Technology has changed the way people learn. From the creation of massive open online courses (MOOCs) such as the Khan Academy to virtual classrooms and on-demand video tutors, education technology or ‘edutech’ has emerged as a rapidly growing sector, attracting significant investor interest.

Edutech refers to the utilisation of technology in developing tools in the education sector. For example, it could be in the form of classroom management software, interactive apps to educate users on various topics and platforms, or connecting tutors and students virtually.

The global edutech market was estimated at US$ 89.5 billion in 2020 with an expected CAGR of 19.9 per cent until 2028.

Edutech adoption in Southeast Asia has lagged in comparison to regions such as North America, Europe, and Australia due to the long-held belief that education must be conducted in the classroom for a qualification to be credible. This was further compounded by inconsistent access to internet connectivity. This changed after the pandemic.

The adoption of technology in education

Many school-going children and university students in Southeast Asian countries were affected at the height of the pandemic. When infections were rampant and vaccine rollout was just beginning, schools were forced to close and adapt to the new normal of online learning.

The difficulty to adopt online learning in schools is apparent and shows the lack of technology adoption among students and schools today. This, coupled with a lack of customized learning and a reliance on expensive private tutoring poses a systemic risk to the current system.

In Malaysia, where national examinations are the gateway to placing into tertiary education of choice, over 40,000 SPM (Malaysia Certificate of Education) candidates had to postpone their academic advancements as the exams were repeatedly rescheduled owing to multiple nationwide movement restrictions.

Also Read: ‘Edutech will be a hot commodity going forward’: GREDU co-founder Rizky Anies

The state of the Malaysian education system already had its fair share of challenges prior to the pandemic, COVID-19 just exacerbated the situation further.

The Department of Statistics found that the number of primary and secondary school students in Kuala Lumpur and Selangor increased by 1 per cent, while the number of teachers reduced by 1.3 per cent in 2019.

Over in Indonesia, national exams were cancelled entirely as a result of the pandemic and accelerated learning loss in the country. Indonesia already has one of the highest numbers of out-of-school children in the region according to UNICEF. Other ASEAN countries such as Thailand and the Philippines also faced the same issue.

The inherent issues in education systems in Southeast Asia, combined with a high internet penetration rate and a growing number of smartphone users, has catalyzed the rise of edutech in the region.

For instance, Indonesia’s learning management system Ruangguru boasts a user base of over 10 million individuals and has a valuation of US$830 million in its recent funding round.

US based accelerator programme Y-Combinator has spurred startups in the region which includes Avion School in the Philippines and Malaysia based Pandai. Avion provides remote learning for aspiring students that aim to become software engineers, while Pandai is a customised learning platform.

Funding in the region has seen healthy growth with US$200 million invested in 1H 2021, according to a report by Temasek, Bain, and Google.

Rise of edutech in Malaysia

Closer to home, we saw many edutech startups emerge in the country.

Anak2U is a kindergarten classroom management software that aims to help teachers with lengthy class preparation times, tedious administrative tasks, and a lack of teaching materials.

Social media app Quadby takes a different approach by fostering student communities and conversations. Its concept is a lot like the Clubhouse app where there are virtual rooms for intellectual discussion.

Meanwhile, Pandai focuses on the K-12 segment. It allows students to interact through its student communities, compete with others via gamified quizzes and seek to improve students’ academic performance using its extensive question bank.

All, in accordance with the Curriculum and Assessment Standard Document (DKSP) issued by Malaysia’s Ministry of Education (MOE).

Also Read: How edutech is solving the global teacher’s crisis

Students can benefit and learn from their mistakes by employing a range of learning tools with Pandai’s solution bank and report card feature, which is accessible exclusively on its premium subscription. Compared to other services, the startup’s offerings are more holistic.

It found that 73 per cent of parents in Malaysia felt that learning materials provided by schools were insufficient. Parents were spending more than US$900 per year on additional classes, supplementary workbooks, and 1-on-1 tutoring. Materials were often found to cater to the masses and not tailored to the requirements of students.

With issues circulating Malaysia’s education system, edutech stands to provide massive opportunities to startups that seek to provide solutions for this pertinent sector.

That said, the Malaysian government is taking steps towards building a tech-enabled education system. As outlined in the Malaysian Education Blueprint 2013-2025, the government is actively aiming to leverage ICT to scale up quality learning across Malaysia as ICT usage in schools continue to lag expectations.

Further to that, the Malaysian MOE promised to distribute 150,000 laptops during the pandemic to allow less fortunate students to practice online learning.

Edutech, not only provides students with the opportunity to empower their own learning paths but further enhances our education system by bridging the technology gaps that exist.

With support from the government and the success of our local startups, Malaysians stand to benefit from the plethora of education choices available online. Possibly, we could see the next Malaysian unicorn to be in the edutech space.

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PropertyGuru to list on NYSE on March 18
It has merged with Bridgetown 2; The proptech firm announced its intention to list in the US last year; At the time, the agreement gave PropertyGuru an enterprise value of over US$1.3B and an equity value of about US$1.8B.

