Japan's Monex acquires majority stake in Canadian crypto firm

South Korean Web3 and metaverse game developer OneUniverse announced today that the Champions Mystic Box NFT collection for its Web3 role-playing game (RPG) Champions Arena has sold out in just an hour, according to local news outlet GameTOC on Wednesday (KST), making it the game’s second NFT collection to be completely sold out. Photo by Jack B on UnsplashUnveiling the Champions Mystic BoxA subject of high anticipation among gamers, the Champions Mystic Box includes the game's highest-tiered NFT as well as a new Champion that was revealed for the first time. It also includes an aid with a one-year time limit that was leveraged for driving user response, according to OneUniverse. Prior to the NFT pre-sale, Choi Hwan-jin, the new producer-director (PD) of Champions Arena, held an Ask-Me-Anything (AMA) session with the gaming platform Gala Games to discuss the RPG's updates and improvements, which also contributed to a successful pre-sale. "We are delighted that the first NFT pre-sale after the game’s PD transition sold out so quickly," said Se-jun Go, CEO of OneUniverse. "We will continue to deliver on the game improvement plans we promised our users before the transition and strive to meet their expectations." Diving into the realms of Champions ArenaChampions Arena launched worldwide in August last year and has since then gained popularity for its real-time tactical battles where gamers can collect over 100 adaptable and customizable NFT Champions and various other in-game items. Players can also battle solo or in guilds.  The game is currently available for download on both PC and mobile on the Google Play Store, Apple App Store and Gala Games platform.

Wiziin Earmarks $500K Pre-Seed Funding for Blockchain InvestmentWiziin, a Vietnamese startup specializing in venture investment management, has secured $500,000 in pre-seed funding, which it plans to use to accelerate its efforts in blockchain technology investment.Photo by Peter Nguyen on UnsplashBroad networkAt the heart of Wiziin’s primary objective — to bridge the divide between investors and founders — lies the firm’s blockchain-based platform. The Wiziin platform is specifically tailored to venture investors with a focus on digital assets.Wiziin is headed up by venture capitalist Tien Nguyen and serial entrepreneur Thong Dang. The firm was established in 2020, with a view towards playing a part in what it foresees as a revolution in investment dynamics, particularly within the Asia Pacific (APAC) region. The company’s network encompasses more than 200 investors and an array of over 5,000 raised-fund companies. The company believes that this positions it to become a transformative force in the investment landscape within the region.“The established norms of venture capital funding have long followed conventional methodologies,” commented Thong Dang, Wiziin Co-Founder. “This infusion of funding serves as a catalyst for our ongoing endeavors in emerging blockchain technology, with the ultimate aim of disrupting and revolutionizing the industry. Tokenization of assets and the integration of smart contracts will form the bedrock of our innovative approach to venture capital,” he added.Homerun.clubCentral to Wiziin’s trajectory is the development of an investment platform named “Homerun.club.” This platform is engineered to foster co-investment experiences within blockchain ecosystems for individual investors.Through the elimination of intermediaries, Wiziin is striving to democratize funding access, unleashing global empowerment for entrepreneurs and inviting a more diverse spectrum of investors.The universality of blockchain technology shatters geographical limitations, enabling start-ups like Wiziin to bring investors and entrepreneurs together from every corner of the globe. This holds profound potential for startups and investors situated in expanding markets, and markets that have historically been underserved by conventional approaches to venture capital funding and investment.“While our platform operates within a decentralized framework, the importance of user verification cannot be understated, serving as both a regulatory compliance measure and a safeguard for investor interests,” elaborated Thong Dang.Dang added: “In tandem, we’re actively seeking institutional funding in the upcoming months to further fortify the platform. This strategic step will usher in a collaborative fundraising endeavor between our project and its vibrant community, fostering mutual growth and resounding success.”DAOs and start-up fundingWiziin’s approach is just one element in the ongoing shift towards blockchain-based start-up finance innovation. Many in the crypto space have also put forward DAOs or decentralized autonomous organizations, as an agent for further disruption in this area.DAOs also leverage blockchain technology, and their use can be helpful in cutting conventional venture capital firms out of the enterprise funding process. Furthermore, they can be used to cut through unwieldy regulation relative to start-up funding.With the conventional approach to start-up finance, only accredited investors gain access to early-stage opportunities. Individual investors, regardless of their net worth, can participate in a DAO-based approach to financing. The approach facilitates broader inclusion while having the effect of increasing liquidity as well.

The Philippines' central bank has confirmed it has no plans to issue a retail version of a central bank digital currency (CBDC) but that it has definite plans to introduce a wholesale-level CBDC, albeit without using blockchain as the underlying technology. Avoiding retail-level bank run riskThe bank expressed concerns that a retail CBDC could potentially trigger bank runs, given the velocity at which digital currency can be transacted. However, in an interview with local media outlet, the Inquirer, the central bank governor Eli Remolona clarified that within the next two years, the country has definite plans to roll out a wholesale CBDC. CBDCs come in retail and wholesale forms, with the former accessible to the general public and the latter exclusively for institutional use. While the Philippines central bank initiated an exploratory study previously relative to CBDC use, concerns have been raised by the Bank for International Settlements (BIS) about the readiness of institutions to handle the risks associated with CBDCs.Photo by Krisia on PexelsDismissing blockchainDespite this move, the bank does not intend to utilize blockchain or digital ledger technology, which are fundamental to many virtual assets. Remolona stated: "Other central banks have tried blockchain, but it didn’t go well." Instead, the CBDC will operate on a payment and settlement system owned by the central bank, with a focus on wholesale transactions mediated by banks. This marks a shift in the central bank's approach to underlying technology where a CBDC is concerned. The Bangko Sentral ng Pilipinas (BSP) initially embarked on an exploratory study regarding CBDCs in 2022, known as Project CBDCPh. Upon completion of that study, it followed up with a pilot project called Project Agila, concentrating on a wholesale CBDC. Project Agila leaned on the use of the Hyperledger Fabric blockchain, considering it for use on the first wholesale CBDC.  Hyperledger Fabric is an open-source blockchain framework hosted by the Linux Foundation. Companies like IBM, SAP and Intel have all contributed to the development of the enterprise-grade permissioned blockchain network. However, it appears that the BSP is shying away from using any type of blockchain-based solution in establishing its CBDC. Regional steps towards CBDC useThe central bank of the Philippines is among several in the Asia-Pacific (APAC) region that are working towards the introduction of a CBDC. Earlier this month an official from the Reserve Bank of India (RBI) outlined that the central bank will move forward with CBDC development while working towards addressing privacy concerns that citizens may have with a digital rupee. Towards the end of last month, the Japanese government, in collaboration with the Bank of Japan, appeared to be gearing up for the rollout of a CBDC. In a recent meeting between both parties, several legislative matters were identified as key to ensuring a smooth path to the unobstructed launch of a digital currency. There has also been a lot of activity relative to attempts to utilize CBDCs for cross-border trade over the course of the past year. In the United Arab Emirates (UAE), the country announced the first-ever use of its CBDC or digital dirham in a trade deal with China using mBridge, a multi-CBDC platform that supports peer-to-peer, cross-border payments in real time.