Korea offers on-site consultation for virtual asset businesses for law compliance

Korea Blockchain Week to Expand Online Next YearFactBlock, the organizer of South Korea’s largest blockchain event Korea Blockchain Week (KBW) 2023, has unveiled its vision to bring KBW online, aiming to resolve information asymmetry and cater to a larger audience.Photo by Sergey Zolkin on UnsplashExpanding accessThe company’s CEO, Jeon Seon-ik, shared future plans to extend KBW’s reach to the digital realm during the event’s main conference, Impact, at the Shilla Hotel in Seoul on Tuesday. “Next year, we plan to implement online passes to enable people overseas who cannot attend the event in person to do so online,” he said.Growing popularityKBW has experienced continuous growth since its inception in 2018. Last year’s Impact conference attracted over 8,700 attendees, and this year’s event is expected to host more than 10,000. The number of speakers at Impact increased from around 140 last year to over 200 this year, while side events have also doubled.“As KBW grows every year, we are preparing for the event with a greater sense of mission,” Jeon said.This year’s KBW has also come back bigger than ever with events like The Gateway: Korea — an annual Web3 event held to celebrate the NFT community and digital artists — and the SEOULBOUND EDM festival, integrating a diverse range of realms like tech, art, and music.The driving force behind KBWNotably, Jeon also emphasized the importance of the blockchain community. He underscored that KBW’s planning and growth have been achieved with the help of the community and expressed a commitment to continue working closely with it. “We will always strive to make KBW an event with the community, by the community, and for the community,” he said.Jeon also mentioned FactBlock’s plans to provide communities with information on blockchains and virtual assets through its upcoming online platform Fablo, where these communities can learn, interact, and grow together.

Korea’s Traditional Customer Rewards Program Embraces NFTsSouth Korean tech company SK Planet, the operator of the popular customer rewards program OK Cashbag, made an exciting announcement for points collectors today. In a recent press release, it revealed the launch of its new non-fungible token (NFT) membership program called “Road to Rich.”Photo by Markus Winkler on PexelsRewards program meets NFTsFor over two decades, OK Cashbag has been a beloved membership service for Korean consumers. Now, members can embark on a journey through the Road to Rich program, accompanied by a rabbit character NFT. By completing daily quests, participants will earn rewards such as OK Cashbag points. As they progress on their journey, users can even level up their character, with the ultimate goal of reaching level 5. At this pinnacle, users will receive a tradable TEM NFT, offering customized everyday benefits.Decentralized walletSK Planet, an affiliate of the South Korean conglomerate SK Group, has also introduced a new decentralized wallet called UPTN Station. Built on the Avalanche subnet, UPTN Station empowers users to store and transfer various digital assets, including NFTs. To enjoy the Road to Rich program, the installation of UPTN Station is required.Gaming and rewardsNotably, the Road to Rich program comprises two gaming episodes to further captivate its users and encourage active participation. Any OK Cashbag member aged 19 or older can partake in the first episode and mint their own rabbit NFT at no cost.Kim Kyo-soo, the head of SK Planet’s customer experience division, expressed enthusiasm about the NFT program, highlighting its ability to make Web3 experiences second nature for users. Moreover, he mentioned plans for future collaborations with SK Group affiliates and other partners, aiming to provide an extensive range of services.

Netmarble’s MARBLEX Bolsters Partnership with Bisonai to Elevate MBX EcosystemSouth Korean gaming company Netmarble said today that its blockchain subsidiary, MARBLEX, is reinforcing its strategic partnership with blockchain infrastructure company Bisonai to help bolster the MARBLEX gaming finance (GameFi) ecosystem.Revolutionizing gaming with blockchainNetmarble released the MARBLEX Playground in February of this year, which aims to optimize game enjoyment and benefits for players by incorporating NFTs, GameFi, decentralized finance (DeFi), and more that collectively run on a blockchain ecosystem revolving around its governance token, MBX.Photo by ELLA DON on UnsplashAs a company that specializes in building blockchain products for its clients in a wide range of sectors, including gaming, Web3, NFTs, and DeFi, Bisonai has directly contributed to the development of MARBLEX’s MBX ecosystem. In particular, it played a significant role in building MBX Marketplace — a platform for unrestricted NFT transactions within the ecosystem — which went live in November of last year, as well as MBX Explorer, a token scanning site.Following this venture, Bisonai is planning to provide further technical consultations and solutions for the blockchain infrastructure that will be potentially required within the MARBLEX ecosystem.Advancing transparency and accessibility of MBXMeanwhile, MARBLEX disclosed plans on June 27 to overhaul the token system within the MBX ecosystem. As part of its commitment to improving transparency, it announced that it burned approximately 670 million MBX that have not been designated for use within the ecosystem out of its total supply of one billion MBX.The MBX token also received a landmark whitelist approval in Japan last month, becoming the first token from a Korean blockchain gaming project to do so.