Philippine startups raise more than US$1B in 2021: Report
It is a steep rise from US$369M raised in 2020, says a Foxmont Capital report; Fintech and media and entertainment registered the largest funding growth last year; Within the first two months of 2022, funds raised by local startups reached US$310M.

Ripple’s US$250M fund invests in first batch of NFT projects
Since launching in September 2021, Ripple’s Creator Fund has attracted nearly 4K applications; Notable creators that have received support from the fund include author, producer, and entrepreneur Justin Bua; filmmaker Steven Sebring; and xPunks.

Sea Group CEO makes efforts to be transparent after stock plunge
Forrest Li has sent an email to all employees in order to erase their fear of the company’s stock price plunge and defend its decision to continue spending on growth; According to some sources, fund managers have urged Sea to be more open about its strategy and numbers.

Edutech firm Cialfo raises US$20M more to extend its Series B round to US$60M
Investors are Tiger Global, Square Peg, and SEEK Investments; The Cialfo platform connects over 250K high school students, their counsellors, and families with over 1,000 colleges in 50 countries.

‘Climate tech: SEA needs more time to improve startup quality, attract capital’, says Earth Venture Capital’s Tien Nguyen
Lack of climate change education, governmental support and entrepreneurial culture contribute to the shortage of climate tech firms in SEA; Earth VC invests in early-stage tech firms serving the goals of switching to renewable energy, abandoning fuel and diesel and planting more trees.

Rukita acquires GDP Venture-owned boarding houses search platform Infokost.id
In December 2020, GDP Venture announced the closure of Infokost’s operations; Rukita then took it over and revitalised the business; Currently, Infokost.id offers 1M rooms on its platform and serves 50K property owners.

Singapore to tax NFT transactions
The government earlier warned its citizens regarding NFTs and the metaverse as the government tries to understand the nascent scene; Recently, the country’s so-called “Crypto King” came under fire for promoting P2E games whose native tokens eventually tanked.

East Ventures joins pre-seed round of Indonesian agritech firm Aria
Other investors are GK-Plug and Play Indonesia, Triputra Group, Waresix, and Sahabat Group; Aria uses drones and IoT devices to increase the efficiency and productivity of farmers and large-scale plantations.

Traveloka joins the burgeoning e-grocery market in Indonesia
Called Mart, the new service offers frozen food, fresh produce, and personal care items, among others; The company has partnered with several grocery stores and supermarkets in Greater Jakarta for its latest offering.

Why the Carbon tax is just a step forward and not a solution
While a carbon tax might encourage companies to make greener choices, adopting new technologies or swapping fuels, simply reducing emissions without offsetting them is unlikely to do enough to salvage the carbon budget.

How are NFTs contributing to creating a social impact?
Creators combine lessons and concepts learnt from previous PFP (profile picture ) projects like gamification, community involvement, and merchandise giveaways and apply them to sustainable development goal problems.

Ex-StanChart exec’s startup Touché banks funding from UAE financial firm
Focused on F&B and hospitality sectors, Touché allows businesses to serve their clients through a single-point device; Its solution runs on a fully integrated mobile-based smart payment terminal; The features include taking orders, tip management, and e-receipts.

Animoca backs Cardano-based crypto exchange WingRiders in seed round
Other investors include Bitrue, Double Peak Capital, Spark Digital Capital, and Matrixport; WingRiders is an automated market maker DEX that aims to be an infrastructure element in the Cardano ecosystem, providing easy integration into any wallet or decentralised app.

Google Ads’ Singapore rival ReverseAds bags US$600K from Choco Up
ReverseAds is a keyword-advertising platform; It identifies keywords based on users’ past searches, clicks, and purchases, and uses this data to help companies provide more relevant ads.

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#BreakTheBias is the theme for International Women’s Day 2022. The rallying cry of the hashtag is accompanied by a clear message and a pose for solidarity that would light social media feeds on fire.

Knowing that bias exists is a great start to deal with the issue. I’m glad to see conscious efforts taken to improve the situation. Here are some of the challenges we face and the progress we’ve made.

Implicit bias – unconscious, multi-faceted, and multi-cultural

Implicit bias occurs unconsciously and helps people navigate their world. But it also proves to be one of the biggest hurdles. It is an amalgamation of the associations and generalisations influenced by the cultures we are exposed to and our environment.

As a Muslim lady with mixed ethnic roots from India, the Middle East, and South-East Asia, I can attest that we will see greater diversity in the world marching hand-in-hand with globalisation. This puts into perspective the complexity of the challenges we must overcome.

I have seen the subtle and often unintentional decisions resulting from implicit bias that affect career options and trajectories in the workplace and ill-fitting expectations at home and in communities for women.

No one can be expected to be impartial. Being self-aware, taking a step back, and questioning what we would typically assume could open up impactful conversations.

COVID-19, the gender pay gap, and transparency

One of the obvious pain points that need to be addressed is the gender pay gap. A Pew Research Center report states that the pay gap between genders has maintained itself over the last 15 years.

Also Read: Top 10 community articles by women writers from the tech sphere

As the world finds its footing in a COVID-19 world, the pandemic has exacerbated the pay gap. A report stated the pre-pandemic rate of an average female US employee was 81 cents for every dollar the average male employee made.

