AliExpress Partners With ‘The Moment3!’ NFT Project

Newly founded bankruptcy claim trading platform OPNX has provided further details about the entities backing the fledgling startup. Taking to Twitter on Friday, Open Exchange CEO Leslie Lamb outlined a number of venture capital backers, with a mixture of international and Asia-centric firms among them. Global backersLamb’s tweet via the firm’s official Twitter account, together with a similar announcement published to the firm’s website, outlined AppWorks, a leading Taiwanese venture capital firm and startup accelerator, as an investor in the company. Other Asian backers include Hong Kong-based crypto fund, Token Bay Capital and the Hong Kong-based arm of one of China’s largest banks, China Merchant Bank International.With the firm based in Dubai, Middle-Eastern interest is represented through the involvement of Saudi digital asset fund, Tuwaiq Limited. Otherwise, the company lists a number of other international backers, including US equity options exchange MIAX Group, DeFi-focused venture and trading firm Nascent, top tier global venture capital firm Susquehanna and the investment arm of market maker and early stage investor, DRW. Questionable founding teamOnly hours after the disclosure by Open Exchange, DRW reached out to CoinDesk to confirm that it is not an investor in the bankruptcy claims exchange. Nascent and Susquehanna also denied that they are involved. The companies are still being listed by OPNX as backers of the project on its website.The launch of OPNX has been mired in controversy from the outset as its founding team includes the founders of the former crypto hedge fund Three Arrows Capital (3AC) which failed spectacularly in 2022. Su Zhu and Kyle Davies, the founders of 3AC are now the founders behind OPNX. Before their involvement, OPNX was preceded by Seychelles-based crypto yield platform CoinFLEX. That business also failed during the 2022 crypto bear market. It entered into a restructuring process with the consent of the courts in the Seychelles. Emerging from it is OPNX with the 3AC duo of Zhu and Davies having gotten involved at that point. Industry push-backMany in the crypto space have been highly critical of the development of OPNX on the basis of the involvement of both Zhu and Davies. The duo are being blamed for the collapse of the crypto hedge fund due to mismanagement and the knock on effects the firm’s demise had on other entities within crypto. Many of the series of crypto lenders who failed at a later stage in 2022 had major exposure to the wayward hedge fund.There had been some speculation as to who was backing the new project. Earlier this month, BitMEX co-founder and former CEO Arthur Hayes claimed that the 3AC duo had received substantial funding from Bahrain’s sovereign wealth fund to establish the project. In February, Hayes suggested that the crypto bull market must be starting based on news of Zhu and Davies wanting to launch the OPNX platform.Crypto-focused venture capitalist Michael Arrington also spoke out around that time, stating on Twitter, that 3AC founders successfully raising capital for their latest venture was “the saddest bulls**t I’ve heard in a long time.”Upon its launch earlier this month, industry commentators quickly declared the project a flop citing a trading volume of $13.64 on its first day of trading. Five days in, OPNX made light of the situation, declaring a win on the basis that it had progressed to $12,398 in trading volume, representing a 90,000% increase in trading.Dubai’s Virtual Assets Regulatory Authority (VARA) issued an investor and marketplace alert on April 12 stating that while OPNX may be Dubai-based, it is not regulated by VARA and instead operates on an unregulated basis. It warned investors against using any unregulated crypto entity.

Seongnam City Hosts Seminar on Industry 4.0 AdvancementSeongnam City of Gyeonggi Province announced that it held a seminar on Tuesday under the theme “Seongnam: 50 Years Today, 50 Years Tomorrow” at the city hall to discuss the vision and prospects of the city’s identity as a technological hub for the Fourth Industrial Revolution, or Industry 4.0. Some 100 individuals were in attendance, including the city’s mayor, Shin Sang-jin, and the Director of the Seongnam Research Institute, Im Jong-soon, along with other experts, citizens, and city officials.Photo by Sandro Katalina on UnsplashPath to the Fourth Industrial RevolutionFor Seongnam to develop further, Shin emphasized the need for a specific vision for the city’s future growth. “Gathering individual talent and corporations to drive innovation is the key to leading the Fourth Industrial Revolution,” he said.Shin presented seven major tasks required to achieve this goal, including the establishment of a next-generation semiconductor cluster, a bio cluster, an Industry 4.0 cluster, a special zone dedicated to blockchain and the metaverse, a metaverse platform, and a smart city, as well as a Digital Twin City project. Director Im Jong-soon pledged that the Seongnam Research Institute would support the city’s development through extensive research.During the seminar, multiple experts also gave presentations on various topics, such as the growth process of Seongnam’s industry, digital transformation, and the city’s tasks in becoming an Industry 4.0 hub.Following the presentations, a panel discussion was led by Jang Yoon-jong, a research fellow at the Korea Development Institute. The discussion included participation from Lee Kwang-yong, Head of Policy Strategy at Naver; Kim Seo-gyun, Secretary-General of the Korea Fabless Industry Association; and Kwon Soon-bum, a research fellow at the Seongnam Research Institute. The panelists engaged in a lively debate on the prospects of Seongnam’s development.Innovation and research for a vibrant futureThe Seongnam Research Institute was established on July 3, becoming the first of its kind among cities with a population of over 500,000 to provide policy alternatives and improve the quality of life for citizens through systematic research on current issues.

Global Blockchain Incheon Conference to Promote Web3 Exchange and AdvancementThe city of Incheon is set to host the Global Blockchain Incheon Conference (GBIC 2023) this year from October 30 to 31 under the theme “The Age of Discovery: Voyage to the New World of Blockchain.” The conference aims to provide a space for the exchange of Web3 technologies that are becoming a part of daily life and facilitating communication between businesses, all in the pursuit of establishing Incheon as a global blockchain hub.Photo by Jiho Choi on UnsplashThe city intends to reveal its master plan to achieve this pursuit, consisting of five major strategy points: citizen participation, sustainable growth, advanced innovation, development of a business-friendly environment, and global technological leadership.Exploring the rich tapestry of GBIC 2023The event will include an opening ceremony, keynote speeches, seminars, and additional activities such as hackathon competitions, photo exhibitions of cutting-edge technologies, and interactive zones. Keynote speakers include Marouen Zelleg, Head of Business Development at Polygon Labs’ Asia-Pacific region; Patrick Yoon, General Manager Korea at Crypto.com; Shun Ishikawa, COO at Astar Foundation; and Christopher Lai, Director of the Hong Kong Trade Development Council’s Korea branch.There will be sessions centered around various themes such as stepping into the future of blockchain, improving safety for the citizens of Incheon, delivering tangible innovation, integrating blockchain into daily life, venturing beyond regulations into new possibilities, disseminating technology, and innovating industrial ecosystems.In particular, the conference will also hold a demo day, where companies can showcase demos for their products and services to attract potential investors.Diverse experiences for visitorsAttendees will have the unique opportunity to see how blockchain technology is integrated into daily life by receiving non-fungible tokens (NFTs) minted with Incheon’s mascots — Deungdaeri, Bumi, Kkomi, and Aini — and participating in blockchain-powered games. Other NFTs, such as those issued by Shinhan Bank with records of information like confirmation of entry and coupon usage, will also be available.GBIC is also holding other online and offline activities for visitors to participate in, such as quizzes, social media events, and souvenir distributions.“We will demonstrate how digital technology is integrated into daily life through blockchain in the Web3 era that we are living in,” said Son Hye-yeong, Head of the city’s Data Industry Division. “We encourage everyone’s interest and participation in the blockchain presentations and forums led by global leaders.”GBIC will take place at Songdo Convensia in Incheon, an international conference complex located in Songdo International Business District.