OKX, a leading company in the Web3 technology sector, has formed a partnership with Forbes to enable OKX Wallet users to access the Legacy Pass, an exclusive NFT that brings together creators and innovators in the Web3 world.

Let’s see all the details below. 

The innovative partnership between OKX Wallet and Forbes opens new opportunities for NFT creators and innovators

As anticipated, OKX, one of the most cutting-edge aziende in the technology Web3 landscape, has recently announced a partnership with Forbes, the renowned media giant.

The collaboration aims to offer OKX Wallet users the opportunity to obtain the “Legacy Pass”, an exclusive NFT (Non-Fungible Token) reserved for members of a selected community. 

This step represents an important evolution in the use of NFTs, going beyond the concept of a simple digital collectible and transforming it into a gateway to tangible benefits and a high-level network.

The “Legacy Pass” is an NFT based on Ethereum that Forbes has created with the intent of bringing together under one banner the content creators, builders, and innovators of Web3.

With an offer limited to only 1,917 units, the pass aims to be much more than a symbol of prestige: it is a true tool that offers numerous benefits to those who manage to obtain it.

All the advantages of the Legacy Pass

Among the advantages associated with the Legacy Pass are exclusive access to high-profile events such as the prestigious Under30 Summit and the possibility to influence the Forbes Web3 list through voting rights. 

Still, a premium subscription to Forbes.com with advanced market analysis, and mentorship opportunities with members of the Forbes Inner Circle and other pass holders. 

Furthermore, the names of the holders of the Legacy Pass will be recognized within the renowned magazine Forbes, further consolidating their status within the Web3 community.

One of the most interesting features of this collaboration is the possibility, for OKX Wallet users, to have their application for the Legacy Pass reviewed on a priority basis.

OKX Wallet is indeed the only onchain wallet to offer this accelerated review option, reserved exclusively for those who submit their application through OKX Drops. 

The candidates who pass the selection can then proceed with the minting of their Legacy Pass by connecting their wallet to the dedicated page on Forbes.

This initiative represents a new frontier for the use of NFTs, which are evolving from simple collectibles into real tools with concrete utility in the real world. 

OKX, with this partnership, aims to redefine the way creators, builders, and innovators interact with digital assets, offering them opportunities for networking, mentoring, and personal and professional growth.

Some statements

The Chief Marketing Officer of OKX, Haider Rafique, commented on the matter as follows: 

“At OKX, we are redefining the way creators, builders, and innovators interact with digital assets. Through this partnership, we are demonstrating the diversity of NFT utilities, transforming them from simple collectibles into portals for real benefits. These advantages offer holders valuable connections, networking opportunities, and mentorship in their personal and professional experiences.”

Even Taha Ahmed, Chief Growth Officer of Forbes, expressed his enthusiasm for this collaboration:

“We are excited to collaborate with OKX to bring this unique opportunity to the Web3 community. This initiative not only demonstrates our commitment to promoting innovation, but also offers a platform for individuals to engage and contribute to the future of digital assets and blockchain technology.”

The partnership between OKX and Forbes is a striking example of how emerging technologies can be leveraged to create new forms of value and connection within the digital world. 

In an increasingly digital world, where online interactions are becoming a central component of our lives, initiatives like the Legacy Pass represent a window into the future. 

A future in which the boundaries between the physical and digital worlds become increasingly thin, and where participation in exclusive online communities can lead to unique opportunities in the real world.

Two months after releasing its meta-changing chapter 2 update, social RPG Pixels has announced its PIXEL token will be listed on crypto exchange OKX. 

In conjunction with the listing, the team has also launched a time-limited quest giving players a chance to get an OKX-themed hat and win one of five OKX-themed pixel pets.

More generally, Pixels has steadily picked up momentum in terms of daily active accounts following the 69% drop it experienced due to clearing out bot activity as part of its latest major update in June. Currently, it has 712,672 DAA, with total lifetime wallets on Ronin exceeding 6 million.

This accounts for 23% of the now almost 26 million total lifetime wallets on the Ronin network.