The pandemic has widened the gap to 76 cents for every dollar, and economists predict it could take more than ten years to get back to pre-pandemic numbers.

Both organisations and women need to take responsibility to address this issue.

Organisations need to adopt pay transparency. A survey cited that 58 per cent of employees would consider switching to a company with pay transparency, and companies that adopt such a practice could close the gap and level the playing field.

Women can bridge the pay gap with the ask gap. In general, women ask for 6 per cent less for their salaries, and their ideal starting salary averaged 92 per cent from their male counterparts. With the ask gap, women tended not to ask for promotions till they felt adequate.

A Hewlett Packard internal report found that men apply for a job or promotion when they meet 60 per cent of the qualifications, compared to women who tended to attempt only when they met 100 per cent of them.

This plateaus their experience and contributions. Inter-organisation mentoring and coaching can help with these issues.

For my fellow ladies, do your homework, research the company and role you are seeking, and work on your negotiation skills.

Breadwinners and bread makers in the modern world

There has been a silver lining through the pandemic in how it accelerated specific movements. Hybrid working models were a catalyst that challenged the antiquated notion of men as breadwinners and women as bread makers.

Gender equity starts in the home was an article aptly named and published by HBR and explores how working from home helped even the workload for household chores and taking care of the children between men and women.

This development improved the job satisfaction and productivity of women. It would eliminate stigmas of work-life balance and gender roles in taking care of a family as it becomes a norm.

Progressive steps need to come from organisations and their people

The hiring push for chief diversity and inclusion officers has jumped from 84 per cent in 2020 to 111 per cent in 2021. This shows the commitment that organisations have to make positive change a priority.

For some organisations that are on board with this change, some adjustments can be taken too far. I’ve personally seen a discrepancy in the tasks assigned to female team members compared to their male colleagues with a similar role.

Also Read: Women aren’t looking for a place in the digital industry. They’ve always been there

Teams that do this deny their women a chance to grow and, if left unchecked, squander their human capital and would inadvertently perpetuate the cycle of inequality in the workplace.

Businesses serious about making a positive change should work together with organisations with the tools and expertise to ensure that integration for diversity and inclusion in the workplace is smooth.

Groups like AnitaB.org have been doing a fantastic job. Lean In has programs, initiatives, and support groups, while global movements such as HeForShe have gained massive traction and support for their work.

In an early-stage startup context, managing bias is both an easy and challenging piece. It comes from the value of the founders. While pay gaps and implicit bias is something that can be taken care of easily.

Creating a diverse environment and creating policies is not something one would focus on. However, as founders, it’s in the best interest to make a value system in an organisation that can fuel growth.

Role models and the way forward

We have seen women as titans of industry who have helped pave the way and open our eyes to the possibilities.

Women such as Indra Nooyi, the former CEO of PepsiCo, have spoken about the deep talent pool that women represent if organisations nurture and invest in them. Or Falguni Nayar, who founded Nykaa just before turning 50. The e-commerce company became the first Indian unicorn startup headed by a woman in 2020.

There is still much work to be done, breaking the bias in investments is one such topic. Women-led founders received just 2.3 per cent of VC funding. There is a push today to have more Women as VCs.

Breaking the bias is the theme for International Women’s Day 2022 and a spark borne through awareness and sensitivity.

By HeForShe’s estimates, we are taking the first steps on a 257-year journey towards gender equality in the workplace, and it will take continued action and vigilance to get there truly.

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Decentralised finance (DeFi) can disrupt many existing concepts or introduce entirely new use cases. The field of fixed-income securities is exciting due to the opportunities it provides. DeFi can fuel growth in this segment due to its traceability and issuance benefits.

Understanding fixed-income securities

Many financial and investment vehicles exist in the world of finance today. As a result, fixed-income securities have started to gain more traction.

Unlike other investment options, every fixed-income security is a debt instrument issued by corporations, governments, or other entities. This instrument allows the issuer to finance and expand its operations, resulting in potential future growth. 

Moreover, the fixed-income security is beneficial to investors, as they receive periodic payments and eventual returns of their principal investment. It is essential to understand that investing in these instruments is akin to investors extending a loan to the issuer.

Like a loan, the money needs to be repaid, and there are “interest payments” while this process remains ongoing. 

Investors are drawn to these vehicles because they help diversify a portfolio. In addition, many people consider fixed-income securities as low-risk and secure ways to generate a steady flow of income.

All one needs to do is hold them to maturity to acquire a guaranteed return on investment with a transparent payment structure. 

Several forms of fixed-income securities exist today:

• Bonds
• Savings bonds
• Guaranteed investment certificates
• Treasury bills
• Banker’s acceptances
• Mortgage-backed securities
• Strip coupons
• A laddered portfolio

Also Read: Staying ahead of the game: How DeFi traders are using price discovery to outsmart bots

Despite various investment options, these securities are not always accessible to everyone. Decentralised finance protocols can shake up that model for the better, as the underpinning technology can extend such products to anyone in the world.

