Carrieverse teams up with Internet Computer for content and marketing partnership

WEMIX Play Completes Successful Migration to the WEMIX3.0 MainnetSouth Korean gaming company Wemade has announced the successful migration of its global blockchain gaming platform, WEMIX Play, to the WEMIX3.0 Mainnet.Photo by Mathew Schwartz on UnsplashImproved interoperabilityThis transition effectively links all games on the WEMIX Play platform to the WEMIX3.0 Mainnet. Additionally, the launch of the Play Proof Protocol (PPP) further strengthens the network’s interoperability.Instant token tradingThe PPP enables users to instantly trade their tokens for those of their preference, eliminating the need for token swaps between disparate networks. This approach simplifies the process with a single signature, providing users with a more convenient experience.Omnichain strategyAs part of its commitment to fostering a united community, Wemade has adopted an omnichain strategy to connect the WEMIX ecosystem with external chains. Looking ahead, WEMIX Play aims to establish connections with various mainnets, expanding its platform and streamlining token exchanges.Wide variety of games and servicesBoasting a user base of nine million, WEMIX Play offers games of various genres, including massively multiplayer online role-playing games (MMORPGs), strategy games, and social network games. The platform also provides a wide range of services such as gaming tokenomics; the financialization of gaming, known as GameFi; non-fungible token (NFT) marketplaces; and community pages.

India’s judiciary turns down plea to formulate a crypto regulatory frameworkThe Indian courts have declined a consideration targeting the establishment of a regulatory framework for cryptocurrency trading, following a plea which had been brought to court by a petitioner.Photo by Naveed Ahmed on UnsplashBeyond the court’s purviewIndia’s Supreme Court, led by Chief Justice Chandrachud, recently confronted a petition urging the establishment of a regulatory framework for cryptocurrency trading. According to a local media report, the bench, which included Justices JD Pardiwala and Manoj Misra, dismissed the plea, emphasizing that the demands presented were legislative and thus beyond the court’s direct action purview. This decision points to the judiciary’s recognition of its constraints in crafting laws, particularly in intricate domains like cryptocurrency.The petitioner, Manu Prashant Wig, a former director at Blue Fox Motion Picture Limited currently in custody due to allegations of cryptocurrency fraud, sought relief through a public interest litigation (PIL) for crypto trading regulations in India.The Economic Offence Wing (EOW) of the Delhi Police accused Wig in 2020 of deceiving investors with promises of high returns from crypto investments, involving 133 reported victims of the scheme. Despite this, during the hearing, the Supreme Court advised Wig to pursue legal remedies through appropriate channels, specifically for bail, underlining its inability to issue directives under Article 32 of the Constitution for legislative matters.Judiciary criticize governmentWhile the judiciary has found that it cannot act itself in putting in place a crypto regulatory framework, the Supreme Court has been critical of the government’s inaction on the matter. In July, India’s highest court criticized the Indian government for its failure to establish clear cryptocurrency regulations.Interestingly, while the government hasn’t acted locally, it has been making efforts to drive regulation at an international level instead. The status of cryptocurrency trading in India remains uncertain, with the country developing a regulatory framework influenced by recommendations from the International Monetary Fund (IMF) and the Financial Stability Board (FSB), potentially leading to legal legislation within the next several months.Prime Minister Modi called on authorities internationally to establish a worldwide regulatory framework. At the recent G20 summit, it appears that member states did reach agreement on such a framework.The Supreme Court’s dismissal of the PIL marks a clear distinction between judicial and legislative responsibilities. As India moves closer to formulating a comprehensive crypto regulatory framework, this decision reinforces the imperative for legislative action to address mounting concerns and interests in the crypto market.Awaiting legislative actionThe outcome of these developments is keenly awaited by investors, legal experts and the crypto community, poised to shape the future landscape of cryptocurrency trading in India. The decision signifies the judiciary’s acknowledgment of its limitations and highlights the necessity for a legislative approach to effectively navigate the intricate landscape of cryptocurrency regulation.In this evolving scenario, the verdict amplifies the importance of a well-defined regulatory framework. As the world’s most populous country grapples with the delicate task of balancing innovation and investor protection, the Supreme Court’s decision places the ball firmly in the legislative court.

XPLA Forms Strategic Partnership with Nefta for Gaming Infrastructure DevelopmentSouth Korean gaming company Com2uS Group’s blockchain mainnet XPLA announced on Monday that it has entered into a strategic partnership with Web3 infrastructure firm Nefta.Photo by Jack B on UnsplashStreamlining Web3 game developmentXPLA stated that Nefta’s Toolbox service, which aids in Web3-based game development for maximum retention and monetization, will be connected to the XPLA mainnet, creating an environment that is optimized for seamless development processes.The Nefta Toolbox provides one-stop support for integrating blockchain technology into clients’ services. It not only serves clients in the gaming industry but also those in music and entertainment, providing them with cutting-edge technology and products like a digital wallet and a customizable marketplace.Future-oriented partnership“We are delighted to partner with Nefta due to their unparalleled infrastructure technology and deep insights into Web3 gaming that they gained from working with major global Web3 gaming companies. With this partnership, we will expand and lead the industry,” said Paul Kim, Team Leader at XPLA. Nefta has previously partnered with game developers such as Medieval Empires and MYSTiC Games.Geeshan Willink, CEO of Nefta, highlighted the alignment of Nefta’s blockchain tools and technology with XPLA’s vision for advancing Web3 philosophy. He also expressed the firm’s commitment to developing the partnership to provide noteworthy benefits to both developers and gamers.The new partnership is expected to strengthen XPLA’s position in the Web3 gaming industry by leveraging Nefta’s expertise in infrastructure technology and blockchain tools.