As of late, the game has also been successful in its aim to build self-sustaining ecosystem loops. Earlier in July it ran a profit-generating Guild Wars event. While 485,000 PIXEL were rewarded, 524,390 PIXEL were burned/locked, and 3.4 billion in-game tokens were burned. 

Moreover, a recent community event reached 70,000 concurrent real in-game players.

In terms of future plans, the team is continuing to rework the game’s rewards structure, which remains focused on reducing bot activity. It will change taskboard tasks and introduce taskboard segmentation, which will tailor PIXEL rewards based on player behaviour as a measure to tackle bots. Additionally, it’s looking to introduce a wallet data reader that can analyze metrics like player history across multiple games and asset ownership to make it harder for bots to operate.

Following the announcement of investment from US VC Makers Fund, Singapore-based developer Matr1X has announced MAX, the second token for its blockchain gaming ecosystem including shooter Matr1x Fire, will launch on exchanges such as OKX on 5th August.

The ecosystem’s original FIRE token has been live since February – currently down 37% since launch – but those interested in the MAX token can now build an allocation via OKX’s jumpstart mining program.

Claiming a fully diluted valuation of $1.5 billion prior to listing, Matr1x says the MAX token capsulates functionality including governance, staking, launchpool access as well as utility in terms of upgrading game items and being used for gas on the Matr1x blockchain.

50 million MAX tokens are also being airdropped via the Matr1x Apollo program.

Matr1x Fire is the company’s first game, and battle royale game Matr1x Battle is also in development. Other titles include 5vs5 MOBA Evermoon and Cthulhu-style ARPG card game Castile, which are from thirdparty devs. Other ecosystem partners include Hong Kong-based esports tournament operator Geda.

“Today’s listing announcement of $MAX marks a transformative milestone for Matr1x and our community,” commented a co-founder of the non-doxxed team known only as Madeira.

“With $MAX, we are furthering our mission to deliver pioneering community-led gaming platform experiences to a global audience. Our unique tokenomics highlight our commitment to redefine the gaming industry by championing decentralisation, creator-centricity, and sustainable growth. $MAX embodies our vision to lead the web3 gaming sector, expanding our ecosystem with high-quality games and fostering contributions from creators. This is also the only path to bring mass adoption to the web3 industry.”

Find out more at the Matr1x website.

A growing domain of developers are eyeing Telegram as the new opportunity to scale their games.

South Korean studio Delabs is the latest to launch a mini-game within the platform — its baseball-themed Giga Chad Bat; “Hit ball, get BALL”.

While the team’s flagship title Rumble Racing Star has quickly grown to become the top game on Arbitrum since migrating from Polygon earlier in 2024, Giga Chad Bat marks a new strategic direction.

“Launching Giga Chad Bat on Telegram is a big swing for Delabs, expanding our reach and creating a more accessible gaming experience, especially for players that may be novices to web3 gaming,” commented Delabs Games CEO Joonmo Kwon. 

Another move comes from centralised crypto exchange OKX. Its Telegram-game OKX Racer gets players to guess the price of Bitcoin within a set timeframe. The team especially highlights the platform’s seamless game integration and opportunity to reach a wider crypto community.

OKX chief innovation officer Jason Lau said: “Telegram’s mini-app platform is quickly becoming a can’t-miss venue for those who are looking to engage the crypto community. At OKX, we want to embrace easy-to-use, interoperable and accessible platforms that cultivate communities, incentivize participation and encourage fun.”

In terms of Telegram itself, the company is undergoing significant updates to enhance its gaming integrations. Founder and CEO Pavel Durov recently unveiled on his Telegram channel that the company plans to launch a mini-app store for Telegram/TON games, as well as an in-app browser with web3 support.

Around 400 million of Telegram’s 900 million users are claimed to use the platform’s mini-apps. According to Durov, and other prominent names in the industry, this makes the platform a great opportunity to introduce web3 to “hundreds of millions of people”. 

One particular focus of tap games on Telegram is their generous reward systems, allowing players to earn points or tokens just through clicking.

Tap game Hamster Kombat has quickly risen to fame, as has Catizen and most recently Pixelverse’s PixelTap. While only a handful of games have launched a token, Pixelverse’s PIXFI token went live on Friday 19th July, and surged 304% within the first 48 hours. It has since dropped but remains up over 100% from launch.