Decentralisation through DeFi

Making these low-risk instruments more accessible may require the use of a different technology stack and mindset. As anyone can issue a fixed-income security investment opportunity, the market can unlock tremendous potential liquidity with the help of blockchain and smart contracts.

Unlike legacy finance systems, the blockchain isn’t controlled by one group or person and provides equal access. As such, any fixed-income security on the blockchain can find a global audience of investors, bootstrapping liquidity for organisations, corporations, and other issuers. 

DeFi protocols such as DeBond introduce multiple options to make investing in these instruments more straightforward. Users can choose between a floating rate bond and a fixed-rate bond. Each option has potential benefits but introduces a different level of risk depending on the investor’s appetite.

Making both solutions accessible gives users worldwide more options than they would have at their disposal. Additionally, the blockchain provides traceability and accountability, offering much-needed transparency. 

The floating rate bond by DeBond provides users with a higher interest rate through a subprime bond with no fixed maturity date and a potential loss of principal and, as such, introduces a higher risk factor.

However, high risk/high reward can prove appealing to many people. Users with less risk appetite can opt for the fixed-rate bond with a lower interest rate prime bond through a fixed maturity date and predetermined interest rates while offering better principal protection.

The tokenisation of bonds and other fixed-income securities investment options introduces a new financial paradigm in the future.

Also Read: Demystifying NFTs and DeFi

On the one hand, the blockchain has many benefits, including transparency and broader accountability. On the other hand, it paves the way for more overall liquidity for those issuing such vehicles, as they can tap into a global market without relying on intermediaries. 

Bringing accessibility to alternative investment tools

Democratising access to fixed-income security investments enhances the appeal of decentralised finance. In addition, an alternative financial ecosystem can be created through blockchain technology and smart contracts to increase global financial inclusion and provide unprecedented accountability. 

Finally, exploring the many opportunities in this space can provide a competitive edge to whoever comes to market first with a safe, secure, and accessible investment vehicle.

Demand for exposure to fixed-income security investments is rising, and DeFi may be a crucial catalyst in triggering the next market boom. 

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January marked Bitcoin’s 13th birthday, the world’s most well-known cryptocurrency, which kickstarted the decentralised revolution now underway across the globe. 

As Bitcoin enters adolescence, so too is the emerging technology of blockchain. Since the latter was separated from cryptocurrency in 2014, its potential has only continued to grow.

Both crypto and blockchain have begun to enter the mainstream, from El Salvador making Bitcoin legal tender alongside the US dollar in September last year to non-fungible tokens (NFTs) gripping the world’s attention all through 2021. 

Just what has spurred crypto’s mainstream recognition, and with blockchain having cemented its place in our digital future, what can we expect to see as we take stock of how far it has come in 13 years?

Far from cheugy

With the use of its abbreviation rising by more than 11,000 per cent in 2021, “NFT” was named the Collins dictionary’s 2021 word of the year, edging out competition from the likes of “crypto” to Generation Z-coined term “cheugy”. This speaks to the meteoric rise in awareness of two of blockchain’s most prevalent use cases. 

You wouldn’t need to look any further than pop culture and the creative industries to see that NFTs indeed capture the zeitgeist of today.

From avatar-style NFT profile photos like Bored Ape Yacht Club taking over Twitter to the social media giant rolling out a feature to verify users’ ownership of their NFT profile photos, it’s evident that NFTs are here to stay.

Even the art world, notorious for being opaque and elitist, is beginning to embrace the digital token. Today’s underlying blockchain technology represents greater transparency and a levelled playing field for exposure and monetisation. 

Also Read: Why Bitcoin is set to boom in a post-COVID-19 era

On our shores just last month, Singapore Art Week welcomed its first NFT art exhibition hosted by TZ APAC, which featured over 15 prominent digital artists from the continent.

Elsewhere in the region, the NFT scene is quickly gaining momentum. Artists are rising to prominence, from Art Moments Jakarta hosting the nation’s first NFT art competition to Art Fair Philippines launching educational initiatives for art creators and collectors.

The sheer potential of Asia’s emerging markets, coupled with their immense appetite for technology, are clear reasons for that. 

Ramping up on sustainability

Nevertheless, concerns around the effects of blockchain on the environment have been mounting. This has largely been shaped by legacy networks such as Bitcoin and Ethereum that continue to use Proof-of-Work (PoW) as their preferred consensus method.

Here, miners on the network need to expend computational energy to solve complex mathematical problems to validate transactions. This process consumes an enormous amount of energy; it’s even been estimated that a whopping 300 million new trees would have to be planted to offset Bitcoin’s carbon footprint. 

The solution? Proof-of-Stake (PoS) is an energy-efficient alternative that involves validating transactions based on one’s ‘stake’ in the network. Owners essentially offer their coins as collateral and are then randomly selected by the network to mine the coins.

In other words, without miners everywhere having to compete to solve mathematical puzzles, the computational power the PoS consensus mechanism requires is drastically lower than that of PoW. 

Bitcoin consumes approximately 141.10 TWh annually; that’s enough to power Sweden for a year! In contrast, at 0.001 TWh, the energy consumption of PoS blockchain Tezos is equivalent to the footprint of a mere 17 people.

