication to nurturing the metaverse industry, recognizing it as a new frontier in the digital age. He stated that the city is taking proactive steps to explore and develop this sector and assured that they will provide extensive support and cooperation to foster its growth.

Blockchain Firm NEOPLY Rebrands as Neowiz Partners to Focus on InvestmentNeowiz Holdings, a South Korean investment holding company, announced today that its blockchain subsidiary NEOPLY held an extraordinary general meeting of shareholders and rebranded itself as Neowiz Partners, according to local news outlet News1. Upon this name change, the company will participate as a liquidity provider in the industry through strategic partnerships with investment firms such as venture capital firms and private equity funds.Photo by Precondo CA on UnsplashAbu Dhabi’s supportEarlier, it was revealed that Neowiz Partners became a part of the Innovation Programme offered by the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE). This program offers incentives to various businesses operating in high-growth areas like financial services and technology.Diverse portfolioUnder its new name, Neowiz Partners aims to build a diverse portfolio of investments in promising companies committed to emerging technologies such as artificial intelligence (AI) and robotics. This strategic move is intended to foster future growth and seize the potential offered by these innovative sectors.Neowiz Partners’ global headquarters, known as H-Lab, located in the Abu Dhabi Global Market (ADGM), will oversee investment and management related to its blockchain businesses. Meanwhile, the operations of these blockchain projects will continue to be managed by NEOPIN, a subsidiary of H-Lab and a CeDeFi protocol that operates as a one-stop solution for those seeking a non-custodial wallet.Earlier reports highlighted NEOPIN’s achievement in launching Korea’s first liquid staking products for ETH. This approach enables users to deposit their cryptocurrencies into a staking pool and receive liquidity provider tokens in return. These tokens can then be deposited again to generate additional yields.On the occasion of this renaming, Neowiz Partners will establish itself as a dedicated investment company, while H-Lab will concentrate on serving the blockchain industry and associated ventures.

DeFiance Capital Secures Interim Victory in Dispute With 3ACSingapore’s DeFiance Capital, a Web3 and crypto investment firm, has notched up a small triumph in its ongoing $140 million legal clash with failed Singaporean crypto hedge fund, Three Arrows Capital (3AC).Photo by Sasun Bughdaryan on UnsplashFavorable rulingAccording to a statement provided via a Medium blog post by DeFiance Capital Founder and CEO Arthur Cheong on Tuesday, the High Court of Singapore has delivered a favorable ruling for the firm, endorsing its preference for jurisdiction in Singapore, rather than the British Virgin Islands, which had been advocated by 3AC.The tussle between 3AC and DeFiance Capital centers around the ownership of certain assets. The liquidators appointed by the British Virgin Islands Court, from Teneo, assert that these assets essentially belong to 3AC’s creditors. However, DeFiance Capital argues vehemently that these assets must be partitioned and returned to its stakeholders.Struggle over assets and jurisdictionAt the heart of the matter are assets totaling $115 million, encompassing digital currencies and non-fungible tokens (NFTs), which currently remain under the control of DeFiance Capital. Additionally, there are 69 SAFE (simple agreement for future equity)/SAFT (simple agreement for future tokens) agreements linked to 3AC. Although Teneo places the collective worth of these assets at roughly $141 million, DeFiance Capital’s estimation is more conservative, pegging it at around $120 million.Beyond asset ownership, jurisdiction has become a pivotal point of contention in the legal discourse. DeFiance Capital has steadfastly advocated for legal proceedings to take place in Singapore, where it operates, as opposed to the British Virgin Islands. The recent ruling from the High Court of Singapore lends support to this stance, challenging Teneo’s argument.DeFiance articulated its position, asserting: “Our position was that all the important witnesses and documents are in Singapore and the dispute ought to be heard by the Singapore Courts to ensure all relevant evidence would be available.”With the court’s decision aligning with DeFiance’s jurisdictional preference, the firm hopes that this development will pave the way for more substantive engagement between the parties, rather than being embroiled in procedural wrangling. The firm believes that this will allow the focus to shift towards addressing the core issues at hand.Business riftThe genesis of this legal saga dates back to 2020 when DeFiance was established as part of the 3AC group, operating autonomously under the stewardship of its founder, Arthur Cheong. The rift escalated in February 2022, when Cheong declined 3AC’s proposal to relocate to Dubai, eventually leading to the formation of two Singapore-based firms in May of that year.Furthermore, in the same month, DeFiance extended a loan of $35 million worth of USDC to 3AC, effectively becoming a creditor. Complications arose when 3AC’s founders transferred legal rights related to DeFiance Capital, a transaction that remained incomplete as 3AC filed for bankruptcy.In light of the ongoing dispute, 3AC asserted that DeFiance’s assets should be harnessed to settle its debts. However, DeFiance firmly stood its ground, upholding its ownership claims over the assets.With liquidators advocating for resolution in the British Virgin Islands — a move that DeFiance rejected due to its Singaporean management ties with 3AC — the stage was set for the legal clash that has now taken a notable turn with this recent court ruling.