In related news, Animoca Brands has announced a strategic partnership between the MOCA Foundation and the TON Foundation as part of a $20 million strategic growth deal.

Crypto exchange OKX selected Malta as its Market in Crypto-Assets (MiCA) hub to serve 450 million EU residents, according to a July 18 statement.

The exchange highlighted explained that this strategic move will allow it to offer services in compliance with local regulations while ensuring easy deposit and withdrawal connectivity to local bank accounts.

Under the MiCA framework, OKX plans to offer spot trading, including EUR and USDC pairs, and comprehensive crypto services allowing its users to buy, sell, convert, and stake popular digital assets.

Why Malta?

OKX explained that it chose Malta as its MiCA hub for various reasons, including its high regulatory standards.

According to the firm, the country is well-known for its comprehensive regulatory framework for blockchain technology. This makes it an ideal base for expanding its products into the European market, OKX said.

Furthermore, OKX stated that another significant factor influencing its choice was the robust infrastructure and local team it has developed in the country since 2018. It added:

“Our local entity, Okcoin Europe Ltd, has been licensed as a Class 4 Virtual Financial Assets (VFA) Service Provider by the Malta Financial Services Authority (MFSA) since 2021. This establishes a strong regulatory foundation for us to offer secure and compliant services across the EU.”

MiCA effect

The MiCA regulation is already significantly affecting crypto operations in Europe.

MiCA is a regulatory framework created by the European Union to standardize crypto regulations across member states. The European Parliament approved MiCA last year, and the rules are being implemented in phases.

The first phase of MiCA, targeting stablecoins, took effect on June 30. The second phase will follow in six months.

On July 1, Circle, the issuer of USDC, became the first global stablecoin firm to comply with MiCA. Additionally, the Cardano blockchain released its sustainability indicators to ensure compliance with the European MiCA regulations.

Mentioned in this article

Crypto exchange OKX has informed Nigerian clients that they have until Aug. 16 to close their positions, as it is ceasing operations in the African country due to local regulations.

In a July 17 email statement obtained by CryptoSlate, OKX informed users they would no longer be able to open new positions or access any services on the platform, except for withdrawals and closing existing positions.

OKX assured users that their funds remain secure and accessible. However, they must withdraw these funds by Aug. 30, 2024. After this deadline, users will have to contact customer service for account-related actions.

The announcement has caused concern among Nigerian crypto users, who have voiced their frustrations on social media platform X. OKXHelpDesk responded by stating the platform cannot provide know-your-customer (KYC) services for Nigerian users.

It stated:

“Hi there, we are currently unable to offer KYC verification services for Nigeria. Any updates regarding licensing will be shared on our official channels. Please stay connected with us for any future announcements on this matter, thank you!”

The decision follows OKX’s removal of peer-to-peer services for Nigerian users and the removal of the local fiat currency, the Nigerian naira (NGN), from its platform in May.

OKX has yet to respond to CryptoSlate’s request for additional commentary as of press time.

Crypto exchanges challenges in Nigeria

OKX’s decision follows the recent crackdown on crypto platforms in Nigeria.

Earlier this month, KuCoin notified its Nigerian users of a 7.5% value-added tax (VAT) on all transactions. KuCoin cited a regulatory update in Nigeria as the reason for this change.

Furthermore, Binance faces legal action from Nigerian authorities for money laundering and tax evasion. One of the exchange executives, Tigran Gambaryan, is currently detained at the Kuje Correctional Centre in Abuja despite his worsening health conditions and increased international calls for his release.

Meanwhile, the Nigerian authorities maintain that these actions are part of a broader effort to ensure compliance in the emerging industry.

Mentioned in this article

OKX enters the crypto gaming Web3, announcing the launch of “OKX GameSphere”. The new platform provides developers with a full range of innovative solutions to engage players. 

OKX and Web3 crypto gaming: the launch of the platform for GameSphere developers 

OKX has launched the new Web3 crypto gaming platform OKX GameSphere, dedicated to game developers.

