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Home Monthly Roundup Singapore Cryptocurrency and NFT News Roundup May 2023

Singapore Cryptocurrency and NFT News Roundup May 2023

Find out the latest cryptocurrency, Web3, and NFT news in Singapore for the entire month of May 2023 only here at SGBusinessTalk. 

Reports of US$10 million investment into crypto company Array is ‘fake news’: Temasek

company building

Singapore state investor Temasek has denied reports of a $10 million investment in the algorithmic currency system Array, labeling the claims as “fake news.” Array had previously tweeted about the investment and expressed gratitude to Temasek, but the tweet has since been taken down. Temasek clarified that it has no relationship with Array and has not made any investments in the company. Temasek’s statement contradicts reports from various crypto news and financing websites. Temasek had previously written down its $275 million investment in failed crypto firm FTX, demonstrating a cautious approach to cryptocurrency investments.

Read more: https://www.channelnewsasia.com/singapore/temasek-investment-array-fake-news-rejects-crypto-3458826


Three Arrows Founder Su Zhu Obtains Singapore Restraining Order Against Arthur Hayes Over ‘Harassment’

twitter application

Su Zhu, the co-founder of defunct crypto hedge fund Three Arrows Capital (3AC), has obtained a restraining order against Arthur Hayes, co-founder of BitMEX, from a Singapore court. The order prohibits Hayes from using threatening or abusive language towards Zhu and communicating with him through any means. It also prohibits Hayes from publishing any identifying information about Zhu. The order comes after Hayes had been tweeting at Zhu and his partner Kyle Davies, demanding $6 million he claims is owed from the fund’s collapse. Both Zhu and Hayes have been involved in controversies within the crypto industry. Zhu and Davies have moved on to launch OPNX, a platform for trading bankruptcy claims, while Hayes recently set up his crypto fund called Maelstrom.

Read more: https://www.coindesk.com/policy/2023/05/10/three-arrows-founder-su-zhu-obtains-singapore-restraining-order-against-arthur-hayes-over-harassment/


Bitdeer and Druk Holding & Investments to Jointly Develop Green Digital Asset Mining Operations in the Kingdom of Bhutan


Singapore-headquartered cryptocurrency miner Bitdeer Technologies Group and Druk Holding & Investments (DHI) have announced a strategic partnership to develop environmentally sustainable digital asset mining operations in Bhutan. They plan to establish a closed-end fund of up to $500 million, with Bitdeer as the general partner and DHI as a limited strategic partner. The funds raised will be used for greenfield operations in Bhutan, including constructing data centers and acquiring cutting-edge technology. The partnership aligns with Bhutan’s goals of digital transformation and economic diversification. The initiative will create local jobs and contribute to the country’s economy. This expansion into Asia complements Bitdeer’s existing data centers in Europe and North America.

Read more:  https://www.globenewswire.com/news-release/2023/05/03/2659973/0/en/Bitdeer-and-Druk-Holding-Investments-to-Jointly-Develop-Green-Digital-Asset-Mining-Operations-in-the-Kingdom-of-Bhutan.html


Warner Music Singapore partners with Affyn to release new Web3 game

game puzzle

Warner Music Singapore and Affyn have joined forces to create a new Web3 gaming experience. The collaboration aims to offer unique content and opportunities in Web3 gaming, providing audiences with unprecedented experiences. As part of the partnership, Warner Music Singapore will release a new track featuring J.M3, a bilingual artist based in Singapore, who will also serve as the main character in Affyn’s upcoming Web3 game. Both companies are excited about this collaboration, seeing it as a way to leverage Web3 technology to enhance audience engagement and deliver immersive experiences. They anticipate exploring innovative approaches to promote Warner Music Singapore’s artists and expand their reach through this partnership.

Read more: https://www.bandwagon.asia/articles/warner-music-singapore-partner-with-affyn-to-release-new-web3-game-may-2023


Taiwan-Based Comma3 Ventures Raises $20M to Fund Web3 Early-Stage Startups

web3 bitcoin

Comma3 Ventures has successfully raised $20 million in its initial funding round, part of its overall goal of $45 million. The Taiwan-based venture capital firm secured investments from institutional investors, family offices, executives, and high-net-worth individuals in Taiwan and Singapore. The funds will be invested in early-stage blockchain infrastructure projects, focusing on layer1 and layer2 blockchains, cross-chain solutions, zero-knowledge rollups, and decentralized applications (dApps). Comma3 Ventures, led by three general partners, has a track record of investing in web3 projects such as Zilliqa, Polygon, and Klaytn. The firm prioritizes projects that can drive traffic to Web3, including those related to DeFi, GameFi, and creator economies. They aim to support 80-100 projects, offering investments ranging from $250,000 to $1 million.

