According to a report from Research And Market, the gaming sector reached a value of $167.9 billion in 2020. In the first half of 2021, blockchain game companies raised $476 million from investors. The global market for AR/VR will grow to $1.5 trillion by 2030, from $47 billion in 2019. It can be seen that GameFi is one of the fields with great potential and fastest growth rate in the cryptocurrency industry.

Meanwhile, in Southeast Asia, the Philippines and Vietnam are two of the most potential markets for having a large community of GameFi players and developers. Some of the most popular GameFi games have been created by a team of Vietnamese developers, bringing in incomes ranging from a few hundred to a few thousand dollars for players in developed countries as they have to cope with their income situation sharply decreased due to the Covid-19 epidemic.

Realizing the potential and rapid development of this market, as well as the need to develop its ecosystem in the future, Bholdus cooperates with the Singapore Blockchain Association Co-Chairman - Mr. Chia Hock Lai, to develop an incubator for GameFi and Metaverse projects. This strategic agreement comes into effect from November 25, 2021.

As a multi-chain platform dedicated to decentralized financial (DeFi) applications and non-fungible tokens (NFTs), Bholdus carries the mission to connect the crypto space with qualified real-world assets. With the Bholdus blockchain, users can trade and tokenize their assets into NFTs and tokens with minimal costs and unparalleled transaction throughput. According to the partnership agreement, Bholdus will provide the blockchain platform as well as related technical tools for the development of the incubator Metaxus Labs, as well as the GameFi and Metaverse projects within the incubator's size.

Mr. Chia Hock Lai currently holds the position of Co-Chairman of Singapore Blockchain Association and CEO of ASIA DLT. He is also serving as the CEO of Switchnovate and Senior Blockchain Advisor of Tembusu Partners. Mr. Chia has over 20 years of experience in the finance and technology industries, with extensive experience working in organizations such as the Government Technology Agency of Singapore (GovTech) and NTUC Income. With his active contribution as a prominent leader in the FinTech and Blockchain communities, in 2018, Mr. Chia was listed in the LinkedIn's Power Profiles in the Finance sector.

With Bholdus' technology background and Mr. Chia Hock Lai's experience and network of connections, an incubator created for GameFi and Metaverse projects will have solid bases for growth. The establishment of this strategic relationship is also the first step for Bholdus to gradually realize its goals and mission in the blockchain industry.

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