https://www.scmp.com/rss/511205/feed Non-fungible tokens (NFTs) refer to units of data stored on a blockchain that guarantees each digital asset to be unique and immutable. Because NFT-based digital items are authenticated via the decentralised technology, they can be owned and traded much like physical items in the real world. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Joseph Koh Joseph Koh Singapore-based “technopreneur” Vignesh Sundaresan, who goes by the nickname MetaKovan online, grabbed global attention in March 2021 when he splashed out US$69 million on the non-fungible token (NFT) artwork Everydays: the First 5,000 Days by American digital artist Mike Winkelmann, better known as Beeple. That record-breaking bid supercharged a speculative frenzy in NFTs. The Indian-born investor later boasted in a TV interview that he was prepared to pay even more, so convinced was he that... https://www.scmp.com/lifestyle/arts/article/3335276/singaporean-buyer-us69-million-beeple-nft-opens-art-and-technology-space?utm_source=rss_feed https://www.scmp.com/lifestyle/arts/article/3335276/singaporean-buyer-us69-million-beeple-nft-opens-art-and-technology-space?utm_source=rss_feed Sun, 07 Dec 2025 23:15:09 +0000 Anthony Rowley Anthony Rowley Fashionable, frivolous or downright foolish? Which of these words best describes the trend in markets toward derivatives, cryptocurrencies, digital assets and tokens as supplements or alternatives to traditional finance? Where is this great “paper chase” leading? For one thing, it is likely to be causing a flight into gold. But unless gold is remonetised and mining output is stepped up sharply, that trend could lead to deflation and limited economic growth. So a retreat to sustainable safety... https://www.scmp.com/opinion/world-opinion/article/3314109/how-obsession-risky-assets-putting-global-finance-peril?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3314109/how-obsession-risky-assets-putting-global-finance-peril?utm_source=rss_feed Sat, 14 Jun 2025 08:30:07 +0000 Bloomberg Bloomberg A digital token debuted by US president-elect Donald Trump has rattled the cryptocurrency market, attracting billions of dollars of trading volume while stoking concerns about conflicts of interest. Trading under the “Trump” ticker on the Solana blockchain, the token’s market value surged to US$15 billion over the weekend, data from CoinMarketCap showed, after the Republican touted it on his social media accounts on Friday. The digital asset’s market capitalisation then slid below US$10 billion... https://www.scmp.com/tech/blockchain/article/3295413/trumps-crypto-meme-coin-draws-billions-trading-volume-bitcoin-dips?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3295413/trumps-crypto-meme-coin-draws-billions-trading-volume-bitcoin-dips?utm_source=rss_feed Mon, 20 Jan 2025 01:58:18 +0000 Hollywood legend Leonardo DiCaprio, who just turned 50, and his 26-year-old girlfriend, model Vittoria Ceretti, seem to be going strong amid rumours of infidelity after the Titanic actor was spotted “dancing very closely”, per Page Six, with actress Teyana Taylor at a party in New York. This isn’t the first time the actors have been linked either. Back in March, DiCaprio and Taylor – who’ve been filming a Paul Thomas Anderson movie together – sparked romance rumours after being photographed... https://www.scmp.com/magazines/style/entertainment/article/3286038/meet-matteo-milleri-who-was-married-leonardo-dicaprios-girlfriend-vittoria-ceretti-dj-known-anyma?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3286038/meet-matteo-milleri-who-was-married-leonardo-dicaprios-girlfriend-vittoria-ceretti-dj-known-anyma?utm_source=rss_feed Mon, 11 Nov 2024 10:00:19 +0000 Last month, China’s top courts published a judicial review on cryptocurrencies, online game coins and tips given to live-streamers. Such transactions, including transfers and conversions, are now included in money laundering activities. Chinese officials pointed to criminal usage of virtual currencies and game coins to evade China’s capital controls and to enable cross-border transactions. This increasing effort to curb illicit financial activities conducted via digital assets highlights the... https://www.scmp.com/opinion/china-opinion/article/3278744/will-chinas-latest-crypto-crackdown-stifle-its-gaming-industry?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3278744/will-chinas-latest-crypto-crackdown-stifle-its-gaming-industry?utm_source=rss_feed Tue, 17 Sep 2024 12:30:09 +0000 Xinmei Shen Xinmei Shen Hong Kong-based blockchain video gaming firm Animoca Brands has seen the value of its shares in secondary market trading shrink to more than half of its last valuation, as volatility persists in the cryptocurrency sector after an industry meltdown two years ago. Shares of Animoca Brands, an unlisted public company that delisted in Australia in 2020, are being traded on secondary markets at valuations that vary between US$1.5 billion to US$3 billion, co-founder and chairman Yat Siu told the... https://www.scmp.com/tech/blockchain/article/3274311/web3-firm-animoca-brands-sees-valuation-fall-little-quarter-worth-2022?