In practice, it is an innovative platform that provides developers with a complete range of Wallet as a Service (WaaS) solutions, APIs, and game promotion.

The objective is to enable them to reach the launch of their Web3 games on the market more quickly, supporting them and creating an engaging experience for the players. 

Among other things, OKX GameSphere aims to provide developers with all the tools to bring their creative ideas to life, as well as offering support in the development process of their Web3 games and their distribution. 

Not only that, through the use of the API of the crypto gaming market, the exchange of tokens and the trade of NFTs will also be facilitated. In this regard, with OKX GameSphere, developers will also be supported in the issuance of new NFTs and all associated services such as NFT drops or flash sales or minting. 

The new crypto gaming platform then offers the possibility to integrate OKX Wallet within the project-game ecosystem for the creation, backup, and login of cryptocurrency wallets seamlessly.

And finally, not least in importance, there will also be the possibility for the project teams to establish their own royalties for NFT transactions.

OKX and the crypto gaming Web3 sector: GameSphere to enhance the gaming experience

This new entry of OKX into the world of crypto gaming Web3 with GameSphere also aims to provide an innovative platform capable of enhancing the gaming experience. 

In fact, OKX GameSphere provides exclusive game pages with game resources, links to social media, and other game-related information. Not only that, developers can also be supported in marketing through personalized promotions based on the specific needs of the collaborators. 

OKX GameSphere has already started to make waves in the Web3 gaming space, collaborating with leading projects such as Lumiterra, a multiplayer and open-world survival crafting game, and Metacene, a blockchain MMORPG.

The entry into the metaverse sector

While today we celebrate OKX’s dive into the world of crypto-gaming Web3, last February the company celebrated its entry into the metaverse. 

In fact, OKX Wallet along with Crypto.com DeFi Wallet and Halo Wallet, have become partners of Mocaverse. 

In this way, OKX Wallet users can request their unique Moca ID in-app, allowing them to enter the metaverse, where they can access various cultural and entertainment experiences. 

Two prominent global exchanges’ subsidiaries — Gate.io and OKX — have withdrawn their applications for an operational license in Hong Kong in the last two days.

This decision reflects a broader trend, as eight firms—including exchanges backed by Binance and HTX—have also abandoned their licensing efforts in the city-state, according to a notice on the Securities and Futures Commission (SFC) website.

Meanwhile, the regulator is still reviewing applications from several other crypto exchanges, including Crypto.com, Bullish, and Matrixport. Notably, the SFC has approved licenses for only two exchanges in the region, OSL and HashKey.

OKX bows out

In a May 24 notice, Hong Kong-based crypto exchange OKX HK announced the withdrawal of its application for a Virtual Asset Service Provider (VASP) license in the region. The exchange stated:

“OKX will cease to provide centralized virtual asset trading services to Hong Kong residents by 31 May 2024 (Friday) in accordance with regulatory requirements. Customer funds remain safe and withdrawal services will not be affected. After 31 May 2024, customers will only be able to withdraw.”

Consequently, OKX advised its customers to refrain from making deposits after May 31, as these deposits may not be processed automatically. The exchange also set an Aug. 31 deadline for users to withdraw their assets from its platform.

Gate.HK application withdrawal

Similarly, Gate.io’s Hong Kong unit announced on May 23 that it had withdrawn its application for a virtual asset trading platform license.

The firm explained that the decision was part of a comprehensive platform overhaul strategy that would halt the registration of new users, deposits, and marketing activities in Hong Kong. Additionally, the platform intends to delist all major tokens, including Bitcoin, Polkadot, Ethereum, and others.

The platform said it will cease all trading services by May 28 and advised users to withdraw their assets before Aug. 28.

Launched in 2023, Gate.HK submitted its license application to the SFC in February in compliance with new regulations mandating that exchanges serving Hong Kong customers must obtain an operational license in the region.

Mentioned in this article

OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet become partners of the Mocaverse metaverse, with users being able to request their unique Moca IDs in-app. 

OKX, Crypto.com and Halo are new partners of the Mocaverse metaverse

OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet have become the new strategic partners of the Mocaverse metaverse, with the goal of expanding the Moca ID ecosystem.