OKX adds token support for atomicals, runes, doginals and stamps

China’s Fuzhou City Offers Incentives to Entice Blockchain Start-UpsAdministrators in Fuzhou city, the capital and one of the largest cities in China’s Fujian Province, have introduced a raft of policies aimed at enticing blockchain-centric companies to establish themselves in the city.Photo by 尧智 林 on UnsplashMonetary rewardsThe measures are understood to include rent subsidies applicable to the use of commercial office space in the city, as well as the payment of cash rewards based on such start-up businesses hitting various revenue targets. The cash reward incentives are being capped at 500,000 yuan, around $71,800 US dollars, for each applicable project.The city administrators are also offering cash rewards to institutions within the city area and local blockchain firms in cases where they attain government-issued certifications. Another category through which these entities can reap more cash rewards is in providing training services centered upon blockchain technology.A blockchain firm basing itself within the city limits that is successful in attaining state certification reflecting its status as a national level laboratory specializing in blockchain technologies may be awarded as much as 1 million yuan ($144,000).Rent subsidiesThree specific industrial locations are applicable where the rent subsidy is concerned. Blockchain-based businesses wanting to avail of that incentive will have access to an annual rent subsidy of up to 600,000 yuan ($86,300) for every 1,000 square meters of commercial office space that they rent.Stepping up activityThere seems to be heightened activity related to various aspects of blockchain-related technology within China’s borders in recent months. It appears that while the country is taking the initiative with blockchain-related technology, that excludes the development of or open market use of decentralized cryptocurrencies.China has been pursuing a policy of pushing cryptocurrency beyond its borders in recent years, to include bans on cryptocurrency exchanges and crypto miners. However, over recent months, it is allowing this segment of the overall blockchain innovation to develop within the autonomous Chinese territory of Hong Kong. In fact, it’s actively encouraging it. It’s quite a savvy move by the Chinese who don’t want their citizens using decentralized cryptocurrency generally but are quite happy to still participate on a global level in that sector, by having Hong Kong make efforts to become a regional crypto hub.A second strand to its overall strategy appears to be a concerted effort to expand the user base within China of the digital yuan, its central bank digital currency (CBDC). A series of initiatives have been rolled out in an effort to bring the CBDC into active use. China remains the global leader in CBDC development, much further along in that process than its international peers.Lastly, it’s strategically pursuing the development of blockchain-related business, just as this initiative in Fuzhou indicates. The local government initiative is not an isolated one. Last Wednesday, China’s National Blockchain Technology Innovation Center was formally launched. As far back as 2019, Beijing-based smart contract platform Trias has been assisting authorities in Fuzhou in utilizing blockchain in an effort to better manage its electrical grid infrastructure.

NS Studio and Factor Labs to Enhance Military Security with Blockchain TechnologyKorean game developer NS Studio announced on Thursday its collaborative research effort with blockchain-based security solutions company Factor Labs to boost the security system of its specialized virtual reality simulator used in military training centers and multinational security firms.Photo by Filip Andrejevic on UnsplashProtecting special combat forcesThe two companies signed a memorandum of understanding (MOU) to develop a blockchain-based security system to be integrated into military training equipment that aims to safeguard the identity and behavioral data of special combat forces. Factor Labs’ security technology and blockchain expertise will be integrated into NS Studio’s military training programs, facilitating safer training sessions.“Given the fact that special combat forces are important assets whose identities are considered national secrets, we want to amp up the security of the simulation programs that keep a record of their identities and behavioral patterns using blockchain technology,” the two companies said in a joint statement.“We have begun developing the necessary technology for this project and are preparing to implement the security program starting in the latter half of this year.”Blockchain’s role in military securityThis collaboration underscores the increasing role of cutting-edge technologies like blockchain in ensuring the security and privacy of sensitive data not just in the financial context but also in military and security contexts. The combined efforts of NS Studio and Factor Labs are poised to contribute to the advancement of secure training simulations for special operations personnel.

Axie Infinity Teams Up with CyberKongz in Blockchain Gaming RevivalIn a bid to reinvigorate the world of blockchain gaming, Sky Mavis, the company behind the groundbreaking play-to-earn (P2E) blockchain game Axie Infinity, has announced an exciting partnership with CyberKongz, an Ethereum-based non-fungible token (NFT) collection.Together, they are set to develop a more comprehensive gaming ecosystem for the Ronin blockchain. Sky Mavis originated in Vietnam and came to prominence for developing the first major breakthrough for blockchain gaming within the crypto space. The company’s ties with Vietnam continue although it has since established its headquarters in Singapore.While the announcement, made via a blog post published on Tuesday, has sparked curiosity about a brand-new game on the horizon, specific details remain under wraps. Kathleen Osgood, Sky Mavis’ Head of Business Development, revealed that the upcoming game will be designed to be interoperable, seamlessly integrating with existing Axie Infinity experiences.Photo by Bestami Sarıkaya on UnsplashMoving to the Ronin blockchainBut the partnership goes beyond just creating a new game. It also includes the migration of CyberKongz’s popular Play & Kollect game, which is based on the Polygon blockchain. The move to the Ronin blockchain opens up new opportunities for CyberKongz to expand its user base and tap into Ronin’s thriving gaming community.Axie Infinity first captured the gaming world’s imagination in 2021 when it introduced the “play-to-earn” concept. This groundbreaking model allowed players to earn valuable cryptocurrency tokens while playing the game. It quickly became the leading project by sales volume in the burgeoning NFT space, according to data from CryptoSlam. On the other hand, CyberKongz also made headlines in 2021 when it impressively burned $4 million worth of Ether.However, since the NFT craze of 2021, interest in blockchain gaming has seen a decline, with some crypto-based games, such as Neopets, even transitioning to a non-crypto approach.Play-to-earn deficienciesSky Mavis Co-Founder, Aleksander Larsen, acknowledged earlier this year that the play-to-earn model needed improvement to thrive. He emphasized that games must prioritize fun and feature a robust economic system that enables players to earn rewards. Despite this, Kathleen Osgood remains optimistic that the blockchain gaming space can experience a revival through an experience that truly understands the motivations driving users towards Web3.According to Osgood, many teams in the space have merely attempted to replicate what worked in Web2, which may not be enough to drive explosive growth. Instead, she believes that attracting a massive audience lies in taking an innovative approach to leverage the unique offerings of Web3, appealing to users who are naturally drawn to its decentralized and rewarding nature.Gaming evolutionSky Mavis has started opening up its infrastructure to the Web3 ecosystem through the Ronin blockchain. By doing so, it hopes to create gaming communities that are not only more rewarding but also longer-lasting, fostering an environment of engagement and enthusiasm among players.As blockchain gaming continues to evolve, partnerships like the one between Sky Mavis and CyberKongz signal renewed efforts to iteratively improve on previous blockchain gaming models. With a new game on the horizon and the migration of CyberKongz to the Ronin blockchain, the stage is set for a new era of immersive and rewarding blockchain gaming experiences, building upon past efforts.