Animoca Indicates Fund Interest From Console Makers

Nibiru Chain, a layer-1 blockchain and smart contract ecosystem, is venturing into the Asian market with key appointments poised to drive growth in gaming, DeFi, NFTs and real-world assets (RWAs). Crypto sector expertiseYura Nam and Nicholas Lo have been appointed to lead growth and business development efforts in the region. Seoul, South Korea-based Nam is a former Head of StarkNet Asia. She has extensive experience hosting conferences, meetups and other events. The crypto sector professional has been an active member of the Korean blockchain community Nonce, a distributed network of independent businesses and individuals dedicated to blockchain. Lo previously served as Asia Pacific (APAC) Growth Manager at Yuga Labs, the creator of the Bored Apes Yacht Club NFTs.  Based in Hong Kong, he brings with him a diverse background, having worked as an analyst at JPMorgan and spearheaded Asia expansion for various exchanges. He has a wealth of expertise and insight into the Asian Web3 landscape.  Jonathan Chang, Nibiru Chain's COO, expressed excitement about the new additions to the team, highlighting their deep understanding of the Asian markets and Web3 ecosystem. He emphasized their role in fortifying Nibiru's foothold in the region, particularly through their proven track record in relationship building and execution of growth strategies.Photo by Shubham Dhage on UnsplashMultifaceted expansion strategyThe expansion strategy is multifaceted, incorporating marketing, community engagement and business development initiatives to establish a strong local presence and drive adoption. Nibiru's focus extends to key markets such as Korea, Japan, India, Southeast Asia (SEA) and Chinese-speaking countries. Plans include hiring local community leads and nurturing relationships with regional stakeholders and businesses. Nicholas Lo will concentrate on solidifying Nibiru's presence in pivotal APAC markets. His role at Nibiru involves cultivating relationships with major protocols, ecosystem dApps, gaming entities, financial institutions and local partners. Lo will also collaborate with Asian media outlets to enhance exposure for Nibiru's layer-1 offerings, targeting verticals spanning gaming, DeFi, NFTs and RWAs. Meanwhile Yura Nam will leverage her partnership and event planning experience to bolster the platform's expansion efforts. Her seven years in the financial services sector equip her with a nuanced understanding of partnerships, sponsorships and event management within Asia, serving to strengthen Nibiru's ties in the region. VC FundingThe company's ambitious growth plans received a significant boost with a successful $12 million funding round earlier this year, attracting investments from prominent venture capital firms such as Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital and Banter Capital. This funding follows a previous seed round in April 2023, which raised $8.5 million, valuing the project at $100 million at the time. In a further effort to bootstrap growth in April, the project announced $15 million in developer grants to incentivize ecosystem growth. $5 million of that is being ring-fenced for the Asian region. Silicon Valley-headquartered Nibiru Chain officially unveiled its public mainnet in March. With a focus on a robust smart contract ecosystem offering high throughput and top-tier security, the project aspires to position itself as the preferred platform for builders in several blockchain sectors, particularly blockchain-based gaming. At the time of writing, the project’s native NIBI token was trading at $0.2932, according to data from crypto project data aggregator CoinMarketCap.

