Circle forges partnership with Japan’s Coincheck

Samsung Plans to Expand Its Business Through NFTsSamsung Research, the research arm of Samsung Electronics, set up a new task force earlier this year to launch new projects to combat slowing demand for home appliances.Photo by Markus Winkler on PexelsSamsung’s endeavors in NFTsOne of its projects will involve non-fungible tokens (NFTs), in which Samsung has been showing its continued interest. Last February, Samsung Electronics displayed NFT artworks on their high-end televisions, and more recently, the high-tech company signed a memorandum of understanding with Hana Financial Group to develop NFT-related products.TVs to offer NFT art trading functionalityIt is predicted that in the first half of this year, Samsung will release a premium television with an application that allows TV viewers to trade NFT artworks. It is analyzed that the leading hardware manufacturer now attempts to expand its business models through NFTs and other content services while maintaining its dominance in the TV market.

Animoca Brands Secures Funding to Expand Web3 Identity ProjectHong Kong-based Web3 firm Animoca Brands has successfully raised $20 million in a recent funding round, signaling a significant boost for its Web3 identity project, Mocaverse.Photo by Markus Winkler on UnsplashCMCC Global leads funding roundThe funding, announced via a blog post published to the firm’s website on Monday, was spearheaded by CMCC Global, a Hong Kong-headquartered venture capital firm that focuses solely on blockchain-related investments. Additionally, the round saw participation from prominent investors including Kingsway Capital, Liberty City Ventures, and GameFi Ventures.Prominent individuals within the industry also contributed, including Aleksander Larsen, Co-Founder of Sky Mavis, the developer of well-known blockchain play-to-earn game Axie Infinity, and Gabby Dizon, Founder of Yield Guild Games.Mocaverse, Animoca Brands’ ambitious project, is dedicated to the development of Web3-native tools catering to the gaming and entertainment sectors. This funding round points to the growing recognition of Web3’s potential to transform digital identities, particularly so within the areas of gaming, culture, and entertainment.Aiming to redefine Web3 user engagementMocaverse aims to redefine how users engage with these sectors by providing innovative solutions and unique experiences. One noteworthy aspect of this funding initiative is Animoca Brands’ commitment to granting investors “a free-attaching utility token warrant on a 1:1 dollar basis.” This strategic move not only bolsters investor confidence but also aligns their interests with the long-term success of Mocaverse.The injection of capital will be instrumental in advancing the Mocaverse project, with the imminent launch of Moca ID being a key milestone. Moca ID, a non-transferrable NFT collection, empowers users to create and nurture their on-chain identities, offering exclusive access to the Mocaverse ecosystem and the opportunity to earn loyalty points through active participation.Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, who also participated in this funding round on a personal basis, expressed his vision for Mocaverse, stating:“The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem.”Siu emphasized that Mocaverse’s scope extends beyond individual empowerment. It is poised to serve as a digital identity, reputation, and loyalty system for various decentralized organizations.Web3 thought leadershipThe Animoca Brands Co-Founder is catching the public eye with his commentary and thought leadership relative to the fledgling Web3 sector. In an interview last week, Siu voiced his belief that Saudi Arabia is proactively nurturing blockchain gaming, revealing that Animoca itself has partnered with the Gulf state on a Web3-related project.Giving a keynote speech at the Ethereum Community Conference (EthCC) in Paris in July, he voiced his opinion that Hong Kong’s recent crypto development has been sanctioned by mainland China.The $20 million raised signifies a significant stride toward realizing the potential of Web3 technology in shaping the future of gaming, culture, and entertainment. With Mocaverse at the forefront, Animoca Brands is poised to attempt to create a vibrant ecosystem where users can actively engage, redefine their digital identities, and unlock new economic opportunities, all within a collaborative and decentralized framework.

Lion Group Holding Ltd (LGHL), a Nasdaq-listed financial services firm that provides an all-in-one platform for traders, has announced that it has secured $600 million to fund a Hyperliquid (HYPE) treasury. In a press release published by PR Newswire on behalf of the firm on June 18, the company outlined that a $600 million funding facility has been put in place by ATW Partners, a New York-headquartered investment firm that manages a number of private equity funds. Global investment bank Chardan Capital acted as the placement agent in facilitating the funding, with the first closing of $10.6 million, as per the subscription agreement.Photo by Towfiqu barbhuiya on UnsplashCorporate treasury strategyLion Group will use that money to launch a new corporate treasury strategy built around Hyperliquid’s HYPE token. Hyperliquid is a decentralized exchange (DEX) which was created by Hyperliquid Labs, a startup founded by Jeff Yan.  The HYPE token is the native token of the Hyperliquid platform. It’s used to secure the network through staking and for project governance. The token is also used to provide transaction incentives, while the Hyperliquid platform buys back HYPE tokens using trading fee revenues. Lion Group’s platform offers its users access to contract-for-difference (CFD) trading, total return swap (TRS) trading, over-the-counter (OTC) stock options trading, while also acting as a futures and securities brokerage. Up until 2022, the firm was based in Hong Kong, opting to relocate to Singapore at that point. Primarily, the company serves corporate clients, individual professional investors and retail investors located in China and throughout the Southeast Asian region. Future of trading is on-chainIn explaining its rationale for pursuing a HYPE treasury strategy, the company’s CEO, Wilson Wang, stated: “Hyperliquid represents a natural extension of LGHL's existing derivatives business into decentralized markets, and reflects our conviction that decentralized on-chain execution is the future of trading." Going forward, the company will pursue a strategic accumulation of HYPE, with the token serving as the firm’s primary reserve asset. In addition to HYPE, Lion Group outlined that it may also allocate funds to purchase Solana (SOL) and Sui (SUI), with these tokens to be staked and custodied with institutional-grade digital asset custodian, BitGo. Lion Group asserted that both of these assets would form “key pillars” of a treasury strategy “focused on execution-first protocols.” Wang added that the company views “protocols like HYPE, with decentralized sequencing, as foundational to building scalable DeFi systems.” The company is not the first mover in terms of launching a HYPE-based corporate treasury. On June 17, Eyenovia, Inc. (EYEN), a Nasdaq-listed ophthalmic technology firm, announced that it had entered into a securities purchase agreement with a view towards financing a $50 million HYPE treasury. Additionally, the firm plans to change its name to Hyperion DeFi and its stock ticker to HYPD later this week to reflect its new HYPE-based reserve strategy. Shares in Eyenovia closed at $4.83 on June 18, down 30.7% over the course of 24 hours. Lion Group shares closed at $3.33, up 19.78%.