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Japan’s Elemental Knights Online game to release play-to-earn metaverse version

Japan’s mobile game Elemental Knights Online is planning to release Gensokishi Online -META WORLD-, which is its newest version incorporating elements of play-to-earn, user-generated NFTs (non-fungible tokens), and the metaverse. Fast facts Gensokishi Online’s “Meta World” metaverse will allow players to purchase land and freely edit in their creations, such as buildings and characters. The […]

Foxconn’s Terry Gou: mainstream monetary finance could not be decentralized

Terry Gou, founder of Foxconn, which manufactures components for Apple’s iPhone, said Saturday at an event that mainstream monetary finance could not really be decentralized and only an underground economy would adopt cryptocurrency, as reported by Taiwanese local media Economic Daily News. Fast facts Gou later said in a Facebook post — to clarify comments […]

South Korean online game developer KRAFTON invests in metaverse

Signaling a growing interest in business opportunities in the interactive virtual world, KRAFTON, one of South Korea’s major game developers, quietly invested 5 billion Korean won (around US$4.2 million) in Naver Z back in July. Naver Z, under internet giant Naver, services the fast-growing Zepeto metaverse platform. Fast facts KRAFTON told local media that its […]

How blockchain tech can be the supply chain’s strongest link

Supply chain woes are deepening as seasonal consumer demand meets a logistics logjam. Dennis Delgado of SyncFab explains how blockchain can help. 

Indian crypto community sees silver lining after 1st week of parliamentary session

A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.

DeFi protocol BadgerDAO suffers $120M exploit

BadgerDAO, a decentralized autonomous organization (DAO) focused on bringing Bitcoin to decentralized finance (DeFi), is the latest to suffer an exploit that was estimated to result in losses of US$120 million. Fast facts Crypto security firm PeckShield said in a Thursday tweet the total loss has amounted to at least 2,100 BTC and 151 ETH. […]

South Korea’s Hashed raises $200 million for Web3

Distinguished names in South Korean industry have invested in Hashed Venture Fund II to promote the Web3 ecosystem.

What lies ahead for the creator economy in 2022?

A new normal forced by the pandemic is bringing out a wave of creators and influencers for a decentralized economy, writes Alex Shkor of DEIP. Here’s what to expect in the year to come.

Shiba Inu and Luna on a tear; K-pop bets on digital assets

Shiba Inu and Luna on a tear, also K-pop bets on digital assets

Investors queasy as prospect of India crypto ban returns

Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.

HYBE, Softbank invest big in Zepeto metaverse creator Naver Z

South Korea-based Naver Z Corporation — the operator of metaverse platform Zepeto — raised 223.5 billion Korean won, or about US$189 million in a Series B round, which included investments from SoftBank, Mirae Asset and three of K-pop’s largest talent agencies. Fast facts Japan’s SoftBank led the funding round by investing about US$148 million in Naver […]

What is Cosmos — the ‘internet of blockchains’?

The Cosmos ecosystem is expanding rapidly with inter-blockchain transfers on the rise. What makes Cosmos different from other blockchains? Forkast.News explains.

Crypto tax delay is a chance for South Korea to fix loopholes, experts say

Now that South Korea’s crypto tax is delayed a year, what will the final form look like? Should crypto gains be taxed like stock profits — or winning the lottery?

Why a decentralized metaverse is Web 3.0’s new frontier

The metaverse is a convergence of the physical and digital worlds, writes Gloria Wu of Ontology. How can the metaverse escape Web 2.0’s failings?

Twitter CEO Jack Dorsey resigns

Twitter’s stock rose 10% on the news, and his other company, Square, also opened up 4%.

China central bank to establish crypto asset transaction tracking system

The director of China’s central bank’s anti-money laundering office said the People’s Bank of China will establish a tracking system for the virtual assets, such as cryptocurrencies and NFTs, for cracking down on virtual-related crimes, adopting technologies such as artificial intelligence and machine learning, mainland China local media reported. Fast facts Gou Wenjun said at […]

South Korea’s SK Square is 2nd-largest shareholder of crypto exchange Korbit

SK Square, a new investment firm under one of South Korea’s largest conglomerates, SK Group, chose cryptocurrency exchange Korbit as one of its first investments. The two companies aim to upgrade the trading platform’s environment in order to deliver more accurate and trustworthy investment information to users, and plan future businesses in the metaverse and […]

BTC, ETH prices recover after market jolt following Omicron variant

The impact was relatively short-lived, and many major tokens had already retraced most of their positions from Friday coming in Asia business hours.

