Korea’s FSS to Collect Public Comments on Financial Statement Guidelines for Virtual Asset Entities

Mobile Strategy Game ‘EF Defense’ to Launch on Immutable zkEVMWeracle, the Singapore-based developer behind the popular mobile game Endless Frontier, is gearing up to deploy its latest creation, EF Defense, on the Ethereum scaling network, Immutable zkEVM.The tower defense strategy game, currently available on iOS and Android, will receive a significant boost with this move, opening up new opportunities for players and integrating blockchain technology into its gameplay.Photo by Catherine Kay Greenup on UnsplashPlay-to-earn gameEF Defense, a play-to-earn game with stunning visual aesthetics similar to Endless Frontier, transports players to the Land of Abundance, where they must fend off a dark and menacing force threatening the continent of Akaros. Armed with 70 diverse heroes and an array of customization options, players will embark on an epic quest to protect their territory and claim rewards for their strategic prowess.Immutable, a prominent Web3 games publisher headquartered in Australia, is partnering with Weracle to facilitate this transition. The move to the Ethereum scaling network brings the potential for even greater in-game experiences, enhanced security, and unique ownership opportunities through non-fungible tokens (NFTs). While EF Defense already offers hero characters as NFTs on the Ethereum scaling network Polygon, the specific utilization of NFTs and tokens on Immutable zkEVM remains undisclosed.The gaming industry veterans behind MagmaByte have also caught the NFT wave with their upcoming release, Galaxy Commanders. This player-versus-player (PvP) space shooter, developed by former talents from major gaming companies like Electronic Arts (EA), NCSoft, and Nexon, will utilize the Immutable zkEVM network for its launch. Players can expect action-packed space battles and cooperative planetary conquests, utilizing various strategies to claim victory.Based on PolygonImmutable zkEVM is based on Polygon’s zkEVM technology, a layer-2 Ethereum scaling network specially designed for gaming. This integration promises faster and more cost-effective transactions compared to the Ethereum mainnet, ensuring a seamless and enjoyable gaming experience. To cater to gamers new to Web3, Immutable is also working on developing the Passport, a user-friendly wallet to facilitate easy interactions with blockchain-based games.Weracle’s involvement with blockchain gaming through EF Defense is likely to be just a starting point. The studio has ambitious plans to launch more crypto games in the future, cementing its position in the evolving landscape of blockchain-based gaming. Additionally, a digital Weracle Wallet is in the works, intending to create a holistic ecosystem for players and collectors alike.Andrew Sorokovsky, VP Of Global Business Development at Immutable, expressed enthusiasm for Weracle’s transition into Web3 gaming, acknowledging the team’s expertise in the traditional gaming space and predicting significant strides in the realm of blockchain-based entertainment.As EF Defense prepares to enter the world of Immutable zkEVM, players can look forward to an enhanced gaming experience with the added benefits of blockchain technology.The integration of NFTs and the prospect of play-to-earn mechanics has the potential to make a far bigger impact, provided the correct balance is struck between engaging gameplay and the play-to-earn model dynamic.

