Hyperithm invests in Japanese yen stablecoin issuer JPYC Inc.

Korean Conference Captures Interest of NFT and Blockchain Game EnthusiastsNews of the upcoming NFT and Blockchain Game Conference is sure to excite gaming enthusiasts with a keen interest in these technologies. Organized by ZDNet Korea, a tech news outlet, the conference is scheduled to take place on June 27 in the Pangyo Techno Valley, located on the outskirts of Seoul, Korea.Photo by Mateo on UnsplashPolicy and future strategiesThe event will delve into various aspects of the gaming industry, including policy and future strategies, with a specific focus on innovative technologies such as non-fungible tokens (NFTs), cloud computing, and cryptocurrency wallets. Attendees can expect valuable insights and engaging discussions on how these advancements are shaping the future of gaming.Prominent firms to share insightsHosted by the Korea Game Media Association (KGMA), the conference will kick off with a keynote speech by Jae Park, the Korea Country Manager of the global crypto exchange XT.COM. Park will share his expertise on the NFT gaming industry and discuss success strategies. Following Park’s speech, representatives from prominent companies at home and abroad, including Nexon, Marblex, NPIXEL, Polygon Labs, and Alibaba Cloud, will take the stage.Hwang Sun-young, Production Director at Korean game publisher Nexon, will explain Nexon’s implementation of blockchain technology in their projects. Hwang previously attended the Game Developers Conference (GDC) 2023 in San Francisco, where Nexon unveiled the blockchain gaming ecosystem “MapleStory Universe” in partnership with Polygon, a layer 2 scaling solution on Ethereum. MapleStory is Nexon’s blockbuster side-scrolling massively multiplayer online role-playing game (MMORPG).Jake Moon, COO of Marblex, will discuss the endeavors of the Marblex Web3 game ecosystem. Park Sung-mo, Head of Business Development at Polygon Labs, will shed light on the role of the mainnet in the blockchain industry.Ko Jeong-hwan, Head of Web3 at NPIXEL, will provide insights into how Web3 enhances the gaming experience. Lim Jong-jin, Tech Team Lead in Korea at Alibaba Cloud, will introduce the Alibaba Cloud ecosystem and platform that supports Web3.Kim Oh-joong, CEO of Find The Gap, will review incidents related to NFT and game hacking, along with potential solutions. James Kwak, Director of the Business Development Department at BPMG, will deliver a talk on Web3 and wallets.KGMA President Lee Taek-su told ZDNet Korea that NFTs and the blockchain have emerged as important concepts in the global gaming industry. He highlighted that the conference would provide an opportunity to review the efforts undertaken by Korean game companies in the blockchain sphere and raise awareness of the need to embrace the changing paradigm in the sector.

Survey Reveals Over Half of Korean Financial Firms Eyeing Both Issuance and Distribution of Security TokensIn a recent survey conducted by fintech solution provider Koscom, it was found that more than half of South Korean financial companies interested in security token businesses are planning to undertake both the issuance and distribution of security tokens. This result reflects the belief of the financial firms that if they engage only in the secondary market, they will experience reduced profitability due to the necessity of lowering transaction fees amidst fierce competition, as per local business newspaper Hankyung.Photo by Shubham Dhage on Unsplash62% of financial firmsAt a seminar held today, Koscom revealed the result of this survey it conducted among a total of 95 entities interested in security tokens, consisting of 30 securities firms, three banks, one asset management company, and 61 token issuers. Among the financial firms that belong to the first three categories, 62% answered that they will conduct both the issuance and distribution of security tokens. 31% expressed a preference for conducting only issuance, while 7% were inclined towards distribution alone.The survey also highlighted that 38% of financial companies hold a positive outlook on the security token market, although they acknowledge insufficient understanding. Additionally, 34% of respondents anticipate that the security token market will rival the exchange-traded fund (ETF) market in terms of size, while only 10% believe it will eventually replace the initial public offering (IPO) market.Cultural contentWhen it comes to the underlying real-world assets (RWAs) for security tokens, cultural content emerged as the most preferred option, with 71% of respondents selecting it. Real estate followed closely at 66%, with energy (55%), artworks (41%), and agriculture and fisheries (21%) also garnering interest. Respondents were allowed to choose multiple options for this section.Similarly, cultural content remained the top choice among token issuers, favored by 21% of respondents. It was followed by real estate (16%), artworks (14%), intellectual property (14%), and agriculture and fisheries (9%).A Koscom official attributed the preference for cultural content and real estate as underlying assets to their accessibility and profitability.This seminar, organized by Koscom, aimed to create a supportive environment for issuers and distributors struggling to promote security token businesses. Hong Woo-sun, CEO of Koscom, said the company will leverage its expertise in the capital market and blockchain technology to collaborate with authorities and relevant organizations in lowering barriers to entry for market participants who need technical infrastructure.

SKYPlay and 3D Factory join forces to bring Web3 to everyday lifeSKYPlay, a Seoul-based blockchain gaming platform, announced Monday (local time) that it has signed a business agreement with 3D Factory to create content that integrates Web3 into everyday life, thus facilitating the rapid expansion of Web3 technology.Photo by Medienstürmer on UnsplashSynergizing Web3 realmsThrough this business agreement, SKYPlay aims to combine its Web3 capabilities in gaming and art with 3D Factory’s Web3 capabilities in sports. The two enterprises will ultimately establish a technological foundation for accelerating the integration of Web3 into society and expanding its uses.Pioneering paths in gaming, sports and moreEstablished in 2021, SKYPlay is a Play-to-Earn (P2E) platform that offers several games and related services, including a gaming community and forum, to some 300,000 users. Previously, the company secured large-scale investments worth $3 million and $10 million from Hong Kong-based startup accelerator 1st Soul Group and U.S.-based investment group LDA Capital, respectively. It is also expected to participate in an outer space mission led by NASA and SpaceX through a partnership with Web3 community BitBasel.3D Factory is a global blockchain-based meta platform that provides a range of services like gaming, NFT sales and metaverse memberships. Notably, it is deeply engaged with Spanish soccer. Having signed an NFT sponsorship agreement with the Spanish Football Federation (RFEF) in November last year, 3D Factory was able to create its own metaverse. This partnership involves not only the Spanish national team but also club teams in the Copa del Rey and Super Cup competitions, featuring some of the world’s biggest football teams like Real Madrid FC and FC Barcelona.