All posts tagged: web3

Solana Partners Swiss Watchmaker Franck Muller to Launch Limited Edition Web3 Watch 

Solana Partners Swiss Watchmaker Franck Muller to Launch Limited Edition Web3 Watch 

Published by Webster

Solana, a prominent name in the blockchain sector, has taken a step further towards integrating Web3 with hardware. Over the weekend, Solana and Swiss watchmaker Franck Muller announced the launch of a limited-edition Web3 enabled luxury watch, priced at CHF 20,000 (roughly Rs. 20.7 lakh). The launch marks the second time Solana has linked its blockchain functionalities to a popular category of hardware devices. Back in 2022, it became the first blockchain network to unveil a Web3 enabled smartphone named Saga. The first glimpse of Solana x Franck Muller analogue watch shows a glossy tonneau-shaped (barrel-shaped) stainless steel dial in hues of electric blue, green, and purple. The Solana logo has been placed at the centre of the watch screen, along with a unique QR code. As explained in the announcement, the QR code on each watch will be linked to the wearer’s personal Solana wallet to facilitate quick crypto transactions. “Each piece is individually numbered, with your wallet address embedded securely and privately. Your watch becomes your wallet, your keys, and your data—all fully …

Dubai’s VARA Sets June 19 Deadline for Crypto Firms to Comply With Updated Activity-Based Rulebooks

Dubai’s VARA Sets June 19 Deadline for Crypto Firms to Comply With Updated Activity-Based Rulebooks

Published by Webster

Dubai’s Virtual Assets Regulatory Authority (VARA) has introduced changes to its crypto policies, aiming to tighten risk oversight and ensure investor security. The updated policies will also focus on deploying more control around margin trading and token distribution services. Through these upgrades, the VARA expects to make the crypto ecosystem more scalable. The development comes weeks after the Dubai Land Department (DLD) piloted its “Real Estate Tokenisation Project” that aims to initiate collaborations between global Web3 firms and Dubai’s real estate community. The development was announced by the regulatory body on May 19. The VARA said in a press release that it has added more clarity to the compliance requirements across all licensed crypto and Web3 activities. Service providers offering crypto advisories and custody support will have to align their businesses with the upgraded guidelines. Exchanges, broker-dealer services, and lending and borrowing services will also need to adhere to the revamped policies. “These rulebook updates reinforce the foundations of a responsible, scalable ecosystem,” said Ruben Bombardi, VARA’s General Counsel and Head of Regulatory Enablement. The …

Bharat Web3 Association to Host Web3 Cybersecurity Workshop in Bengaluru on May 8

Bharat Web3 Association to Host Web3 Cybersecurity Workshop in Bengaluru on May 8

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The Bharat Web3 Association (BWA) has announced a cybersecurity workshop that will be conducted in Bengaluru on May 8. During the upcoming event, the BWA will discuss security challenges related to crypto exchanges and wallets. Representatives from multiple crypto firms like Coinbase and Bitgo have been listed as speakers for this workshop. The BWA is aiming to prepare Indian Web3 firms to deal with the sophisticated hacking and scamming methods used by malicious actors to target the $3 trillion (roughly Rs. 2,52,75,450 crore) industry. CoinDCX CISO Sridhar Govardhan is one of the speakers scheduled to discuss the lessons that can be learnt from recent breaches that impacted the Web3 space. Other representatives from companies like CoinSwitch and Mudrex are also slated to speak at the workshop, Chenoy told Gadgets 360. Muralidharan Sundaramurthy, Head of Technology Risk and Security Compliance, APAC, Coinbase and Barath Jawahar, Director of Engineering, BitGo are slated to talk about the risks for Web3 projects around third-party integrations and cloud security. Marc Krisjanous, a senior committee member from the CryptoCurrency Security Standard …

