NEAR Foundation To Build Asian Web3 Hub in South Korea

The NEAR Foundation announced last Wednesday that it is set to establish a Web3 hub in South Korea.

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The NEAR Foundation announced that it is set to establish a Web3 hub in South Korea to expand its allegiance with blockchain projects in Korea as well as throughout the Asian region. The venture aims to attract Korean local blockchain projects and professionals to the NEAR Protocol, focusing on Web3 gaming.

According to the foundation’s media release, its new venture will also hold events to promote the growth of its blockchain community in Korea. They will hold meetups for developers and investors, hackathons, and provide support for Korea’s blockchain and Web3 communities in universities.

Based in Switzerland, the NEAR Foundation is a non-profit organization behind the NEAR Protocol,  a layer 1 blockchain that provides developers a platform to build decentralized applications (dApps).

Last April, Near Protocol successfully raised $350 million in a funding round led by hedge fund Tiger Global. It also received support from Crypto-native investors such as Republic Capital, FTX Ventures, Hashed, and Dragonfly Capital, among others. The raised funds will be used to “accelerate the decentralization of the NEAR ecosystem.” (Read more: Near Protocol Raises $350M to Accelerate Decentralization)

South Koreans, like the Filipinos, have been active in integrating web3 and cryptocurrency into their web and financial transactions. In fact, last April, Binance added the country as one of its new local exchanges in its portfolio. Binance KR was the first global use case of the Binance Cloud Solution and will leverage the core functionalities of Binance, such as its spot trading liquidity, matching engine, security, custody, and risk controls. (Read more: Binance to Launch in South Korea)

South Korean brands have also been venturing into the metaverse by launching non-fungible token platforms and releasing NFTs themselves. One of the latest was NOW.Drops. It was launched by South Korean internet giant Naver Corp. and online platform LINE which aims to help K-pop fans create personalized NFTs. (Read more: Kpop Girl Group NMIXX Holds Showcase on Newly Launched NFT)

This article is published on BitPinas: NEAR Foundation To Build Asian Web3 Hub in SoKor

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