Wemade’s NILE Launches NFT Tickets for Game Exhibition G-STAR 2023

Bill Winters, the American banker who heads the British financial group Standard Chartered, appeared at the Hong Kong FinTech Week conference earlier this week, where he predicted a future in which cash will give way to blockchain-based systems for everyday transactions. According to Cointelegraph, Winters’ view aligns with that of Hong Kong regulators. At the same time, he stressed the importance of continued experimentation, noting that it remains uncertain how this transformation will ultimately take shape. Winters also commended Hong Kong’s leadership in exploring the potential of digital finance. Tech-driven finance has certainly been one of the key initiatives Hong Kong has been exploring. Recently, the Hong Kong Monetary Authority (HKMA) released its e-HKD Pilot Programme Phase 2 Report, which showed public support for tokenized deposits.Photo by Shubham Dhage on UnsplashReal-world assets gain ground on the blockchainOn-chain data also underscores the rapid growth of the tokenization sector. According to RWA.xyz, the total value of real-world assets (RWAs) deployed on-chain has climbed to $35.63 billion, up 7.8% from a month ago. A study by Ripple and Boston Consulting Group (BCG) estimates that tokenized assets could be worth $19 trillion by 2033, about 530 times their current value. Among RWA assets, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, Tether Gold (XAUT), and Paxos Gold (PAXG) currently lead the market in terms of value. Over the past 30 days, BlackRock’s BUIDL Fund slipped 0.06%, while the two tokenized gold products, XAUT and PAXG, jumped 46.65% and 14.19%, respectively. These gains mirror gold’s bullish run in October, when its price surpassed $4,000 per ounce for the first time on Oct. 7. The momentum has since eased slightly, with gold now trading at around $3,969.55 per ounce. Tokenization brings 24/7 markets and P2P flexibilityIndustry experts point to the convenience of tokenization as a key advantage. Speaking to Yahoo Finance, Will Peck, head of digital assets at WisdomTree, explained that tokenized gold allows for around-the-clock trading and direct peer-to-peer (P2P) transactions. He added that gold and Bitcoin act as complementary stores of value, both serving as deflationary assets. Ian Kane, CEO of fintech company Firepan, said tokenized gold appeals to investors as it enables them to retain ownership, leverage their holdings for loans, and generate extra yield, while preserving their principal against debasement or devaluation. These views are not new. Earlier this month, Robinhood Markets CEO Vlad Tenev described tokenization as “a freight train” that “can’t be stopped,” predicting it will eventually transform the global financial system. Similarly, in his annual letter to investors in April, BlackRock CEO Larry Fink said the tokenization of assets could fundamentally reshape the way people invest. By digitizing ownership, tokenized venture capital funds could move beyond their closed circles, giving ordinary investors a stake in early-stage innovation and greater control over their capital. Venture capital faces hurdles in tokenization pushWhile tokenization promises greater accessibility and liquidity, not all market segments are ready for it. According to TheStreet, tokenized venture capital (VC) funds could open a traditionally closed market to more investors, but the process is more complex than it appears. In an interview with TheStreet, Elena Obukhova, founder of Supermoon Ventures, said that liquidity, not technology, is the main obstacle. Unlike tokenized company shares that can be traded freely on public markets, VC funds invest in private startups whose value may take years to materialize through an exit or acquisition. Allowing such funds to trade freely could increase volatility and pressure founders, as interim valuations might distort perceptions and weaken confidence in early-stage ventures. Still, the promise of tokenized venture finance remains within reach. Firms are testing models that limit trading periods, protect investor data, and refine valuation methods to better reflect the illiquid nature of startup investments. Since liquidity events such as initial public offering (IPOs) or acquisitions typically occur only every one to two years for early-stage startups, the path forward will depend on creating systems that can maintain stable and accurate valuations in the interim. Tokenization is rapidly emerging as a transformative force in the financial world, offering greater accessibility, liquidity, and efficiency. As more assets, from gold to venture capital, make their way onto the blockchain, the potential to reshape investment and trading markets grows. While challenges remain, particularly around liquidity and valuation in sectors like venture capital, the continued advancements in tokenization demonstrate its key role in the future of finance.

