OpenSea's dominance in the NFT marketplace has significantly declined from over 75% to around 20% as of late 2022, with Blur emerging as a major competitor. Blur, focusing on high-volume traders and offering robust analytics, facilitated $301 million in trades shortly after its launch. By February 2023, Blur overtook OpenSea in market dominance. The pseudonymous cofounder of Blur, known as Pacman, revealed his identity as Tieshun Roquerre, a 24-year-old software engineer and founder of Namebase. Despite OpenSea's continued popularity among art-focused and new NFT users, Blur now commands 76% of the trading volume.

Five years after a $500,000 wager between Ethereum co-founder Joe Lubin and Bitcoin maximalist Jimmy Song, the outcome remains ambiguous. The bet hinged on whether five Ethereum-based decentralized applications (dapps) would achieve significant user traction by May 2023. Data from blockchain firms Artemis and Nansen suggest that five dapps met the criteria, but there is debate over whether these qualify as true dapps. The results highlight the early stage of the industry and the ongoing rivalry between Ethereum and Bitcoin. Despite the uncertainty, the wager underscores the evolving landscape of decentralized applications and blockchain technology.

With the Samsung Galaxy Note7's market exit, LG aims to fill the gap with its new flagship V20, especially in South Korea where it has seen strong sales. The V20, a high-end, sleek upgrade from the failed modular G5, focuses on content creation features for the U.S. market. LG hopes the V20 will restore positive brand perception and market share, emphasizing high-quality design and performance, including advanced audio and video capabilities, and the latest Android Nougat OS.

The article discusses the varying conditions for foreign entrepreneurs looking to establish start-ups in different Asian countries. It highlights the growth of entrepreneurship in Asia and the mobility of younger entrepreneurs, as mentioned by Peter Wall, cofounder of Hubud in Bali. The article provides insights into the advantages and challenges in countries like Singapore, South Korea, Japan, China, Taiwan, Thailand, Hong Kong, and Indonesia. Factors such as market size, infrastructure, legal barriers, cultural differences, government support, and local competition are examined. Specific conditions for setting up a business, such as capital requirements, visa processes, and employment conditions for foreigners, are detailed for each country. The article is written by Sang Youn-joo and Elaine Ramirez for The Korea Herald and is part of a series on foreigners working in Korea's technology start-up ecosystem.

El Salvador's ambitious plan to create Bitcoin City in La Unión, featuring zero taxes and powered by geothermal energy, faces skepticism due to previous issues with the country's bitcoin wallet rollout and delays in bitcoin bond issuance. While some locals see potential economic benefits, others are uncertain about the project's feasibility. The government plans to issue a $1 billion bitcoin-backed bond to fund the city's development, but geopolitical factors have caused delays. Despite a high acceptance rate of bitcoin in La Unión, actual usage remains low, with many businesses reporting no significant impact from bitcoin transactions.

BLACKPINK, a South Korean all-girl K-pop group, is making significant strides in the Western music market, following the success of BTS. The group, consisting of members Jisoo, Jennie, Rosé, and Lisa, has achieved notable milestones, including being the first girl group to land on Forbes Asia’s 30 Under 30 list and dominating YouTube's top 50 global artists. Their global appeal is attributed to their multicultural backgrounds and multilingual abilities. As they embark on their 'In Your Area' world tour, they are set to perform at Coachella and release their third album, 'Kill This Love,' showcasing their evolving musical spectrum.

In 2018, South Korea emerged as a significant player in the cryptocurrency market, with seven of the country's wealthiest individuals investing heavily in digital currencies. The country became the third-largest market for bitcoin trading and saw a surge in cryptocurrency accounts. The phenomenon known as the Kimchi Premium led to a significant price premium on popular coins. Despite a market crash in January, leading companies and banks continue to invest in cryptocurrencies and blockchain technology. Key players in the gaming industry, such as Nexon, Smilegate, and Netmarble, are exploring the integration of digital currencies into their platforms.

