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Korea NFT Projects Should Embrace Community To Build Success, Says BigONE Exchange’s Anndy Lian

Korea NFT Projects Should Embrace Community To Build Success, Says BigONE Exchange’s Anndy Lian

Speaking at the 1st Korea Blockchain Conference (KBCC) on February 15, 2022, the Chairman of BigONE Exchange Anndy Lian underlined the importance of a powerful online community to securing the success of any NFT project.

 

As well as the obvious boom in NFT artwork, and in Korea the use of NFTs to promote K-pop, Lian said the growth in the use of NFTs to connect fans and artists through all-access type membership was notable: “Whether it’s to get closer to your favorite UFC fighter or singer these are hot trends in the market right now driven by the power of community.”

 

Another form of community where we are going to see the growth of NFTs is around meme coins, he added: “That kind of utility is really powerful because they have the community backing them you know, so they will have the benefit of starting their NFT project with a few hundred thousand users right at the start.” It was for this reason, due to the strength of their community, that Lian added that he saw these big communities as personally worth investing in.

 

In terms of Korea’s leading role in blockchain innovation Lian told the panel audience that from his experience, talking with corporations such as Samsung and Hyundai, as well as senior Government officials, the key players are all very mindful of the importance of blockchain technology for the country’s future. “It’s not simply about creating decentralized data storage but how this technology will be embedded in our lives, enabling the automation of all aspects of the economy for the benefit of all citizens.”

The panel titled ‘Blockchain Technology, Innovation And Opportunity’ was led by Jenny Zheng (Bybit, NFT BD Lead), Anndy Lian (BigONE Exchange, Chairman), Davy Goh (Passion VC, CEO), and Joe Lu (Origin Storage, Partner), and Hwang Byung-sun (Big Bang Angels, CEO).

The event’s opening session was given by HS88 Chairman Kim Ho-seong. The session ended with a speech by Won Hee-ryong, a member of the People’s Power, and Lee Sang-ki, the Korean representative of the World Blockchain Organization (WBO).

KBCC was designed to help the growth and development of the blockchain industry. The event aims to let the South Korean audiences know more about the technology by bringing foreign experts to share their experience.

About BigONE Exchange

 

BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development. Further information here.

 

Contact:

Name: Linda

Email: linda@big.one

Website: www.big.one

 

 

 

Original Source: https://www.marketwatch.com/press-release/korea-nft-projects-should-embrace-community-to-build-success-says-bigone-exchanges-anndy-lian-2022-03-07

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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New NFTs Need To Build Community To Succeed, Says Head of Crypto Exchange

New NFTs Need To Build Community To Succeed, Says Head of Crypto Exchange

Speaking at the 14th World Blockchain Summit MARVELS, the Chairman of BigONE Exchange Anndy Lian said that key to success for NFT startups was a supportive community and a compelling user case. As a guest speaker at the event on February 22, under the theme of ‘NFT META Korea 2022’, Lian agreed that the global market for NFTs was very active currently but wanted to share his experience in how NFT projects can be successful in the longer run.

 

“While NFT creation looks straightforward the true essence of the NFT, the true value comes from community, as well as the technology and the tokenomics. If you are looking to launch a NFT studio, and you wish to partner with our partners, it could be with a meme coin community with Shiba Inu, Kishu Inu, or XRdoge, as all these projects have a very big community behind them; if you need that kind of partnership to succeed in the global market then we can help you,” Lian told his audience at the Seoul event.

 

The market in NFTs boomed in 2021, with total sales globally totaling $25 billion, up from just $94.9 million the year before, according to DappRadar. “Not surprisingly social media is awash with tales of get rich quick NFT success, from CryptoPunks to Bored Apes, and everything in between, but the fascination with digital art is going to change in 2022, with more use cases around utility. Clearly NFT projects need to be as transparent as possible when creating their offerings and grow a viable community as they progress, said Lian

 

One key factor that should be with a team from the outset is to ensure the NFT has utility, which is closely tied to the importance of community. At its core of course NFTs are a great way for creators and artists to contact directly with their fans, with their community. And that’s probably the most compelling use case to date that’s going to sustain the growth of NFTs into the future, Lian added.