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3274311/web3-firm-animoca-brands-sees-valuation-fall-little-quarter-worth-2022?utm_source=rss_feed Tue, 13 Aug 2024 12:00:12 +0000 Hong Kong blockchain investment and video gaming firm Animoca Brands is looking at a recovery in 2024 after its fortunes took a tumble last year, as the collapse of a number of cryptocurrency enterprises set back the city’s nascent digital-asset market. Animoca, which operates several non-fungible token games and has invested in hundreds of blockchain start-ups, on Wednesday reported that its 2023 bookings – including revenue and various digital-asset sales – totalled US$280 million, down 30 per... https://www.scmp.com/tech/blockchain/article/3270076/hong-kong-blockchain-gaming-firm-animoca-sets-sights-recovery-after-listless-2023?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3270076/hong-kong-blockchain-gaming-firm-animoca-sets-sights-recovery-after-listless-2023?utm_source=rss_feed Thu, 11 Jul 2024 11:00:09 +0000 Xinmei Shen Xinmei Shen Hong Kong-based blockchain video gaming firm Animoca Brands is weighing options for a public listing, possibly in Hong Kong or the Middle East, as early as late next year. “It’s contingent on many factors, but we feel confident that we will go public,” Siu said in a statement to the Post on Thursday. “And if that happens, it’s likely in the second half of 2025.” Siu is considering listing in Animoca’s home city of Hong Kong or a Middle Eastern market, he told technology news publication The... https://www.scmp.com/tech/blockchain/article/3268267/hong-kong-blockchain-gaming-firm-animoca-weighing-2025-26-ipo-founder-says?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3268267/hong-kong-blockchain-gaming-firm-animoca-weighing-2025-26-ipo-founder-says?utm_source=rss_feed Thu, 27 Jun 2024 10:00:17 +0000 Aileen Chuang Aileen Chuang Hong Kong possesses unique competitive advantages to develop decentralised finance (DeFi) and the metaverse as these blockchain technologies continue to evolve, according to two surveys by a government-backed body. The city’s advantages, based on surveys on DeFi and the metaverse with financial institutions, include a well-defined legal and regulatory framework, business-friendly environment, robust financial infrastructure and network, and highly skilled talent. The emerging DeFi and metaverse... https://www.scmp.com/business/banking-finance/article/3268006/hong-kong-unique-proving-ground-defi-metaverse-hkimr-studies-show?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3268006/hong-kong-unique-proving-ground-defi-metaverse-hkimr-studies-show?utm_source=rss_feed Wed, 26 Jun 2024 00:30:09 +0000 Agence France-Presse Agence France-Presse A US government report released Wednesday found non-fungible tokens (NFTs) to be “highly susceptible to use in fraud and scams”, urging for more regulations to be considered on these digital units. While NFTs and NFT platforms have so far rarely been used for acts like terrorist financing, they can be used to launder proceeds from crimes, said the report by the US Treasury Department. “This risk assessment demonstrates Treasury’s commitment to analyse illicit finance risks of newer technologies... https://www.scmp.com/tech/blockchain/article/3264636/us-treasury-says-nfts-highly-susceptible-fraud-and-scams-calls-platform-controls-fight-money?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3264636/us-treasury-says-nfts-highly-susceptible-fraud-and-scams-calls-platform-controls-fight-money?utm_source=rss_feed Thu, 30 May 2024 02:30:14 +0000 The non-fungible token (NFT) mania of 2021 was a phenomenon to behold. Dozens, if not hundreds, of celebrities were either pedalling NFT projects or creating their own. Savvy investors were making hundreds of millions of dollars, and it seemed like art – particularly digital art – was more lucrative than ever. More importantly, the blockchain technology that allowed buyers to irrefutably own said artworks was set to revolutionise the art business. Artists could now sell their work directly in... https://www.scmp.com/magazines/style/lifestyle/leisure/article/3260161/will-nft-art-market-ever-recover-bored-apes-and-cryptopunks-cashed-and-crashed-out-when-crypto?utm_source=rss_feed https://www.scmp.com/magazines/style/lifestyle/leisure/article/3260161/will-nft-art-market-ever-recover-bored-apes-and-cryptopunks-cashed-and-crashed-out-when-crypto?utm_source=rss_feed Sat, 27 Apr 2024 06:00:15 +0000 On the eve of the private opening of his first large-scale solo exhibition in Japan in eight years, Takashi Murakami posted on Instagram, at 3am, a selfie of him in his gallery captioned: “Still making.” “I couldn’t sleep. The whole night I was preparing for the exhibition, then I slept for two hours on the bullet train between Tokyo and Kyoto,” he says. On February 3, the 62-year-old Japanese contemporary artist opened “Takashi Murakami Mononoke Kyoto” at the Kyoto City Kyocera Museum of Art to... https://www.scmp.com/lifestyle/arts-culture/article/3252028/how-japanese-contemporary-artist-takashi-murakamis-new-exhibition-intertwines-his-entire-artistic?