From Syahrini's NFTs to Axie Infinity, Southeast Asia is waking up to the metaverse

24/1/2022 8:17:00 AM

From Syahrini's NFTs to Axie Infinity, Southeast Asia is waking up to the metaverse

Cryptocurrency, Token

From Syahrini's NFTs to Axie Infinity, Southeast Asia is waking up to the metaverse

When Indonesian singer and influencer Syahrini last month announced a metaverse tour sold as non-fungible tokens (NFTs), they were sold out hours after the launch. Powered by cryptocurrency exchange firm Binance, the 17,800 NFTs came under three categories of increasing exclusivity. The most rare of the digital artworks contained Syahrini's signature phrase #CetarMembahana, which roughly translates to 'so beautiful it's...

Powered by cryptocurrency exchange firm Binance, the 17,800 NFTs came under three categories of increasing exclusivity. The most rare of the digital artworks contained Syahrini's signature phrase #CetarMembahana, which roughly translates to "so beautiful it's shocking", while those in the next tier bore the quote #MajuMundurCantik ("beautiful every step of the way").

Binance said the singer, who has 38 million Instagram followers, was also interested in launching a "metaverse tour in Binance Smart Chain games, such as Glory Planet, Rara, [X World Games], and others", though it did not give a time frame on when this would happen.

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Asia shares brace for hawkish Fed, Ukraine tensionsSYDNEY: Asia n share markets slipped on Monday (Jan 24) as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years. Adding to the caution were concerns about a possible Rus

Asia shares brace for hawkish Fed, Ukraine tensionsSYDNEY : Asia n share markets slipped on Monday as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years.Adding to the caution were concerns about a possible Russian at

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South China Morning Post Instagram/Princessyahrini When Indonesian singer and influencer Syahrini last month announced a metaverse tour sold as non-fungible tokens (NFTs), they were sold out hours after the launch.LinkedIn SYDNEY: Asian share markets slipped on Monday (Jan 24) as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years..LinkedIn SYDNEY : Asian share markets slipped on Monday as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years.

Powered by cryptocurrency exchange firm Binance, the 17,800 NFTs came under three categories of increasing exclusivity. The most rare of the digital artworks contained Syahrini's signature phrase #CetarMembahana, which roughly translates to "so beautiful it's shocking", while those in the next tier bore the quote #MajuMundurCantik ("beautiful every step of the way"). The New York Times reported President Joe Biden was considering sending thousands of US troops to NATO allies in Europe along with warships and aircraft. The least exclusive of the three had the term #Huss-Huss-Sanah, which is merely a gibberish phrase in Bahasa Indonesia. [embed]https://www.5per cent, while FTSE futures fell 0.instagram.S.

com/p/CXaTdRSry7L/[/embed] Binance said the singer, who has 38 million Instagram followers, was also interested in launching a "metaverse tour in Binance Smart Chain games, such as Glory Planet, Rara, [X World Games], and others", though it did not give a time frame on when this would happen. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0. Syahrini isn't the only celebrity in Indonesia jumping on board the NFT trend. Anang Hermansyah, her duet partner, also launched own tokens called ASIX that can be used as a utility in a blockchain-based, play-to-earn game that he's developing with local firm IDM Co-op.6 per cent. Ridwan Kamil, the governor of West Java who is expected to run in the 2024 presidential election, earlier this month turned his personal painting into an NFT and sold it for 1 ethereum, or about US$3,120 (S$4,195). [embed]https://www.4 per cent, getting little traction from a recent easing in policy by Beijing. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.

instagram.com/p/CYwEVA0Fy17/[/embed] President Joko Widodo has said Indonesia needs to "quickly catch on with the metaverse" so the country will not get left behind.7 per cent and Nasdaq futures 0. When he met Facebook co-founder Mark Zuckerberg in the United States in 2016, "he told me that in 10 to 15 years … everyone would be able to buy virtual land, build their own virtual businesses, and there will be virtual malls, gyms and tourism", Widodo said last month. "Facebook has changed its name to Meta. Edgy markets are now even pricing in a small chance the Fed hikes rates this week, though the overwhelming expectation is for a first move to 0. Epic Games, Roblox, Microsoft are also developing metaverse plans. However, Wall Street futures bounced after last week's drubbing, with the S&P 500 futures up 0.

We need to prepare a strategy so that we won't get left behind other countries," the president said.0 per cent by year end. [[nid:561829]] The celebrity-backed NFTs and the president's remarks underline how Southeast Asia's biggest economy is showing strong appetite for the tech world's fixation on the metaverse, which can be defined as a virtual world that is more immersive than today's largely two-dimensional internet. Within the metaverse, people can buy and trade cryptocurrencies and NFTs. The prospect of higher borrowing costs and more attractive bond yields took a toll on tech stocks with their lofty valuations, leaving the Nasdaq down 12 per cent so far this year and the S&P 500 nearly 8 per cent. In play-to-earn games (P2Es), players can also be rewarded, in real life, for their in-game activities and own the in-game digital assets they purchase. Facebook's parent Meta has been upbeat about the prospect of building their own metaverse in the region. Such was the scale of the losses that Treasuries actually rallied late last week on speculation the bonfire of market wealth might scare the Fed into being less hawkish, a variation of the old Greenspan put.0per cent by year end.

