Wemade Unveils Blockchain-Powered Platform for Various Communities

Night Crows, a massive multiplayer online role-playing game (MMORPG) set in 13th-century Europe with play-to-earn (P2E) features, is set to launch next month. This global release will be available in nine languages across 170 countries, except for South Korea and China, according to a recent press release by its South Korean operator, the blockchain game company Wemade.European history with fictionDeveloped by MADNGINE, Night Crows harnesses the power of Unreal Engine 5 to deliver highly realistic battles. The game merges elements of European history with fiction, creating a unique universe for players to explore. Within this universe, players can select from four classes and eight subclasses for their characters. Thanks to its inter-server technology, Night Crows enables over 1,000 players from three servers to combat against each other in the "Battlefront," as well as collaborate and trade at the "World Exchange."Photo by Nik Shuliahin 💛💙 on UnsplashBlockchain-based economyThe March 12 worldwide launch of Night Crows incorporates the Multi Utility Token Economy (MUTE) within Wemade’s WEMIX 3.0 blockchain network. In this economy, users can complete requests to earn DIA, an in-game resource that can be used to mint Crow. The Crow token will serve as the base token for the game and will be supported on WEMIX Play’s GameFi platform. Last month, Night Crows kicked off its pre-registration campaign to attract gamers from around the globe. The game will be available for pre-download on March 11 via Google Play, the Apple App Store and the web.P2E games banned in KoreaNight Crows first made its debut in South Korea last April, where it quickly captured the interest of Korean gamers. However, the version released in Korea differs from the one planned for the global launch, as it lacks a blockchain-based economy. This absence is in line with the Game Industry Promotion Act in Korea, which prohibits the conversion of in-game resources, whether tangible or intangible, into money.

Binance Introduces Dedicated Trading Platform in JapanGlobal cryptocurrency exchange Binance made an announcement on Friday regarding its plans to establish a new trading platform exclusively for residents of Japan.The move is in compliance with Japanese laws and regulations, and a demonstration of the company coming into line with Japan’s legal and regulatory framework relative to crypto assets and crypto asset trading. While specific details such as the platform’s launch date are yet to be disclosed, Binance has assured its Japanese customers that this information will be provided in the near future.Photo by Bagus Pangestu on PexelsPlatform transitionIn terms of scheduling, we do know that a new know your customer (KYC) verification process will be available after August 1, to migrate to the new local platform for existing Japanese users on the global platform. As part of the transition process, Binance will be sending out information to Japanese residents who currently utilize their global trading platform. This communication will include instructions on procedures including further information on identity verification.To facilitate a smooth transition, Binance’s global trading platform will cease providing services to Japanese residents on November 30, 2023. Additionally, there are plans to change the company name from Sakura Exchange Bitcoin to “Binance Japan Co., Ltd.”This development marks Binance’s initial foray into the Japanese market firmly under its own brand. In November 2022, the company entered the country by acquiring Sakura Exchange Bitcoin (SEBC). The forthcoming trading platform, dedicated exclusively to domestic residents, represents the first step in Binance’s strategic approach to the Japanese market.The new services on the platform are set to launch during the summer, with future expansion plans to broaden that offering further. Binance also intends to introduce initiatives in Japan that leverage its ecosystem, including the provision of free educational resources through “Binance Academy” to promote Web3 education.Service offeringThe newly created entity will offer crypto spot trading with fiat deposit and withdrawal facility to its Japanese customers. Crypto lending products will be provided through a digital asset earn program. For those who like to dollar cost average (DCA), an automated recurring purchase feature will be provided.In 2021, Binance introduced an NFT marketplace and that will be a service that it will also extend to its Japanese customers. Upon launch of the dedicated service, crypto derivative trading will not be offered although it is understood that it may be offered at a later stage. Derivatives are likely to be under much closer scrutiny by the Japanese regulator than Binance’s other products.It is worth noting that Binance had previously received a warning from the Financial Services Agency (FSA) for offering cryptocurrency trading services to Japanese residents without proper registration. With its full-fledged entry into the Japanese market, it remains to be seen what impact this move will have. Will it accelerate the regulatory landscape and the adoption of Web3 technology in Japan from a global perspective?Additionally, how smoothly will Binance be able to acquire new accounts while competing with domestic business operators? These developments warrant close attention as they unfold.

Malaysia Ushering in Fifth Digital Asset ExchangeKuala Lumpur-headquartered crypto platform Hata has become the latest entrant in the local digital asset exchange (DAX) business, securing licensing and regulation from the Securities Commission Malaysia (SC).The brainchild of David Low, former Asia Pacific General Manager at Luno, Hata Digital Sdn Bhd, is now the recipient of conditional approval from the SC, enabling it to facilitate cryptocurrency trading once it fulfills the regulator’s stipulated requirements over the next six to nine months. The firm now joins Luno Malaysia, MX Global, Sinegy DAX, and Tokenize Technology to become the fifth regulated DAX to trade within the Southeast Asian country.Photo by Esmonde Yong on UnsplashFirst digital brokerOne interesting aspect of Hata’s approval is that it also marks the first DAX to receive digital broker status from the SC. This unique status allows Hata to display trade orders from other exchanges on its website or mobile application, giving users access to a broader spectrum of trading opportunities.Hata can match its users’ trades with those available on other exchanges or provide them with cryptocurrency prices from these exchanges. However, it is essential that the exchanges Hata collaborates with are licensed by authorities in “competent jurisdictions,” such as the Monetary Authority of Singapore (MAS), and gain approval from the SC.Low shared his vision, stating:“With the goal of challenging the existing norms, we plan to make digital assets investing easier for institutional investors, businesses, and high-net-worth individuals in Malaysia. And we look forward to launching the platform soon.”Luno competitorLow’s departure from Luno adds an intriguing dynamic to Malaysia’s digital asset industry, given his pivotal role in expanding Luno’s presence in Malaysia and Southeast Asia. At the time of his departure, Luno was widely acknowledged to have commanded over 90% of the local cryptocurrency trading market share, with some estimating it as high as 98%.Low is now stepping into the realm of competition with his former colleagues and company, where he had previously invested significant effort and resources to foster growth.Hata boasts two other Co-Founders, Darien Ng, Chief Revenue Officer, and Chong Kwai Kun, Chief Technology Officer, both with extensive expertise in blockchain technology and software development in Malaysia since 2018.Low stated that the “SC’s decision to grant us conditional approval to operate a DAX represents a vote of confidence in us and the digital asset industry. This is a significant milestone for my team and I at Hata, after months of extensive efforts.”One-stop crypto platformHe continued: “Hata wants to enable safe and effortless cryptocurrency access and we look forward to being a one-stop and reliable platform for our customers, with our suite of products and services.”Low emphasized their goal of challenging existing norms, making digital asset investing more accessible to institutional investors, businesses, and high-net-worth individuals in Malaysia.The exchange’s founder also commended the SC’s efforts in expanding the regulated market operator framework to allow DAXs to operate as digital brokers. In addition, Hata has obtained a money broker license from the Labuan Financial Services Authority, reinforcing its efforts to operate as a compliant and secure platform.