Read more: https://www.nftgators.com/taiwan-based-comma3-ventures-raises-20m-to-fund-web3-early-stage-startups/

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GreaterHeat Signs Letter of Cooperation with Incheon City to Create Blockchain Hub and Foster Incheon’s Digital Economy


Singapore-based Web3 Infrastructure provider, GreaterHeat, has entered into a Letter of Cooperation with Incheon Metropolitan City to transform the city into a blockchain hub and boost its digital economy. GreaterHeat will collaborate with Incheon to establish blockchain infrastructure and work alongside industry associations and advisory groups dedicated to making Incheon a center of excellence for blockchain. The signing ceremony was attended by David Li, Chairman and CEO of GreaterHeat, and Yin Haoyu, Co-Founder and General Manager. The agreement aligns with GreaterHeat’s expansion strategy, which includes partnerships and teams in Malaysia, Indonesia, and Vietnam. GreaterHeat expressed excitement about contributing to Incheon’s blockchain ecosystem and praised the city’s forward-thinking approach. Incheon’s commissioner, Mr. Kim Jin Yoeong, voiced confidence in GreaterHeat’s expertise and potential to help establish Incheon as a leading cyber hub.

Read more:  https://www.globenewswire.com/news-release/2023/05/09/2664833/0/en/GreaterHeat-Signs-Letter-of-Cooperation-with-Incheon-City-to-Create-Blockchain-Hub-and-Foster-Incheon-s-Digital-Economy.html


BuzzAR and Cypher Capital announce new AI-Web3 metaverse project, ‘Space’

web3 metaverse

Singapore and Saudi Arabia-based AI avatar company, BuzzAR has partnered with venture capital firm Cypher Capital to develop AI+LBS Web3 location-based game projects. The collaboration aims to utilize BuzzAR’s generative AI technologies and its Metaport platform to create a decentralized social graph and reshape the gaming landscape. With solid retail, hospitality, and tourism collaborations in Singapore and Saudi Arabia, BuzzAR is well-positioned to bring disruptive changes to the gaming industry. The joint initiative, Project ‘DSpace,’ will provide an immersive and culturally diverse Metaverse solution, aligning with Saudi Arabia’s tourism strategy and regional plans. Cypher Capital, as the lead investor, expresses excitement about the groundbreaking project and its potential to revolutionize the gaming industry and foster global connectivity and collaboration in the AI+LBS Web3 Metaverse.

Read more: https://www.zawya.com/en/press-release/companies-news/buzzar-and-cypher-capital-announce-new-ai-web3-metaverse-project-space-huidtzju


World Blockchain Summit Returns to Singapore: Bringing Together Global Crypto Leaders and Innovators


World Blockchain Summit is set to return to Singapore on July 13-14, 2023, bringing together global crypto leaders and innovators for collaboration and investment opportunities. Singapore has become a prominent blockchain and cryptocurrency development hub due to its favorable regulatory environment and robust infrastructure. The summit offers blockchain entrepreneurs and startups a platform to access funding opportunities, expert guidance, and network with industry pioneers. Key topics include Web 3.0, crypto and blockchain innovation in Asia, DeFi, NFTs, and digital asset solutions. The event will feature groundbreaking projects, investor networking, and opportunities for growth in the blockchain industry. Early bird registration is now open for this highly anticipated event.

Read more: https://www.newsfilecorp.com/release/165809


Animoca Brands collaborates with Altava Group to license its Bored Ape Yacht Club (BAYC) NFTs for Altava’s BAGC project.

bored ape yacht club

Hong Kong-based gaming company Animoca Brands has partnered with Singapore-based luxury fashion brand ALTAVA Group to utilize Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) in Animoca Brands’ portfolio. As part of the agreement, Animoca Brands will license its BAYC intellectual property to ALTAVA’s Bored Ape Golf Club (BAGC) project, a golf-themed derivative of Bored Ape Yacht Club. The BAGC collection will feature special edition BAYC NFTs branded by Animoca Brands and The Sandbox, offering various utilities such as custom physical merchandise, access to exclusive golf clubs, voxel twins for use in The Sandbox, and IP ownership, licensing, and management services. ALTAVA has established a team dedicated to monetizing IP for NFT holders. BAGC is a community-driven initiative and does not have any official affiliation with Yuga Labs, Inc. ALTAVA Group operates WOY (World of You), a luxury fashion metaverse enabling users to interact and express themselves through high-fidelity avatars. Animoca Brands is actively involved in digital entertainment, blockchain, and gamification, aiming to advance digital property rights and contribute to the establishment of the open metaverse.

Read more: https://technode.global/2023/05/11/animoca-brands-partners-with-altava-group-to-license-its-bayc-nfts-for-altavas-bagc-project/


Huobi Strategic Partnership with Wiki Finance Expo to Boost Global Development of Cryptocurrency


Cryptocurrency trading platform Huobi has partnered strategically with Wiki Finance Expo to enhance brand exposure and trust. The collaboration aims to leverage the strengths of both parties and contribute to the crypto industry. The upcoming Wiki Finance Expo Singapore 2023, held on May 27, will feature renowned guests and focus on finance, NFTs, cryptocurrency, metaverse, blockchain, and Web 3.0. Wiki Finance Expo provides a safe investment environment, selects reputable exhibitors, and invites industry experts for knowledge-sharing. The partnership will benefit Huobi by expanding its international market and user base, while Wiki Finance Expo gains from Huobi’s influence. Additionally, the collaboration aims to promote compliance and transparency amidst increasing regulatory scrutiny. It will also foster the development of blockchain technology and cryptocurrency on a global scale.

Read more: https://newsdirect.com/news/huobi-strategic-partnership-with-wiki-finance-expo-to-boost-global-development-of-cryptocurrency-915953963


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