 

Lian illustrated for the audience the importance of getting this relationship between the NFT and its community, between creators and fans, with the example of starting a NFT around a well-known soccer player. While on paper the fans of a soccer player appear to be automatically part of the NFT community you are building, that isn’t necessarily the case. What is needed is a strong bond to be created between the fans and the soccer star and the platform for it to work. This was related to the importance of ensuring that when you see a new project in the NFT space you should as an investor consider whether it has utility.

 

Lian added that for NFT creators it was important to be transparent about their offering to investors, not only to better convey its value, but also to ensure that when regulators start to enter the space in 2022 the quality of the NFT industry stands up to scrutiny.

 

Oh Myung, former Deputy Prime Minister and Minister of Science and Technology; Oh Se-hoon, Mayor of Seoul City; Lee Won-Wook, National Assemblyman and Minister of Land, Infrastructure, and Transport; Cho Myung-hee, chairman of the National Assembly and the Special Committee for Future Industry Jobs; Yoon Chang-Hyun, chairman of the Special Committee for Virtual Assets; and Yang Jung-sook, a member of the National Assembly and the Korea Communications Commission delivered speeches opening the conference.

 

About BigONE Exchange

 

BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development. Further information here.

 

 

 

Original Source: https://www.asiaone.com/business/new-nfts-need-build-community-succeed-says-head-crypto-exchange

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

No ban on crypto advertisements; to soon come out with Bill, says Nirmala Sitharaman

No ban on crypto advertisements; to soon come out with Bill, says Nirmala Sitharaman

The government will soon introduce a new crypto bill, said Finance Minister Nirmala Sitharaman during Question Hour in Rajya Sabha today.

The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 seeks to ban all but a few private cryptocurrencies to promote underlying technologies while allowing an official digital currency by RBI.

After approval of the Cabinet, the government will introduce a new crypto bill in Parliament after Cabinet approval, FM Nirmala Sitharaman said.

Speaking in Lok Sabha, the finance minister said, “We are close to bringing a bill in parliament.. It will be introduced in the house once cabinet clears the bill.”

The government will not ban advertisements on cryptocurrency. Stating this in Lok Sabha, Finance Minister Nirmala Sitharaman said, “This is a risky area and not in a complete regulatory framework. No decision was taken on banning its advisements. Steps are taken to create awareness through RBI & SEBI.

Anndy Lian, Chairman, BigONE Exchange said, “There is a need to have a good understanding on how cryptocurrencies in India will be like. Firstly, there is no blanket ban. The crypto bill in circulation is an old bill. The regulators are reworking on the new bill. Secondly, there is no proposal to recognise Bitcoin as a currency. With the given scenarios, it is only right for the government not to ban advertisements on cryptocurrency related promotions. But do bear in mind, there are advertising laws in India such as the Press Council of India Act, 1978 and there is an Advertisement Standard Council of India to observe fairness. Therefore, this does not mean that crypto companies can go “Wild Wild West ” and put up misleading messages or advertisements promising sure-win schemes.”

Govt not to recognise bitcoin as currency

On November 29, Sitharaman in reply to a query on whether the government has any proposal to recognise Bitcoin as a currency in the country, the Finance Minister said ”No, sir”.

The Ministry said, “Cryptocurrencies are unregulated in India. RBI has vide its circular dated May 31st, 2021, advised its regulated entities to continue to carry out customer due diligence processes in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT) and obligations of regulated entities under Prevention of Money Laundering Act, (PMLA), 2002 in addition to ensuring compliance with relevant provisions under Foreign Exchange Management Act (FEMA) for overseas remittances.”

The government will look at a regulatory mechanism like it is done for currency by Reserve Bank of India (RBI), according to news reports. Cryptocurrency could be treated as a commodity and will be taxed. There will be a regulatory mechanism on cryptocurrency like there is RBI for currencies.

The Government has received a proposal from RBI in October, 2021 for amendment to the Reserve Bank of India Act, 1934 to enhance the scope of the definition of ‘bank note’ to include currency in digital form.

 

 

Original Source: https://www.freepressjournal.in/business/no-ban-on-crypto-advertisements-to-soon-come-out-with-bill-says-nirmala-sitharaman

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j