Coinbase, Animoca Brands Announce Web3 Accelerator Initiative in the UK

Coinbase, Animoca Brands Announce Web3 Accelerator Initiative in the UK

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Coinbase and Animoca Brands have joined a group of institutional investors to announce an accelerator initiative in the UK, focused on Web3 projects. Fabric Ventures and Founders Factory are also part of the programme, that will allow promising Web3 startups to gain financial aid of up to GBP 250,000 (roughly Rs. 2.85 crore). The firms announced the new programme on Monday, and stated that it was designed to advance tech startups working on AI and blockchain technology that can elevate the UK’s economic status. The initiative also offers 16 weeks of industry experience from Founders Factory, a startup accelerator firm based in London, UK. The selected startups will get business strategy support and market exposure along with training in product development and fundraising, according to a press release published on Monday. Fabric Ventures, Animoca Brands, and Coinbase will also guide these startups on tokenomics, community strategies, and business scaling practices in the blockchain and AI sectors. “Ensuring that these products and services are born out of the UK is vital. For too long, access to …

Bitget, Avalanche Announce Partnership to Boost Web3 Adoption in India

Bitget, Avalanche Announce Partnership to Boost Web3 Adoption in India

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Bitget has partnered Avalanche as part of the latter’s efforts to invest in the Web3 sector in India. Aimed at driving grassroots-level adoption of Web3 technology in the country, the partnership was announced by the Web3 firms on Monday. While Bitget is a Seychelles-based crypto exchange, Avalanche is an open-source layer-1 blockchain created at Cornell University and later led by New York-based Ava Labs. As part of the agreement, both firms plan to boost India’s web3 infrastructure to support crypto services and highlight blockchain use cases in the country. Avalanche and Bitget will launch awareness campaigns and educational workshops related to crypto safety and blockchain exploration throughout the year as part of the “HODL ON” tours. Through these tours, the partnership will offer a platform to Indian Web3 startups to showcase their work and secure funding. Two community meetups have already taken place in Delhi and Bengaluru in recent weeks, as the first leg of the tour went live. The firms said that India’s tech talent is capable of delivering world class Web3 applications if …

Sony Online Store Begins Accepting USDC via Crypto.com Pay in Singapore

Sony Online Store Begins Accepting USDC via Crypto.com Pay in Singapore

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Sony Electronics recently announced that it has begun accepting the USDC stablecoin for payments in Singapore. The electronics giant has teamed up with Crypto.com to facilitate USDC transactions on its online store, it said in an announcement on Wednesday. Crypto.com is an exchange for virtual digital assets (VDAs), headquartered in Singapore. Sony is continuing its foray into its Web3 sector — it recently launched its own Soneium blockchain. For now, only Sony Store Online customers in Singapore will be able to access the USDC payment option. In a press release, Sony acknowledged that crypto payments are growing in popularity, especially with a younger generation of tech-savvy customers. The company also said that its decision to accept USDC payments aligns with its efforts to keep up with Web3-focussed advancements in the fintech sector. Crypto.com General Manager Chin Tah Ang said such initiatives can push crypto into more mainstream uses. He noted that Sony could use the opportunity to raise awareness around crypto-related payments to its large customer base. “This payment integration will not only benefit our …

TRN Odyssey Programme Goes Live, Opens Funding Opportunities for Web3 Game Developers

TRN Odyssey Programme Goes Live, Opens Funding Opportunities for Web3 Game Developers

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The Root Network (TRN), a metaverse-focused Web3 platform, launched its “TRN Odyssey” initiative on March 24. Designed to support promising Web3 gaming projects on the TRN Layer-1 blockchain, the programme has a funding pool of $10 million (roughly Rs. 85 crore) allocated by TRN Labs, which oversees the blockchain’s ecosystem. Web3 game developers are invited to apply for a place in the programme. Key Details About TRN Odyssey Blockchain game developers can secure investments ranging from $10,000 (roughly Rs. 8.5 lakh) to $1 million (about Rs. 8 crore) through this initiative. In a tweet thread, TRN Labs explained that small to mid-sized gaming projects can apply for Root Ignite, while larger-scale developers should sign up for Root Nexus. Ignite provides grants of up to $200,000 (roughly Rs. 1 crore), whereas Nexus offers funding of up to $1 million. Two funding tracks tailored for every innovator: :seedling: ROOT Ignite: $10K – $200K grants for ambitious small-to-mid-size gaming projects.:deciduous_tree: ROOT Nexus: Up to $1M for next-level AAA games and gaming infrastructure. — TRN Labs (@TRNLabs) March 24, …

