SINGAPORE, May 11, 2022 /PRNewswire/ -- Blockchain Association Singapore (BAS) today announced a strategic partnership with Crypto.com, through the signing of a Memorandum of Understanding (MOU). Through this strategic partnership, BAS and Crypto.com will collaborate to advance both parties' work in the Non-Fungible Token (NFT) ecosystem. BAS and Crypto.com will also seek to leverage each other's network and expertise to facilitate wider understanding of the constantly evolving NFT landscape, while fostering wider collaboration in this space.
As part of the strategic partnership, Crypto.com will power the second edition of the NFT charity auction event, Blockchain for Good. Blockchain for Good is an initiative launched by the NTUC-U Care Fund and BAS to raise funds for various assistance programmes, including helping support cost of living for families in need, school expenses for under-resourced youth, as well as elder care. Last year, more than S$400,000 was raised through the initiative, exceeding the original target of S$250,000. All donations raised will go towards supporting various U Care Fund assistance programmes.
The auction, available to participants in Singapore, will take place in July 2022 using Crypto.com's NFT marketplace.
"We are honoured to collaborate with Crypto.com for the advancement and advocacy of NFTs," said Mr Chia Hock Lai, Co-Chairman of BAS. "The influence and prominence of NFTs continues to increase significantly, particularly across Asia. A recent poll[1] conducted across 20 countries found that the highest NFT adoption rates were in Asia. The study found that the Philippines has the largest proportion of NFT owners (32%), followed by Thailand (27%), Malaysia (24%), UAE (23%) and Vietnam (17%). The acceptance and trend towards NFT ownership has been in the ascendancy in recent years and we expect this to continue. BAS is committed to further educating the public on this emerging technology jointly with Crypto.com."
"We are excited to partner with BAS to not only advance NFTs in the market, but to also further harness the positive impact NFTs and the entire crypto ecosystem can have in our communities," said Eric Anziani, Chief Operating Officer at Crypto.com. "By partnering with BAS on this important initiative, we will be able to maximize our efforts while also continuing to build this technology for a highly engaged regional population."
NTUC Assistant Director-General Zainal Sapari, who oversees the NTUC-U Care Fund, said: "We are thrilled to collaborate with BAS once again as part of our fundraising efforts to help lower-income members and their families. It is our second year doing an NFT charity auction, this time with Crypto.com's domain expertise. Amidst a vibrant NFT marketplace that has grown by leaps and bounds in the past year, I hope more corporates and individuals will come on board to give their support towards this fundraising effort for a worthy cause."
BAS was established to facilitate collaboration between market participants and stakeholders in the Blockchain ecosystem. The association is an effective platform for members to engage with multiple stakeholders to find solutions to issues and to promote best practices in a collaborative, open, and transparent manner.
Blockchain For Good is taking place as part of Singapore Blockchain Week 2022. The hybrid event will provide unique in-person and digital engagements for participants and attendees. The anchor summit, including speaking engagements and exhibitions, will be held on July 26 and 27. BAS will also coordinate a series of other accredited events, such as hackathons on July 25 and an innovation lab crawl, career fair, workshop and other joint events on July 28 and 29. Supported by Singapore's leading government agencies, industry leaders from across the world will converge for Singapore's premier blockchain event.
About Blockchain Association Singapore
The Blockchain Association Singapore (BAS) seeks to empower its members and the community to leverage blockchain and scalable technologies for business growth and transformation.
The Association is designed to be an effective platform for members to engage with multiple stakeholders – both regional and international – to discover solutions and promote best practices in a collaborative, open, and transparent manner. It aims to promote blockchain literacy and build a strong talent pipeline for the digital economy in Singapore.
For more information, please visit: https://singaporeblockchain.org
About Crypto.com
Founded in 2016, Crypto.com serves more than 50 million customers with over 5,000 people in offices across the Americas, Europe and Asia, and is the world's fastest growing cryptocurrency platform. Our vision is simple: Cryptocurrency in Every Wallet™. Built on a foundation of security, privacy and compliance, Crypto.com is committed to accelerating the adoption of cryptocurrency and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem. Learn more at https://crypto.com.
[1] Global NFT Adoption Report, Finder.com, 23 November 2021 |