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3252028/how-japanese-contemporary-artist-takashi-murakamis-new-exhibition-intertwines-his-entire-artistic?utm_source=rss_feed Sat, 17 Feb 2024 23:45:11 +0000 Mabel Lui Mabel Lui In 2021, the meteoric rise of non-fungible tokens (NFTs) sent a shock wave through the art world. Just over a year later, the cryptocurrency bubble burst and trading volumes of these related digital assets plunged by 91 per cent from April to December 2022. For a while, we heard little more about this blockchain-based technology, its ability to provide proof of ownership for digital works and investment potential overshadowed by the collapse of crypto trader FTX and regulatory uncertainties. But... https://www.scmp.com/lifestyle/arts-culture/article/3251893/bitcoin-ordinals-after-burst-nft-bubble-blockchain-art-gets-another-medium-smaller-and-self?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3251893/bitcoin-ordinals-after-burst-nft-bubble-blockchain-art-gets-another-medium-smaller-and-self?utm_source=rss_feed Fri, 16 Feb 2024 10:15:11 +0000 Vincent Lok and Tansaeng Lee, both in their 30s, one living in Singapore and the other in Seoul, have a lot more in common than they realise. Both are part of a growing demographic of Asian men that is increasingly spending more on skincare. Lok, 32, a writer, spends S$30 (US$22.50) a month on day and night skincare products, such as a face wash, serum, moisturiser and sunblock. Lee, 35, a sales representative, meanwhile budgets US$20 a month for skincare products such as a toner, lotion,... https://www.scmp.com/business/article/3245737/euromonitor-says-china-drive-growth-global-beauty-industry-asian-men-use-more-skincare-cosmetic?utm_source=rss_feed https://www.scmp.com/business/article/3245737/euromonitor-says-china-drive-growth-global-beauty-industry-asian-men-use-more-skincare-cosmetic?utm_source=rss_feed Mon, 25 Dec 2023 04:30:11 +0000 Xinmei Shen Xinmei Shen China will draft a national Web3 development plan to suit the country’s needs, according to the Ministry of Industry and Information Technology (MIIT), which did not mention cryptocurrencies even as Beijing maintains its support for Hong Kong’s ambition to become a major virtual-asset hub. The Chinese government will enhance its research on Web3 and formulate a strategic development plan for the hypothetical next-generation version of the World Wide Web that is “in line with the country’s... https://www.scmp.com/tech/policy/article/3245895/beijing-draft-national-web3-development-plan-authorities-maintain-draconian-cryptocurrency-ban?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3245895/beijing-draft-national-web3-development-plan-authorities-maintain-draconian-cryptocurrency-ban?utm_source=rss_feed Thu, 21 Dec 2023 13:30:08 +0000 Donald Trump is selling pieces of the suit he wore for his August mugshot taken in a Fulton County, Georgia, jailhouse. For US$4,653, supporters get a small bit of fabric from the garments along with 47 NFT digital trading cards featuring the 77-year-old politician, plus the opportunity to dine with him at his Mar-a-Lago estate in Florida, according to the GetTrumpCards promotional website. Trump debuted his “Mugshot Edition” of cards on Tuesday. They feature renderings of the former president... https://www.scmp.com/news/world/united-states-canada/article/3244997/donald-trump-sells-pieces-suit-worn-georgia-mugshot?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3244997/donald-trump-sells-pieces-suit-worn-georgia-mugshot?utm_source=rss_feed Wed, 13 Dec 2023 21:59:56 +0000 Even those with zero interest in non-fungible tokens (NFTs) would be wise to focus on the current investigation into eye injuries reported by people who attended a recent party hosted by the company behind the Bored Ape cryptocurrency art collection. The organiser has admitted that UVA-emitting lights were likely to have caused eye and skin problems reported by at least 22 people attending the event a week ago at the city’s Kai Tak Cruise Terminal. Some partygoers experienced a burning... https://www.scmp.com/comment/opinion/article/3241159/injuries-hong-kong-party-shine-light-uv-exposure?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3241159/injuries-hong-kong-party-shine-light-uv-exposure?utm_source=rss_feed Fri, 10 Nov 2023 22:15:10 +0000 Sammy Heung Sammy Heung The organiser of a non-fungible token (NFT) event in Hong Kong where at least 22 people experienced eye pain, vision problems or skin irritation revealed on Thursday that UVA emitting lights were likely to be the cause of the conditions. Bored Ape Yacht Club, owned by Yuga Labs based in the United States, said on social media that reports of the eye and skin problems suffered by some attendees and staff at Saturday’s ApeFest event at Kai Tak Cruise Terminal continued to be “deeply concerning” to... https://www.scmp.com/news/hong-kong/health-environment/article/3240973/organiser-hong-kong-nft-event-says-eye-pain-reported-some-party-goers-may-be-due-uva-light-exposure?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3240973/organiser-hong-kong-nft-event-says-eye-pain-reported-some-party-goers-may-be-due-uva-light-exposure?utm_source=rss_feed Thu, 09 Nov 2023 14:32:22 +0000 Xinmei Shen Xinmei Shen Hong Kong financial technology firm OneDegree is on track to turn profitable next year on the back of its popular insurance policies for household pets and digital assets, according to company co-founder and chief executive Alvin Kwock Yin-lun. The seven-year-old start-up, one of the city’s four licensed virtual insurers, this year expects to roughly halve its underwriting losses, which totalled HK$121.8 million in 2022, and then turn a profit by the second half of 2024, Kwock said in an... https://www.scmp.com/tech/tech-trends/article/3240804/hong-kong-virtual-insurer-onedegree-track-turn-profit-2024-back-popular-coverage-household-pets-and?