Bithumb’s college student supporter group Thumbs Up kicks off

While South Korea’s central bank has opted not to accumulate Bitcoin (BTC) at a nation-state level, North Korea has become a major holder of the leading crypto asset, albeit in a very unconventional way. The Democratic People's Republic of Korea (North Korea) is believed to currently be in possession of 13,518 BTC. That’s according to data compiled by the blockchain analytics firm Arkham Intelligence. Arkham has labeled the holding as belonging to the notorious North Korean hacking organization Lazarus Group. It’s been alleged by many observers over recent years that Lazarus is controlled by the North Korean government. Photo by Vasilis Chatzopoulos on UnsplashOn this basis, it would appear that North Korea now has a larger Bitcoin holding than the Bitcoin-friendly jurisdictions of Bhutan and El Salvador. The Kingdom of Bhutan holds 10,635 BTC through Druk Holdings and Investments (DHI), the commercial arm of the Royal Government of Bhutan.  Meanwhile, El Salvador holds 6,119 BTC. Bhutan has been accumulating Bitcoin as a consequence of Bitcoin mining activity carried out by the government in partnership with Singapore-based Bitcoin mining firm Bitdeer and others within the Asian country over recent years. El Salvador made a commitment to buy Bitcoin on an ongoing basis following its recognition of the digital asset as legal tender back in 2021. Based on Bitcoin pricing at the time of writing, Arkham’s data suggests that North Korea currently holds Bitcoin with an overall value of around $1.14 billion. It’s believed that North Korea’s overall holdings have been bumped up recently following a $1.4 billion hack of global crypto exchange Bybit last month. According to crypto data analysis firm Coin Metrics, the hack stands as one of the largest of all time.  Arkham’s data suggests that North Korea now has the third largest nation-state holding of Bitcoin, with the U.S. in first place, with 198,109 BTC, and the UK next with a holding of 61,245 BTC. Besides Bitcoin, the Lazarus Group is understood to be sitting on ETH, BNB, DAI and BUSD worth in the region of $30 million. In the immediate aftermath of the hack, the hackers moved to swap out some of the stolen Ether (ETH) for Bitcoin via the THORChain decentralized liquidity protocol. South Korea not building Bitcoin reserveWhile North Korea appears to have accumulated Bitcoin at the nation-state level through nefarious means, the Republic of Korea’s (South Korea) central bank has given an indication that it currently has no plans to accumulate Bitcoin.  According to a recent local media report, the Bank of Korea (BOK) responded in writing to a query from a Korean parliamentarian, outlining that there is no plan currently to develop a Bitcoin reserve or to stockpile Bitcoin at a national level.  The BOK is understood to have cited Bitcoin’s price volatility as a major concern. Additionally, the central bank outlined that Bitcoin doesn’t conform to the International Monetary Fund’s (IMF) guidelines relative to foreign exchange reserve management.

Renault Korea Establishes Metaverse Space for Car EnthusiastsRenault Korea Motors made an announcement on Friday that it will establish the Renault Korea Hub, an immersive automotive experience located within a metaverse, according to a report by Korean news media Dailian. The company intends to commence operations of this unique venture in the upcoming autumn season.Photo by Richard Horvath on UnsplashThe Sandbox and Korean brandsThe Renault Korea Hub will operate within K-verse, a designated area of Korean brands within The Sandbox, a metaverse platform based on blockchain technology.The Sandbox metaverse has recently announced its latest Korean brand partners, and as part of this development, a land sale event is being organized where their adjacent land will be raffled off. The event is named “Hallyu Rising.” Hallyu or the Korean Wave is a cultural phenomenon that has experienced a significant surge in global popularity since the 1990s, mainly thanks to its pop songs and TV shows.During the land sale event, users have the chance to acquire land adjacent to various prominent brands associated with Korean culture. This will be made possible through raffles and auctions facilitated by the metaverse platform. Other notable partners besides Renault Korea are Channel A, a TV broadcasting network; Netmarble, a game publisher; and CJ ENM, an entertainment company.Unique experiences for car enthusiastsThe Renault Korea Hub, the first of its kind in Korea, will provide a unique space for automobile enthusiasts to indulge in a diverse array of experiences and games. As per the automaker’s announcement, visitors will have the chance to engage in activities like developing their own vehicle designs.Visitors will have the opportunity to experience Renault Korea’s vehicles in voxel form, allowing them to explore the technology, design philosophy, and stories associated with each vehicle. A voxel can be understood as a 3D counterpart to a 2D pixel, representing a value on a regular grid in 3D space.Renault Korea CEO Stéphane Deblaise stated that the carmaker intends to continue its pursuit of diverse Web 3.0-based activities centered around metaverses and non-fungible tokens (NFTs). He said the automaker’s projects aim to establish a connection between customers’ mobility experiences and their digital lives. Deblaise also highlighted that these projects will undergo further development through the integration of artificial intelligence (AI) technologies.Storytelling contestEarlier this month, Renault Korea introduced the storytelling contest titled “create your SM6,” which concludes today. This campaign inspires customers to utilize emerging AI technologies to design their own SM6 vehicles and transform them into NFTs. The SM6, Renault Korea’s midsize sedan, initially debuted in 2016 and has undergone subsequent facelifts to enhance its features and aesthetics.The top ten performers in the storytelling contest, who create captivating renditions and stories featuring the SM6, will be rewarded with utility NFTs and KLAY, the native token of the Klaytn network. The first-place winner will receive a prize package consisting of 1 million KRW ($750) worth of KLAY, along with six SM6 NFTs.The announcement of the winners is scheduled to take place between May 31 and June 9. Following the announcement, the airdrop of rewards will be conducted from June 30 to July 7.

BitBunny, a South Korean mobile app that distributes rewards based on walking activity, now offers rewards in the form of Bitcoin, according to an article by local news outlet TechM on Tuesday (KST).Photo by Thom Milkovic on UnsplashUnlocking rewardsBitBunny allows users to earn Bitcoin by completing missions like walking, checking daily attendance, inviting other friends to use the app, watching advertisements and participating in quizzes and games. Last Friday, the app added a new feature called "Catch the Bunny," a game where users can earn up to 10,000 points, or “coins”. These coins can either be used as cash when exchanged for vouchers – which can be used at various brands like Starbucks or Burger King – or invested in cryptocurrencies like Bitcoin, Ethereum, Ripple and Dogecoin. Due to these features, the app surpassed 100,000 users within just three months of release. BitBunny's vision"BitBunny's growth is an example of how mobile app technology and crypto are converging in everyday life, creating new user experiences," said Lee Kyung-tae, Team Lead at BitBunny. "We will continue to try different things to keep users interested and engaged." With a commitment to experimentation and user engagement, BitBunny is poised to redefine the way that users interact with both mobile apps and cryptocurrencies, offering a glimpse into a more integrated and rewarding digital future.