South Korea's leading gaming companies, including Nexon, Netmarble, Yello Mobile, NHN Entertainment, and Smilegate, are increasingly investing in blockchain and cryptocurrency technologies to create new business models and revenue streams. These companies are exploring various applications of blockchain, from in-game currencies to potential ICOs, despite the country's slower blockchain development compared to other nations. Key figures in the industry, such as Bang Jun-hyuk of Netmarble, are driving these initiatives, while academic and market experts provide insights into the potential and challenges of these technologies.

South Korea is enhancing its recycling capabilities and moving away from plastic bags and hard-to-recycle plastic bottles following China's ban on certain recyclables. Supermarket chains are phasing out excess plastic packaging, and the government is encouraging more voluntary agreements with retailers. Additionally, there is a push for companies to use clear PET bottles instead of colored ones, as they are easier to recycle. Coca-Cola Korea's Sprite, known for its green bottles, is implicated in this change.

CoinDesk, in partnership with South Korean news company The Hankyoreh, launched CoinDesk Korea to combat fake news in the cryptocurrency industry. The collaboration aims to provide legitimate news and increase understanding of the market, which has been plagued by scams and misinformation. The Hankyoreh's commitment to democracy resonates with the decentralized nature of blockchain. CoinDesk's CEO Kevin Worth emphasizes the importance of overcoming language barriers to access news. Editor Yoo Shinjae of CoinDesk Korea highlights the need for serious discussion and responsible journalism to build trust and make the market safer.

Coinone, a major South Korean crypto exchange led by CEO Cha Myunghun, has grown rapidly amid the country's cryptocurrency boom. As a Forbes 30 Under 30 Asia honoree, Cha emphasizes the importance of responsible trading and education in the industry. Despite regulatory challenges and market volatility, Coinone has set high technological standards and is expanding its services, including remittances and international exchange. Cha also aims to foster a progressive work culture within the company.

South Korea's 30 Under 30 Asia 2018 honorees reflect a social renaissance driven by progressive youth challenging conservative norms. Highlighted figures include John Woong-hee Lee, founder of One Life One Tech, who emphasizes social responsibility in business, and artist Heezy Hang, who uses his art to advocate for LGBTQ rights. The trio behind Instinctus promotes reproductive health and challenges taboos around contraception. The article underscores the impact of South Korea's candlelight revolution and the ongoing #MeToo movement, showcasing the country's potential for socially-driven entrepreneurship.

South Korea demonstrated its technological advancements in 5G at the PyeongChang Winter Olympics, with applications such as a LED-lit dove of peace and immersive broadcasting. The country aims to lead in future technologies, with 5G being the core infrastructure for autonomous vehicles, IoT, and virtual/augmented reality. Local telecom giant KT plans to deploy 5G nationwide by late 2019, and the technology is expected to revolutionize various industries, including transportation and e-commerce. Challenges remain in creating a global standard, but South Korea is poised to announce its 5G spectrum, allowing KT to begin infrastructure rollout.

At the PyeongChang Winter Olympics, a ski rental shop near the Olympic Plaza is the first venue in the host city to accept cryptocurrency, specifically Ethereum, as payment. Despite language barriers, the shop uses Google Translate and the local payment platform Coinduck to facilitate transactions. South Korea is currently embroiled in debates over cryptocurrency regulation, with anonymous transactions banned and discussions ongoing about ICOs. Coinduck, launched by Chain Partners, is optimistic about the future of crypto payments and is working to onboard more vendors. Although no crypto transactions have occurred at the ski shop yet, Coinduck is prepared to handle the volatility of Ethereum by instantly converting it to Korean won.

South Korea's startup ecosystem is maturing with several startups gaining momentum. Baedal Minjok and Viva Republica are on track to become billion-dollar companies. Hyperconnect, Market Kurly, and Zigzag are making significant strides in their respective markets, with potential IPOs on the horizon. KSV is making waves in the esports industry, while Looxid Labs is innovating in VR technology. Wanted Lab is expanding its job matching platform, and SendBird is growing its chat API service. Bespin is leading in cloud services, and XBrain is developing machine learning solutions. These startups are poised for significant growth and impact in 2018.

