Tiger Research’s new report, ‘Korea Web3 Market Guide’, sheds light on South Korea’s burgeoning Web3 ecosystem, highlighting factors like substantial trading volume, growing RWA market, and robust IT infrastructure that make it a key player in the global Web3 revolution. This report is a must-read for investors and businesses aiming to capitalize on South Korea’s dynamic digital landscape.
Sony Group Corp. has launched its own Ethereum-based Layer-2 blockchain, Soneium, marking its significant entry into the world of Web3 technology. This move comes as Sony seeks to explore decentralized systems and capitalize on the growing Web3 landscape, particularly in gaming, NFTs, and entertainment.
5ire, a sustainability-focused blockchain platform, has launched its mainnet, aiming to promote a greener Web3 future. The platform boasts a unique sustainable Proof-of-Stake (SPoS) model that incentivizes environmentally friendly practices, and its mainnet is capable of processing up to 1,500 transactions per second, returning half of gas fees to users.
The Tourism Authority of Thailand (TAT) has partnered with Freedomverse, a Web3 builder, to launch the Freedom World app. This innovative app will enhance travel experiences in Thailand, particularly in Koh Samui and its surrounding islands, by leveraging Web3 technology for community-driven interactions, gamified activities, and seamless communication. The collaboration aims to attract a new generation of travelers, particularly digital nomads, and boost local tourism revenue.
Milk Partners, AirAsia rewards, and The Sandbox have announced a groundbreaking partnership to drive Web3 adoption through innovative metaverse experiences and reward programs. The collaboration will leverage MiL.k’s loyalty platform and global network, AirAsia’s extensive travel rewards program, and The Sandbox’s immersive metaverse platform to create unique user engagement opportunities.
The Up Mobile, a new smartphone promising a Web3 experience, combines blockchain technology, AI, and a custom app ecosystem to offer a decentralized internet experience. It features a powerful processor, high-resolution display, and advanced AI features for enhanced security and productivity, all while running on Meta’s Move programming language.
Blockchain Land, a cutting-edge initiative from Chainsense, is democratizing access to the metaverse. With its no-code platform and comprehensive tools, businesses and individuals can create and manage their own virtual worlds without exorbitant costs. This game-changing solution empowers users to seamlessly integrate with blockchain networks, launch metaverse projects, and engage with a global community. Blockchain Land’s commitment to user-friendliness, flexibility, and interoperability is transforming the metaverse landscape, making it accessible to all.
**Singapore’s Temasek and US investment fund Fidelity are in talks to invest in Lenskart, an omnichannel eyewear retailer.** The new funding round, led by Temasek, values Lenskart at over $5 billion. This is higher than the $4.5 billion valuation at which it conducted $600 million of funding last year. The funding will help Lenskart expand its operations and continue its growth trajectory.
**In other news, Flipkart’s Web3 and blockchain explorations are expanding beyond the metaverse and non-fungible tokens (NFTs).** The company is working with Polygon for its web3 initiatives and plans to go deep with this partnership this year. Flipkart aims to use blockchain technology to deepen its brand engagements and track promotional content and their conversion into sales.
**Zilingo’s former CEO, Ankiti Bose, has filed a case of sexual harassment against the company’s cofounder Dhruv Kapoor and its former chief operating officer Aadi Vaidya.** According to the FIR, in March 2021, the two allegedly threatened Bose and sought sexual favours.
**PhonePe is restructuring its ONDC strategy by exiting several non-food categories.** The Walmart-owned company unveiled its ecommerce venture Pincode on ONDC in 2023 offering grocery, food delivery, medicines, fashion and electronics among other categories on the network.
**Database company MongoDB sees a “great opportunity” in India as large banks, airlines and financial services companies here launch AI business models.** The company is introducing its new GenAI platform in India to help organizations develop and deploy AI models on its database platform.
Blockchain infrastructure provider Syntropy has rebranded to Synternet, signaling its ambitious vision for the future of decentralized web. The rebranding initiative encompasses a new logo, color palette, and website design to align with the company’s growing focus on Web3 technology.
Synternet’s mission centers around delivering scalable on-chain data across DeFi protocols, applications, and enterprises. As a Layer-1 blockchain, Synternet aims to build the essential data infrastructure for a cohesive Web3 landscape. This strategic move aligns with the support of investors who have contributed $10 million over four years.
Synternet emphasizes that the $NOIA token remains operational on the Ethereum network, ensuring a seamless transition for token holders. CEO Daniel Haudenschild and CTO Jonas Simanavicius expressed their commitment to developing innovative technology and expanding their decentralized applications network.
Synternet’s roadmap includes the launch of the Synternet Blockchain, a token bridge between Ethereum and Cosmos for faster value transfers, and enhanced user experiences for publishers and developers. Originally founded to optimize data transit using blockchain, Synternet has evolved alongside the Web3 ecosystem’s growth. The upcoming mainnet launch marks its transformation into a Layer-1 project connecting isolated chains into a synchronized network.
Zetrix Foundation, MY E.G. Services Berhad (MYEG), and MaiCapital, a licensed virtual asset manager in Hong Kong, have joined forces to launch a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products. This collaboration aims to issue a Securities and Futures Commission of Hong Kong (SFC) approved ETF, consisting of a basket of cryptocurrencies, including Bitcoin and Zetrix, and potentially other suitable cryptocurrencies. The partnership aligns with MYEG’s strategic alliance with Web3Labs Hong Kong and Summer Capital, driving Hong Kong’s Web3 aspirations and positioning Zetrix as the preferred blockchain infrastructure for applications aligned with the Hong Kong government’s objectives. This timely collaboration comes as the SFC has begun granting approvals for spot bitcoin and ethereum ETFs to several asset managers.
