UAE’s RAK DAO Partners with HBAR Foundation to Support Web3 Startups

Intella X and CARV Team Up to Revolutionize Web3 GamingIntella X, the Web3 blockchain gaming platform developed by South Korean gaming company Neowiz, has entered into a partnership with CARV, a company that is currently building gaming credential infrastructure. Together, they intend to lead the era of innovative and cutting-edge Web3 gaming by improving the gaming experience, such as boosting player engagement and fostering an active gaming community.Photo by Mateov on UnsplashElevating the gaming experienceCARV’s platform provides a multifaceted experience for gamers, allowing them to explore a diverse range of games, collect rewards, and interact with fellow gamers around the world. In particular, they can also create a profile where they can organize all of their gaming achievements into verified and evolving credentials. On the other hand, Intella X offers service protocols like Proof of Contribution to cater to game developers and users in its ecosystem.Expanding horizonsUnder the partnership, CARV will onboard a selection of Intella X games to its CARV Play platform, the first of which will be the mobile Play-to-Earn (P2E) game Crypto Golf Impact and the MMORPG EOS Gold. The company will also support Intella X in order for it to expand its global presence and gain a larger user base, which entails leveraging CARV’s data analysis technology to create effective marketing and in-game quest campaigns to optimize user acquisition.“CARV is excited to partner up with Intella X in an effort to help their games scale by providing targeted user acquisition through player credentials as well as providing user insights that allow Intella X games to truly understand their communities. The Intella X team is filled with industry veterans who know how to disrupt an industry. CARV couldn’t be happier to align with such a strong brand in the space,” said Paul Delio, Head of Business Development at CARV.

Sony Electronics Singapore has partnered with Singapore-headquartered Crypto.com to enable USDC stablecoin payments for local consumers on Sony’s online store. In a statement published on April 2, Crypto.com provided details on the development. By accessing Crypto.com’s payment system, Sony customers in Singapore can pay for items on the Sony platform using the U.S. dollar-pegged stablecoin.Photo by Alwin Thomas on UnsplashPlans to expand payment optionsThe gaming, entertainment and consumer electronics giant also outlined that USDC payments are a starting point, with plans to expand the offering to include other crypto payment options in the future. Commenting on the development, Crypto.com’s General Manager for Singapore, Chin Tah Ang, stated: “We’re pushing to make paying in crypto more mainstream and partnering with a well-established and forward-thinking brand like Sony Electronics Singapore further raises awareness of how simple it can be to pay for everyday goods and services using crypto.” The Crypto.com executive added that a high-profile brand like Sony would provide further visibility with regard to crypto payments. Sony dominates the gaming console market in Singapore, with a 61% share of the market within the city-state. A successful roll-out of this crypto payment option in Singapore could potentially lead to further roll-outs in other regions. Keeping pace with shift towards cryptoBlockchain industry pioneer Kyle Chasse, outlined on X that the development demonstrates that adoption isn’t coming, rather that it has already arrived. Sony sees the move as an effort the firm is making to “stay ahead of the curve” and future-proof its operations. It has formed the view that diversifying payment options to include crypto payments is necessary in order to keep pace with what it perceives as a global shift towards the use and integration of crypto.  Ang sees upside for both companies as a consequence of the development. He stated: “This payment integration will not only benefit our users by giving them another way to utilise their crypto in the real world, but we believe adding a new and streamlined crypto payment method will also broaden [Sony Electronics Singapore’s] customer base.”  This development is not Sony’s first touchpoint with crypto and blockchain. In recent times, it has developed its own blockchain, Soneium. The Ethereum layer-2 network officially launched its mainnet in January. In 2024, Sony Group acquired Amber Japan, the Japanese subsidiary of Singaporean crypto market maker Amber Group. Last year, another Sony Group company, Sony Bank, announced plans to develop a stablecoin in partnership with Astar Network, a Polkadot-based smart contract platform.  Commenting on Sony’s participation within the crypto and blockchain space last year, independent game designer Chad Steingraber said, “Sony entering crypto is a MUCH bigger deal than people realize yet.” He predicted that the entire entertainment sector will become engulfed by crypto assets.  At the time, Steingraber was reacting to the news that Singaporean financial services firm Phillip Securities and Securitize were planning a security token offering in connection with a Sony movie production.

SkyArk Chronicles, a Singapore-based Triple-A gaming platform, recently announced the completion of a $15 million funding round that it suggested was led by Binance Labs, the venture arm of the leading global crypto platform. Binance has subsequently moved to clarify that it is not involved in the latest funding initiative.Photo by Laurin Steffens on UnsplashBacked by Binance since 2021The gaming ecosystem, which has enjoyed the backing of Binance since 2021, expressed excitement about the successful completion of the funding round. On Jan. 12, SkyArk posted on social media platform X, suggesting that Binance led the recent funding round but the project has since deleted that post. The post mentioned the participation of more than 40 institutions in the funding round, including Vividthree Productions, a Singapore-based company. It didn’t disclose the amount it claimed was invested by Binance Labs at that time. The announcement also highlighted contributions from other notable entities in the NFT and gaming space, such as GuildFi Global, Jambo Technology and BreederDAO. Additionally, individual investors like LayerZero CEO Bryan Pellegrino, Tangent Ventures Co-Founder Wangarian and Story Protocol CEO S.Y. Lee were all claimed by the project to have made noteworthy contributions to SkyArk's funding initiative. Binance Labs denialHowever, recent developments have introduced an element of uncertainty. Binance Labs, in an X post on Monday, distanced itself from SkyArk Chronicles' latest funding round. Contrary to the earlier announcement, Binance Labs clarified that it did not participate in SkyArk's $15 million funding round earlier this month. The venture arm reiterated its sole investment in SkyArk during the Incubation Season 3 program in 2021. This clarification from Binance Labs raised concerns about the accuracy of SkyArk Chronicles' earlier announcement, leading to SkyArk posting to confirm the information supplied by Binance. That post states: “We are very sorry for the miscommunication and appreciate the clarification from Binance Labs. We remain focused on making SkyArk a success and will continue working hard to achieve our vision.” Community reactionThe saga has caused some concern within the community, underscoring the need for transparency in the cryptocurrency and gaming industries. Web3 and NFT consultancy firm Vader Research commented on the development, stating:”SkyArk didn’t raise a new private round at all. They circulated the 2021 funding round announcement as if it recently occurred and used that to raise $11m from the public.” In a subsequent post, Vader added that Binance still has considerable leverage where SkyArk is concerned, as it retains the right to decide whether to list the SkyArk token on the platform. SkyArk Chronicles had a history of collaboration with Binance, dating back to 2021 when Binance selected SkyArk Studio for its prestigious Incubator Program Season 3. Out of over 1,000 applicants, SkyArk Studio was one of the nine teams chosen, emphasizing its potential in the blockchain and gaming space. In a follow-up post on Monday, SkyArk co-founder Kelvin Chua expressed his gratitude to Binance for its support over the past three years. The gaming platform, led by seasoned professionals in traditional mobile games, aspires to revolutionize the gaming sector worldwide. Their focus on launching Fully-On-Chain and Only-Assets-On-Chain games sets them apart, with a commitment to incorporating NFTs seamlessly into various gameplay styles.