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DDC Enterprise, a Chinese company headquartered in Hong Kong and listed on the New York Stock Exchange (NYSE), has become the latest corporation to add Bitcoin (BTC) to its balance sheet.Photo by Michael Förtsch on UnsplashInitial 21 BTC purchaseThe plant-based food products company which operates under the “DayDayCook” brand published a press release via Business Wire last Friday announcing its first Bitcoin purchase. It’s likely that there was a symbolic element to the firm’s first Bitcoin purchase, given that it bought 21 BTC while Bitcoin has a supply cap of 21 million BTC. The company completed the transaction via share exchange with an investor group, issuing 254,333 class A ordinary shares while acquiring the 21 BTC at a market price of $2,283,667. DDC outlined that it plans to make two further purchases over the coming days of 79 BTC, at which point the firm’s corporate treasury will hold 100 BTC. Targeting 5,000 BTCThe company has a much more ambitious Bitcoin accumulation plan, however. Over the course of the next three years, it is targeting the establishment of a Bitcoin treasury holding 5,000 BTC. At current market pricing, that would amount to a Bitcoin treasury of around half a billion dollars in value. In the near term, the firm is targeting the acquisition of 500 BTC by the end of this year. DDC Founder and CEO Norma Chu described the development as a “pivotal moment” in the company’s evolution. She said that this plan reflects DDC’s “confidence in Bitcoin as a store of value,” while demonstrating the firm’s interest in pursuing innovation. “We are fully committed to ensuring the success of this strategy, which aligns with our vision to drive long-term value for our shareholders,” she added. Web3 innovationAccording to a DDC website, the company has innovative plans that go beyond just a Bitcoin treasury. It plans to deepen community engagement through the use of NFT loyalty programs and immersive Web3 experiences. It also plans to leverage blockchain transparency in its efforts to build greater community engagement. The website sets out a vision whereby DDC can blend its culinary heritage with next-generation technologies.  The company suggests that real-world asset (RWA) tokenization has the potential to revolutionize consumer engagement, while offering the possibility of enabling fractional ownership of product lines. It has set out a roadmap where it outlines having established a digital platform in 2012, going on to engage in content creation and content commerce over the course of a decade.  The firm carried out an initial public offering (IPO) in 2023 and from 2025 onwards, aside from its Bitcoin treasury strategy, it plans to integrate RWA tokenization and Web3 technology into its business, while also adopting AI technologies to enhance supply chain efficiency. DDC is one of a growing list of corporations to adopt Bitcoin as a strategic asset over the course of the past 18 months. Earlier this month, another Chinese company, Nasdaq-listed Jiuzi Holdings, an electric vehicle (EV) retailer, announced that it had adopted a plan to acquire 1,000 BTC. Hong Kong-listed game developer Boyaa Interactive holds 3,350 BTC.

Korean Drama Studio Unveils Web3-Based Project Featuring BTS UniverseChorokbaem (CRB) Media, a renowned South Korean drama production studio, has revealed an innovative content distribution project based on Web3 technology, featuring the popular BTS universe, as reported by the Maeil Business Newspaper.Photo by Shubham’s Web3 on UnsplashBTS Universe-based dramaCRB Media announced on Monday its participation in Paris Expo Porte de Versailles, where it showcased a minute-long teaser of “YOUTH,” a drama that centers around the universe of K-pop sensation BTS. This new initiative by the Korean production studio aims to transcend the limitations of existing online streaming platforms.The Most Beautiful Moment in LifeThe production of “YOUTH” has been in the works since 2020 and revolves around the story that goes back to BTS’s 2015 album, “The Most Beautiful Moment in Life.” The BTS Universe has already seen successful adaptations across various entertainment platforms, including novels, webtoons, and short films.Web3 fan engagementAn official from CRB Media said that Web3 technology allows network participants to be both content consumers and providers, enabling fans who were previously passive consumers to monetize their engagement and foster an even more vibrant independent fandom culture.24 episodes starting in 2HThe drama series “YOUTH” comprises a total of 24 episodes, with one or two episodes set to be released weekly starting in the second half of this year.The series is directed by Kim Jae-hong, known for his work on “Beloved Eun-dong” and “Steal Heart,” and written by Kim Soo-jin, the talented screenwriter behind notable productions such as “Dazzling,” “Weightlifting Fairy Kim Bok-joo,” and “Songgot: The Piercer,” among others.CRB Media’s legal issuesMeanwhile, it’s been reported that the Seoul Southern District Prosecutors’ Office’s Financial Investigation Division 2 executed a search and seizure operation on CRB Media last week. The raid was conducted after the prosecution obtained circumstantial evidence indicating the studio’s potential role in an embezzlement scandal. The case involves Kang Jong-hyun, who stands accused of misappropriating a colossal sum of 62.8 billion KRW ($46.9 million) from affiliates of Bithumb, a major Korean cryptocurrency exchange. Kang is currently under suspicion as the clandestine owner of the exchange.

CarrieVerse joins Dubai’s DMCC as metaverse service providerWeb3 metaverse platform CarrieVerse has joined the Dubai Multi Commodities Centre (DMCC), the UAE’s largest free-trade zone for a wide array of companies including those in the blockchain and crypto industry. Last month, CarrieVerse received final approval to establish a local subsidiary there, which will serve as a hub to expand its global Web3 ecosystem, particularly in the Middle East and North Africa (MENA) region.Photo by ZQ Lee on UnsplashAn ever-growing business hub“DMCC has recently risen as a hub for Web3 companies and investors that is actively supported by the Dubai government and the royal family. As the first Korean Web3 company to officially partner with DMCC, we expect that CarrieVerse will grow into a global company here,” said David Yoon, CEO of CarrieVerse.DMCC is a UAE government agency located in the Jumeirah Lakes Towers district of Dubai and is currently led by Executive Chairman and CEO Ahmed Bin Sulayem. It is home to more than 23,000 companies ranging from startups to large corporations and has been named Global Free Zone of the Year by the Financial Times’ FDI Magazine for nine consecutive years since 2015.Notably, the zone also has a Crypto Centre for blockchain and crypto businesses, including big names like Binance and Bybit. It has been supporting companies by providing funding, incubation, peer-to-peer matching and opportunities for collaboration.According to Zaher El Orm, the Crypto Centre Executive at DMCC, the Crypto Centre also supports businesses in their pursuit of crypto licenses for business activities and regulated virtual assets activities. These include blockchain as a service, metaverse service provider, crypto proprietary trading and crypto mining activities. CarrieVerse revealed that it has officially obtained a license as a metaverse service provider.Promising outlook for CVTXDMCC is now an official partner of CVTX, the platform’s governance token, which is expected to boost the token’s momentum on global exchanges. It has recently been listed on the Singapore-based digital asset exchange BingX. This will further help the platform secure partnerships with more than 1,000 leading global Web3 companies at DMCC.CarrieVerse and DMCC stated that they plan to reveal the roadmap of their partnership in the future.