Late Korean artist Lee Jung-seob’s ‘Bull’ NFT on auction at OpenSea

ONEUNIVERSE Holds Second NFT Sale for Champions ArenaSouth Korean metaverse developer ONEUNIVERSE said Wednesday it is holding its second sale of non-fungible tokens (NFTs) in celebration of the upcoming release of its newest AAA Web3 game, Champions Arena.Photo by Stefan Gall on UnsplashFueling earningsThe NFTs, called Champion NFTs, will play a pivotal role in boosting the core Play-to-Earn (P2E) feature of the game. Players must possess Champion NFTs in order to earn victory points, or VPs, within the game’s central hub called the Arena. These VPs can then be converted to and distributed as Gala (GALA), the native token of the game’s publisher Gala Games.The amount of VP that a player can acquire depends on factors such as the quantity and ranking of the Champion NFTs in their collection, as well as their tier ranking. Hence, more Champion NFTs means more VPs.“We are delighted to meet the demand of gamers who are eager to purchase NFTs leading up to the official release of Champions Arena. Through this sale, our goal is to ensure that as many users as possible can experience one of the core functionalities of the game — earning — right from the initial launch,” said Choi Won-jong, Chief Business Officer of ONEUNIVERSE.Global launch and exclusive offersChampions Arena will launch globally at 5 PM PT on August 23 as a mobile and PC game with the exception of South Korea and select countries, according to Gala Games. The NFTs will be available for purchase on the Gala Games official website starting today until the launch. They will be packaged within “Champion Boxes” that contain one of 18 different playable Champions, including those in the highest tier of Legendary.There is also an exclusive 30% discount event running until 3 PM on August 21.

EDUM – a blockchain project run by educational and professional services provider Jinhak’s subsidiary Dream Ladders – has signed a strategic business deal with Web3 firm Metaverse.Network (MNet), according to an article published by South Korean news outlet Maeil Business Newspaper on Friday (KST). Through this agreement, EDUM will be able to strengthen its Web3 platform to help promote effective learning and implement various services within metaverse parameters.Photo by Kelly Sikkema on UnsplashLearning for everyoneEDUM is a Study-to-Earn (S2E) blockchain project that aims to provide learners with affordable, high-quality educational services. Users will be able to earn rewards in the form of EDUM or EDUMP tokens when using different functions on the EDUM mobile application. EDUM is the project’s market-based utility token that can be cashed through external exchanges or even swapped with EDUMP, which has a fixed value and can only be used within the EDUM ecosystem. EDUMP tokens can also be used for purchasing NFTs or lectures on the EDUM platform. MNet’s technological prowessMeanwhile, MNet is a blockchain network operated from headquarters in Singapore. Backed by an Ethereum Virtual Machine (EVM) and WebAssembly (WASM) smart contract playground, builders can develop Web3 decentralized applications (dApps) for Web2 users. Notably, it has secured an investment from global blockchain investment company Animoca and is a key technological partner of the blockchain platform Polkadot. "We will continue to expand the success story and ecosystem of the EDUM project through continuous partnerships with various companies," said Yoo Sung-won, CEO of Dream Ladders. EDUM also recently teamed up with layer 1 blockchain XPLA to expand blockchain-based educational services and increase the role that Web3 can play in various fields.

Industry leaders are turning their attention to Hong Kong as a notable location for spot bitcoin exchange-traded funds (ETFs). That speculation arises in anticipation of the United States granting approval for such ETFs, with Hong Kong emerging as a likely frontrunner in Asia. In a recent report, The Block spoke with a couple of prominent industry stakeholders, who appear to acknowledge the significance of moves towards seemingly expanding crypto ETF product offerings in Hong Kong, even though the bulk of the industry’s attention has been on U.S. spot bitcoin ETF approval.Photo by Simon Zhu on UnsplashU.S. ETF expectationsOn Monday, the research arm of crypto derivatives platform BitMEX calculated that the arrival of such a product in the United States could dwarf the total value locked within existing crypto-related exchange traded products (ETPs). Earlier this month, a researcher at crypto asset manager Bitwise suggested that U.S. spot bitcoin ETFs would be the most successful ETF products ever launched. Acknowledging Hong Kong’s positionWith all the focus on the U.S., could it be that Hong Kong will play a far greater role in the global crypto ETF business? Yat Siu, the chairman of Web3 investor Animoca Brands, highlighted the encouraging position of Hong Kong’s Securities and Futures Commission (SFC) toward digital assets, laying a foundation for potential spot bitcoin ETFs. Referring to the SFC’s recent statement expressing openness to expanding access to digital assets, Siu emphasized the relatively uncontroversial nature of a spot Bitcoin ETF. He noted: “If you look at what the SFC had said about I think a month ago, it says that it was open to widen access to digital assets. And frankly, Bitcoin spot ETF is, I would say, relatively uncontroversial at the end of the day.” Poised to usher in spot ETFsAs the U.S. inches closer to approving its first spot bitcoin ETF, Hong Kong could likely follow suit, benefiting from the groundwork already laid by U.S. regulators. In fact, just last week both local regulators, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), signaled that they are happy to start to accept applications for the provision of crypto-related spot ETFs. Siu pointed out the abundance of public filings and applications that Hong Kong authorities can reference in shaping their regulatory framework. Julia Leung, SFC CEO, stated in November that the regulator was evaluating spot crypto ETFs while expressing openness to proposals leveraging innovative technology for efficiency and enhanced customer experience. Presently, Hong Kong has listed several futures-based crypto ETFs, including the Samsung Bitcoin Futures Active ETF, CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF. Glenn Woo, Head of Sales of APAC at Web3 infrastructure company Blockdaemon, echoed the positive sentiment, noting that while traditional asset managers may have lingering concerns, there is a prevailing appetite for such financial instruments in Hong Kong. Woo, drawing on over a decade of experience in the traditional financial industry in Hong Kong, emphasized the growing interest, anticipating that the appetite will expand further once the U.S. approves its first bitcoin ETF. Hong Kong’s long-standing reputation as a global financial center, combined with the potential of crypto ETF products, will likely boost crypto adoption in the region and the significance of Hong Kong’s role in the sector with it.