KONKRIT NFT Platform Offers Exclusive Reservation Tickets for Hyundai Card’s Cultural Festival

NADA Protocol, a blockchain content platform and operator of the Play-to-Earn (P2E) NFT game Slime World, has forged a global investment partnership with IT investment firm Algorithm X, according to an article published by South Korean online news site Interview 365.Photo by Chris Liverani on UnsplashStrategic alliance"Through this partnership with AIgorithm X, we will accelerate our efforts to attract global investments. Also, by leveraging Algorithm X's infrastructure, we will expand our presence in the global market and create more partnerships with various companies in the future," NADA Protocol explained. Revolutionizing the blockchain industryNADA Protocol is a platform specializing in the production of blockchain content. It is most known for Slime World, which runs on the NADA Protocol Token – a Hedera-based reward token that is currently priced at approximately $0.03 on CoinMarketCap. The game surpassed one million global downloads in less than a month after the release of the updated version.  Meanwhile, Algorithm X is a company led by a group of financial experts from JPMorgan and professionals in the blockchain industry that manages global digital assets through proprietary trading. The company specializes in discovering and fostering promising projects and companies through global investment consultations and marketing campaigns.

DigiFT, a Singapore-based regulated exchange for real-world assets (RWAs), has brought its latest product offering to the digital asset market by introducing its U.S. Treasury bill depository receipt (DR) tokens. These tokens offer investors fractional ownership in U.S. Treasury bills, providing an avenue to engage with the traditionally secure U.S. debt market without requiring significant upfront capital, as detailed in a press release issued by the company on Monday.Photo by Karolina Grabowska on PexelsDemocratizing market accessThe conventional route to investing in U.S. Treasury bills typically demands substantial financial resources. DigiFT's DR tokens aim to democratize access to this market by enabling investors to purchase fractional shares of these bills. Henry Zhang, the founder and CEO of DigiFT, highlighted the innovative nature of the DR structure, noting its capacity to address challenges within the current market and empower investors with direct ownership of assets and returns. Zhang emphasized the company's intent to expand the scope of traditional financial assets in the Web3 space, leveraging the DR model to enhance investor protection and transparency. The DigiFT U.S. Treasury Tokens (DRUST) represent the inaugural offering in a series under the DR structure. These DR tokens, a type of security token, offer fractional ownership of an underlying asset. In the case of DigiFT, these tokens are specifically backed by U.S. Treasury bills, providing investors with exposure to the secure US debt market. Each DRUST token is directly backed by AA+ rated, highly liquid and short-term U.S. Treasury Bills, offering stability and tailor-made solutions for stablecoin issuers and Web3 product developers seeking regulatory-compliant treasury and cash management options. Pursuing regulatory complianceIn its latest announcement DigiFT has outlined its intention to pursue regulatory compliance, a facet intended to instill confidence and assurance among investors. Having been established in 2021 and previously operating within the Monetary Authority of Singapore's (MAS) FinTech Regulatory Sandbox, DigiFT obtained a Capital Markets Services (CMS) license and was acknowledged as a Recognised Market Operator (RMO) in December 2023. By adhering to regulations, DigiFT aims to simplify the investment process and broaden accessibility for investors. DigiFT highlights that institutional and accredited investors can access DRUST tokens from authorized self-custodial wallets using fiat currency or stablecoins, providing flexibility and convenience. Growing popularityThe growing popularity of tokenized funds, particularly those tied to U.S. treasuries, is evident in recent reports. Moody’s revealed a surge in the value of tokenized funds, driven by the increasing tokenization of U.S. treasuries. Both public and private blockchains are witnessing the inclusion of various assets, reflecting a broader trend toward asset tokenization. Tokenized funds offer numerous benefits, including enhanced liquidity, accessibility, reduced costs, fractionalization, decreased reliance on intermediaries, shortened settlement times, automated processes through smart contracts and improved transparency. Last June, Hong Kong-based cryptocurrency firm Finblox provided details of a tokenized version of U.S. Treasury Bills it has been working on. In November, the Bureau of the Treasury in the Philippines announced the issuance of one-year tokenized bonds to the value of $179 million. Binance Research has identified real-world asset tokenization as a key theme in crypto for 2024, noting its potential to improve transparency and efficiency by bringing off-chain assets onto blockchain networks.

NEOPLY Receives Support from Abu Dhabi for Blockchain Expansion in UAENEOPLY, the open blockchain platform of South Korean investment holding company Neowiz Holdings, is set to receive support from the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE) through its Innovation Programme, which provides incentives to a wide range of businesses in financial services, technology, and other high-growth areas, according to a press release.Photo by Kamil Rogalinski on UnsplashFinancial & non-financial supportWith the assistance of ADIO, NEOPLY will establish its global headquarters, H-Lab, for blockchain businesses in the Abu Dhabi Global Market (ADGM). H-Lab will benefit from both financial and non-financial support, including incentives, fee exemptions, and regulatory advantages concerning cryptocurrencies and blockchains. Moreover, H-Lab intends to collaborate with local universities to develop education and scholarship programs focused on Web3 and decentralized finance (DeFi).Operations in MENANEOPLY’s inclusion in the Innovation Programme of ADIO demonstrates the competitiveness of the blockchain project, providing it with the opportunity to expand its operations in the Middle East and North Africa (MENA) region. By leveraging the support, infrastructure, and talented workforce available through ADGM, the company will forge partnerships with leading global firms residing in the capital of the UAE to enhance its global presence.Korean firms in Abu DhabiAbu Dhabi has been increasingly attracting Korean companies. ADIO, an affiliate of the Abu Dhabi Department of Economic Development, was established in 2019 as part of the country’s initiative to promote non-oil industries and draw in advanced technology companies. In 2021, ADIO opened an office in Seoul to support the entry of innovative Korean firms into the UAE. Thanks to these efforts, several Korean enterprises, including cloud operations services company Bespin Global, hospitality tech company H2O Hospitality, and smart farm operating group K-BTS Consortium, have established entities or expanded their operations in Abu Dhabi.DeFi regulatory frameworkNEOPLY’s H-Lab will collaborate with ADGM to facilitate its development of a regulatory framework for DeFi, aspiring to become one of the world’s first regulated DeFi providers. The NEOPIN protocol, a centralized decentralized finance (CeDeFi) platform developed by NEOPLY, will work closely with ADGM’s Financial Services Regulatory Authority (FSRA) to establish an efficient and effective regulatory framework.Abdulla Abdul Aziz Al Shamsi, Acting Director General of ADIO, said, “Abu Dhabi’s enabling environment, coupled with the availability of world-class infrastructure and skilled talent, has positioned the UAE capital as a leading destination for investment in the Middle East. NEOPLY joins a wave of other innovative South Korean companies choosing Abu Dhabi as the catalyst for their next growth phase. They are joining a thriving innovation ecosystem and bringing new ideas and solutions to life in the UAE capital.”NEOPLY CEO Park Jin-ho stated, “With ADIO’s support, we are establishing our global headquarter in the heart of Abu Dhabi, which fills us with great anticipation for our financial innovation in the Middle East. With the active support of ADIO, the collaboration with ADGM, and the infrastructure of Abu Dhabi, we are committed to setting new standards in the global blockchain industry.”