Korea Securities Depository Spotlights the Significance of a Security Token Platform

As cryptocurrencies continue to captivate South Korea, the world of ordinary digital asset investors is set for its primetime debut. Today, major broadcaster MBC is scheduled to premiere “To the Moon,” a new television drama that explores the risks and rewards of crypto investing. In crypto slang, “to the moon” refers to expectations of a sharp price surge, a phrase often used by traders to signal bullish sentiment. The series, airing Fridays and Saturdays, is an adaptation of Jang Ryujin’s 2021 novel of the same name, with an English edition released on June 19 of this year. It chronicles the lives of three young women who, despite landing what most would consider solid positions at a confectionery company, find their ambitions stifled by economic realities. Confined to small studio apartments and seeing little room for advancement, they turn to the volatile world of cryptocurrency as their pathway to upward mobility. The publisher describes these burnt-out protagonists’ journey as one that oscillates between humor and despair.Photo by Kanchanara on UnsplashEthereum’s rally and rising optimismIn the original novel, the plot is ignited when one of the women achieves a significant windfall by investing in Ethereum (ETH), inspiring her colleagues to join the fray. What follows is a familiar tale for many investors. They experience a period of wild price swings and respectable profits, only to see their winning streak abruptly halted by a severe market downturn. At the time the book was published in April 2021, ETH traded at roughly $2,100. Today, by contrast, CoinMarketCap data shows the asset trading at $4,543.14, more than doubling since the book’s release. Support for this bullish outlook comes from well-known market voices. Tom Lee, Fundstrat founder and chairman of ETH treasury firm Bitmine, told CNBC that Ethereum (ETH), Bitcoin (BTC), and the Nasdaq 100 would benefit most if the Federal Reserve cut rates, predicting a strong rally in the next three months. He made these comments before the Fed’s actual move, a quarter-point rate cut announced at its Sept. 17 Federal Open Market Committee (FOMC) conference. In a separate Fox Business interview, VanEck’s CEO echoed this view, saying ETH will emerge as the leading asset as banks adopt blockchain for stablecoin transactions. Data also points to growing strength. According to Token Terminal, the supply of Ethereum-based stablecoins has recently reached an all-time high of $168 billion. This milestone is largely attributable to the fact that over half of the entire stablecoin supply now operates on the Ethereum network, underscoring its foundational role in the digital economy. Talent drain and security risksStill, there are headwinds that could slow Ethereum’s ascent. A recent survey by Protocol Guild, an independent funding group for Ethereum core developers, revealed a compensation gap that threatens the network's long-term health. The survey found that Ethereum core developers are receiving external job offers with a median salary of $300,000—more than double the $140,000 median they currently earn for maintaining and upgrading the network. Protocol Guild has noted that this disparity could precipitate a talent exodus, potentially slowing future development. Security has been an ongoing concern, with ETH often targeted by hackers. In a reminder of the sector's vulnerabilities, the crypto exchange Bybit reported a theft of 401,000 ETH in February, an amount valued at roughly $1.5 billion at the time. The U.S. Federal Bureau of Investigation later identified the exploit, one of the largest in crypto history, as the work of the North Korean hacker known as “TraderTraitor.” "To the Moon" is set to air at a time when its themes of innovation and risk are playing out in the real world of crypto. The industry is riding a wave of institutional adoption and high valuations, but it's also facing a talent crunch and security concerns. These dynamics continue to keep digital assets on investors’ radar in South Korea and beyond. 