South Korea's financial regulators, led by the Financial Services Commission, are implementing sweeping cryptocurrency regulations to curb speculative overheating and illegal activity. These measures include banning foreigners and minors from opening new cryptocurrency accounts and banning anonymous trading on domestic exchanges, effective January 30. The regulations aim to tackle money laundering and related crimes, with the government expressing concern over market manipulation and illegal fund injections. Existing foreign investors will be allowed to withdraw assets but cannot make new deposits. The Korea Blockchain Association and its member exchanges are aligning with the new regulations, which also require real-name verification for trading. The government's approach seeks to balance the potential of blockchain technologies with the need to control risky behaviors such as hacking and fraud.

The South Korean government is considering a ban on cryptocurrency trading to curb speculative overheating, with Justice Minister Park Sang-ki leading the effort. The proposal has already impacted global markets, causing significant losses. The Ministry of Justice is preparing regulations, including potential imprisonment for exchange CEOs, but faces opposition from other government officials and the Korea Blockchain Association. The legislative process is expected to be lengthy, and investors may have a grace period to liquidate or transfer assets if exchanges are closed.

South Korea's startup scene is experiencing steady growth, driven by government support and the emergence of high-quality startups. Notable companies like Viva Republica and Woowa Bros. have made significant strides, while sectors such as AI, blockchain, and fintech are gaining momentum. The government, under President Moon Jae-in, continues to foster the ecosystem through initiatives and substantial funding. Despite challenges in the cryptocurrency sector, blockchain technology shows promise, with several startups and major companies embracing it. The overall sentiment towards the startup environment is positive, with a focus on sustainable growth and innovation.

In 2017, South Korea experienced significant volatility and regulatory developments in the cryptocurrency market. Key events included the country's first ICOs, the rise of the Kimchi Premium, major companies like Samsung SDS and Nexon entering the blockchain space, and the government's increasing regulatory actions against ICOs and cryptocurrency exchanges. Despite regulatory uncertainties, the local blockchain scene remained active, with the Korea Blockchain Association pledging self-regulations. The government's stance on cryptocurrencies and ICOs remains cautious, with potential for stricter regulations in 2018 to prevent fraud and speculation.

South Korea's tech giants, including Samsung and LG, are late entrants to the smart speaker market, facing challenges such as language barriers and risk aversion. Despite the country's tech-savvy population and high smartphone ownership, the adoption of smart speakers remains uncertain. Telecom companies like SK and KT were the first to launch smart speakers, but their strategies may hinder rapid development. In contrast, internet companies Kakao and Naver are seen as strong competitors due to their comprehensive AI platforms and extensive consumer services. The future of smart speakers in South Korea will depend on content and how it enhances daily life.

The article discusses the legal battle of North Korea Tech, a San Francisco-based news website, against its censorship in South Korea. The site, which reports on North Korea's tech developments, was blocked by South Korean regulators for allegedly promoting pro-North Korean content. After over a year of litigation, the site won an appeal, marking the first instance of a foreign site successfully appealing against censorship in South Korea. The case highlights the tension between national security and internet freedom, with implications for future censorship practices and the right to information.

SparkLabs Group, South Korea's first startup accelerator, has launched SparkChain Capital, a $100 million fund dedicated to blockchain and cryptocurrency innovations. The fund, led by Joyce Kim, aims to support early-stage startups and build long-lasting technological platforms. SparkLabs has previously invested in blockchain startups such as Blocko and Sentbe in South Korea, and Cyrex in Stockholm. The fund plans to invest in entrepreneurs and teams, with a focus on due diligence and long-term collaboration. SparkChain Capital is also planning an ICO and intends to integrate blockchain software to streamline its operations.

Japan, an early adopter of Bitcoin as legal tender, faces uncertainty regarding its stance on initial coin offerings (ICOs). Despite its significant influence in the cryptocurrency market, Japan's conservative industries and cautious regulators may still impose a ban on ICOs. Koji Higashi, cofounder of IndieSquare, highlights the potential risks and benefits of ICOs, noting the possibility of scams and the need for regulation. While Japan's regulators have been gradually learning about the technology since the Mt. Gox hack, the future of ICOs in Japan remains uncertain. The article also mentions the involvement of big banks in launching the J Coin and retailers like Bic Camera accepting Bitcoin.

