Intella X Teams Up with Web3 Comm Protocol to Boost Game Experience

Ninety Eight launches web3 startup fundNinety Eight, a dynamic ecosystem of Web3 innovators, has unveiled its latest venture, a $25 million ecosystem fund.The company is headquartered in Ho Chi Minh City, Vietnam, with the objective of founding and funding blockchain companies that make Web3 accessible to everyone. The firm was founded by Le Thanh, alongside co-founder and CEO Nguyen Vinh.Photo by Markus Winkler on UnsplashFocus on AsiaThe announcement, made via a blog post to the company’s website on Tuesday, indicates that the fund will support the development of Web3 startups within the Asian region.The project’s primary objective is to nurture the growth and advancement of Web3 startups within a crypto and blockchain sector in Asia that continues to progress and evolve. Ninety Eight takes an approach that encompasses both financial backing and strategic guidance for handpicked startups, with a dedicated team working in tandem to provide insights and facilitate access to its extensive network of industry collaborators.Leveraging ecosystem infrastructureNinety Eight maintains that entrepreneurs can harness its infrastructure and draw upon the depth of its ecosystem. One of the key components of that ecosystem is Viction, formerly known as Tomochain.Viction is a layer-1 blockchain boasting zero-gas transactions and cutting-edge security features. The project claims that Viction creates the ideal conditions for projects to broaden their horizons and enhance their prospects of success.C98 tokenA defining feature of the ecosystem fund is its emphasis on promoting the utility of its native token, C98. Originally conceived as a wallet token, C98 has since transformed into an instrument for propelling Web3 innovation. With its versatile applications, Ninety Eight claims C98 holds the potential to revolutionize the way Web3 applications are conceived, deployed and utilized. Through the ecosystem fund, the company mission is to bolster startups capable of harnessing C98 to craft inventive and impactful solutions.Ninety Eight has incorporated Arche Fund within its offering, with it assuming the role of fund custodian. It also plays a part in overseeing the fund and closely collaborating with selected startups to unlock their full potential. Arche Fund offers value-added programs while equipping partnering businesses with essential tools, resources and invaluable networks.By propelling their pioneering vision, we empower our partners to transform their aspirations into reality. CEO Thanh Le articulated the firm’s mission, stating:“Our path forward is guided by one principle — we are builders backing builders. Thanks to the incredible community that has brought us to where we are today, we are determined to give back. We believe that by supporting talented builders and providing them with the necessary resources, we can drive the adoption of Web3 technologies and shape the future of the decentralized internet.”The firm previously launched its Vietnam Future Fund earlier this year, with a view towards concentrating on propelling Vietnamese Web3 startups forward.Prospective startups considering applying for funding from the Ninety Eight ecosystem fund are being encouraged to submit their applications via the Arch Fund’s submission form.

Korea’s Changwon City Boosts Local Art Scene with NFTsOn Monday, South Korea’s Changwon City announced its plan to support local artists by promoting their work through non-fungible tokens (NFTs). This initiative aims to help artists adapt to the rapidly changing fine art industry, driven by state-of-the-art technology, and stay current with the latest trends.NFT ART in ChangwonThis project “NFT ART in Changwon” came to life after the city partnered with MetaGalaxia, a Korean NFT marketplace, earlier this year.Jung Hyun-sub, head of the city’s culture, tourism, and sports division, has encouraged local citizens to participate in the project and emphasized the city’s commitment to fostering the NFT industry, starting with a focus on local artworks.15 artistsThe application process for the project will run from May 1 to May 30, and 15 artists will be selected. Eligible applicants must be Changwon residents who have either majored or are currently majoring in fine arts or have publicly exhibited their artwork.Artists can submit various forms of artwork that can be turned into NFTs, including paintings, photographs, and videos. Those selected will benefit from registration as NFT artists on MetaGalaxia, digitization of their original artworks into NFTs, and promotion of their artworks and profiles across various social media platforms.© Pexels/Dom J

Coinbase Effects International Expansion By Extending Singapore OfferingIn further proof of Coinbase’s recently-adopted strategy of focusing on global expansion, the company has just extended the range of its product offering to Singaporean customers.Photo by Meriç Dağlı on UnsplashNo Fees on USDCThe move was announced by way of a blog post published to the company’s website on Tuesday. The expansion entails the introduction of fee-less purchases of the USDC stablecoin for users who buy it with the Singaporean dollar (SGD). Furthermore, it is enabling Singaporean customers to earn rewards on the USDC that they hold on the platform. USDC trading pairs are being added that will allow users to trade USDC directly with over two hundred digital assets.Taking staking overseasAdditionally, Coinbase Global is rolling out staking to the Singaporean market. Users will be empowered with the ability to stake the following digital assets: ETH, SOL, ADA, ATOM, and XTZ.It’s interesting that Coinbase feels enabled in rolling out a digital asset staking service in this overseas market. In March of this year, the company received a Wells Notice — a formal notice informing the recipient that there are firm plans to bring enforcement actions against it — from the Securities and Exchange Commission (SEC) in the United States. The notice was sent in relation to digital assets covered under Coinbase’s staking product offering, Coinbase Earn.In highlighting the issue, the company bemoaned the fact that the SEC had gone down the route of issuing a Wells Notice without it expressing a single specific concern about any specific digital asset offered by the platform in advance of taking the action.Global strategyCoinbase Founder and CEO Brian Armstrong has been outspoken in criticizing the regulatory approach to crypto in the United States. He expressed that at the time of having received the Wells Notice earlier this year, and again last week, when he and key Coinbase executives visited Abu Dhabi and Dubai in the United Arab Emirates.On the day of SEC Chair Gary Gensler’s appearance before the House Financial Services Committee on Capitol Hill in Washington, D.C. a few weeks ago, Armstrong signaled that unless there was a more accommodating regulatory approach taken to crypto in the US, Coinbase would increasingly be looking to expand operations overseas.A short time later, it emerged that the company had obtained a license to trade in Bermuda. At last week’s Dubai Fintech Summit, Armstrong applauded the regulatory approach taken by the UAE and indicated that the company is interested in opening a base in Abu Dhabi.Positive survey resultsAgainst this background, it’s not surprising to hear that Coinbase has expanded its service offering in Singapore, another aspiring global hub for crypto business. As part of reviewing and updating its business offering in the city state, Coinbase carried out a survey of prospective customers in Singapore. It found that 25% of Singaporeans consider crypto as the future of finance, on a par with findings in the US, and higher than the 17% reported in the UK.Among its other findings, security concerns and price volatility of digital assets are still a barrier to entry for many. Of those who are already crypto-native, they tend to trade higher trade amounts, and with greater frequency, if from higher income backgrounds.