Also Read: Is Bitcoin the safest currency in times of rising global tensions?

Ethereum, recognising the pressing need for energy efficiency, is also beginning to transition to PoS. As the blockchain behind the second-most popular cryptocurrency after Bitcoin and many decentralised applications and NFTs are built, the industry leader’s upgrades point to the growing popularity of PoS within the blockchain space as it matures.

The Asian Age

With that said, the crypto space is ever-evolving, and looking at how its evolution has panned out in Asia as compared to the West, out of which conversations have tended to dominate in the mainstream thus far, would also shed light on the many directions of growth that crypto can take.

Boasting young, digitally-native populations and a burgeoning middle class, there is no wonder why countries from the region have topped Chainanalysis’ 2021 Global Crypto Adoption Index, with emerging markets like Vietnam, India and the Philippines making it to the list. 

Interestingly, crypto adoption in the region can be said to be largely driven by necessity and/or utility. During lockdown last year, people in the Philippines turned to play-to-earn NFT game Axie Infinity as a source of income, while many from emerging markets have turned to crypto to send and receive remittances across borders, according to the same Chainalysis study on crypto adoption.

Moreover, NFTs are used in highly localised contexts, from Kpop NFTs in South Korea to marketplaces explicitly built for the Bollywood film industry in India. There have been clear attempts to address the myriad cultural differences across the region.

For mainstream adoption to soar, creators and enterprises alike will certainly do well to localise crypto offerings in the notoriously fragmented market of Asia. 

The exponential growth that the crypto ecosystem is experiencing in Asia, along with the developments the industry has seen since Bitcoin’s emergence 13 years ago, are certainly cause for celebration as we enter a new year.

As we look ahead, we can expect to see boundless iterations of novel use cases and blockchain continuing to shape our world in a multitude of innovative ways. 

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Malaysia-based NFTapir recently announced that they are looking to onboard 100 local artists over the next few weeks into their NFT marketplace. The platform is especially looking for contemporary artists who might be hesitant to enter the digital realm –due to the perceived complexities of the NFT space– as their solutions offer a simplified process that tackles the issues that artists are facing.

“There is a renaissance in the art scene where artists who are ready to embrace digitisation and showcase their artworks online are earning more than they ever have,” NFTapir Co-Founder Zang Tan explains in a press statement.

“We are excited to empower local artists on their journey into the metaverse and our goal is to decomplex the NFT journey thus allowing both artists and collectors to trade art with minimal prerequisite knowledge of blockchain technology. This further creates new opportunities for artists to continue to display their art digitally regardless of movement restrictions that have kept artists and collectors from physically trading at galleries throughout the pandemic.”

NFTapir is developed on the Polygon Blockchain based on feedback gathered from the Malaysian artist community. These artists demand a marketplace that can help them navigate the volatility of selling artwork in the digital space while also providing a near-zero gas fee experience for both the artists and collectors.

NFTapir also stated that it is the first curated NFT marketplace in Malaysia that supports the PHYGITAL framework. This means that, regardless of the mediums that the artists use, every piece can be digitised and listed as NFT. In addition to that, collectors can also own the physical form of the artwork and have it delivered upon request.

With their gallery currently running on exhibition mode, NFTapir aims to enable its marketplace function in April once they hit the goal of onboarding 100 artists.

Also Read: Demystifying NFTs and DeFi

Behind the paintings

A self-funded platform, the NFTapir core team consists of Zang Tan, JS Tan and Hanzo Chin.

In an email interview with e27, Zang Tan explains how the platform began when the NFTapir team observed how the watercolour arts community in Malaysia was highly active while their market access to collectors was very limited. This is especially the case during the COVID-19 pandemic when the lockdown measure as implemented in the country pushed artists to take their works to platforms such as Facebook Groups to conduct digital sales. This effort is certainly not sustainable.

“By digitising their artworks, artists now have access to a 24/7 digital gallery to showcase their works. In addition to that, there is better business resiliency in case of any future lockdowns as traditional means of showcases would be affected. Other benefits of digitising their artworks also include Better Preservation of Value, Record of Ownership and Royalties function which are all enabled by the beauty of blockchain technology that is seen as a value add for artists,” he says.

But it was the US$69 million transactions of Beeple artwork in March last year that inspired them to build this platform.

” … as a collector of some renowned pieces by Khaw Sia, Tan Choo Ghee, Yeong Seak Ling, it got us to start thinking how physical artworks could also be a part of the NFT realm –as it was primarily catered towards Digital Arts at that time,” Zan Tan says. “Over the months we had engaged with the community, primarily speaking to artists and collectors of fine arts where the consistent problem statement we identified was ‘they were highly interested in NFTs’ but wasn’t sure how to get into it … with much intricacies for the end-users to learn this new knowledge depending on their digital maturity level.”

The team then introduced NFTapir after noticing this window of opportunity.