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3240804/hong-kong-virtual-insurer-onedegree-track-turn-profit-2024-back-popular-coverage-household-pets-and?utm_source=rss_feed Thu, 09 Nov 2023 00:00:18 +0000 The number of party-goers at a non-fungible token (NFT) event in Hong Kong complaining of eye problems or even temporary blindness has risen to 22, with a doctor suspecting the condition was due to excessive exposure to UV light. Organiser Yuga Labs, based in the United States, told the Post it was in contact with the affected attendees and was looking into the cause of complaints following Saturday’s ApeFest event at Kai Tak Cruise Terminal. “Right now, we are continuing investigating alongside... https://www.scmp.com/news/hong-kong/health-environment/article/3240704/hong-kong-partygoers-complain-severe-eye-pain-and-temporary-blindness-after-weekend-apefest-nft?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3240704/hong-kong-partygoers-complain-severe-eye-pain-and-temporary-blindness-after-weekend-apefest-nft?utm_source=rss_feed Wed, 08 Nov 2023 00:30:25 +0000 Thousands of Bored Ape Yacht Club owners descended on Hong Kong to attend Yuga Labs’ first international ApeFest for three days of bacchanalia over the weekend, offering signs of life for the city’s non-fungible token (NFT) market days after local officials had touted new tokenisation efforts. More than 2,000 people from 60 countries attended the third annual ApeFest – the first to take place outside New York – according to Yuga Labs, the company that manages what is perhaps the most... https://www.scmp.com/tech/policy/article/3240535/bored-apes-owner-draws-2500-nft-enthusiasts-hong-kong-first-international-apefest-win-local-web3?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3240535/bored-apes-owner-draws-2500-nft-enthusiasts-hong-kong-first-international-apefest-win-local-web3?utm_source=rss_feed Mon, 06 Nov 2023 14:00:10 +0000 Matt Haldane Matt Haldane As Hong Kong kicks off its annual FinTech Week conference, which marks one year since the city announced a policy shift with the intent of becoming a global cryptocurrency hub, big industry players have increasingly been focusing their messaging on a broader Web3 beyond just financialisation. Events such as September’s Edge Summit, the recently concluded ETH Hong Kong and a hackathon this past weekend hosted by Shanghai-based blockchain company Neo reflect a growing desire to focus on practical... https://www.scmp.com/tech/policy/article/3239581/hong-kong-web3-events-industry-players-look-past-recent-crypto-scandals-promote-blockchain?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3239581/hong-kong-web3-events-industry-players-look-past-recent-crypto-scandals-promote-blockchain?utm_source=rss_feed Mon, 30 Oct 2023 01:00:27 +0000 Yue Minjun, one of the biggest stars of the vibrant, post-1989 Chinese contemporary art scene, is launching his famous alter ego – the Laughing Man – as a collection of non-fungible tokens (NFTs). The 61-year-old, who lives in Beijing, tells the Post he is excited to use artificial intelligence to revisit his work in digital form and release products using blockchain technology, which helps authenticate each NFT and gives it value. It is “a pure utopian world where my creativity can be... https://www.scmp.com/lifestyle/arts-culture/article/3230324/chinese-contemporary-artist-yue-minjun-drops-first-nfts-market-crashing-it-joke-premium-quality-nfts?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3230324/chinese-contemporary-artist-yue-minjun-drops-first-nfts-market-crashing-it-joke-premium-quality-nfts?utm_source=rss_feed Tue, 08 Aug 2023 04:23:49 +0000 In the months that Jean-Marie Fourrier – fourth-generation president of Domaine Fourrier in Gevrey Chambertin, Burgundy, France – couldn’t meet his international distributors because of pandemic-induced travel bans, the uncertainty of what was to come loomed over him. His solution: non-fungible tokens (NFTs). Though admitting that he doesn’t fully grasp Web3 technology, Fourrier became one of the first wine producers to sell on Crurated, an online auction house founded in 2021 that lets... https://www.scmp.com/magazines/post-magazine/food-drink/article/3229504/blockchain-your-burgundy-how-nfts-are-being-minted-wine-and-spirits-producers-and-auction-houses-cut?utm_source=rss_feed https://www.scmp.com/magazines/post-magazine/food-drink/article/3229504/blockchain-your-burgundy-how-nfts-are-being-minted-wine-and-spirits-producers-and-auction-houses-cut?utm_source=rss_feed Mon, 31 Jul 2023 10:15:10 +0000 Xinmei Shen Xinmei Shen Blockchain game software unicorn Animoca Brands is injecting US$30 million into Hi, a cryptocurrency exchange start-up also based in Hong Kong, even as funding dwindles for similar businesses worldwide amid growing regulatory risks and economic uncertainties. The investment is part of a new strategic partnership between Hi and Animoca, one of the most active investors in the Web3 space known for operating the non-fungible token (NFT) game The Sandbox, the companies announced on Thursday. Hi was... https://www.scmp.com/tech/tech-trends/article/3229128/hong-kong-crypto-game-unicorn-animoca-brands-pours-us30-million-crypto-exchange-start-hi-amid-web3?