South Korean regulators are suing Airbnb over its strict cancellation policies, marking the first case against a foreign business operator for failing to comply with a corrective order. The Korea Fair Trade Commission (FTC) claims Airbnb did not amend or delete a clause barring refunds within 60 days, as previously agreed. Despite Airbnb's defense that it complied with the FTC's request, the regulator argues the changes were insufficient and harmful to Korean consumers. The FTC plans to proceed with prosecution, while Airbnb maintains that applying Korean law globally is inappropriate.

China's recent stringent regulations on initial coin offerings and cryptocurrency exchanges are unlikely to impact the broader Asian market, according to Ethereum co-creator Vitalik Buterin. While China may continue to tighten its grip, other countries like Singapore, Thailand, and Japan are adopting more permissive approaches. Buterin emphasizes the importance of flexibility in early-stage regulations to combat bad actors without stifling innovation. Despite regulatory challenges, the cryptocurrency market in Asia remains robust, with significant fundraising activities in South Korea and Singapore. Buterin predicts that Ethereum will eventually match Visa in scale, though security and scalability remain critical challenges. He advocates for continued research and improvements in blockchain technology to ensure secure and scalable solutions.

Duolingo has launched a Korean course for English learners, with plans to introduce Mandarin Chinese by the end of the year. The company is focusing on the high demand for Asian languages, driven by cultural phenomena like K-pop and K-dramas. Duolingo's approach to language learning, which emphasizes conversational phrases over rote memorization, has proven successful, particularly with its Japanese course. The company is adapting its methods to meet the unique needs of Asian markets, including technical adaptations for non-Roman alphabets and localized content. Duolingo's revenue model includes ads, in-app purchases, and English certification tests, and it recently received $25 million in funding to support new initiatives.

A children's video titled 'Baby Shark' has gone viral in Indonesia, inspiring a wave of cover dances, including by internet celebrity Amanda Cerny. The song, part of the Pinkfong education brand by South Korean media startup SmartStudy, gained popularity through K-pop stars and has amassed 800 million views. The viral phenomenon, hashtagged #BabySharkChallenge, has significantly boosted SmartStudy's international revenue. The company plans to leverage this success by producing more localized content and collaborating with popular creators globally.

Dayli Financial Group is spearheading a large-scale blockchain project in South Korea called ICON, aiming to connect various sectors such as government, universities, hospitals, and banks without third-party networks. Despite challenges like unfamiliarity with open-source software and language barriers, ICON has gained significant institutional backing and is set to launch its first project in September. The initiative aims to streamline processes and enhance data integrity across different industries, with the potential to expand globally. ICON's strategy is compared to New York-based Tendermint, highlighting its ambitious mission to become a major player in the blockchain space.

South Koreans are heavily investing in cryptocurrencies, particularly Ethereum, driven by limited local investment options and a high-risk appetite. The market is characterized by significant volatility and high trade volumes, often influenced by media hype and local fintech developments. Despite the enthusiasm, experts warn of potential risks and regulatory challenges. The involvement of major companies like Samsung SDS and the push for more investment-friendly regulations under President Moon Jae-in's administration are expected to shape the future of the market.

South Korea's first autonomous car, SNUver, developed by Seoul National University, has begun testing on urban roads in Seoul. The car, aimed at Level 4 autonomy, has been upgraded to better navigate the aggressive driving conditions of the city. The project, led by Professor Seo Seung-woo, has seen significant progress despite initial skepticism in Korea. The team plans to continue testing and improving the technology, with future applications in mass transit and on-demand delivery. Hyundai Motor and Naver are also involved in autonomous vehicle testing, with the Korean government supporting the development of this technology.

South Korea's browser market is ripe for competition as Naver, the country's largest internet company, introduces Whale, a new browser designed to compete with Google Chrome and Internet Explorer. Despite its innovative features like omnitasking and in-browser translation, Whale faces an uphill battle due to Chrome's dominance and the entrenched use of ActiveX-dependent websites. While Whale offers a modern browsing experience and integrates Naver's suite of products, its success outside South Korea remains uncertain without significant marketing and incentives.

