Pre-registration for MMORPG Night Crows opens

The South Korean Financial Services Commission (FSC) made an official announcement on Friday (KST) stating that "domestic securities firms brokering spot bitcoin ETFs that are listed on overseas markets may be considered a violation of the government's stance on virtual assets and the Financial Investment Services and Capital Markets Act." This stance refers to a press release published on Dec. 13, 2017 that outlined the government’s conclusion that virtual assets must be dealt with carefully.Photo by Lauren Seo on UnsplashFuture possibilityHowever, this statement is not to be interpreted as a complete dismissal of the possibility that South Korea could adopt the ETF. The agency added that it would look into the issue thanks to a more stable regulatory landscape sweeping the country following the implementation of regulations on virtual assets like the Virtual Asset User Protection Act. Authorities are also taking into consideration the fact that other countries like the U.S. are adopting a more open stance. Market downturnFollowing the announcement, stocks related to the ETF in the South Korean market – which had surged on the news of a spot bitcoin ETF listing on the U.S. stock market a day ago – saw share prices drop within a day. As of 10:04 a.m. on Friday, Woori Technology Investment was trading at KRW 7,650 ($5.82), down 4.61 percent from the day before, and Hanwha Investment & Securities was down 9.09 percent to KRW 4,000. Both of these firms hold stakes in Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit.

Seychelles-based crypto exchange OKX’s Web3 wallet service, OKX Wallet, has begun supporting Wemade’s blockchain network WEMIX3.0, according to an announcement on Friday (KST). This development will allow OKX Wallet holders to directly manage the crypto assets that they hold from the WEMIX3.0 ecosystem. Photo by GuerrillaBuzz on UnsplashSeamless access and versatile Web3 servicesOKX Wallet notably supports over 70 networks and 3,000 cryptocurrencies and provides other wide-ranging Web3 services like NFT trading, crypto swaps and a decentralized finance (DeFi) platform. In particular, it also has a hassle-free recovery process for account access that employs Multi-Party Computation (MPC) technology, effectively eliminating the need for traditional recovery methods like seed phrases.  OKX Wallet and WEMIX3.0 also vowed to work on more integrations and joint campaigns in the future to round up a larger global user base and lead the era of Web3.  A rising force in cryptoIn other news, WEMIX3.0’s governance token, WEMIX, has been making a significant impact in the crypto industry. The asset ranked ninth in CoinMarketCap’s list of largest blockchains in crypto ranked by total value locked (TVL) last month, and it possessed the largest constituent weight in terms of market capitalization in the gaming sector in the latest Crypto Sector Indices released by Sygnum, a global digital asset banking group headquartered in Switzerland and Singapore. 

MEVerse and XPLA forge partnership to herald new era of blockchain gamingMEVerse, the blockchain metaverse platform operated by South Korean gaming company ME2ON Group, and global layer 1 blockchain XPLA have established a partnership to share their respective technologies and create content to popularize Web3 gaming, according to an official announcement on XPLA’s Medium on Wednesday (KST). Their larger goal outlines a commitment to redefining the industry’s landscape by creating a dynamic and engaging metaverse for users worldwide.Photo by Scott Graham on UnsplashHigh hopes“XPLA aims to broaden the horizons of the Web3 industry and contribute to the popularization of blockchain through collaboration with various projects. We plan to work closely with the MEVerse platform, which has secured a high-level lineup of Web3 games, to provide participants with an even richer experience,” said Paul Kim, Team Leader at XPLA.Seamless metaverse experienceMEVerse is known for leveraging its high-speed blockchain technology, which can process 9,000 transactions per second, to help users immerse themselves in the metaverse and enjoy the content it has to offer. Notably, it employs a Proof of Formulation (PoF) consensus algorithm developed by blockchain service platform FLETA — a more eco-friendly alternative to Proof of Work (PoW) that prevents forks by confirming blocks and transactions in real time. The platform also implements cross-chain technology to enhance scalability and interoperability.MEVerse’s blockchain infrastructure includes the Web3 P2E casual game portal MEVerse GameZ, non-fungible token (NFT) marketplace MEVerse DEX, blockchain explorer MEVerse Scan, and more. It also features games like X Heroes: NFT War and Pocket Battles: NFT War.This development is the newest partnership in XPLA’s growing lineup. The platform recently teamed up with Study-to-Earn (S2E) project EDUM and Game and Earn (G&E) platform PERPLAY in an effort to branch out its business.