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3229128/hong-kong-crypto-game-unicorn-animoca-brands-pours-us30-million-crypto-exchange-start-hi-amid-web3?utm_source=rss_feed Thu, 27 Jul 2023 11:02:00 +0000 Reuters Reuters The battle is finally ending between the French luxury house and NFT creator Mason Rothschild. A Manhattan federal judge on Friday granted Hermès’ request to permanently block Rothschild’s sales of “MetaBirkin” non-fungible tokens following a jury’s verdict that they violated the French luxury house’s trademark rights in its famed Birkin handbags. US district judge Jed Rakoff said the permanent injunction was justified because Rothschild’s continued marketing of the NFTs would likely confuse... https://www.scmp.com/magazines/style/luxury/article/3225673/hermes-just-got-metabirkin-nfts-permanently-banned-french-luxury-house-won-its-us-lawsuit-against?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3225673/hermes-just-got-metabirkin-nfts-permanently-banned-french-luxury-house-won-its-us-lawsuit-against?utm_source=rss_feed Wed, 28 Jun 2023 03:56:29 +0000 Reuters Reuters A set of non-fungible tokens previously bought by bankrupt cryptocurrency hedge fund Three Arrows Capital sold for US$10.9 million at Sotheby’s in New York on Thursday, the auction house said. Three Arrows Capital, which filed for US bankruptcy a year ago, spent US$15.5 million worth of cryptocurrency on the 37 NFTs in a series of purchases in July and August 2021, data from blockchain tracker DappRadar showed. Non-fungible tokens (NFTs) are a blockchain-based asset that represents ownership of... https://www.scmp.com/tech/tech-trends/article/3224262/three-arrows-capitals-37-nfts-sold-us46-million-loss-sothebys-amid-crypto-winter-has-seen-sales?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3224262/three-arrows-capitals-37-nfts-sold-us46-million-loss-sothebys-amid-crypto-winter-has-seen-sales?utm_source=rss_feed Fri, 16 Jun 2023 02:15:33 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification. As we stand at the cusp of a technological renaissance, Hong Kong is positioning itself as a pioneer by embracing groundbreaking technologies like non-fungible tokens (NFTs) and the metaverse. As... https://www.scmp.com/comment/letters/article/3222159/embracing-nfts-and-metaverse-hong-kong-can-remodel-its-identity-and-global-role?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3222159/embracing-nfts-and-metaverse-hong-kong-can-remodel-its-identity-and-global-role?utm_source=rss_feed Tue, 30 May 2023 03:30:08 +0000 Forkast.News Forkast.News In a special two-part series, Forkast. News examines the potential of Hong Kong and other emerging cryptocurrency hubs in Asia. Hong Kong, which ranks number three among 190 economies for ease of doing business, has been leading the narrative in Asia around the blockchain-based evolution of the internet, or Web3, since the end of last year when the city announced a raft of initiatives to attract digital asset businesses, including cryptocurrency platforms. While those plans include strict... https://www.scmp.com/business/article/3221502/hong-kong-singapore-tokyo-seoul-dubai-race-web3-hub-asia?utm_source=rss_feed https://www.scmp.com/business/article/3221502/hong-kong-singapore-tokyo-seoul-dubai-race-web3-hub-asia?utm_source=rss_feed Tue, 23 May 2023 05:28:41 +0000 Artifact Labs, a Hong Kong-based non-fungible token (NFT) company that puts digital versions of artefacts on the blockchain, said it is planning several new collaborations with global museums and cultural institutions after raising US$3.25 million in a seed financing round. “The main purpose of this seed round is really to help the business scale and grow,” said Phillip Pon, CEO of Artifact Labs, in an interview with the South China Morning Post on Tuesday. “That expansion will come from both... https://www.scmp.com/tech/tech-trends/article/3219973/hong-kong-nft-firm-artifact-labs-touts-upcoming-museum-partnerships-after-us325-mln-seed-round?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3219973/hong-kong-nft-firm-artifact-labs-touts-upcoming-museum-partnerships-after-us325-mln-seed-round?utm_source=rss_feed Tue, 09 May 2023 13:30:13 +0000 Agence France-Presse Agence France-Presse NFTs, the tokens of the crypto world linked to digital artworks, have been granted a show at the Pompidou Centre in Paris despite an almost total collapse in their price and cultural cachet. It could give the digital art form a much-needed lift. Blockbuster multimillion-dollar sales helped fuel NFT publicity in 2021, and prices soared amid a lack of regulation and general confusion over what the digital tokens were. In March 2021 – when many art auctions shifted to online platforms due to the... https://www.scmp.com/lifestyle/arts-culture/article/3219331/these-artists-get-place-history-art-nft-exhibition-pompidou-centre-could-give-digital-tokens-boost?