Tokenpost and PUNKPOLL launch open beta service for Web3 news polling service

Singapore Pledges $112M to Boost Fintech Solutions Including Web3Acknowledging the growing significance of collaboration with industry stakeholders in propelling advancements in emergent technologies such as Web3, Singapore’s central bank, the Monetary Authority of Singapore (MAS), has unveiled plans to allocate up to 150 million Singapore dollars (approximately $112 million) towards supporting a spectrum of financial technology solutions, with a special focus on Web3.Photo by Jason Leung on UnsplashDistributed over three yearsThis financial commitment, outlined in a press release published to the MAS website on Monday, will be distributed over a three-year period as part of the revamped Financial Sector Technology and Innovation Scheme (FSTI 3.0), designed to invigorate and fortify innovation by backing projects that leverage cutting-edge technologies.The renewed innovation scheme encompasses multiple avenues, including the Enhanced Centre of Excellence track, the Environmental, Social and Governance (ESG) fintech track, and the Innovation Acceleration track — the last incorporating the realm of Web3.Emphasizing industry partnershipsMAS underlined the importance of forging partnerships with industry participants to bolster inventive fintech solutions originating from emerging technologies such as Web3.“MAS will conduct open calls for the use of innovative technologies in industry use cases. Grant funding will be provided to support actual trial and commercialization,” the central bank stated.In addition to these efforts, the initiative will maintain its commitment to encouraging adoption across domains like artificial intelligence, data analytics, and regulatory technology (RegTech). Furthermore, there will be an emphasis on fostering adoption within companies that are still digitally maturing and seeking to integrate RegTech solutions.Applicants across the various program tracks will be required to allocate resources toward nurturing talent. This strategy aims to augment Singapore’s fintech talent pool, ultimately contributing to the nation’s expertise in the sector.Ravi Menon, the Managing Director of MAS, underscored the substantial investment that the Financial Sector Development Fund (FSDF) has funneled into the FSTI program since its inception in 2015.Menon highlighted that this initiative’s overarching objective is to spur innovation and facilitate the seamless integration of novel technologies within the financial landscape. Over the years, the program has exemplified its commitment to driving transformation and pioneering the adoption of new technology across the financial sector.Nurturing Web3 innovationPotential Web3 and crypto hubs have come and gone, but Singapore has been vying to take its place as a center for Web3 innovation over a sustained period after it suffered some setbacks in 2022 related to a string of crypto business failures.While Binance had not been permitted to serve customers in the city-state, that meant that a disproportionate number of Singaporeans got caught up in the failure of the FTX crypto exchange. Alongside that regulatory failure, state investment giant Temasek had to write off a substantial investment in the company, while suffering reputational damage for not having detected the FTX fraud.The city-state has also been home to the failure of crypto lender Hodlnaut and crypto hedge fund Three Arrows Capital (3AC). Despite these setbacks, Singaporean authorities are continuing to work towards setting the proper stage to further develop Web3 innovation. In June, MAS proposed a comprehensive framework for the design of open networks relative to tokenized digital assets. This latest initiative will further Singapore’s ambition to grow its Web3 sector.

