Korea’s Changwon City Boosts Local Art Scene with NFTs

OKX Ventures Invests in Data Bridging ProtocolOKX Ventures, the investment branch of the Seychelles-headquartered cryptocurrency exchange OKX, has made a strategic investment in Singapore’s 0xScope.Knowledge graph protocolIn a press release published by GlobeNewswire on Thursday, details of the deal between the venture investor and the data intelligence platform were laid out. 0xScope has carved out a unique niche by offering a knowledge graph protocol tailored for both Web2 and Web3 data, catering to a diverse audience, including developers, traders, and blockchain protocols.At the forefront of the startup’s offering is Scopescan, a blockchain analytics platform that harnesses the potential of the firm’s knowledge graph. Scopescan provides comprehensive data on over 84 million addresses, 600,000 tokens, 1.4 million labeled addresses, and millions of exchange wallets. The platform empowers users to track and analyze on-chain activities across various blockchain networks, a vital feature for the continued growth of the Web3 ecosystem.Dora Yue, the Founder of OKX Ventures, emphasized the crucial role of data in Web3’s three core technological pillars: cross-chain integration, decentralized storage, and privacy computing. Through its knowledge graph technology, 0xScope has made strides in advancing these areas. The collaboration between OKX Ventures and 0xScope has the potential to accelerate the development of Web3.Photo by Conny Schneider on UnsplashUndisclosed investment sumWhile the exact investment amount remains undisclosed, the deal signifies OKX Ventures’ interest in supporting 0xScope’s mission of decentralizing and democratizing Web2 and Web3 data sources. Together, they aspire to create an open-source environment that facilitates seamless uploading, downloading, validation, and processing of data within the Web3 realm.OKX Ventures, as the investment arm of OKX, boasts an initial capital pool of $100 million. It actively explores promising blockchain projects worldwide and champions innovative technology solutions. The collaboration with 0xScope aligns perfectly with their mission to drive innovation and progress in the blockchain and crypto sectors.Moonbox investmentIn addition to its investment in 0xScope, OKX Ventures recently allocated $1 million to Moonbox, a Hong Kong-based startup focused on artificial intelligence and Web3 technologies. This strategic move reinforces OKX Ventures’ dedication to nurturing cutting-edge technologies and further solidifies its presence in the blockchain and crypto space.Meanwhile, 0xScope is on a mission to democratize and decentralize connectivity in Web2 and Web3 data. Their unique ability to track all associated addresses of an entity offers what the firm believes to be unparalleled insights into user behavior across different addresses and blockchain networks. This capability positions it at the forefront of the Web3 data revolution.With their combined expertise and resources, the two companies are set to drive innovation, foster inclusivity, and empower users in the evolving Web3 ecosystem. Uplifted in having secured the deal, the 0xScope team took to X (formerly Twitter), stating:“Looking forward to collaborating and contributing to the growth of the OKX ecosystem. Together, let’s drive innovation and empower the future of decentralized finance!”With 0xScope gearing up to introduce new features in the fourth quarter of 2023, there’s likely to be more news to follow from the Singaporean startup relative to the future development of Web3 data.