South Korea's government initiated a 'creative economy drive' in 2012 to foster a startup scene, leveraging its high internet speeds and smartphone penetration, and corporations like Samsung and Hyundai. Despite these advantages, foreign entrepreneurs face language and cultural barriers, and the tech industry lacks diversity. The government has introduced programs like the K-Startup Grand Challenge to attract foreign startups, offering incentives such as free flights and office space. While some entrepreneurs find value in these programs, others criticize the bureaucratic processes and stringent labor laws. The article discusses the mixed reactions to these initiatives and the challenges of entering and scaling up in the Korean market. It also highlights the potential of Korea's IT infrastructure and trend-conscious society for testing new products and services.

South Koreans are preparing for a landmark election to replace the impeached president Park Geun-hye. Entrepreneur Rebekah Kang and her team, known for their activism through ParkGeunHack, have developed NudePresident, an online quiz to help voters make informed decisions based on candidates' policies. The tool has gained significant traction among millennials, reflecting a growing political engagement. Despite challenges in product stickiness and monetization, Kang aims to continue using technology to promote democratic values and keep elected officials accountable.

The Dot smartwatch, a braille timepiece for the blind, will be available next month after nearly three years of development. Unlike other assistive smartwatches, it displays messages in braille. Dot, the South Korean startup behind the watch, plans to ship 100,000 units in 2017 and has a $1 million agreement with Kenya’s government for its educational braille reader, Dot Mini. Future plans include the Dot Pad, a tactile ereader, in collaboration with Google. The company aims to make the world more inclusive with its smart braille system.

Azar, a mobile app by Korean company Hyperconnect, aims to revive the live chat experience of Chatroulette for a new generation. The app has achieved significant success with 100 million downloads in over 200 countries and 13 billion matches. It offers features like real-time voice translation and in-app purchases for filters. Despite its popularity, Azar faces challenges similar to Chatroulette, such as inappropriate content and age verification issues. Hyperconnect is working on solutions to improve user safety and verification.

Park Geun-hye's presidency, initially seen as a milestone for women in South Korea, is now viewed as exacerbating sexism and misogyny. Despite promises of gender equality, her administration has done little to promote women in government. The influence-peddling scandal involving her friend Choi Soon-sil has further damaged women's position in politics. Experts argue that entrenched gender inequality and the lack of female role models in politics continue to hinder progress. As the 2017 presidential election approaches, few women are seen as viable candidates.

The article discusses the approval of the crowdfunding act in Korea, which is expected to significantly aid start-ups by allowing equity-based crowdfunding. This method enables individuals to invest in start-ups through online brokerage sites. The Korea Institute of Science and Technology Evaluation and Planning anticipates a substantial growth in the Korean crowdfunding industry. Despite the optimism, there are concerns about investment restrictions and the effectiveness of Korean platforms compared to established ones like Indiegogo and Kickstarter. Zikto, a Seoul-based wearable device-maker, has successfully raised funds on Kickstarter and expresses skepticism about switching to a local platform. The article also touches on the global rise of equity crowdfunding and contrasts it with reward-based crowdfunding. It highlights the government's role in protecting investors and fostering a healthy crowdfunding ecosystem, while also noting the potential downsides of excessive government intervention. Industry experts emphasize the importance of crowdfunding for attracting venture capital and the challenges Korean start-ups face in a globally competitive market.

United Nations Secretary-General Ban Ki-moon has hinted at a possible presidential bid in South Korea, neither confirming nor denying his interest. Ban, who will return to South Korea after his UN term ends, has emerged as a favorite in several polls. He has met with President Park Geun-hye, leading to speculation about his potential candidacy for the Saenuri Party. The article discusses the political landscape, including the Saenuri Party's loss of favor and the potential for Ban to unify the country. However, there is controversy over whether a former UN secretary-general should run for national office.

The Codeybot, a coding toy from Shenzhen-based startup Makeblock, aims to teach children programming through interactive features like dancing, music, and laser beams. Launched on Kickstarter, it quickly approached its funding goal. The toy uses the mBlocky app, based on Google's Blockly, to help users understand coding principles. Makeblock's previous project, Gemini, was less successful, but Codeybot includes new features like battle mode. Benjamin Joffe from HAX emphasizes the importance of making technology approachable for kids. The article highlights the growing trend of educational tech toys.