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3219331/these-artists-get-place-history-art-nft-exhibition-pompidou-centre-could-give-digital-tokens-boost?utm_source=rss_feed Sat, 06 May 2023 10:15:16 +0000 More men and property owners use financial technology services in Hong Kong than women and non-property-owners, according to a survey conducted by Hong Kong Polytechnic University (PolyU) and local fintech start-up Asklora. The findings, released on Tuesday and covering more than 2,000 residents in the city, are consistent across four types of fintech products, including virtual bank services, online brokerage or “virtual wealth” services, virtual insurance, and virtual assets, PolyU’s Fintech... https://www.scmp.com/tech/tech-trends/article/3218335/men-and-property-owners-likelier-use-fintech-hong-kong-polyu-survey-shows?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3218335/men-and-property-owners-likelier-use-fintech-hong-kong-polyu-survey-shows?utm_source=rss_feed Tue, 25 Apr 2023 23:00:25 +0000 Matt Haldane Matt Haldane The Sandbox, the metaverse platform owned by crypto gaming company Animoca Brands, has partnered with two higher education institutions in its home city of Hong Kong, as it prepares for its next phase of growth amid declining cryptocurrency valuations and hype around virtual worlds. Hong Kong University of Science and Technology (HKUST) and Hong Kong Design Institute (HKDI) are two of the new partners joining The Sandbox’s Mega City 3, which is set to launch at the end of the month, company... https://www.scmp.com/tech/big-tech/article/3215989/animocas-sandbox-metaverse-expands-hong-kong-educational-partnerships-it-looks-growth-amid-fizzling?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3215989/animocas-sandbox-metaverse-expands-hong-kong-educational-partnerships-it-looks-growth-amid-fizzling?utm_source=rss_feed Tue, 04 Apr 2023 13:30:18 +0000 Art Basel Hong Kong, Asia’s biggest art fair, recently opened its doors to the world for the first time since the Covid-19 pandemic. This event is an important barometer of the success of Asia’s art scene but, nowadays, it is not just traditional artwork drawing attention and investment. Non-fungible tokens (NFTs) are a hugely popular and accessible form of art which draws a broader market of buyers. NFTs are blockchain-based tokens which represent a unique asset such as a piece of art, video or... https://www.scmp.com/comment/opinion/article/3215097/resolving-nft-disputes-art-world-needs-more-action-and-awareness-arbitration?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3215097/resolving-nft-disputes-art-world-needs-more-action-and-awareness-arbitration?utm_source=rss_feed Wed, 29 Mar 2023 07:45:19 +0000 The internet has altered the landscape of creativity and intellectual property forever. With the explosion of digital art, music and literature, creatives have been empowered to share work on a level never before seen. As emerging technologies like blockchain-based non-fungible tokens (NFTs) expand further into the digital asset space, artists and other creators need to understand when and how to use these tools to protect and boost their works. In a time when digital content is extremely easy... https://www.scmp.com/tech/tech-trends/article/3214952/how-nfts-can-protect-creators-and-fortify-their-legal-rights?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3214952/how-nfts-can-protect-creators-and-fortify-their-legal-rights?utm_source=rss_feed Mon, 27 Mar 2023 04:00:12 +0000 Have you ever wondered what it would look like if Charles Darwin rode Napoleon’s horse into battle against a dragon and its army of video game characters? Well, you could spend years – even decades – on artistic and design training to create the tableau yourself … or you could circumvent all that by using one of the many AI art generators that have become the subject of much public discussion recently. Platforms such as Dall-E, Midjourney and Stable Diffusion, which emerged in 2021 and 2022,... https://www.scmp.com/magazines/style/leisure/article/3214160/ai-future-art-and-will-it-put-artists-out-work-virtual-human-monoc-creation-hong-kongs-gusto?utm_source=rss_feed https://www.scmp.com/magazines/style/leisure/article/3214160/ai-future-art-and-will-it-put-artists-out-work-virtual-human-monoc-creation-hong-kongs-gusto?utm_source=rss_feed Tue, 21 Mar 2023 00:00:22 +0000 Amanda Sheppard Amanda Sheppard “I guess when I started it wasn’t as front-page news and it was a bit slow, then Beeple went boom and it started exploding.” Szabotage – a contemporary and street artist and designer who has seen his own success in NFT art – is referring to the record-breaking sale of Beeple’s NFT artwork Everydays: The First 5000 Days for US$69 million in 2021. The sale spearheaded a movement and interest in digital art, which was driven by an entirely new generation of art consumers. But since the landmark... https://www.scmp.com/magazines/style/leisure/article/3213750/whats-next-nft-art-despite-beeples-record-breaking-sale-crypto-scams-and-volatility-slowed-down?utm_source=rss_feed https://www.scmp.com/magazines/style/leisure/article/3213750/whats-next-nft-art-despite-beeples-record-breaking-sale-crypto-scams-and-volatility-slowed-down?utm_source=rss_feed Fri, 17 Mar 2023 00:00:21 +0000 Coco Feng Coco Feng Consumer complaints in China about non-fungible tokens (NFTs) over pricing and service problems surged 300-fold in 2022, exposing a problem that has become increasingly difficult to address, according to the State Administration for Market Regulation (SAMR), the country’s top market regulator. The number of NFT-related complaints filed through an official SAMR platform reached 59,700 last year, a significant jump from the 198 cases in 2021, when hype around the technology was at its peak but... https://www.scmp.com/tech/policy/article/3213723/nft-complaints-china-surge-300-fold-2022-crypto-market-faces-regulatory-commercial-risks?