US SEC’s Crypto Task Force to Host Roundtables to Discuss Crypto Regulation

US SEC’s Crypto Task Force to Host Roundtables to Discuss Crypto Regulation

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The US is moving towards getting a comprehensive set of Web3 rules under the crypto-friendly presidency of Donald Trump. The US Securities and Exchange Commission’s (SEC) Crypto Task Force said Monday it would host a series of roundtable meetings to gather public insights on its regulatory approach towards Web3. Mark T. Uyeda, the acting chairperson of the SEC, will oversee the roundtable discussions that will start this month. The inaugural session of the roundtable series, dubbed the ‘Spring Sprint Toward Crypto Clarity’, has been slated for March 21 at the SEC office in Washington DC. The first session will hold discussions on defining the status of cryptocurrencies as securities. “The initial roundtable on March 21 is open to the public at the SEC’s headquarters. The number of in-person participants may be limited. The primary discussion will be streamed live on SEC.gov, and a recording will be posted at a later date,” the federal agency explained. SEC commissioner Hester M. Peirce said the roundtable discussions were an important step towards engaging with the public. “I am …

Animoca Brands, The Sandbox Join Web3 Alliance Group in Saudi Arabia

Animoca Brands, The Sandbox Join Web3 Alliance Group in Saudi Arabia

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Saudi Arabia has launched a Web3 alliance group as part of its Saudi Vision 2030 program that aims to diversify the country’s economy. The newly construed Web3 Alliance of Saudi Arabia (WASA) will bring together players from the international Web3 industry. The group will work to create awareness around Web3 and help Saudi Arabia develop regulatory standards to oversee and govern the sector, according to press release shared Thursday. Members of the WASA include The Sandbox, Animoca Brands and Outlier Ventures. The group will work as a non-profit organisation with a focus on collaborating with the country’s regulators to safely integrate blockchain technologies into existing financial and industrial systems. “The alliance’s governance structure includes a General Assembly and an Executive Committee, ensuring transparent and effective leadership. A comprehensive digital infrastructure and marketing strategy will support the alliance’s mission to connect and empower the Web3 community throughout Saudi Arabia,” the announcement said. Web3 can be explained as the next iteration of the Internet we know and use today. The blockchain technology, that offers an alternative to …

South Korea’s FSC Unveils Plan to Define Corporate Participation in Virtual Digital Asset Market 

South Korea’s FSC Unveils Plan to Define Corporate Participation in Virtual Digital Asset Market 

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South Korea is collaborating with various internal authorities to develop its Web3 market. In a recent move, the Financial Services Commission (FSC) unveiled a roadmap to gradually integrate local corporations into the VDA market, which primarily consists of cryptocurrencies. Looking ahead, South Korea aims to assess the financial aspects of cryptocurrencies and foster sector growth under legal oversight. In 2025, the country will pilot two trials: crypto-related sales transactions and VDA trading for investment and financial purposes, the FSC stated in its statement. Details Outlined by the FSC South Korea recently implemented the ‘Virtual Asset User Protection Act’ to strengthen investor safeguards. After deliberation, the Virtual Asset Committee concluded that corporations should have the opportunity to explore the VDA market under FSC oversight. Elaborating on the factors that resulted in this decision, the FCA noted, “major countries overseas are broadly allowing corporations to participate in the market and the market environment is changing as domestic companies are also seeing an increase in demand for new blockchain-related businesses. Accordingly, the demand to allow corporations to trade …