Also Read: NFTs provide new ways to handle IP management, empower content creators: Inmagine CEO Warren Leow

When asked about the specific issues that they want to solve, NFTapir stated that their main goal as a platform is to “decomplex” the NFT journey for its users. They detailed the challenges that the users are facing –and the solutions they offer– in the following image:

“By offering true-gas-free minting, we have reduced the clutter typically required by artists to mint their very first works. With NFTapir, there is no need to scout for a crypto exchange to purchase tokens which usually involves familiarising with another complex tool … where we only require artists … to set up a wallet address (using Metamask), apply for onboarding through a simple form. Artists that are successfully onboarded will have their accounts enabled for true-gas-free-minting where the Create button shall appear after they login,” Zang Tan elaborates.

Also Read: You’re not really diversifying your investments by buying altcoins

“True-gas-free-minting was coined as opposed to ‘lazy minting’ –a blockchain method commonly adopted by major marketplaces– whereby NFTapir will mint the NFT tokens on the artist’s behalf. It is sent to the artist for their safekeeping, empowering them with full ownership and authority which makes us truly different,” he continues.

Engaging the community

When it comes to onboarding artists on the platform, NFTapir views collaboration with the arts community as the core of what they are doing. It is committed to monitoring industry trends and is working with leading associations to conduct focused events to help onboard artists onto the ecosystem.

For the year, they will continue on focusing on onboarding more artists.

“Our focus for the year will be to onboard the artists in Malaysia, mainly targeting the watercolour, oil paintings and local crafts to digitise their artworks, giving them the digital NFT certificate. Allowing them to enjoy all the benefits … and to reach a wider audience by having an NFT attached to their artwork onto the blockchain,” Zang Tan closes. “Moving forward, we will be looking for potential partners and investors in helping us with the mission to expand regionally into other countries bringing the mission of digitising crafts globally.”

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I have switched jobs two times in the past year only to realise that no job will ever make me happy.

Each time I decided to move, it started with the feeling that something was missing from my job. I thought taking the new job would be the necessary stepping stone to fill the skillset I lacked.

And, subconsciously, I thought the feeling that something was missing would go away. But, like everything in life, nothing is ever perfect, and there’ll always be something missing one way or another.

There’s no such thing as the right job because human wants and desires are endless. So instead of looking for the right job, look for your superpower.

Redefine what the right job means

Instead of thinking of a job as a job, think of it as a career. Instead of finding a job that meets our consistently evolving wants and desires, let’s start with the end goal: what’s the ideal career for you?

A job is something you do for money; a career is a long-term endeavour you build towards and work upon every day.

A career is something that you aspire to do, and ultimately, it should be something that you can be the best in the world at. And, to be the best in the world at something, the ‘something’ needs to be aligned with your superpower.

Define your career from your superpower

So to identify your ideal career, you first need to identify your superpower. Someone who’s a natural hustler, has an appetite for people and is an unconventional thinker would make a great early-stage VC. Someone who has vision and business ideas, the ability to inspire and influence people, and methodical ways to execute would make a great entrepreneur.

Also Read: From teaching to a writing startup: Why and how I’ve pivoted my career

Once you know your superpower, build a career around your superpower. Two people can hold the same job, but no two people can hold the same career. For instance, 

• VC A may be the best VC who’s great at building rapport with founders, making intros to tier-one investors, and has the hustle to get access to deals.

• VC B may be the best VC who’s great at providing strategic and tactical advice, giving a platform for founders to share stories and connect with potential clients and partners, and has deep domain expertise.

Both of them have the same VC job and the same chance to be the best VCs globally. But, their paths to getting to their career goals will differ as they leverage different superpowers to get there, and that’s what I call ‘career paths’.

Focus on your superpower instead of your job

Once you find the ideal career that aligns with your superpower, the next step is to focus all your effort on honing that superpower.

It doesn’t matter what your name card reads because that’ll change from one year to another. What matters is knowing that you’re building your own individualised career path, and every day you spend honing those superpowers, you are moving closer to your career goals.

A career is personalised to you and brings out the best of your potential. So stop looking for a job, and start with these three simple steps: 

• Identify your superpower.
• Define an ideal career that aligns with your superpower.
• Build on your superpower day in and day out.

As Naval Ravikant famously said, “You can escape competition through authenticity when you realise that no one can compete with you on being you.”

This reminds me of one of my favourite Charlie Munger quotes, “Imitating the majority is the sure-fire path to average results.”

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E-commerce brand aggregator Rainforest today announced that it has completed the acquisition of Millenium Enterprises including its flagship baby care brand NatureBond.

In an email statement to e27, Rainforest Co-Founder and CEO JJ Chai wrote: “It was a 100 per cent acquisition of NatureBond and its parent company Millenium Enterprises for a significant seven-figure amount. Rainforest will continue to double down its efforts in acquiring promising brands to assemble a compelling portfolio of products for the modern mum segment.”

Following the acquisition, Millenium Enterprises founder Jeffrey Chua will be an advisor at Rainforest and NatureBond’s existing team will join Rainforest.

Rainforest will also support the brand’s marketing, pricing, supply chain, sourcing, product development and cross-border expansion levels. Apart from NatureBond, it already has over 13 cross-border brands in the mother, kids, baby care, and home categories.

According to a statement, NatureBond was recently ranked by The Straits Times and Statista as one of the fastest-growing companies in Singapore. Founded in 2016, it currently holds 31 patents globally and distributes its products to over 10 million consumers in 22 countries. To date, the brand has received over 40,000 positive product reviews and testimonials.