South Korea and Japan grapple with how to define, and tax, cryptocurrency gains

South Korea reaches a tentative agreement to delay a pending tax on virtual assets. Crypto investors in next-door Japan already face taxation up to 55%.

Metaverse picks up momentum; Binance tweet gets yellow card

Metaverse picks up momentum, on the other hand Binance tweet gets yellow card

Soccer superstar Iniesta given the yellow card over Binance promo tweet

Andrés Iniesta, former FC Barcelona veteran and current midfielder for Japan’s Vissel Kobe, promoted crypto exchange Binance via Twitter, which prompted a securities market regulator to write a cautionary reply tweet against crypto. Fast facts Iniesta wrote on Twitter Wednesday, saying: “I’m learning how to get started with crypto with Binance,” also posting pictures of […]

Metaverse tokens lead market growth; BTC options set to expire

The metaverse has been the hottest trend in tech this past month and tokens attached to metaverse projects are showing that growth with the Sandbox’s SAND and Decentraland’s MANA are both up over 600% in the past month to reach all-time highs of US$8.51 and US$5.90 yesterday, respectively, according to CoinMarketCap. Fast facts The Sandbox […]

How high fashion is waking up to blockchain’s possibilities

Luxury fashion houses set trends that trickle down to the rest of culture. Here’s where brands like Prada and Burberry are headed on the blockchain curve.

South Korea’s Gamevil acquires blockchain tech company

Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has been internalized into […]

Crypto.com on a price tear as Cardano, TRON plummet on eToro delist news

Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’

Why Arbitrum and rollups are dominating Ethereum scaling

Arbitrum is leading the way in Ethereum scaling, according to a new report by Nansen, a blockchain analytics platform. What are the challenges that lie ahead?

Hex Trust to provide financial services for Animoca gamers

Hex Trust and Animoca Brands team up to tackle a key problem in gamefi.

Animoca to cover victims’ losses in Phantom Galaxies-related hack

Blockchain gaming company Animoca reacts to a US$1.1 million scam on a Discord server for its upcoming new game release.

India proposes crypto ban; Metaverse race heats up

India proposes crypto ban meanwhile Metaverse race heats up

New law for crypto industry in the works in South Korea

South Korea’s Financial Services Commission (FSC) compiled a set of proposals for a new crypto law including criminal punishment to unfair actors in the market. The compiled report has been submitted to the national assembly for review. Fast facts Yesterday, the FSC submitted a basic outline for the national assembly’s consideration in constructing the new […]

How will decentralized hosting change the future of social media? | Part 2

As social media’s influence on broader society continues to grow, decentralized platforms will mean less central moderation — for better or worse.

Palau partners Ripple on national stablecoin using XRP Ledger

The Pacific island nation of Palau has partnered with San Francisco-based blockchain payments company Ripple on a U.S. dollar-backed digital currency for the country — the world’s first government-based national stablecoin — using the XRP Ledger, according to a Ripple announcement. Fast facts Ripple will provide Palau with technical, business, design and policy support for […]

Ontology partners with bloXmove on decentralized transport infrastructure

BloXmove will use the Ontology blockchain to allow people to have one decentralized, secure identifier to share across multiple transportation apps.

Another e-CNY scam busted; SCMP to tokenize history

Another e-CNY scam busted, meanwhile SCMP to tokenize history

What is Algorand and why is it a blockchain to watch?

Algorand ‘re-imagines’ blockchain by trying to solve key weaknesses of Bitcoin. Learn about this wannabe Ethereum killer in this Forkast.News explainer.

