Sygnum Bank Achieves In-Principle MPI Licence Approval in Singapore

Jump Trades to Top of NFT MarketplaceJump.trade, which is considered to be the largest NFT marketplace in Asia, has now emerged as the leading NFT marketplace on the Polygon Network, as per a recent report published by DappRadar. This new ranking has placed Jump.trade ahead of other popular NFT marketplaces like OpenSea, Decentraland, and OKX NFT marketplace, among others.©Unsplash/Andrey MetelevJump №1 on PolygonThe firm acknowledged the achievement on social media last week, thanking its community for making the accomplishment a reality. Kameshwaran Elangovan, Co-Founder and COO of Jump.trade, expressed his delight with the recent ranking and called it “an astounding statement of our team’s hard work and the enthusiasm of our community who keep our marketplace always buzzing.”While clearly an “unlocked achievement” as the company itself put it, it’s important to note that NFT marketplace development on the Polygon network has been much more recent. The bulk of NFT marketplace trading volume still occurs on blockchains such as Ethereum with NFT marketplaces OpenSea and upstart Blur dominating and accounting for 90% of NFT trade.First P2E cricket gameIt is worth noting that Jump.trade had introduced the world’s first P2E cricket game NFT collection last year, which consisted of 55,000 NFTs from the Meta Cricket League. Interestingly, this collection had sold out within a mere nine minutes, underlining the immense popularity and demand for NFTs. Jump.trade has also formed partnerships with various renowned brands such as Pepsi and Cadbury to make NFTs more accessible and develop a metaverse ecosystem where both brands and individuals can collaborate.Global ambitionsThe company has set its sights on becoming a major global player in the gaming NFTs market and is expected to benefit from the projected growth in the NFT market. This market is estimated to be worth $231 billion by 2030, with the gaming and sports industries anticipated to be the key drivers of NFT-related products.Jump.trade is a collaboration between Indian firm Appstars Applications and Singapore’s Guardian Blockchain Labs. As an emerging tech superpower, India has a robust technical infrastructure that can enable the NFT industry to penetrate even the remote areas of the country. However, a well-structured regulatory framework will be critical for faster adoption of NFTs and digital collectibles, and ownership will play a crucial role in taking India closer to achieving its goal of an $800 billion digital economy by 2030.Flipkart Labs partnershipJump.trade is also the platform for the upcoming RADDX Racing Metaverse NFTs, and it provides opportunities for brands to leverage Web3/gaming for branding. On Wednesday, Jump.trade announced its partnership with Flipkart Labs, the blockchain and NFT offshoot of Indian e-tailer Flipkart. Both companies are collaborating on the RADDX Web3 advertising innovation.Jump.trade CEO and Co-Founder Ramkumar Subramaniam said that “brands like Flipkart getting into metaverse advertising and Web3 marketing will serve as an encouragement and a beacon for a lot of brands to follow suit.” As part of the deal, Flipkart Labs bought Digital Lands, a digital land parcel within the RADDX Racing Metaverse.

South Korean entertainment production company Blade Entertainment has signed a memorandum of understanding (MOU) with Cardo, a firm specializing in custodial services for digital assets, to start a tokenized securities business, according to local news outlet Newspim on Wednesday. Blade Entertainment revealed plans to leverage its IP and content distribution rights to issue fractional investment-based tokenized securities based on underlying assets like waste landfills, electroceuticals and digital therapeutics.Photo by Verne Ho on UnsplashForging the future to tokenized securities"We will do our best to become a leader in tokenized securities by securing various underlying assets and building technology to facilitate valuation modeling for those assets," said Choi Young-in, head of the STO (security token offering) department at Blade Entertainment. "Through this agreement, we will cooperate in multiple ways with Cardo, who has expertise in blockchain and an understanding of financial products, to list our tokenized securities on the Korea Exchange’s (KRX) new securities market."  This market refers to an on-exchange market for new securities based on fractional investments that was recently designated by the South Korean Financial Services Commission (FSC) as a service under the financial regulatory sandbox system, according to a press release on Dec. 13.  The regulatory sandbox is a system run by the Korean government that exempts or suspends existing regulations for a designated amount of time for companies releasing new products and services and regulates them post-mortem if there is a problem.  Strategic collaborationBlade Entertainment said that it sought out Cardo – whose investors include one of South Korea’s major banks Nonghyup Bank – as a business partner to carry out this endeavor due to its accumulated knowledge and expertise in the blockchain sector. Cardo has also previously demonstrated its capabilities in the security token business by providing fintech solutions to financial service firm Galaxia Moneytree. "Currently, due to issues with the valuation of token securities, it is not easy for businesses in this area to operate smoothly, but we plan to issue and distribute tokenized securities of various assets soon," said Sohn Kyung-hwan, CEO of Cardo. "Based on the know-how we’ve accumulated from the two contracts we signed this year agreeing to supply security tokens platforms, we will actively help Blade Entertainment with the planning, design and platform construction of their security token venture to help establish a successful service."

The official token pre-sale for Bit of Mind – a project operated by Singapore-based DAO company investor K Stadium to launch a Web3-based AI mental health platform – sold out in nine hours on K Stadium's LaunchPad on Tuesday (KST), according to an official press release on K Stadium’s Medium page. Photo by Total Shape on UnsplashSupporting mental wellnessBit of Mind is an upcoming mobile decentralized application (dApp) that integrates AI and a combination of Web2 and Web3 technology to provide personalized mental health care services like journal writing, mood tracking, meditation and virtual counseling. In particular, it incorporates an incentivized token reward system where users can earn tokens by participating in the aforementioned self-care practices within the app. Fueling innovationA total of 45,000,000 Bit of Mind (BOM) tokens were available during the pre-sale, with 1 BOM worth 1 KSTA. KSTA is the native token that operates the K Stadium ecosystem. The early sell-out is a testament to the community's strong support and belief in Bit of Mind’s mission to redefine the standard of mental health care, the platform said. It also demonstrates investors’ strong support for and confidence in Bit of Mind's vision.  "Bit of Mind's LaunchPad is a testament to K Stadium's influence in identifying high-potential projects in the blockchain space. The funds raised will play an important role in advancing the development of Bit of Mind's ecosystem, including enhancing AI capabilities, expanding new features and providing opportunities for Web3 paradigm collaborations," K Stadium said. In the future, Bit of Mind is poised to venture into the metaverse as well, merging Web2 and Web3 paradigms and implementing picture-for-profile non-fungible tokens (PFP NFTs).