“We are immensely excited to welcome Naturebond into Rainforest’s growing family of brands for the modern mum. In a short time, NatureBond has established a reputation for creating fresh, distinctive and insightful products in an industry that is sometimes conservative in its innovation. This aligns well with our portfolio strategy as we continue to assemble compelling international brands targeted at the modern mum. I believe this partnership will accelerate both Naturebond’s global growth and the growth of our current baby brands and I am very excited by the opportunity ahead of us,” Chai said.

Also Read: How consumers are prioritising sustainability beyond the single lens of eco-friendly products

As an e-commerce aggregator, Rainforest works by acquiring consumer e-commerce brands, enabling them to provide entrepreneurs with a healthy exit and support brands in their growth journey.

Last year, the company secured a US$20 million Pre-Series A funding round led by Monk’s Hill Ventures. It plans to use the funding to acquire brands and has used it to buy out six e-commerce brands on Amazon marketplaces.

In the same email, Chai said that it intends to deploy over US$100 million this year towards further acquisitions to grow its portfolio. It also claimed that in the second half of 2021, the company’s brands grew three times faster than the US e-commerce market.

Brand aggregator is one of the most promising e-commerce branches in recent years, especially when seen from the funding round that companies in the verticals have raised.

In November 2021, Hypefast, an e-commerce brand aggregator in Indonesia, secured US$19.5 million in a Series A round of investment –also led by Monk’s Hill Ventures. It is set to compete with Singapore’s Una Brands and Rainforest.

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In the past few months, the metaverse has captivated web enthusiasts worldwide. From defining the concept of the metaverse to hypothesising its potential ability to transform the way our lives are lived, the metaverse is now being thought of by many as the future of the internet.

Yet, for a concept that could change the world’s relationship with the digital universe for good, not much has been said about how an individual could navigate this brave new world.

The metaverse is expected to be built on technologies that define Web3, such as Distributed Ledger Technology (DLT). But how exactly will such frontier technologies enable us to realise the full potential of the metaverse?

Verifiable data is our gateway into the metaverse

Individuals will likely navigate the metaverse as digital avatars, whether these be actual full-blown virtual reality customisable avatars, or whether these are just simple access requests from an electronic device.

With this additional layer of anonymity, how will stakeholders in the metaverse ensure their exchanges with other digital identities are true with the intended individuals?

An individual’s identity in the metaverse is a combination of who they are, and what they have. This means that to identify who a person is in the digital space; specific personal data points can be furnished to “prove” the person is who they are.

For example, data such as medical records, educational attainments, vocational qualifications, and other credentials that an individual may have, can help serve as personal data points that “prove” an individual is truly who they say they are.

It is also important to note that these “proofs” must also be verifiable. If identities used to navigate the metaverse are not verifiable, then there will be little additional value the metaverse can bring beyond its Web2 counterparts, online social games like Second Life and The SIMS, as information exchanges cannot be guaranteed and secure.

Just like that, the potential of the metaverse is all but erased, as it will then be another unreliable and untrusted platform for information exchange, dashing the hopes of web enthusiasts for the me where key transactions with real-life implications can be facilitated and conducted easier than ever before.

This is where verifiable data, enabled by DLT, play an important role. Information that has been written to the ledger cannot be modified or destroyed, thus creating an everlasting record that can serve as a reference check for identity “proofs” presented on the metaverse.

This means that verifiable data should drive information used for metaverse transactions to ensure stakeholders’ ability to authenticate key information of every individual.

Also Read: The transition is now: these Web3 apps are transforming global finance

Artificial intelligence can also be built into authentication processes, where an individual’s movements, behaviours, and actions on the metaverse are assessed to verify digital identity.

With DLT-based verifiable data, cryptographic hashing and the potential to act on a zero-knowledge proof basis can assure metaverse users that their data is protected and secure.

Cryptographic hashing allows data obfuscation, which deters malicious actors from siphoning an individual’s personal data. Zero-knowledge proofs allow authentication without having to reveal information that could be compromised.

This means individuals have complete data ownership and the autonomy to decide what information to share, whether it is a simple yes or no answer, and with who, securely.

DLT-based verifiable data also allows interoperability of an individual’s digital assets, such as NFTs and verifiable documents.

This means individuals can transfer their digital assets from metaverse to metaverse, unlike traditional online social games.

Not only does this enable individuals toto transact across metaverses meaningfullybut it also has implications on an individual’s digital identity.

The decentralised nature of DLT-based verifiable data unlocks the potential for users to create a single identity that can be used to access multiple metaverses through decentralised authentication, especially since an individual’s digital assets, which may serve as identifier data points, are metaverse, transferrable.

This means individuals no longer need to create multiple “accounts”, if you will, to access different networks created by different communities.

By enabling individuals to operate with one single digital identity, the individual’s digital identity grows as their personal data points accumulate, creating a stronger, unique digital identity.

Over time, as metaverse participants deepen their interactions with the metaverse, the community will collectively improve the ability of Web3 technologies to authenticate identities and facilitate transactions.