China introduces identity verification through RealDID on blockchainThe Chinese government, in collaboration with the Blockchain-based Service Network (BSN), has unveiled plans for the introduction of RealDID, a new digital identity service.Integrating blockchain into public systemsThis platform is set to bring blockchain-based digital identity verification processes into broader use, verifying the digital identities of China’s 1.4 billion people. Such an eventuality would represent a pivotal moment in China’s ongoing efforts to integrate advanced technologies into governance and public administration.The platform is being geared to deliver a spectrum of services, encompassing personal real-name confirmation, encrypted personal data protection and certification. Notably, it will enable private logins, establish business identities and offer personal identification certificate services, coupled with information vouchers on personal identity.Photo by Tamara Gak on UnsplashAnonymous online identityA standout feature of RealDID is its provision for Chinese citizens to register and access online portals anonymously through a Decentralized Identity (DID) address. This feature ensures the privacy of transactions and personal data, addressing global concerns over data security. The introduction of RealDID underscores China’s commitment to harmonizing technological advancement while at the same time, preserving the privacy of the individual.Although the specific roll-out date for RealDID across China’s vast population remains undisclosed, the potential impact of this initiative is monumental. The platform is poised to significantly enhance the security and efficiency of identity verification processes, a critical element in the realm of digital transactions and interactions.RealDID is a strategic component of China’s broader technological vision, aimed at solidifying its position as a global leader in emerging technologies. The nation has been actively investing in and regulating emerging innovations such as artificial intelligence, central bank digital currencies (CBDCs) and cryptocurrencies. In tandem with these endeavors, China is actively working to reduce its reliance on foreign semiconductor chips by boosting domestic production.BSN FoundationBSN, operated by China’s National Information Center, has forged partnerships with major tech players like China Mobile and China UnionPay, illustrating the collaborative nature of this national initiative. The network was co-founded by Hong Kong’s Red Date Technology. With the network originating in China, last month, the BSN Foundation was established in Singapore, featuring five global members.These included Blockdaemon; Zeeve, a Los Angeles-based blockchain infrastructure automation platform; TOKO, a Hong Kong-headquartered digital asset creation platform; Germany’s GFT Technologies; and Red Date Technology. The five will act as a governing body for the BSN Spartan Network.The unveiling of RealDID by the Chinese government signifies a significant stride in integrating blockchain technology into everyday governance and public services. Leveraging blockchain’s inherent decentralization and security features, RealDID aims to provide a more secure and efficient method of identity verification while upholding user privacy.This move aligns with the global trend of governments exploring blockchain technology for diverse public services, highlighting China’s interest in spearheading technological innovation. As the global landscape evolves, China’s strides in the realm of blockchain-based identity verification serve as a testament to its ongoing interest in the future of digital governance.

p0x Labs Secures $25M Funding to Propel Manta Network Into Asiap0x Labs, the development team behind Manta Network, has successfully raised $25 million in a Series A funding round that will see the project expand into the Asian market.Photo by Towfiqu barbhuiya on Unsplash$500 million valuationThe funding round, led by Polychain Capital and Shanghai-headquartered Qiming Venture Partners, has resulted in a valuation of $500 million for p0x Labs, according to a blog post published by the project on Wednesday. This equity-based investment demonstrates a growing interest in not only the project’s token but also the team behind it.Manta Network aims to leverage zero-knowledge (ZK) technology to address the scalability challenges and privacy concerns prevalent on the Ethereum network. By harnessing zero-knowledge proofs, Manta enables users to verify the authenticity of information without disclosing the underlying data.This approach provides individuals with complete control over their identities while mitigating the risks of surveillance. Consequently, Manta Network is seeking to attract users who have reservations about utilizing DeFi protocols due to the transparent nature of transactions on public blockchain networks.At the recent EthCC event held in Paris, the project unveiled the testnet for its Layer 2 network, known as Manta Pacific. This testnet operates in an environment with low gas fees, fostering cost-effective transactions for users. Manta Pacific is designed to complement the existing Layer 1 solution, Manta Atlantic, which focuses on achieving compliant on-chain privacy.VC supportLuke Pearson, an investor at Polychain Capital, expressed his enthusiasm for Manta Network’s expansion within the Ethereum ecosystem and confirmed Polychain’s continued support through this Series A funding round. Meanwhile, Yi Tang, Principal at Qiming Venture Partners, believes that their contribution will not only help Manta Network penetrate the Asian market but also attract the attention of Web2 brands.With the additional funding, p0x Labs aims to establish a global presence for Manta Network. Kenny Li, a core contributor at Manta Network, emphasized the significance of partnering with one of China’s largest investors to gain a stronger foothold in Asia, particularly China. The team is enthusiastic about the opportunities this collaboration will bring.Industry partnershipsManta Network has already witnessed substantial demand for its offerings, with partnerships with projects such as Arbitrum and Linea resulting in the creation of over 300,000 zero-knowledge soulbound tokens. These tokens enable the verification of on-chain identities without compromising data confidentiality. Additionally, the native Manta Wallet has garnered more than 200,000 installations, and innovative features like email-based notifications have contributed to a collective user base exceeding 1.5 million users.Looking ahead, the newly launched testnet with its plug-and-play functionality is expected to streamline the development process for Manta Network’s ecosystem. Developers will be able to allocate their time and resources more efficiently toward building their core products, driving innovation within the zero-knowledge space.The successful funding round and the launch of the Layer 2 testnet mark significant milestones for Manta Network and p0x Labs. With continued support from prominent investors, Manta Network appears to be setting itself up to unlock the true potential of zero-knowledge technology and drive adoption across various industries.