HashPalette acquisition sees Aptos Labs enter Japanese market

AI sports challenge app Lillius has been selected as the first South Korean project in the Web3, sports and lifestyle categories to participate in the Cronos Accelerator Program, according to an official announcement on Wednesday (KST).Photo by Kelly Sikkema on UnsplashBridging exercise and Web3Lillius is a mobile app that allows users to participate in different sports and exercise challenges that use AI motion detection technology to analyze their form while performing the movements. After they complete a challenge, users can receive rewards based on their score. Notably, some of the challenges feature exclusive lessons from Korean Olympic medalists like taekwondo athlete Lee Dae-hoon, fencer Nam Hyun-hee and wrestler Jung Ji-hyun. Fostering innovationThe Cronos Accelerator Program, operated by global blockchain firm Cronos Labs, is an initiative aimed at nurturing and propelling startups in the Defi, Web3 and blockchain sphere, providing support in areas like technology, tokenomics, marketing, fundraising and more. In particular, participants in the program can receive mentoring and secure investment opportunities from industry experts. All participants are also eligible to receive an immediate stipend of $30,000 and the chance to win a $100,000 follow-up investment from Cronos Labs and its other partners. By participating in the Accelerator Program, Lillius plans to leverage its market potential, product appeal, cutting-edge AI technology and networks across the Cronos chain to become an innovative Web3 sports platform used worldwide.

Singapore and the Philippines Lead Crypto Interest in Southeast AsiaSingapore and the Philippines have emerged as the frontrunners in Southeast Asia’s crypto landscape in 2023, capturing the majority of regional interest.Research carried out by Malaysian cryptocurrency data aggregator CoinGecko reveals that on a per capita basis, Singapore holds a 43.5% share of crypto interest, followed closely by the Philippines with 40.3%.Photo by Kenneth Koh on UnsplashRegional crypto hubSingapore has established itself as a crypto hub not only within Southeast Asia but also in the wider Asia region. It was previously ranked as the third most crypto-curious country globally and has consistently been one of the top Web3 gaming countries for three consecutive years.Other countries in Southeast Asia, including Malaysia, Thailand, Vietnam, and Indonesia, also contribute to the region’s crypto interest, although at more modest levels. Combined, these countries represent 14.7% of the per capita crypto interest in the region so far this year.GameFi driving interestIn the Philippines, crypto interest is primarily driven by GameFi, and the country has maintained its position as the leading Web3 gaming country from 2021 to 2023. The Philippines witnessed the Axie Infinity mania, with local gaming guilds and inspiring rags-to-riches success stories. Additionally, it was among the top countries embracing meme coins earlier this year, alongside Malaysia.Vietnam shares a strong interest in GameFi, placing it among the top Web3 gaming countries for three consecutive years. Thailand and Indonesia have witnessed substantial trading volumes on their crypto exchanges, with $37.94 billion and $23.97 billion respectively in 2022.Notably, Malaysia has a significant presence in the crypto industry, despite its relatively smaller impact. The country is home to two prominent crypto data tools, CoinGecko and Etherscan, which were founded by Malaysian teams and are headquartered in the country.In contrast, smaller Southeast Asian economies such as Cambodia, Myanmar, Brunei, Laos, and Timor-Leste have a combined share of only 1.5% of regional crypto interest per capita. While these markets remain largely untapped, their low adoption rates are unlikely to improve in the near term. Except for Brunei, which is a wealthy nation, the smaller Southeast Asian economies are categorized as lower-middle income countries.Regarding the specific cryptocurrencies drawing attention in Southeast Asia in 2023, Layer 1, GameFi, meme coins, and DeFi-related crypto have emerged as the most popular categories. The top-ranking cryptocurrencies within these narratives account for 22.2% each of the region’s interest so far this year.The Philippines, as the top Web3 gaming country, showcases three GameFi cryptocurrencies — Smooth Love Potion (SLP), Ronin (RON), and Wemix (WEMIX) — among its most popular choices. Malaysian investors also show interest in DeFi projects like Maple (MPL) and BoringDAO (BORING), in addition to Bitcoin.Singapore’s popular crypto choices include The Graph (GRT), Bitcoin (BTC), and Pepe (PEPE). Vietnam demonstrates ongoing interest in Aptos (APT) and privacy tool Bob (BOB), while Thailand focuses on Gala (GALA) and Canto (CANTO). Finally, Indonesia monitors Not Financial Advice (NFAI) and AirSwap (AST).Overall, Singapore and the Philippines lead the way in crypto interest within Southeast Asia, while other countries in the region also contribute to the evolving crypto landscape.

Singapore-based cryptocurrency trading platform BingX has secured a sponsorship deal as the new sleeve sponsor for Premier League football club Chelsea.Photo by Chaos Soccer Gear on UnsplashJanuary 9 debutThe arrangement, spanning the next six months, is expected to debut during Chelsea’s Carabao Cup semi-final first-leg match against Middlesbrough on Jan. 9. As part of this sponsorship, BingX will prominently feature on the front of Chelsea’s training kits for the upcoming 2024/25 season. Meanwhile, the current shirt sponsor, Infinite Athlete, will transition to a training sleeve sponsorship starting next season. While details about the fate of Chelsea’s training kit deal with Trivago, an online hotel booking site, remain uncertain, the club is navigating sponsorship changes in the wake of owner Roman Abramovich’s prior ownership and UK government sanctions. Corporate rebrandEstablished in 2018, BingX operates as a cryptocurrency exchange headquartered in Singapore, catering to a user base of over 10 million in Southeast Asia and North America. In November, the company announced that it was rebranding the business. Part of that process was understood to involve an overhaul of BingX’s visual identity, with the introduction of a streamlined logo. Sponsorship within the English Premier League is a high profile marketing move that will undoubtedly bring more visibility to that brand. Crypto marketing spend reboundThe marketing spend of crypto firms relative to high profile sponsorship deals has recovered significantly in recent months. Such sponsorship deals peaked at the top of the crypto market in 2021. That period saw profligate spending by many of the large crypto platforms. A standout example was provided by the $135 million sponsorship deal signed by fraudulently run crypto exchange FTX for the Miami Heat stadium naming rights in the United States. While that opulent sponsorship spending subsided during the bear market, it appears that there has been a modest resurgence as market conditions have improved. Seychelles-based crypto platform OKX has ongoing marketing relationships with the McLaren Formula One racing team and Manchester City Football Club. In March, U.S.-based crypto exchange Kraken announced a marketing partnership with the Williams Formula One racing team. Earlier this week it emerged that crypto gambling platform Stake.com had signed a sponsorship deal with the Sauber Formula One team. 18 of the 20 English Premier League clubs are now understood to have agreed sponsorship deals at one time or another with crypto companies. This demonstrates the growing trend of cryptocurrency platforms associating with high-profile sports partnerships, enhancing their visibility and influence in the market. Chelsea is actively seeking a front-of-shirt sponsorship deal, considering potential collaborations, including discussions with Saudi national carrier Riyadh Air. It’s understood that the BingX deal has been agreed for in excess of £10 million ($12.7 million) per season.