Altcoin

The Singapore Effect

In the world of Crypto, GameFi, and the METAVERSE, we think in terms of a global industry, which of course it is, although you will be very interested to learn that there is one country dominating when it comes to leading Crypto projects and indeed the individuals behind those projects.

The location of this influx of crypto-based companies is SINGAPORE.

Let’s start about, Vitalik Buterin. Crypto’s first billionaire and co-founder of Ethereum, which is arguably one of the more popular Blockchains at present, he is domiciled in Singapore.

Zach Burke founder of Mintable – a platform that operates on the Ethereum Blockchain, allowing users to create, trade, buy and sell digital assets on the blockchain through NFTs (Non-Fungible Tokens), is also domiciled in Singapore.

MetaKoven – Billionaire buyer of the worlds’ most expensive NFT – A Beeples’ NFT for $69.3 million – domiciled in Singapore.

CZ the founder and CEO of Binance, the world’s largest cryptocurrency exchange by trading volume since April 2018 – domiciled in Singapore.

Gemini a US crypto exchange founded by the Winklevoss twins just announced its offices in Singapore.

Josh G, co-Founder of Aier Studios Ltd and JEDSTAR – A brand new DeFi and GameFi 3 token ecosystem that is currently developing a DCCG (Digital Collectible Card Game) and an MMORPG (Massively Multiplayer Online Role-Playing Game) – domiciled in Singapore also.

Why? Let’s think about what it is that SINGAPORE has to offer?

Singapore is known as a tax haven for new businesses but also for its positive attitude toward cryptocurrency in general. In fact, Singaporeans are so friendly to their crypto stance that the government has deemed cryptocurrency legal, has no capital gain tax on crypto, and actively encourages and sponsors their citizens to learn about cryptocurrency. They already have a regulatory framework in place, which is regulated by the Central Bank Of Singapore or the Monetary Authority of Singapore (MAS). 

Josh G, who leads the JEDSTAR team and is a resident of Singapore for the last 20 years, quotes ‘Singapore is leading the way towards mass adoption of cryptocurrency, leading the way in terms of tax, regulations and government adoption”. 

For JEDSTAR, Singapore as an HQ was an obvious choice, as the project is currently developing blockchain games and launching their GameFi and play-to-earn token $KRED in December, being in a crypto-friendly environment as well as being in close contact with big names in the gaming industry who are such as Ubisoft who are also based in the country helps the company and project thrive in ways that wouldn’t be possible in other countries. 

JEDSTAR is only at the beginning of its journey, having launched only 3 months ago, and while it’s token $JED has seen a surge of over 100,000% it still has a lot of potential for growth as the current market cap is still around 30 million USD and I know I’ll be watching it with interest as this project grows in direct competition with Axie Infinity, Sandbox and Decentraland.

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