Netmarble’s Blockchain Platform Plans Tokenomics Overhaul for MBX Token

Leading crypto exchange platform OKX has recently unveiled its plans to enhance its marketplace by incorporating Atomicals (ARC-20), Runes, Stamps (SRC-20) and Dogecoin’s Doginals (DRC-20) into its Web3 wallet. ‘First-to-market’ initiativeTaking to social media on Monday, the firm provided further details regarding the additions, outlining that it is part of a "first-to-market" initiative, solidifying OKX's commitment to the expanding realm of Bitcoin NFTs. The integration of these token standards is aimed at positioning OKX as a leading one-stop NFT ecosystem within Web3. Starting with the integration of Stamps on Feb. 5, OKX Wallet users will gain the ability to view and transfer Bitcoin token standards. Subsequently, in late February, OKX Wallet will extend its support to Atomicals, Doginals and Runes, enabling millions of users to engage in buying and selling these NFTs without incurring any trading fees. OKX Marketplace will also follow suit, integrating DRC-20, ARC-20 and Runes standards in late February, thus broadening the scope for users to participate in zero-fee trading.Photo by Shubham's Web3 on UnsplashDriving mainstream adoption of Web3Jason Lau, chief innovation officer at OKX, underscored the platform's dedication to driving mainstream adoption of Web3 technologies, making the exploration and realization of NFT potential more accessible for users. Despite concerns about potential blockchain congestion due to NFTs, Lau characterized these challenges as "growing pains," expressing confidence that they will be addressed over time. Lau told CoinDesk that “these things will last forever, as long as the chain lasts.” Emphasizing the surge in activity and user growth since the launch of their product, Lau positioned OKX as an evolving platform at the forefront of developing tools for users to access all of Web3. OKX Wallet's inscriptions tool presently supports minting on 23 networks, including Bitcoin, Dogecoin, Ethereum, Polygon, BNB Chain, Avalanche-C and Arbitrum One, among others. Boosting OKX MarketplaceThe move aims to establish OKX Marketplace as the largest NFT marketplace in the industry, boasting zero-fee trading across an expanding range of token standards. The platform's advanced NFT offering includes features such as hex error checking, liquidity across multiple standards, bulk minting capabilities and automatic error detection. Despite OKX's open embrace of Ordinals and other Bitcoin protocols, some members of the Bitcoin ecosystem express discontent, labeling Ordinals as digital spam. Jason Lau vehemently disagrees, asserting that in open and permissionless networks like Bitcoin, "there is no such thing as spam." He contends that as long as fees are paid and transactions adhere to consensus rules, they are valid. Lau emphasizes OKX's historical support for the Bitcoin ecosystem, including upgrades like SegWit, Taproot and Lightning. As debates surrounding the role of Ordinals and NFTs within the Bitcoin ecosystem persist, OKX's proactive stance signals a belief in the potential of Bitcoin-based NFTs to introduce innovative use cases and design possibilities. The disruptions experienced by various blockchains in December, attributed to increased transaction activity related to inscriptions, underscore the growing impact of these developments within the Bitcoin ecosystem and the broader crypto landscape. 

