Rotonda Signs Deal with The Sandbox for Blockchain Ecosystem Expansion

Milk Partners Launches Blockchain-Powered Reward Points System in IndonesiaSouth Korean tech company Milk Partners, which operates blockchain-powered reward points platform MiL.k, has announced the official launch of its services in Indonesia, according to a report by local news outlet Etoday. MiL.k simplifies the process of handling and exchanging reward points from multiple companies by offering an integrated platform for users.Photo by Dino Januarsa on UnsplashLocal readinessIn order to provide stable local service, MiL.k has registered as an electronic system organizer (ESO) in Indonesia. Moreover, the platform has implemented a passport and identification card verification system to meet know-your-customer (KYC) requirements.As of today, Indonesian users can download the MiL.k app from the App Store and Google Play. Within this month, they will be able to utilize their reward points from two local companies: GetPlus, a loyalty point integration service, and Indonesia AirAsia, a budget airline.Southeast AsiaTo expand its reach and promote the platform further, Milk Partners has plans to collaborate with local partners on a range of promotional events. Additionally, the company aims to boost its marketing efforts in Southeast Asia, encouraging more businesses and projects to join the MiL.k platform.Cho Jung-min, CEO of Milk Partners, shared his excitement about the official launch of MiL.k in Indonesia, which is a significant step in the company’s global expansion plan. He stressed the commitment to providing reasonable and tangible services and asked for customers’ interest and support in this endeavor.Recent token listingIn line with this development is last month’s listing of the trading pair of MLK/IDR on Indodax, an Indonesian cryptocurrency exchange. MLK stands for Milk Coin, a key currency that can be exchanged for reward points on the MiL.k platform.

Nomura Subsidiary Launches Bitcoin Adoption FundNomura, Japan’s largest investment bank and brokerage group boasting over $500 billion in assets, has ventured further into the world of digital assets by unveiling its Bitcoin Adoption Fund through its digital asset subsidiary, Laser Digital Asset Management.The move signifies a further commitment from the Japanese financial services conglomerate in embracing digital innovation within the financial sector. The fund will cater specifically to institutional investors looking to explore the expanding area of digital assets.Photo by Kanchanara on UnsplashEnabling long-term Bitcoin exposureLaser Digital Asset Management is introducing the Bitcoin Adoption Fund as the first installment in a series of digital adoption investment solutions crafted with institutional investors in mind. The firm announced details of the new fund via a press release published to its website on Tuesday.The primary objective of this fund is to provide institutional investors with a long-term avenue for exposure to Bitcoin, enabling them to partake in the potential gains offered by the world’s most well-known digital asset.Sebastian Guglietta, Head of Laser Digital Asset Management, underscored Bitcoin’s pivotal role in ushering in a transformative global economic shift and posits that long-term exposure to Bitcoin is the ideal means for investors to harness this profound macroeconomic trend.“Technology is a key driver of global economic growth and is transforming a large part of the economy from analogue to digital,” Guglietta said. “Bitcoin is one of the enablers of this long-lasting transformational change and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend,” he added.Komainu partnershipIn bringing the fund to market, Laser Digital has partnered with digital asset custodian Komainu. Komainu was founded in 2018 as a collaborative endeavor between Nomura, Ledger, and CoinShares.Nomura’s foray into digital assets is by no means a newfound interest. As early as September 2022, the firm had initiated its digital asset venture capital arm, positioning itself at the vanguard of digital innovation. In addition to this, Laser Digital secured a trading license from Dubai’s Virtual Asset Regulatory Authority (VARA) to operate within the United Arab Emirates (UAE).Nomura’s launch of the Bitcoin Adoption Fund is in perfect alignment with the broader trend of heightened institutional interest in Bitcoin-centric investment products. Regulatory bodies globally have granted approval for a range of Bitcoin-focused investment products in recent years, including Bitcoin-based futures exchange-traded funds (ETFs). These developments underscore the growing acceptance of cryptocurrencies within traditional finance circles.Laser Digital was founded by Nomura executives Steven Ashley and Jez Mohideen. Ashley previously led Nomura’s wholesale division while Mohideen was Nomura’s Chief Digital Officer and Co-Head of Global Markets for the EMEA region. The firm has invested in Singapore-based DeFi startup, Solv Protocol.It has registered as a mutual fund via the Cayman Islands Regulatory Authority, while the company has registered for product marketing purposes in Ireland, Luxembourg, and the UK.

McDonald’s Enters the Metaverse with McNuggets LandMcDonald’s, the global fast food giant, has ventured into the metaverse realm to commemorate the 40th anniversary of its beloved Chicken McNuggets, with McDonald’s Hong Kong spearheading the immersive experience.McNuggets Land, a virtual world situated within the metaverse platform The Sandbox, now welcomes enthusiastic players to embark on a quirky adventure filled with pixelated McNugget characters like “Coach McNugget” and his trusty sidekick, “Assistant Coach McNugget.” The project team behind The Sandbox laid out the details of the initiative via a blog post published on Medium on Thursday.In this novel virtual landscape, players are tasked with the mission of locating four McDonald’s signs, sparking excitement for the rewards that await. Among the enticing incentives are a shared prize pool of 100,000 SAND (approximately $44,000) and enigmatic “mystery boxes.” SAND is the native token of The Sandbox virtual world.Photo by Jas Rolyn on UnsplashCustomer engagement challengesThe CEO of The Sandbox, Sebastien Borget, expressed enthusiasm for collaborating with global brands like McDonald’s to drive mass adoption of the metaverse. The Sandbox has already witnessed the presence of several prominent brands like Adidas, Atari, and Gucci within its virtual world. Comparatively, it might be challenging for McNuggets Land to carve out a distinctive niche to capture enduring user engagement.Numerous brands have attempted whimsical activations within metaverses over the years, from Snapple’s virtual bodega to Taco Bell’s metaverse wedding. However, the fundamental question arises when virtual food or drink experiences are introduced — what’s the point when you can’t taste or smell in the metaverse?Bear market & regulatory setbacksMoreover, the timing of brands entering the Web3 space may be subject to scrutiny. With venture capital money flowing toward AI and Disney closing its metaverse ventures, the Web3 landscape faces a more challenging environment in 2023. The ongoing crypto winter and Securities and Exchange Commission (SEC) crackdowns have somewhat dampened the allure of these activations, making it imperative for brands like McDonald’s to offer a compelling “why” for their Web3 endeavors.Starbucks has been experimenting with its Web3 loyalty program called “Odyssey,” which ties in seamlessly with its customers’ real-world coffee purchases. This strategic approach aligns virtual rewards and digital collectibles with existing behaviors, giving added value to their regular activities. In doing so, Starbucks fosters a sense of community and gains valuable feedback for future improvements, ensuring a more sustainable and purposeful presence in the Web3 space.Formative developmentWhile McDonald’s McNuggets Land in the metaverse may excite some players with its whimsical charm, the bigger question remains: What value does it truly bring to the participants, and how does it ensure a lasting impact? In a rapidly evolving Web3 landscape, success lies in offering meaningful experiences that align with users’ existing behaviors and aspirations, fostering genuine engagement and community-building.We are still at a stage where consideration of the metaverse in terms of what it is, what it represents, and what experience users can or should glean from it is still formative. It remains to be seen as to the extent to which Mcdonald's will be successful in this instance, but it is encouraging that they’re brave enough to get involved with the innovation.