GroundX releases membership NFT for JND Studios’ character figures on Klip DropsGroundX, the blockchain subsidiary of South Korean conglomerate Kakao, has teamed up with JND Studios — the only hyper-realistic figure maker in South Korea — to drop a membership non-fungible token (NFT) collection on Klip Drops, its digital art curation gallery and NFT platform, according to an official announcement on Monday (local time).Photo by Choong Deng Xiang on UnsplashExclusive accessJND Studios’ figures are known for being hard to acquire, as they are often made in small batches that sell out quickly. Owners of the membership NFT will get the exclusive opportunity to be the first to purchase products from the company’s K-Star Figures lineup, which features figures of popular characters from South Korean movies and dramas. This will allow the NFT owners to secure the items before their official release without the risk of them selling out prematurely.The first character from the lineup — actor Choi Min-sik as Oh Dae-su from the critically acclaimed film “Oldboy” — will be gifted to customers who purchase the NFT. The product is valued at KRW 3 million (approximately $2,300), according to JND Studios. A figure of actress Kim Hye-soo as the iconic Madam Jung from the movie “Tazza” will also be unveiled early next year.The sales period for the NFT drop will run until Jan. 3 with a limited quantity available for purchase. Buyers can link their Klip wallet on the JND Studios website, verify the NFTs they own, and then purchase the K-Stars membership NFT to get their hands on the upcoming K-Star Figures.Spearheading NFT integrationGroundX is leveraging Klip Drops to promote the widespread adoption of NFTs by implementing them in diverse sectors, such as art, retail and culture, where they can be used as membership vouchers, tickets or even coupons.

Samjong KPMG, the South Korean division of global accounting firm KPMG, is gearing up to host a seminar on virtual assets. The event is scheduled for Jan. 5 (KST) and is organized in partnership with Xangle, a Web3 data intelligence platform. Earlier this month, the two entities agreed to collaborate in exploring on-chain data relevant to crypto accounting.Photo by Markus Winkler on UnsplashGrowing crypto marketRecently, there has been a notable increase in the crypto market activity in South Korea, with the daily trading volume of virtual assets surpassing KRW 10 trillion (approximately $7.8 billion), equivalent to approximately $7.8 billion. In response to this burgeoning market, South Korea is looking forward to the implementation of the Virtual Asset User Protection Act in July. Additionally, last week, the country’s financial regulators issued the final version of new guidelines for cryptocurrency accounting and disclosure. In light of these recent developments in South Korea's crypto market, the event organized by Samjong KPMG and Xangle aims to bring together crypto entrepreneurs to discuss strategies for adapting to the new corporate regulations concerning accounting, disclosure and internal control. This seminar will provide an opportunity for stakeholders in the crypto industry to prepare for the upcoming regulatory changes, ensuring compliance and effective management in this evolving financial landscape.From market forecast to taxationIn the upcoming seminar, a series of talks are slated to shed light on the shifting landscape of the cryptocurrency market. The first presentation will feature Junwoo James Kim, Co-CEO of Xangle, who is set to present a forecast for the cryptocurrency market in the next year.  Following Kim's presentation, Park Jong-baek, a Partner at law firm Bae, Kim & Lee, will take the stage. Park's expertise in legal matters will guide the audience through the current and forthcoming regulatory trends in virtual assets. Meanwhile, Choi Yeon-taek, Director at Samjong KPMG, will address the practical aspects of the recently released guidelines for cryptocurrency. His discussion will focus on their application in corporate accounting, disclosure and internal control. Xangle’s Co-CEO Lee Hyun-woo will highlight the importance of complying with disclosure rules for virtual asset information, focusing on aspects like circulating supply. Furthermore, Samjong KPMG’s Director Kim Byung-kook will address taxation issues related to virtual assets.Accounting transparency and investor protectionAccording to a report by local news outlet The Maeil Business Newspaper, Park Sung-bae, the head of the virtual asset business consulting division at Samjong KPMG, expressed optimism about the upcoming seminar’s potential impact. He hopes that the event will play a significant role in fostering a healthy cryptocurrency market. The focus will be on changing regulations that aim to enhance accounting transparency and protect investors, underlining the importance of adapting to these changes. Echoing Park's sentiments, Lee from Xangle emphasized the importance of clear and well-defined regulations for the cryptocurrency market, given that such regulations enhance transparency and help maintain the overall health of the crypto ecosystem. He highlighted that despite various challenges and concerns, the crypto market has continued to grow. Lee expressed his hope that the seminar will be particularly beneficial for individuals and organizations involved in Web3 projects, aiding them in navigating and understanding the evolving regulatory environment.