Sony Network Invests $3.5M in Startale Labs to Drive Global Web3 AdoptionSony Network Communications, a prominent Japanese internet service provider, has made an investment of $3.5 million in Startale Labs, an innovative Web3 company based in Singapore. The primary objective of this collaboration is to establish an infrastructure that will promote the global adoption of Web3 technologies.Photo by Bastian Riccardi on UnsplashTelecom meets Web3Sony Network Communications, founded in 1995, offers high-speed fiber-optic broadband services and operates in various sectors of the telecommunications industry. The company is actively involved in advanced technology ventures such as the Internet of Things (IoT) and artificial intelligence (AI). Meanwhile, Startale Labs specializes in the Web3 domain, providing advisory services related to Web3, supporting the creation of layer 1 blockchains and applications, and collaborating with other entities to develop core Web3 functionalities.As part of this partnership, Jun Watanabe, the President and Representative Director of Sony Network Communications, will join Startale Labs as a director. He expressed his gratitude for the collaboration, emphasizing the deepening ties between Sony and Startale Labs. He highlighted the fruitful joint efforts already underway to advance Web3 technologies. Both companies share the objective of fostering an infrastructure that facilitates global Web3 adoption. Jun Watanabe said this initiative will lead to the emergence of revolutionary Web3 applications.Sota Watanabe, the CEO of Startale Labs, acknowledged Sony Group’s remarkable achievements across diverse industries such as gaming, entertainment, and financial services. He believes that Sony holds great potential in the Web3 sector, and Startale Labs is well-positioned to contribute its expertise and knowledge to this domain. With this partnership, Sota Watanabe envisions a collaborative effort that will not only foster the global Web3 infrastructure but also drive the creation of valuable and impactful Web3 applications.Sony’s Web3 expansionSony Group has been actively exploring opportunities in the Web3 field. Earlier this month, Sony Bank, another affiliate of Sony Group, partnered with Mitsui & Co. Digital Asset Management (MDM) to introduce MDM’s security token service, Alterna, to the Tokyo-based online bank’s customers. Through this collaboration, Sony Bank customers can invest in real-world assets, such as large-scale real estate properties, using security tokens provided by Alterna. This platform opens up investment avenues that were previously inaccessible to retail investors due to high capital requirements. Notably, the minimum investment requirement through Alterna is 100,000 yen.Government supportThere’s also been a positive move from the Japanese government for the Web3 and cryptocurrency industry. The Japanese National Tax Agency recently announced the revised corporate taxation rules pertaining to crypto assets. Under the new amendment, companies are exempt from taxes on unrealized gains from cryptocurrencies if the virtual assets were issued by the company and have been continuously held since issuance, or if they have remained subject to certain transfer restrictions since issuance.Startale Labs CEO Sota Watanabe welcomed this development on his Twitter account, stating that Web3 projects like Astar Network can now conduct business in Japan without moving their operations overseas. Meanwhile, he highlighted the importance of addressing the issue of corporate taxes on tokens issued by third parties in the future. He hoped for continuous engagement in constructive discussions with politicians and government agencies.

NEOPLY Receives Support from Abu Dhabi for Blockchain Expansion in UAENEOPLY, the open blockchain platform of South Korean investment holding company Neowiz Holdings, is set to receive support from the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE) through its Innovation Programme, which provides incentives to a wide range of businesses in financial services, technology, and other high-growth areas, according to a press release.Photo by Kamil Rogalinski on UnsplashFinancial & non-financial supportWith the assistance of ADIO, NEOPLY will establish its global headquarters, H-Lab, for blockchain businesses in the Abu Dhabi Global Market (ADGM). H-Lab will benefit from both financial and non-financial support, including incentives, fee exemptions, and regulatory advantages concerning cryptocurrencies and blockchains. Moreover, H-Lab intends to collaborate with local universities to develop education and scholarship programs focused on Web3 and decentralized finance (DeFi).Operations in MENANEOPLY’s inclusion in the Innovation Programme of ADIO demonstrates the competitiveness of the blockchain project, providing it with the opportunity to expand its operations in the Middle East and North Africa (MENA) region. By leveraging the support, infrastructure, and talented workforce available through ADGM, the company will forge partnerships with leading global firms residing in the capital of the UAE to enhance its global presence.Korean firms in Abu DhabiAbu Dhabi has been increasingly attracting Korean companies. ADIO, an affiliate of the Abu Dhabi Department of Economic Development, was established in 2019 as part of the country’s initiative to promote non-oil industries and draw in advanced technology companies. In 2021, ADIO opened an office in Seoul to support the entry of innovative Korean firms into the UAE. Thanks to these efforts, several Korean enterprises, including cloud operations services company Bespin Global, hospitality tech company H2O Hospitality, and smart farm operating group K-BTS Consortium, have established entities or expanded their operations in Abu Dhabi.DeFi regulatory frameworkNEOPLY’s H-Lab will collaborate with ADGM to facilitate its development of a regulatory framework for DeFi, aspiring to become one of the world’s first regulated DeFi providers. The NEOPIN protocol, a centralized decentralized finance (CeDeFi) platform developed by NEOPLY, will work closely with ADGM’s Financial Services Regulatory Authority (FSRA) to establish an efficient and effective regulatory framework.Abdulla Abdul Aziz Al Shamsi, Acting Director General of ADIO, said, “Abu Dhabi’s enabling environment, coupled with the availability of world-class infrastructure and skilled talent, has positioned the UAE capital as a leading destination for investment in the Middle East. NEOPLY joins a wave of other innovative South Korean companies choosing Abu Dhabi as the catalyst for their next growth phase. They are joining a thriving innovation ecosystem and bringing new ideas and solutions to life in the UAE capital.”NEOPLY CEO Park Jin-ho stated, “With ADIO’s support, we are establishing our global headquarter in the heart of Abu Dhabi, which fills us with great anticipation for our financial innovation in the Middle East. With the active support of ADIO, the collaboration with ADGM, and the infrastructure of Abu Dhabi, we are committed to setting new standards in the global blockchain industry.”