BlackRock Investment Marks its Return to IndiaBlackRock, the world’s largest money manager with $9.4 trillion in assets under management, has made a significant move by joining forces with the financial services arm of Indian tycoon Mukesh Ambani.This strategic partnership aims to tap into India’s rapidly growing asset management market and marks BlackRock’s return to the country following a six-year absence.The collaboration between BlackRock and Jio Financial Services, a company built by Reliance Industries Limited, will establish a 50–50 joint venture called Jio BlackRock. BlackRock announced the collaboration via a statement published to its website on Wednesday.Photo by Naveed Ahmed on Unsplash$300 million investmentBoth companies plan to invest up to $150 million each in this venture. Larry Fink, BlackRock’s Chairman and CEO, articulated his satisfaction regarding the partnership in a LinkedIn post, emphasizing the significance of expanding BlackRock’s presence in India.Mukesh Ambani, the Founder and Chairman of Reliance Industries, is India’s richest man with a net worth believed to be in the region of $90.6 billion. The conglomerate is the country’s largest listed company by market share. Collaborating with BlackRock will likely strengthen its position in the financial services sector.The joint venture aims to leverage BlackRock’s expertise in investment and risk management, combined with Jio Financial Services’ technological capabilities and deep market knowledge. The objective will be to provide “tech-enabled access to affordable, innovative investment solutions” for Indian investors. With rising affluence, favorable demographics, and the ongoing digital transformation across industries in India, the market is undergoing a significant shift.Potential implications for cryptoThis move comes shortly after Jio Financial Services was spun off from its parent company, Reliance Industries. The digital-first service is focused on delivering innovative investment solutions to cater to the growing needs of Indian investors.While there’s absolutely no mention of crypto relative to this announcement, it may still have implications for crypto in India. BlackRock has progressed from taking a dim view of Bitcoin and crypto to now turning towards this new asset class. It recently filed an application to launch a bitcoin exchange-traded fund (ETF) in the United States. That move is considered highly significant by most market commentators.Given that Jio Financial takes a digital-first approach and that the idea of the partnership is to bring the latest financial products to retail customers in India, there’s potential for this new entity to bring digital asset-related products to that market.Indian market re-entryBlackRock’s re-entry into India’s asset management industry is not the first attempt by the US investment management firm. In 2018, BlackRock exited the Indian market by selling its 40% stake in an asset management venture to partner DSP Group, but the company recognizes the enormous potential that India presents.Over the past five years, assets under management of Indian mutual funds have doubled, reaching 44.39 trillion rupees ($542 billion) by June this year. The exponential growth in this sector highlights the immense opportunities India offers to global asset managers like BlackRock.While the launch of the joint venture is subject to closing conditions and regulatory approvals, the collaboration between BlackRock and Jio Financial Services appears to be poised to unlock the power of investing for millions of people in India.

UAE’s Royal Office Visits Korea to Further Security Token Collaboration with AIITONEAIITONE, a Korea-based augmented reality firm specializing in security tokens, invited journalists to showcase its strategy to foster business collaborations between South Korea and the United Arab Emirates (UAE) on the occasion of the Korean visit of the Private Office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi.Photo by Ethan Brooke on UnsplashPrivate Office’s return visitThe Private Office is a Dubai-based corporate conglomerate that operates businesses in various areas including real estate, energy, and finance. This visit by the Private Office marks a return visit following AIITONE’s visit to the UAE in July.The conference took place at a hotel in Gangnam, Seoul, and was attended by Lee Jin-yeop, CEO of AIITONE; Bruce Jeong, Chairman of Middle East Investment; and H.H. Sheikh Ahmed Bin Faisal Al Qassimi.Security tokens, CBDCs, smart defenseChairman Jeong, leading AIITONE’s global initiatives, said that their primary endeavor is to set up a Korean branch of the Royal Office. This branch will function as an international business hub, facilitating collaborations across three key sectors: security tokens, central bank digital currencies (CBDCs), and smart defense ventures.The event also featured presentations by AIITONE officials who introduced the company’s focus areas.Kang Man-soo, who leads AIITONE’s defense unit, highlighted the company’s technical expertise in maintenance training equipment, interactive electronic technical manuals, and integrated system support. He pointed out that AIITONE has been actively involved in the development of technical manuals and training simulators for various defense assets, including warships, guided weapons, and fighter aircraft. Kang emphasized that AIITONE’s strategic partnerships with Korean defense firms have propelled their engagement in initiatives aimed at exporting these products to countries such as Indonesia, Malaysia, and Poland.Lee Joo-hyung, the head of AIITONE’s extended reality (XR) content division, revealed the company’s plan to create portable products that can replicate the physical sensations of the real world, including sensations like physical contact and heat. Additionally, Lee introduced MOUM, a metaverse platform that features blockchain-powered security functions and generative artificial intelligence (AI) capabilities.Park Sang-il, who is at the helm of the firm’s security token project, showcased AIITONE’s comprehensive security token platform, which enables users to both issue and distribute security tokens. Notably, the platform is compatible with hyperledgers Besu and Fabric.Since arriving in Korea last Wednesday, the Royal Office has met with representatives from Standard Chartered Bank Korea and lawyers from law firm Kim and Chang, as well as lawmaker Yang Hyang-ja. Additionally, the Royal Office made a visit to smart farms located in South Jeolla Province.H.H. Sheikh Al Qassimi expressed a high regard for South Korea, acknowledging its beautiful natural landscapes and significant economic development. He underlined that this visit serves as an opportunity for the Royal Office to strengthen cooperation between UAE companies and their Korean counterparts, further fostering economic exchanges between the two countries.