OliveX to raise $5.8M via share placement to build fitness metaverse

OliveX, a digital health and fitness company listed on the national stock exchange of Australia (NSX), today announced it will be raising AUD$8 million (US$5.8 million) via a share placement with investors including Hong Kong-based blockchain gaming company Animoca Brands, One Football, a digital media platform for football, and Bombora Investment, as it builds out a […]

NFL players accept salary in crypto and DAO forms to buy NBA team

A week after the announcement that the famed Staples Center in Los Angeles will be renamed the Crypto.com Arena, the city plays host to another landmark crypto event, as a player for the NFL team the L.A. Rams has announced he will receive his US$4.25 million salary for the 2021-22 season in Bitcoin. Fast facts […]

Are surveillance and taxation coming soon to a blockchain near you?

The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?

What decentralization can offer Web 3.0 and social media | Part 1

How blockchain technology can usher in the next stage of the internet and social media, through decentralized hosting and integration with cryptocurrency.

Crypto market cap plunges; South Korean banks head into metaverse

Crypto market cap plunges as South Korean banks head into metaverse

DeFi’s amorphous autonomy proves a policy puzzle

The promise of financial democratization forms the bedrock of DeFi’s appeal. But who’s in charge — and who to hold responsible when things go south?

What is a DAO — and can it replace your employer?

Out of nowhere, a leaderless ‘flash mob’ of crypto investors pops up to buy a rare copy of the US Constitution. What are DAOs and how do they work? Forkast.News explains.

Crypto exchange Gemini raises $400M for product and market expansion

Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]

Snoop Dogg, deadmau5 join Outlier Ventures to invest in the metaverse

As interest in the metaverse continues to gain pace, big names in entertainment including Snoop Dogg, deadmau5 and Shaun Neff have joined leading crypto VC firm Outlier Ventures to invest and advise start-ups to accelerate the Open Metaverse. Fast facts Since launching its Base Camp Accelerator in 2019, Outlier Ventures has helped raise over US$250 […]

Taproot unlocks Bitcoin opportunities; Mintable aims big

Taproot unlocks Bitcoin opportunities meanwhile Mintable aims big

Algorand price soars over 50% to new two-year high

Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was short-lived, with ALGO currently trading just under US$2 as of publishing time. Fast facts Algorand’s surge amidst the wider […]

DeFi fraud and thefts rose 600% in 2021 to reach $10.5B

Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.

ConsenSys raises US$200M as MetaMask surpasses 21M monthly active users

Ethereum blockchain software company ConsenSys today announced the completion of a US$200 million funding round, bringing the company’s valuation to US$3.2 billion as it seeks to spearhead the growth of Web 3.0. Fast facts ConsenSys’ announcement comes as the number of monthly active users of its MetaMask non-custodial wallet product exceeded 21 million — a 38-fold increase from […]

TV home shopping in South Korea moves to the metaverse

A ticket to the metaverse is highly coveted in South Korea, whether it’s by an individual, a public company or a city government.

Vitalik Buterin imagines a future of crypto cities

In a speech, Ethereum creator Vitalik Buterin notes the rise in cities experimenting with crypto, DAO and NFTs. What are the possibilities of blockchain cities?

How to avoid getting rug-pulled in crypto and DeFi

Scams like the Squid Game Token rug pull are every investor’s nightmare. How to avoid hoaxes and not feel like a fool? Forkast.News explains.

Polygon launches Miden for Ethereum scaling

Ethereum Layer 2 solutions — protocols built on top of the Ethereum blockchain that handle transactions off the Ethereum mainnet — have been on the rise as developers work on improving Ethereum’s scalability as its number of users and applications continue to grow. Polygon, a Layer 2 Ethereum scaling platform, today announced the launch of […]

Metaverse ETFs in South Korea bring significant profits for investors

South Korean financial companies bring investors results a month after their metaverse exchange-traded funds were listed, with one fund gathering nearly $170M in net asset value.