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3213723/nft-complaints-china-surge-300-fold-2022-crypto-market-faces-regulatory-commercial-risks?utm_source=rss_feed Thu, 16 Mar 2023 06:00:09 +0000 Erica Fong Erica Fong Blockchain and bitcoin might go hand in hand, but what do blockchain and art have to do with each other? As it turns out, quite a lot actually. From verifying the authenticity and provenance of works, to spurring new forms of digital art through non-fungible tokens (NFTs), blockchain technology is having a huge impact on the art scene. Put simply, blockchain is a secure and transparent electronic ledger that is digitally distributed, decentralised, open source and public. Each block in a chain... https://www.scmp.com/magazines/style/tech-design/article/3213612/4-ways-art-world-needs-blockchain-nfts-spurred-explosion-digital-art-christies-and-sothebys-make?utm_source=rss_feed https://www.scmp.com/magazines/style/tech-design/article/3213612/4-ways-art-world-needs-blockchain-nfts-spurred-explosion-digital-art-christies-and-sothebys-make?utm_source=rss_feed Thu, 16 Mar 2023 02:00:09 +0000 French luxury house Hermès has asked a Manhattan federal court to block artist Mason Rothschild from promoting or owning his “MetaBirkin” non-fungible tokens after a jury found they violate Hermès’ trademark rights in its famous Birkin bags. Hermès said in a court filing Friday that Rothschild has continued to market his NFTs despite the jury’s verdict last month. It asked the court to force him to stop using “Birkin” trademarks and to transfer the MetaBirkins website, the NFTs that he still... https://www.scmp.com/magazines/style/news-trends/article/3212663/hermes-seeks-permanent-block-artists-metabirkin-sales-despite-losing-his-case-mason-rothschild?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3212663/hermes-seeks-permanent-block-artists-metabirkin-sales-despite-losing-his-case-mason-rothschild?utm_source=rss_feed Tue, 07 Mar 2023 08:55:09 +0000 Xinmei Shen Xinmei Shen Forkast Labs, a new data intelligence service formed by the January merger of cryptocurrency news site Forkast.News and market tracker CryptoSlam, has launched a series of new non-fungible token (NFT) indices that aim to capture the health of the digital asset economy in real time, the company announced on Tuesday. The company said its main Forkast 500 NFT index aims to be “a proxy of the entire NFT market”, measuring real-time performance across 21 blockchains including Ethereum, Solana,... https://www.scmp.com/tech/tech-trends/article/3212568/crypto-data-intelligence-service-forkast-labs-launches-new-series-nft-indices-track-health-digital?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3212568/crypto-data-intelligence-service-forkast-labs-launches-new-series-nft-indices-track-health-digital?utm_source=rss_feed Mon, 06 Mar 2023 23:00:19 +0000 Xinmei Shen Xinmei Shen Hong Kong-based blockchain video gaming unicorn Animoca Brands is planning a major push into the Middle East after the Hong Kong government recently sought closer ties to the region, as the company continues to make big bets on Web3 start-ups amid cooling enthusiasm in the industry. The firm, whose investors include Sequoia China and Singapore’s state fund Temasek Holdings, is looking to put “significant investment” into the Middle East valued “in the tens of millions of dollars”, co-founder and... https://www.scmp.com/tech/tech-trends/article/3211969/animoca-brands-expands-web3-investment-middle-east-after-john-lees-visit-seeking-stronger-business?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3211969/animoca-brands-expands-web3-investment-middle-east-after-john-lees-visit-seeking-stronger-business?utm_source=rss_feed Wed, 01 Mar 2023 23:00:16 +0000 Xinmei Shen Xinmei Shen The Hong Kong government is allocating HK$50 million (US$6.4 million) this year to boost the development of the Web3 industry while it is “in its start-up period”, in addition to setting up a virtual asset task force led by the city’s financial chief. The money will go towards activities that include organising major international seminars and “workshops for young people” to aid the development of the Web3 ecosystem, Hong Kong Financial Secretary Paul Chan Mo-po revealed on Wednesday during his... https://www.scmp.com/tech/policy/article/3211091/web3-push-hong-kong-spend-us64-million-boosting-industry-plans-virtual-asset-task-force?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3211091/web3-push-hong-kong-spend-us64-million-boosting-industry-plans-virtual-asset-task-force?utm_source=rss_feed Wed, 22 Feb 2023 08:08:31 +0000 Matt Haldane,Xinmei Shen Matt Haldane,Xinmei Shen RMS Titanic Inc, the company behind exhibitions for the sunken ship, is turning relics from the ill-fated 1912 voyage into Web3 assets through a partnership with non-fungible token (NFT) company Artifact Labs and Venture Smart Financial Holdings, a Hong Kong asset management firm. The project aims to “bring the RMS Titanic and its physical artefacts into Web3” and to “place the legacy of the Titanic in the hands of the global public”, the companies announced in a statement on Tuesday. Artifact... https://www.scmp.com/tech/tech-trends/article/3211004/titanic-exhibitor-teams-hong-kong-nft-firm-artifact-labs-mint-relics-blockchain?