Crypto.com joins hands with AI fashion-tech firm Altava Group

Daegu to host first-ever metaverse expo on Nov. 8South Korea’s Daegu Metropolitan City is set to host its first metaverse expo called the “ABB Big Show” from Wednesday to Friday (local time) at the EXCO convention center as part of efforts to stimulate and promote the metaverse industry — a key industry that was notably earmarked as a growth engine in last year’s eighth nationwide local elections. Despite more recent concerns about the sector due to worsening domestic and international economic conditions and reduced investments, the global market continues to recognize its high potential, as divulged at CES 2023, one of the biggest tech events in the world. Daegu has thus stepped up to promote the latest metaverse technologies and content across diverse industrial, administrative and educational services.“The metaverse industry represents a new field that symbolizes a digital era with infinite opportunities and possibilities,” said Choi Woon-baek, Director of the city’s Office for Future Innovation Growth. “I hope that this event will be a meaningful time for citizens to experience firsthand the advanced metaverse technology that is poised to change our future lives.”Photo by GuerrillaBuzz on UnsplashA confluence of metaverse innovation and technologyUnder the theme of exploring the link between reality and the virtual realm, the ABB Big Show — ABB is an acronym for AI, blockchain and big data — will be hosted by Daegu and jointly organized by the Daegu Gyeongbuk Metaverse Industry Association, the MICE Industry Research Institute and local news outlet Yeongnam Ilbo. It will also be held simultaneously with this year’s ICT Convergence Expo Korea and the ABB Hackathon. Of the 156 total companies that are scheduled to participate in the shared event, 32 of them are metaverse companies, the city said.These companies are set to introduce various cutting-edge metaverse technologies through hands-on activities and exhibitions, many of which come with prizes and special events for visitors. In particular, creative media content company YDesign Lab plans to set up a futuristic Instagram photo zone for visitors using immersive anamorphic technology, while mixed reality (MR) content provider DG Entertainment will showcase its motion recognition technology.Other individual guests plan to give lectures on the prospects of Korea’s metaverse industry and propose related policies to push these prospects in a promising direction. The second day of the expo will host a conference featuring Ahn Jong-bae, President of Hansei University’s Future Creativity Campus, who will deliver a keynote speech on the role of artificial intelligence (AI) in changing the future and the metaverse industry.Daegu’s ambitious projectsDaegu is also pursuing several other big-budget projects to foster its regional metaverse ecosystem, including the construction of a metaverse hub in the greater metropolitan area that will serve to support related businesses and cultivate metaverse experts. Also on the city’s agenda is the development of a “Daegu World” metaverse that leverages regional intellectual property in the realms of tourism, education and culture to give citizens unique virtual experiences.

Xsolla and Crypto.com Collaborate on Gaming Industry Payment SolutionXsolla, a well-known American company in video game commerce, has joined forces with Singapore-headquartered crypto platform, Crypto.com, to unveil an innovative partnership.The crux of this collaboration, which was announced via a press release published on Tuesday, lies in the seamless integration of Crypto.com’s cutting-edge checkout solution into Xsolla’s Pay Station platform.Photo by Andrey Metelev on UnsplashSetting the stage for crypto paymentsThe integration marks a significant stride forward for the gaming industry, ushering in new frontiers for both game developers and players. The collaboration sets the stage for the acceptance of cryptocurrency payments and the optimization of transactions within a secure and user-friendly environment, attempting to elevate the overall gaming experience to new heights.In an era dominated by digital payment methods, this development promises players a diversified array of transaction options, harmonizing with the digital and metaverse landscapes. Additionally, this collaboration stands as a milestone for Crypto.com’s endeavor to establish a strong foothold and network within the gaming realm.Eric Anziani, President and COO of Crypto.com, highlighted the immense potential lying at the crossroads of gaming and Web3. “By joining forces with a global gaming titan like Xsolla and harnessing our collective assets and expertise,” Anziani stated, “we are concretizing this potential, empowering developers, publishers, and players to seamlessly participate and create value within the crypto economy.”Xsolla’s Pay Station, renowned for enabling in-game purchases across over 200 regions using an array of compliant payment providers, is poised for an exciting evolution with the impending integration of Crypto.com Pay. This upcoming synergy promises a wider horizon for developers and publishers, enabling them to tap into diverse player demographics and access vibrant markets and novel revenue streams.Integration of Crypto.com PayChris Hewish, CEO of Xsolla, expressed his enthusiasm for the partnership:“Our collaboration with Crypto.com is a remarkable milestone, especially with the substantial integration of Crypto.com Pay into our Pay Station platform. As the gaming landscape evolves rapidly, our adaptability becomes paramount. The integration of cryptocurrencies as a mode of payment offers game developers and players an ingenious payment solution in harmony with the global shift toward digital currencies.”The alliance has the potential to be impactful within the gaming industry, heralding a paradigm shift toward an all-encompassing and secure gaming ecosystem. Patrick Yoon, General Manager of Crypto.com Korea, added to the sentiment, expressing eagerness for the future:“Our journey with Xsolla marks a crucial stride, kickstarting a broader collaborative venture in Korea and on the global stage. We eagerly anticipate our ongoing collaboration with Xsolla in propelling payment ecosystems and digital asset adoption forward.”Blockchain and crypto-based projects have been slowly making greater in-roads into the enormous gaming market. That has manifested itself through the inclusion of blockchain within games themselves and, as in this instance, through the integration of crypto-based payments.As Xsolla and Crypto.com meld their strengths, the gaming industry braces itself for an era of inclusive and secure payment solutions with a promise to redefine the gaming experience.

FD International joins hands with Lbank to expand global blockchain ecosystemFD International, the parent company of blockchain consulting and IT company Blockchain Innovation, announced on Friday (local time) that it has signed a memorandum of understanding (MOU) to collaborate with the global cryptocurrency exchange LBank.Photo by Shubham Dhage on Unsplash“Blockchain-related industries are growing exponentially worldwide, and we hope to create an ecosystem that can have a positive impact on many people through our well-prepped collaboration with LBank,” said FD Group CEOs Jeon Da-seul, Lee Seo-yeon, and Jeon Sol.Lbank’s global presenceEstablished in 2015 in Indonesia, LBank currently boasts a user base of over 10 million people and a daily trading volume of up to $1.5 billion. It currently supports over 50 fiat currencies, several major cryptocurrencies like Bitcoin and Ethereum and a wide variety of payment methods including Apple Pay. It also operates branches in other countries like the U.S. and Canada.Navigating regulatory landscapesFD International has been working on creating Travel Rule solutions for Korean exchanges such as Bithumb, Coinone and Korbit in accordance with relevant regulatory guidelines like the Act on Reporting And Using Specified Financial Transaction Information. The Travel Rule refers to the Financial Action Task Force’s (FATF) Recommendation #16, which outlines that VASPs must share certain personal information about customers — including names and account numbers — when facilitating crypto transactions that exceed a certain amount.The firm has also been leveraging its expertise in the blockchain and IT fields to help accelerate major companies such as Klaytn and Everscale. Notably, the company adapts its solutions and technological capabilities to regulatory trends, such as the Financial Services Commission’s (FSS) regulations on security token offerings (STOs) and the European Union’s Markets in Crypto-Assets Regulation (MiCA) legislation.