Report paints bright picture of India’s Web3 development

Hana Securities Opens Doors to Fractional Investments in Digital ComicsHana Securities announced yesterday that the South Korean securities company signed a memorandum of understanding (MOU) with digital comic platform Webtoonall. The purpose of this collaboration is to offer investors fractional investment opportunities.Photo by Yulia Matvienko on UnsplashFractional investments in digital comicsThrough the partnership, the two companies are set to open up the avenue for fractional investments in webtoons, a form of digital comics that originated in South Korea. Webtoonall will take the lead in developing and providing a platform for trading these products, while Hana Securities will handle the necessary account management and trust services required for these transactions.IP rights related to webtoonsWebtoonall is engaged in the development and operation of a digital trading platform that specializes in the trading of intellectual property (IP) rights associated with webtoons. Besides webtoons, the company also ventures into various content domains, such as movies and TV series. Furthermore, Webtoonall extends its portfolio by featuring content for experiential exhibitions through augmented reality technology. Moreover, the company is actively involved in the creation of educational solutions that harness the power of webtoons generated with the assistance of artificial intelligence.Film and TV adaptationIm Sang-soo, Vice President of Hana Securities, stated that numerous movies and TV series inspired by webtoons have enjoyed significant success in recent years, driving up interest in webtoons to unprecedented levels. Through this MOU, Hana Securities seeks to open up an opportunity for customers to invest in the works that have long piqued their interest.So far, Hana Securities has been actively establishing partnerships with various companies, including Print Bakery, Itcen, and Danal Entertainment. These collaborations aim to develop fractional investment platforms and security token projects, leveraging a wide range of underlying assets, such as artworks and mobile content.

Korean Game Company to Reward Female Golfers with WEMIX TokensKorean game company Wemade has teamed up with television channel SBS Golf to reward Korean professional female golfers with WEMIX tokens, according to a Wemade press release.Photo by Allan Nygren on UnsplashWEMIX point systemGolfers participating in the regular tours of the Korea Ladies Professional Golf Association (KLPGA) can earn WEMIX points based on their performance and records. At the end of the 2023 season, the top 60 players in the WEMIX point system will share a total of 500,000 WEMIX, with the player in first place earning 90,000 WEMIX.Golfers can earn WEMIX points in three ways: by ranking in the top 10 for each tour, advancing to the final round of each tour and earning points based on the number of strokes for each hole, or consecutively ranking in the top 10 for tours. Meanwhile, golfers who don’t make the cut may face penalties.Sports NFTsThe top 60 players in the WEMIX point system will receive sports NFTs, which can be exchanged for WEMIX tokens any time after a certain date.For the gallery, Wemade’s NFT platform NILE marketplace will feature NFTs corresponding to the top 60 players in the WEMIX point rankings.More intensified competitionAn SBS Golf official expressed excitement about the new point system for KLPGA players. The extra rewards are expected to spark more intensified competition and provide fans with unique experiences, contributing to the promotion and development of the league.Wemade has stated that this initiative is just the beginning, and that the company plans to continue developing innovative ways to provide new experiences to players and fans across various sports in the future.

Binance Introduces Dedicated Trading Platform in JapanGlobal cryptocurrency exchange Binance made an announcement on Friday regarding its plans to establish a new trading platform exclusively for residents of Japan.The move is in compliance with Japanese laws and regulations, and a demonstration of the company coming into line with Japan’s legal and regulatory framework relative to crypto assets and crypto asset trading. While specific details such as the platform’s launch date are yet to be disclosed, Binance has assured its Japanese customers that this information will be provided in the near future.Photo by Bagus Pangestu on PexelsPlatform transitionIn terms of scheduling, we do know that a new know your customer (KYC) verification process will be available after August 1, to migrate to the new local platform for existing Japanese users on the global platform. As part of the transition process, Binance will be sending out information to Japanese residents who currently utilize their global trading platform. This communication will include instructions on procedures including further information on identity verification.To facilitate a smooth transition, Binance’s global trading platform will cease providing services to Japanese residents on November 30, 2023. Additionally, there are plans to change the company name from Sakura Exchange Bitcoin to “Binance Japan Co., Ltd.”This development marks Binance’s initial foray into the Japanese market firmly under its own brand. In November 2022, the company entered the country by acquiring Sakura Exchange Bitcoin (SEBC). The forthcoming trading platform, dedicated exclusively to domestic residents, represents the first step in Binance’s strategic approach to the Japanese market.The new services on the platform are set to launch during the summer, with future expansion plans to broaden that offering further. Binance also intends to introduce initiatives in Japan that leverage its ecosystem, including the provision of free educational resources through “Binance Academy” to promote Web3 education.Service offeringThe newly created entity will offer crypto spot trading with fiat deposit and withdrawal facility to its Japanese customers. Crypto lending products will be provided through a digital asset earn program. For those who like to dollar cost average (DCA), an automated recurring purchase feature will be provided.In 2021, Binance introduced an NFT marketplace and that will be a service that it will also extend to its Japanese customers. Upon launch of the dedicated service, crypto derivative trading will not be offered although it is understood that it may be offered at a later stage. Derivatives are likely to be under much closer scrutiny by the Japanese regulator than Binance’s other products.It is worth noting that Binance had previously received a warning from the Financial Services Agency (FSA) for offering cryptocurrency trading services to Japanese residents without proper registration. With its full-fledged entry into the Japanese market, it remains to be seen what impact this move will have. Will it accelerate the regulatory landscape and the adoption of Web3 technology in Japan from a global perspective?Additionally, how smoothly will Binance be able to acquire new accounts while competing with domestic business operators? These developments warrant close attention as they unfold.