Hata Digital Sdn Bhd, the fifth licensed crypto exchange in Malaysia, has raised $4.2 million in a seed financing round. That’s according to a press release published by Cointelegraph on Oct. 22 on behalf of the company. The round was led by two blockchain and crypto-centric U.S.-based venture capital firms, Castle Island Ventures and Cadenza Ventures. Commenting on the development, Castle Island’s Nic Carter took to X, stating:”Excited to be coleading the seed for @hataglobal and joining the board. SE Asia is the #1 most active region for crypto adoption and we are pumped to see Hata build for the Malaysian market and beyond.” In further comments included within the press release, Carter complemented Malaysia and the overarching Southeast Asian region as being at the heart of blockchain adoption:“Malaysia and the broader SE Asia region is the global epicenter of blockchain adoption and we are excited to support the talented team at Hata in their support of this market. We believe Hata is well-positioned to win due to their differentiated product focus and regulatory approach.”  Photo by Vlad Shapochnikov on UnsplashAsian expansionThe company has said that it will use the funds in its efforts to expand its product offering and expand within the Asian region through the acquisition of more users. Reflecting upon the investment, Hata CEO David Low said that the company is “committed to creating a robust platform that empowers users in Malaysia and in the Asia region to navigate the digital asset market with confidence.” Other participating investors included Silicon Valley’s Plug and Play Tech Center, Singapore’s AP Capital, crypto accelerator Alliance.xyz and global crypto exchange Bybit. Bybit’s investment into Hata is not its first touch point with Malaysia as earlier this year the exchange business relocated some of its Chinese employees to the Southeast Asian nation.The other lead investor, Cadenza, is headed up by Max Shapiro alongside Kumar Dandapani. Shapiro gave his own take on Hata, stating:“We believe that Hata’s innovative approach and commitment to user engagement will drive the next wave of growth in Malaysia’s digital asset market. We are looking forward to working closely with the team as they navigate this evolving landscape.”  U.S. dollar trading pairsIn 2023 Hata received in-principle approval from the Securities Commission Malaysia (SCM), a local regulator. Earlier this year, it went one further and secured full approval from the regulator. The exchange relies upon offering trading pairs between crypto assets and the U.S. dollar. The platform currently supports in excess of 40 trading pairs.  In addition to the trading license it has acquired from SCM, Hata has also been licensed by the Labuan Financial Services Authority, the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre. The Malaysian startup was established by three co-founders, one of them being a former executive at Luno, the crypto investment platform that operates across Africa, Southeast Asia and Europe. The exchange operates an affiliate program that enables platform users to participate in revenue sharing.

Seychelles-incorporated crypto exchange platform Bitget recently released findings from a study on Bitcoin's upcoming halving, revealing that the vast majority of surveyed investors predict bitcoin will achieve a new all-time high (ATH) in 2024. Separately, other market commentators and analysts appear to be bullish on bitcoin ahead of the scheduled cut in Bitcoin mining rewards.Photo by Kanchanara on Unsplash84% anticipate new bitcoin ATHThe study, based on anonymized data from 9,748 participants worldwide, focused on investor perceptions surrounding the halving's impact on their investment decisions. 84% of participants anticipate a new ATH for bitcoin during the next bull run, with only East Europe showing a percentage lower than 80%. Over 50% predict bitcoin's price to be between $30,000 and $60,000 by the time the halving occurs in April. Meanwhile, 30% foresee the bitcoin unit price going higher than $60,000. Off the back of the data that has arisen via the study, Bitget managing director Gracy Chen suggested that it is indicative that 2024 will be a significant year for the bitcoin market. Crypto investment plansApproximately 70% express plans to increase their crypto investments, with the highest conviction in the Middle East and North Africa (MENA) and East Europe regions. Western European investors are characterized as "short-term cautious" and "long-term optimistic." In addition to the Bitget study, many market commentators appear to have arrived at a similar conclusion. In July of last year, Standard Chartered Bank forecasted a 2024 unit price for bitcoin of $120,000. The bank reaffirmed that view last month, going further still in stating that by 2025, it expected bitcoin to reach a price of $200,000, largely due to capital inflows into spot bitcoin exchange-traded funds (ETFs), which were approved in the United States in January. Broader market sentimentTaking to social media on Monday, crypto analyst Charles Edwards of Capriole Investments proposed a potential 500% price return for bitcoin if a bullish halving pattern plays out. Edwards envisions bitcoin reaching $280,000 in 2025. Like Standard Chartered, he cites the January bitcoin ETF launch as the driving force, likening it to a "second halving." He argues that major technological developments have historically seen quicker rates of adoption. Crypto trading analyst Michaël van de Poppe predicts a pre-halving surge to $48,000 and an eventual breakout toward an all-time high in Q3/Q4 of 2024. The next Bitcoin halving is expected in April 2024, historically associated with increased scarcity and subsequent price surges. Pseudonymous macroeconomist @Micro2Macr0 took to the X social media platform on Monday, stating:"Only 2.5 months till the #Bitcoin #Halving. The world is getting more unstable and you have the greatest hedge ever invented sitting in front of you. What are you waiting for?"  Meanwhile, "British HODL" warned that recent developments may result in a break from previous trading patterns. He stated:"Everyone says 12 months after the halving the shock starts for #Bitcoin price. . . . I think there is a high likelihood that the ETF’s change the cycle you’re expecting. Be aware of that.”