OKX Strengthens Partnership with Manchester City Football ClubSeychelles-based crypto exchange OKX has announced the expansion of its sponsorship deal with Manchester City Football Club, the treble-winning English Premier League soccer champions.The announcement was made through a virtual reveal video featuring player avatars, presented at Manchester City’s Etihad Stadium. News of the deal was also posted on the English club’s website on Friday.While the valuation of the deal remains undisclosed, the collaboration signifies a significant milestone for both parties. The new agreement, which spans multiple years, establishes OKX as the official sleeve partner on both the men’s and women’s first-team playing kits.Photo by Giero Saaski on UnsplashExtended partnershipUnder this extended partnership, the OKX logo will be prominently displayed on the sleeves of Manchester City’s playing kits, solidifying its position as a key sponsor. Additionally, OKX will retain its presence on the club’s training kit sleeve.City Football Group, the holding company that owns Manchester City and other soccer teams like New York City FC and Melbourne City FC, oversees the management and operations of the club.OKX initially became Manchester City’s official cryptocurrency exchange partner in March 2022. Subsequently, in July of the same year, the exchange secured a sponsorship deal to feature its logo on the front of the club’s training kit throughout the 2022/2023 season. At the time, the agreement was reported to be valued at over $12 million.OKX CollectiveIn February, OKX launched the “OKX Collective” alongside Manchester City players Jack Grealish, Rúben Dias, Ilkay Gündoğan, and Alex Greenwood. This immersive metaverse fan experience offered exclusive content and rewards, allowing fans to engage with the club in a unique way.OKX’s CMO Haider Rafique expressed satisfaction with the evolving partnership, stating: “Manchester City was our first official global brand partnership, and in just a year and a half, we have come a long way. We always intended to integrate with the sport and help the club lead on leaning into Web3. Fast forward fifteen months, we now have a metaverse, an NFT initiative, and a number of other new projects that we are excited about.”Additional sports sponsorshipsBesides Manchester City, OKX has also established partnerships with other prominent sports brands and athletes, including McLaren Formula 1, the Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.While OKX’s partnership with Manchester City strengthens its global fan base, it’s worth noting that the sale of crypto derivatives, a product offered by OKX, was effectively banned by the UK’s financial regulator in January 2021. Consequently, OKX and other crypto exchanges have refrained from advertising such services in the country.As the Premier League clubs have collectively agreed to restrict gambling sponsorships on team shirts, there are concerns that similar restrictions may be imposed on crypto company sponsorships. However, any such developments are expected to be some years away, as the changes regarding gambling sponsorships are scheduled to take effect in the 2026/2027 soccer season.Marketing spend by crypto firms has sobered up quite a bit since the heady heights of the last bull run. However, OKX remains one entity which has been fairly consistent in continuing its marketing efforts regardless of market conditions.

Korean Pharma and Running App Employ NFTs to Promote Fatigue ReliefDaewoong Pharmaceutical recently announced its collaboration with D-Run, an NFT-based running app, to employ non-fungible tokens (NFTs) in marketing a fatigue relief product to millennials and Generation Z.©Pexels/Anna ShvetsUnique NFT IllustrationsFor the project, two unique NFT illustrations have been designed, showcasing a brown bear and a red heart with arms and legs. The bear, named Uri, represents Daewoong’s fatigue relief product UR-Shot, and the heart serves as D-Run’s mascot DZ. In one NFT edition, Uri and DZ are depicted running across a bridge, while the other shows them lying down on a grassy lawn under a tree.Each edition will have 100 NFTs available for purchase on Klip Drops, an NFT marketplace operated by Kakao’s blockchain subsidiary Ground X, from April 26 to May 9. NFT buyers will receive 20 tablets of UR-Shot and D-Run merchandise.Millennial and Gen Z runnersDaewoong’s partnership with D-Run, a platform operated by online media outlet dongA.com, a subsidiary of the nation’s leading newspaper Donga Ilbo, aims to connect with the digital-savvy millennial and Gen Z runners. This collaboration promotes UR-Shot as a healthy energy booster. In November last year, Daewoong introduced NFTs featuring Uri to attract millennials and Gen Z consumers.NFTs as marketing strategyNFTs are tokens that utilize blockchain technology to prove ownership of virtual assets. Due to their scarcity and irreplaceability, NFTs have recently become increasingly influential in the digital art sphere such as paintings and videos. In particular, young consumers often use NFTs as a tool to have fun and express themselves.Park Eun-kyung, the head of the consumer healthcare marketing team at Daewoong, said that this NFT collaboration to reach out to young consumers is the first marketing initiative of its kind in the pharmaceutical industry. Daewoong will continue to keep an eye on the consumption culture of younger generations and conduct various digital marketing programs to alleviate customers’ daily fatigue, she added