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3211004/titanic-exhibitor-teams-hong-kong-nft-firm-artifact-labs-mint-relics-blockchain?utm_source=rss_feed Wed, 22 Feb 2023 00:00:20 +0000 Mia Castagnone Mia Castagnone The three Latin American founders of Hong Kong-based digital art platform Minte Art have long believed in “art without borders”, but what began as an effort to bridge cultural divides has turned into a project that will soon land the work of two of its artists on the moon as part of the first non-fungible token (NFT) lunar museum. Artists Guille Blancarte and Carlos Segovia Alanis, both based in Mexico and represented by Minte in Hong Kong’s Sheung Wan district, are among 222 artists selected to... https://www.scmp.com/business/article/3210315/hong-kong-digital-art-platform-have-nft-works-sent-moon-spacex-rocket-part-lunar-gallery?utm_source=rss_feed https://www.scmp.com/business/article/3210315/hong-kong-digital-art-platform-have-nft-works-sent-moon-spacex-rocket-part-lunar-gallery?utm_source=rss_feed Thu, 16 Feb 2023 00:30:16 +0000 Bloomberg Bloomberg Luxury brand Hermès International SA won its lawsuit against the digital artist behind “MetaBirkin” nonfungible tokens after convincing a Manhattan federal jury that Mason Rothschild’s sale of the NFTs violated Hermès’ rights to the “Birkin” trademark. The nine-person jury returned a verdict on February 8, awarding Hermès US$133,000 in total damages. They also found Rothschild’s NFTs aren’t protected speech under the US First Amendment. The trial was the first ever to examine how NFTs – digital... https://www.scmp.com/magazines/style/luxury/article/3209623/hermes-wins-lawsuit-against-metabirkin-nft-artist-mason-rothschild-was-selling-digital-fluffy?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3209623/hermes-wins-lawsuit-against-metabirkin-nft-artist-mason-rothschild-was-selling-digital-fluffy?utm_source=rss_feed Thu, 09 Feb 2023 08:06:59 +0000 Trademark infringement has extended to the metaverse, with luxury brand Hermès battling digital artist Mason Rothschild in court over the creation and sale of non-fungible tokens that depict images resembling its hard-to-get Birkin bags. A trial over the alleged infringement of Hermès’ intellectual property began in Manhattan federal court this week, with the multibillion-dollar corporation claiming the name of the NFTs – MetaBirkin – misled consumers into incorrectly believing they were... https://www.scmp.com/magazines/style/luxury/article/3208951/hermes-just-sued-digital-artist-over-his-metabirkin-nfts-mason-rothschild-previously-worked?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3208951/hermes-just-sued-digital-artist-over-his-metabirkin-nfts-mason-rothschild-previously-worked?utm_source=rss_feed Fri, 03 Feb 2023 07:00:14 +0000 Non-fungible token (NFT) platforms in China are expanding into Hong Kong to offset compliance risk for an industry that remains in a legal grey area on the mainland. It helps that the city has thrown out a welcome mat for digital asset industries. ShucangCN, an NFT platform that launched in January 2022 in China to quickly become one of the largest players, has set up NFT China Ltd, a decision its chief executive officer said he made after the territory released cryptocurrency-friendly policy... https://www.scmp.com/tech/tech-trends/article/3207842/china-nft-platforms-expand-hong-kong-face-compliance-risks-mainland?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3207842/china-nft-platforms-expand-hong-kong-face-compliance-risks-mainland?utm_source=rss_feed Tue, 24 Jan 2023 06:00:21 +0000 Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification. Every industry needs to embrace the opportunities and challenges brought by the metaverse, and the education sector is no exception. However, many educators seem to understand the metaverse as... https://www.scmp.com/comment/letters/article/3207169/educators-should-learn-about-metaverse-prepare-students-it?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3207169/educators-should-learn-about-metaverse-prepare-students-it?utm_source=rss_feed Wed, 18 Jan 2023 03:30:10 +0000 Too busy to keep up with all the new bar openings and exciting drinks news from around the world? Allow the STYLE team to bring you up to speed with some of our highlights from the last month – from the reopening of an iconic hotel bar, to the launch of a new rum that goes for US$1.5 million per bottle. Artistic ambassadeurs The Hôtel de Crillon, with its ridiculously swish location on Paris’ Place de la Concorde, was reopened earlier this year and is being run by Hong Kong-based Rosewood... https://www.scmp.com/magazines/style/leisure/article/3206472/3-ott-luxury-drinks-splurge-2023-us15-million-limited-edition-gold-bottle-dictador-rum-drink-revived?utm_source=rss_feed https://www.scmp.com/magazines/style/leisure/article/3206472/3-ott-luxury-drinks-splurge-2023-us15-million-limited-edition-gold-bottle-dictador-rum-drink-revived?utm_source=rss_feed Thu, 12 Jan 2023 00:00:22 +0000