Metaplanet continues Bitcoin investment despite market fluctuations

Korean pro female golfers to compete in WEMIX golf tournament this weekendThe world’s first blockchain-assisted golf tournament, WEMIX Championship 2023, will take place this weekend at the Haeundae Beach Golf and Resort in Busan. 24 female golfers from the Korea Ladies Professional Golf Association (KLPGA) — including the top 20 who earned the most WEMIX points during the preliminary Race to WEMIX Championship — are set to compete.Photo by Mick De Paola on UnsplashBringing blockchain to sportsNotably, blockchain technology is incorporated into all aspects of the tournament. This includes dynamic Real World Event NFTs that are available via NFT Is Life Evolution (NILE), Wemade’s decentralized autonomous organization (DAO) and NFT platform. These NFTs come in two categories: “ticket NFTs,” which function as admission tickets and food or parking vouchers for spectators, and “prize NFTs,” which contain WEMIX token awards for tournament winners. The total prize budget is one million WEMIX, or approximately KRW 2.4 billion ($1.9 million) as of 4:30 p.m. on Thursday (local time). The first-place winner will receive 250,000 WEMIXThe tournament venue will also have a Gallery Plaza with various activities and showcases for visitors to enjoy, like exhibitions for Volvo’s newest vehicles, photo zones and putting games. The food and beverage zone will serve BAYC-themed burgers from Californian burger brand Bored and Hungry, as well as beverages from Hide Me, Please, a Korean food and beverage NFT membership brand. BAYC is the globally renowned IP from the Bored Ape Yacht Club NFT collection.The competition’s top playersMeanwhile, the subject of many golfing enthusiasts’ interest is Im Jin-hee, the golfer who won the most WEMIX points during the Race to WEMIX Championship with 6,450 points. She secured 90,000 WEMIX for earning the top ranking, adding another personal achievement to her successful season this year. Coming in second and third place were Lee Ye-won and Kim Min-byeol. The final results of the competition were determined based on the golfers’ performances in the Lotte Rent-a-Car’s Ladies Open and the SK Shieldus-SK Telecom Championship.

Japan’s FSA Joins Project Guardian of Singapore’s MAS to Explore Digital Asset ApplicationsThe Financial Services Authority (FSA) of Japan has announced its participation in “Project Guardian,” an initiative led by the Monetary Authority of Singapore (MAS), as part of their ongoing cooperation framework established in 2017 to boost fintech linkages. The FSA will be an observer in the project, which aims to explore the potential of digital assets.Photo by Joshua Miranda on PexelsExploring fintechProject Guardian, initiated by MAS in May 2022, aims to engage the financial industry in exploring the feasibility of incorporating asset tokenization, decentralized finance (DeFi), and other financial technologies. Together, the MAS and the participants of this endeavor aim to execute pilot projects, shape pertinent policies, and establish technical standards.For pilot projects, the MAS works with traditional financial institutions and fintech firms in Singapore and other jurisdictions to understand potential benefits and risks associated with digital assets. For policy development, the project participants strive to develop rulebooks and governance models, as well as to review the legal and regulatory frameworks that govern tokenized assets. These collaborations also seek to establish technical standards concerning trust anchors, which are qualified third-party authentication service providers; open networks; and institutional-grade DeFi protocols.Comments from officialsExpressing enthusiasm about the collaboration, Leong Sing Chiong, Deputy Managing Director of the MAS, stated, “We welcome FSA’s participation in Project Guardian. We look forward to greater public-private collaboration with FSA to support global efforts in developing a responsible and innovative digital asset ecosystem.”Mamoru Yanase, Deputy Director-General of the Strategy Development and Management Bureau at the FSA, also expressed delight at joining Project Guardian. He said, “We are delighted to join the Project Guardian. Decentralized financial ecosystem continues to develop in complexity, and it is important to address emerging risks. Blockchain technology including web3 has a potential to become a strong driver of innovation. We look forward to working with MAS, traditional financial institutions and FinTech firms to further enhance our knowledge in this area.”By participating in Project Guardian, the FSA and MAS are reinforcing their commitment to exploring the potential of digital assets while addressing regulatory considerations. This collaborative effort is poised to contribute to the responsible and innovative development of the global digital asset ecosystem.

Singapore-based cryptocurrency trading platform BingX has secured a sponsorship deal as the new sleeve sponsor for Premier League football club Chelsea.Photo by Chaos Soccer Gear on UnsplashJanuary 9 debutThe arrangement, spanning the next six months, is expected to debut during Chelsea’s Carabao Cup semi-final first-leg match against Middlesbrough on Jan. 9. As part of this sponsorship, BingX will prominently feature on the front of Chelsea’s training kits for the upcoming 2024/25 season. Meanwhile, the current shirt sponsor, Infinite Athlete, will transition to a training sleeve sponsorship starting next season. While details about the fate of Chelsea’s training kit deal with Trivago, an online hotel booking site, remain uncertain, the club is navigating sponsorship changes in the wake of owner Roman Abramovich’s prior ownership and UK government sanctions. Corporate rebrandEstablished in 2018, BingX operates as a cryptocurrency exchange headquartered in Singapore, catering to a user base of over 10 million in Southeast Asia and North America. In November, the company announced that it was rebranding the business. Part of that process was understood to involve an overhaul of BingX’s visual identity, with the introduction of a streamlined logo. Sponsorship within the English Premier League is a high profile marketing move that will undoubtedly bring more visibility to that brand. Crypto marketing spend reboundThe marketing spend of crypto firms relative to high profile sponsorship deals has recovered significantly in recent months. Such sponsorship deals peaked at the top of the crypto market in 2021. That period saw profligate spending by many of the large crypto platforms. A standout example was provided by the $135 million sponsorship deal signed by fraudulently run crypto exchange FTX for the Miami Heat stadium naming rights in the United States. While that opulent sponsorship spending subsided during the bear market, it appears that there has been a modest resurgence as market conditions have improved. Seychelles-based crypto platform OKX has ongoing marketing relationships with the McLaren Formula One racing team and Manchester City Football Club. In March, U.S.-based crypto exchange Kraken announced a marketing partnership with the Williams Formula One racing team. Earlier this week it emerged that crypto gambling platform Stake.com had signed a sponsorship deal with the Sauber Formula One team. 18 of the 20 English Premier League clubs are now understood to have agreed sponsorship deals at one time or another with crypto companies. This demonstrates the growing trend of cryptocurrency platforms associating with high-profile sports partnerships, enhancing their visibility and influence in the market. Chelsea is actively seeking a front-of-shirt sponsorship deal, considering potential collaborations, including discussions with Saudi national carrier Riyadh Air. It’s understood that the BingX deal has been agreed for in excess of £10 million ($12.7 million) per season.