Bitget Launches $100M Crypto Ecosystem FundSeychelles-based crypto exchange Bitget has launched its EmpowerX Fund, a $100 million initiative unveiled during Bitget’s fifth-anniversary summit in Singapore on Tuesday.Photo by micheile henderson on UnsplashStrategic investmentThe firm expanded on the finer details of the fund at the summit event and also by way of a press release published to PR Newswire. The primary goal of the initiative is to enrich the platform’s ecosystem by strategically investing in various sectors, including regional exchanges, data analytics firms, and media organizations.Bitget’s approach via this new fund is grounded in diversification to meet the ever-evolving needs of its 20 million global customers. The exchange envisions creating a comprehensive trading ecosystem that encompasses trading, investment, research, DeFi, and media.Gracy Chen, the Managing Director of Bitget, emphasized that the cryptocurrency exchange sector is in a constant state of evolution and with that, the firm has a forward-looking vision that extends beyond the present. Chen stated:“The CEX landscape is continually evolving amid influences of tightened regulations, rapid growth of Layer 2 and DeFi technologies, and we are expecting that more investment, meager [sic] and acquisition will happen in the following months. Our vision goes beyond the present.”She added: “With the launch of the Bitget EmpowerX Fund, we take another major step in our mission to develop Bitget into a truly comprehensive platform for all needs. Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to better serve the evolving needs of users. We also want to empower other people in our industry, because a rising tide lifts all boats.”Broader investment trendBitget’s EmpowerX Fund is part of a broader trend of strategic investments and expansion. In April, the exchange introduced the $100 million Web3 Fund, which focuses on supporting projects based in Asia and partnering with global venture capital firms, including Foresight Ventures, SevenX Ventures, and Gitcoin Fund.As part of that initiative, the firm invested $20 million in Sei Labs, the developers of the layer one Sei blockchain. The strategic direction being taken by Bitget extends beyond digital assets, as Bitget allocated $30 million to invest in the BitKeep multi-chain wallet, which subsequently underwent a rebranding as Bitget Wallet. This investment marked a significant milestone in Bitget’s journey toward embracing decentralized strategies.Diversifying service offeringTo better cater to the evolving needs of its users, Bitget has diversified its service offerings. In addition to traditional trading, the platform has ventured into the realm of crypto loans, a bold move given the difficulties experienced in 2022 by crypto lending firms like Celsius, BlockFi, Hodlnaut, Vauld, and Voyager Digital, who all ended up in bankruptcy.The company has taken a further step towards diversification on Tuesday, announcing the launch of its Bitget Wealth Management product. The firm claims that the product is targeted to meet the needs of high-net-worth individuals and institutions, offering to assist them in optimizing their financial portfolios.Bitget has also adapted to a changing regulatory landscape recently, stepping up its compliance in terms of Know Your Customer (KYC) measures.

South Korean gaming publisher Wemade attended this year’s Taipei Game Show – the largest gaming exhibition in Taiwan – from Thursday to Sunday, where it showcased its upcoming games Night Crows and Fantastic 4 Baseball, according to news site Bridge News.Photo by Mateo on UnsplashUnveiling upcoming blockbustersAt the event, Wemade operated an exclusive booth with game demos and promotional videos. There was also a cosplay of characters from the Night Crows game and a special performance by the TSG Hawks' cheerleading team, the Wing Stars. The TSG Hawks is a professional baseball team that joined the Chinese Professional Baseball League (CPBL) last year. The Wing Stars are led by the famous Korean cheerleader Ahn Ji-hyun. In addition, Lee Jung-wook and Lee Kun-hee, the CEOs of Night Crows developer Madngine, and Fantastic 4 Baseball developer Round One Studio, took to the stage to interact directly with gamers. "Night Crows is the first MMORPG developed with Unreal Engine 5, and you can enjoy top-notch visuals with Mad Engine's unique know-how," said Lee Jung-wook. "We promise to provide new fun and stable services to our global users." "While developing Fantastic 4 Baseball, we put a lot of thought into capturing the essence of baseball and making the players' faces and batting forms look realistic," Lee Kun-hee added. "We plan to bring the game to the global market when the Taiwanese baseball league begins." Market-dominating releasesNight Crows has been popular among gamers in South Korea, where it launched in April last year, topping the popularity and revenue rankings on major app markets. The global version of the game utilizes blockchain technology to implement an advanced tokenomics ecosystem. Global pre-registration will open on Jan. 11. On the other hand, Round 1 Studio’s Fantastic 4 Baseball is a realistic baseball game where players can create their own team with famous players from various leagues, including the CPBL. The demo version includes single-player and home run derbies. Both games are slated for global release in March.