Earnings for Axie Infinity players drop below Philippines minimum wage

After shooting to prominence earlier in the year and bringing huge profits to early adopters, earnings for players of blockchain-based game Axie Infinity have dropped below the minimum wage line for most players in the Philippines, according to a recent report by research firm Naavik. Fast facts Using data sourced from the official website of […]

Algorand Foundation, Blockchain Association Singapore partner to grow blockchain ecosystem

The Algorand Foundation, a Singapore-based blockchain organization supporting the development of the Algorand ecosystem, has partnered with the Blockchain Association Singapore to drive the development of blockchain technology in Singapore and the wider Southeast Asia region. Fast facts In a memorandum of understanding signed on Nov. 12, the ecosystem partnership will see the Algorand Foundation […]

Blockchain gaming firm Forte closes $725M Series B funding

In another sign of increasing adoption of blockchain technology in the gaming industry, Forte — a leading provider of blockchain solutions for game publishers — has secured US$725 million in a Series B fundraising round, the firm announced. Fast facts Led by Sea Capital and Kora Management, this follows from the US$185 million it raised […]

Hong Kong’s First Digital Trust to custody security tokens on IX Swap

First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]

Indonesia’s top Islamic council says crypto use is forbidden for Muslims: report

The religious body’s decision comes after the country saw crypto transaction growth earlier this year.

This Brazilian digital bank wants to change the world, one block at a time

Covid laid bare the gaps in people’s access to banking services. Moeda Seeds is looking not just to fill the gaps but to change the banking paradigm.

Solana Breakpoint 2021 celebrates price ATH, technology and projects to come on the emerging blockchain

Rounding out an impressive year for the world’s No. 5 blockchain, Solana held its first global offline conference in Lisbon this week. Here’s a look at some of the key moments.

Discord dismisses ETH integration amid community backlash

Only two days after hinting via Twitter that leading social media platform Discord may support Ethereum, company co-founder and CEO Jason Citron has clarified the platform “has no current plans” to integrate the two. Fast facts Tweeting in response to the original post, Citron thanked community members for their perspectives and reiterated the firm is […]

Ethereum’s Web 3.0 ecosystem expands, 3.4 million now into DeFi

Ethereum’s sprawling Web 3.0 ecosystem — which includes the majority of the decentralized finance (DeFi), stablecoins, non-fungible tokens (NFTs) and blockchain gaming worlds — continues to expand and draw users, with 3.4 million Ethereum addresses interacting with DeFi protocols, according to ConsenSys’ Web 3 Q3 2021 report published this week. Led by Ethereum co-founder Joseph […]

Scams are bullish for crypto

After recent scams were uncovered involving Walmart and Kroger, and Bitcoin Cash and Litecoin, why did the stock prices fall while the crypto prices rallied?

Ripple to launch ‘game-changer’ liquidity hub amid XRP legal battles with SEC

Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.

Beeple’s first physical artwork sells for $29M at auction

The digital artist who helped launch the non-fungible token craze earlier this year, Beeple, has sold his first physical artwork and accompanying NFT for US$28.9 million at a live Christie’s auction in New York on Tuesday night. Fast facts Beeple’s first physical work “Human One” is a seven-foot-tall box with LED screens on each side […]

Bitcoin and Beyond

Bitcoin & Beyond

The media’s role in driving growth in crypto

Panel looks at best practices in news coverage from Decrypt Media, CoinDesk, South China Morning Post.

Discord CEO hints at integration with Ethereum to mixed response

Co-founder and CEO of popular social media platform Discord, Jason Citron, has hinted at integration with Ethereum via wallets such as MetaMask by tweeting a screenshot of Discord connecting to the world’s number two blockchain along with the caption “probably nothing.” Fast facts It came in response to another tweet by writer Packy McCormick, which […]

Unlocking the power of Bitcoin through smart contracts

As Ethereum has become the preferred blockchain for smart contracts, what’s the future of the Bitcoin blockchain?

3 themes driving institutional adoption of digital assets

What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?

Ethereum drives crypto comeback as US tax fears leave market unfazed

Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.

Crypto funds see record $8.9B investment inflows so far this year

Signaling increased confidence in the future of digital assets, cryptocurrency investment products saw institutional investment inflows of US$174 million last week — the 12th consecutive week of inflows — bringing year-to-date inflows to a record US$8.9 billion, according to digital assets manager CoinShares. Fast facts Institutional investment into crypto products have surged this year with […]