"Asia has always been ahead of the curve when it comes to digital adoption. Never has this been more evident than over the past two years," Dan Neary, vice-president of Meta Asia Pacific, recently wrote in an op-ed published on media and marketing publication Campaign Asia. "Investors may not be able to rely on a so-called 'Fed put' this time around, given that the central bank's tightening cycle has not even begun, and that the strength of the U. "And I have no doubt that Asia will be at the front of the pack in embracing the opportunities." An online survey by Australian independent information service Finder. economy suggests that much tighter policy is warranted.com released in November found that 32 per cent of Filipino respondents owned NFTs, the highest out of 20 countries, followed by Thailand (27 per cent), Malaysia (24 per cent), the United Arab Emirates (23 per cent), and Vietnam (17 per cent). However, Allen noted that even with the recent drop the S&P 500 was still 40per cent above where it ended 2019, and the Nasdaq 60per cent.

Nicole Nguyen, the co-founder of Duelist King, a win-to-earn blockchain-based game, said having celebrities promote some elements of the metaverse was a good way to get everyday people on board, but more public education was needed about the broader use of their digital assets.4 per cent before Omicron put its foot on the brakes. [embed]https://www.instagram. Around a fifth of the S&P 500 are expected to provide quarterly updates this week.com/p/CWTD1kPBys_/[/embed] "I think last year, it was more about raising awareness. So people are just jumping right on board without actually demonstrating what kind of utilities the fans will be able to get out of the tokens," said the Ho Chi Minh City-based Nguyen, who is also chapter lead of Global Impact Fintech Forum (GIFT), a non-profit fintech forum.77 per cent and not far from levels last seen in early 2020.S.

"But I think this year, there will be some corrections. I'd love to see more smaller and micro-celebrities jumping in because they'd have a better drive to showcase or to increase the utilities of their tokens.5 per cent on a basket of currencies last week and last stood at 85. And I think that will be the beauty of metaverse and Web3, where more people will be able to create their own kind of business without having to go through so many intermediaries." 'Level the playing field' No full-fledged metaverse has been created yet — although that may change within the next decade. The euro was stuck at US$1. In Southeast Asia, the metaverse is now largely taking shape in the form of P2E games, the most popular being Axie Infinity, created by Vietnamese unicorn start-up Sky Mavis. While Treasuries did bounce late last week, 10-year yields are still up 22 basis points on the month so far at 1.

[embed]https://www.1500.instagram.com/p/CRL_-LDs4bi/[/embed] The game boasts 2. "That could even encourage markets to price a risk of a 50 basis point rate hike in March and, under that scenario, we expect a knee-jerk reaction above its Jan 4 high of 96.4 million daily active users, half of them from the Philippines. It records at least US$33 million in daily transactions." The Japanese yen tends to benefit from safe haven flows as stocks crumble, keeping the dollar at ¥113.5per cent on a basket of currencies last week and last stood at 85.

Sky Mavis, backed by billionaire Marc Cuban and renowned Silicon Valley venture capital firm Andreessen Horowitz, is now reportedly valued at US$3 billion. Others in the game-fi — or gaming and decentralised finance — field include Thailand's GuildFi, Vietnam's Ancient8, and Yield Guild Games Southeast Asia (YGG SEA) from the Philippines.47. As a gaming guild, YGG SEA's business model is to buy into NFT assets of different blockchain-based games and lend them out to their guild members, or 'scholars', so they can start to play P2E games such as Axie Infinity. They currently have more than 4,000 scholars from Indonesia, Malaysia, and Thailand, and aim to pocket over 5,000 scholars before their next fundraising early this year. Oil prices were rising again having climbed for five weeks in a row to a seven-year peak on expectations demand will stay strong and supplies limited. [embed]https://twitter. "The risk is the Fed's statement portrays an urgency to act soon, likely in March, in the face of very high inflation," said Joseph Capurso, CBA's head of international economics.

com/Jihoz_Axie/status/1476965692402507780[/embed] "Most jobs give you a fixed amount of money whether you produce little or a lot, but in our play-to-earn scholarships, players take 70 per cent of what they produce," says Gabby Dizon, co-founder of Yield Guild Games, the parent company of YGG SEA.72 a barrel, while U. "This levels the playing field for people to earn a good supplemental income in developing regions, such as Southeast Asia, without leaving their region to be a migrant worker in a more developed country." Evan Spytma, chief executive and co-founder at YGG SEA, said the company's main growth challenge was to find funding for the NFT purchases, which was required to boost their users' growth. crude rose 77 cents to US$85. The firm last month announced it had bagged US$15 million in a fundraising exercise led by Crypto.com Capital, Animoca Brands, MindWorks Ventures, and others. Source: Reuters.47.

Permission to play Observers generally agree that the development and utility of the metaverse and its elements are still at their early stages, so it will be hard for Southeast Asian authorities to regulate the space now. [[nid:561835]] "But Indonesia must be prepared from now, such as by equally distributing and improving the internet connection to all islands and regions in the country," says Pratama Persadha, chairman at Jakarta-based Communication and Information System Security Research Centre. "The government is aware that there are tens of thousands villages that are still offline." Jakarta should also support local blockchain-based start-ups, such as by providing financial incentives and slashing the import taxes for devices needed to traverse the metaverse, he said. In terms of regulation, Pratama said the government must figure out ways to tax digital assets transactions and revamp its technology to boost law enforcement in the virtual world.S.

"For example, what happens if a user uploads someone else's personal data or the digital version of someone else's physical assets? This is unlawful, but authorities now lack the technological prowess to track and pursue the perpetrators," he said. However, Nguyen from GIFT suggests there is a role for Southeast Asian authorities in the metaverse and Web3 development. "Governments have the role of both legislator and adopter. If they can do both roles, they will be able to see how this technology is being applied and can deliver solutions for the government, in terms of bringing services to the people, for example," she said. Diving into the technology would give governments "a better sense of how they should regulate the technology", she added.

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