Foblgate adds D’CENT and Trust as supported external wallets

Netmarble F&C, a subsidiary of South Korean game developer Netmarble, has taken action to lay off employees by notifying all 70 workers under its Metaverse World project to resign, according to industry sources on Friday (KST). Metaverse World, which had begun developing an IP-based metaverse platform, will be abandoned during an upcoming corporate reorganization process. Photo by julien Tromeur on UnsplashA brief journey from ambition to abandonmentMetaverse World was launched by Netmarble in 2022 by acquiring blockchain gaming platform ITAM Games and Web3 wallet developer Bono Technologies. It had been scheduled to hold a closed beta test last year, but no news of the development has resurfaced since then.  However, it was revealed today that the project will be abandoned during the corporate reorganization process. "We have been looking for a sustainable direction to take the project, but business conditions and market changes have pushed us to make the difficult decision to terminate the Metaverse World corporation, which was developing a metaverse platform,” a representative from the company disclosed. Fluctuating trendsThe metaverse first gained traction during the COVID-19 pandemic, when gatherings were limited to online spaces. Since then, the industry and other related technologies like Web3, blockchain and NFTs also garnered significant attention, with various companies snagging investments to fund their projects. However, as the attention of tech and investment firms has shifted to AI, these companies have increasingly found themselves in difficult positions. Last September, Com2Verse, the metaverse arm of content provider Com2uS Holdings', also began streamlining its workforce, organizing voluntary retirement and transition arrangements for its employees.

Chinese Pull Crypto TV Video Following Binance CEO’s CommentsEarlier this week, a Chinese state-owned TV channel featured a segment shedding light on Bitcoin, emphasizing its surging popularity and widespread adoption. The piece, broadcast on China Central Television (CCTV) on Wednesday, was met with enthusiasm from crypto proponents. However, on Thursday the video was removed from the TV broadcaster’s platform.Photo by Road Trip with Raj on UnsplashA perceived policy shiftThe segment sought to provide viewers with a comprehensive overview of digital assets, their diverse applications, and potential benefits. The reaction of Changpeng Zhao (CZ), CEO of global crypto exchange Binance, stoked up further community interest. Taking to Twitter, CZ stated:“CCTV (China Central Television) just broadcasted crypto. It’s a big deal. The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.”CZ’s tweet reverberated throughout the crypto space, leaving many curious about his perspective on the TV segment’s significance. A highly influential personality in the crypto sector, CZ later clarified his stance, asserting that the segment signaled a shift in China’s approach to cryptocurrencies. He proposed that the state media’s coverage reflected a more positive sentiment and hinted at a potentially evolving regulatory landscape.Video removalSoon after CZ’s comments, the Chinese state media broadcaster removed the video segment focusing on Bitcoin. This development raised eyebrows and fueled speculations regarding the motives behind its removal. Within the crypto community, many speculated that CZ’s mention of the segment might have prompted Chinese authorities to take it down. However, the precise reasons behind the removal remain uncertain.One of the events that triggered the video segment appears to have been news earlier this week that Hong Kong is moving to enable crypto trading at a retail level. There’s been significant reporting on crypto developments related to Hong Kong over the course of the past six months. There has been a notable policy shift, and it appears that Chinese authorities are happy to see Hong Kong compete openly to become a regional hub for the crypto sector.There’s no doubt that people in the crypto sector would like to see signs of a softening of the approach to crypto in mainland China too. Many might have perceived this TV airtime as an indicator of that. However, it’s more likely that the Chinese are pursuing a dual-pronged strategy. They’re very cleverly participating in the developing innovation in digital assets via the Chinese autonomous territory of Hong Kong, while at the same time, maintaining a hardline stance against crypto on the mainland.The crypto sector continues to progress, and the regulatory landscape is ever-changing within various jurisdictions. On that basis, and given the importance of the Chinese market, it’s worthwhile to continue to closely monitor China’s actions. Any changes in the country’s approach to cryptocurrencies can have far-reaching consequences for the industry.Whether this recent event signals a more optimistic outlook or merely underscores the persisting regulatory uncertainty, it serves as a reminder that the crypto landscape is in constant evolution, holding surprises around every corner.

Korbit CEO partakes in anti-drug relay campaignSouth Korean cryptocurrency exchange Korbit’s CEO, Oh Se-jin, has joined the No Exit anti-drug campaign — a nationwide relay campaign launched in April by the National Police Agency, the Korean Association Against Drug Abuse and other relevant institutions to raise public awareness about the dangers of drug addiction and promote a collective effort to prevent drug-related crimes, according to local news outlet ET News on Wednesday (local time). So far, numerous figures across various sectors and industries have participated, including actor Choi Bool-am and the president of the Korean Nursing Association Kim Young-kyung.Photo by Hal Gatewood on UnsplashEncouraging collective vigilanceThe campaign’s slogan draws a metaphor between drugs and a maze that cannot be escaped once it has been entered. Participants in the campaign are obligated to share photos with a message that reads, “Do not start drugs — it is a maze with no exit”, and nominate the next participants.“I hope that all citizens will realize the seriousness of drugs through the No Exit campaign, and I aspire to contribute to creating a safer society. Korbit will fulfill its social responsibility in the cryptocurrency industry and contribute to building a healthier society,” Oh said.Next participantsOh was tagged in the campaign by Lee Hyo-jin, CEO of the peer-to-peer (P2P) financial services company 8Percent. In turn, he nominated Lee Sang-ho, CEO of HSBC’s Korea office, and Kim Ji-yun, CEO and Co-founder of DSRV Labs, as the next participants.