Also Read: To infinity and beyond: Why 2022 will be the year of Web3

Metaverse gaming: an example of verifiable data applications

Gaming in the metaverse is rapidly gaining momentum in digital economies like South Korea. The advent of play-to-earn metaverse games is an example of how DLT is facilitating the world’s entry into the metaverse.

DLT-based digital currencies, verifiable and non-fungible, enable metaverse game developers to incentivise gamers by enforcing play-to-earn tokenomics, where in-game currency earned can be traded on exchanges.

Through the use of tokenomics, entire economies are currently being built in the nascency of the metaverse and this number will only continue to grow as we move forward with Web3.

These currencies, aside from their utility, also form part of the individual’s digital identity equation of what they have. Here, we see verifiable data as a way to drive gaming participation, build metaverse economies, and also reinforce digital identities.

The trading of assets is a recurring gaming concept that has also found its way into metaverse games. Gamers are familiar with trading, they have been trading gaming assets for real-world currency for decades, either via over-the-counter trades or popular platforms like G2G, Zeusx, and Kaleoz.

Traditionally, peer-to-peer trading has always been highly dependent on trust. A common dilemma faced by gamers would be the order of the transaction, does the seller send the assets first, or does the buyer send the payment first?

The reason for such a dilemma to exist in the first place is because such transactions occur in two different planes, the gaming universe and the real physical world. In the metaverse, such dilemmas may continue to exist, especially when it comes down to trading digital assets for physical ones.

The good news is that smart contracts, which are self-executing programs based on pre-defined requirements, built with DLT, powered by DLT-based digital currencies, and secured by verifiable data, can create a trustless transaction that cannot be compromised.

Only when the required commitments have been completed in full by both parties, will the transaction be executed.

The potential of metaverse gaming to facilitate financial transactions underlines the looming impact the metaverse would have on the world as we know it. This is even before considering the exploration that still needs to be done in the realms of metaverse advertising, entertainment, supply chain management, and so on.

Also Read: The different ways the Web3.0 is enabling marketplaces

Yet, one thing remains in all of these possibilities: the fact that DLT-based verifiable data will be the bedrock for most metaverse exchanges.

There is still work to be done in preparation for Web3

The biggest issue today with the adoption of Web3 and its offspring, such as the metaverse, is the technological gap between Web2 enterprises and the Web3 ecosystem.

Most of our information and data currently exist in Web2 databases, systems, and enterprises. These typically do not have the technical capability or risk appetite to participate in the Web3 ecosystem, and herein lies the biggest leap the world has to make to adopt Web3.

To stay on the curve, organisations and governments will need to find ways to port legacy information and data from traditional formats into outputs that are compatible with the new digital ecosystem. This includes transforming centrally-stored data into digital, verifiable, decentralised data pockets owned by the individual.

For Web2 firms that have the foresight to recognise this but lack the technical skills to implement change, frontier technology providers, such as Accredify, can help them apply enterprise-grade solutions to enable workflow integration for outputs that are in Web3 compatible formats.

In this manner, these enterprises can transform their data and information into decentralised, user-owned data stores where users can readily utilise this data in the Web 3 ecosystem.

Nobody is certain of how far Web3 will go to replace Web2, but we have learnt enough to know that the world should already start bracing for the impending wave of change that is to come.

Organisations can begin preparing by letting verifiable data drive their processes, it is what will power almost every transaction in Web3. By doing so, organisations will futureproof their enterprises by ensuring their processes, outputs, and ways of working, remain relevant and compatible with the new digital ecosystem.

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Last week, the United Nations Environment Assembly (UNEA) made a landmark decision as 175 countries agreed to establish a legally-binding Global Plastics Treaty.

The largest multilateral international agreement saw on the entire plastics value chain, ‘from source to sea,’ this treaty holds the potential to generate a huge surge of demand for innovation.

While the final agreement will not be ready for another two years, it is already referred to as the ‘Paris Agreement for plastics’, about the COP21 treaty that agrees to limit global warming to ‘well below’ 2°C.

This treaty represents a huge opportunity for global cooperation but more than that. It charts a clearer path for entrepreneurs looking to solve the urgent issue of the plastic pollution crisis.

The need for this is clear in Southeast Asia, where the abundantly visible plastic pollution crisis has already inspired hundreds of entrepreneurs to collect, sort, and innovate plastics at every stage of the manufacturing process, from waste pickers (​​the people who derive an income for picking material from waste streams) to researchers and startup founders.

A clear(er) opportunity for our entrepreneurs

The exciting opportunity of the Global Plastics Treaty lies in clarifying and unifying a  fragmented policy landscape.

By now, news about the plastics pollution crisis is no longer surprising, nor are the attempts to solve it. Where nations have lacked waste management infrastructure, informal waste pickers have collected, sorted, and managed plastic waste for decades.

In fact, they are responsible for 97 per cent of PET bottles collected for recycling, a formal part of the waste management system, which means they often don’t receive social and economic protections. 

Each nation has different goals, metrics and approaches to tackle the plastics pollution crisis. Not to mention how regional initiatives (such as the ASEAN regional action plan for combating marine debris) often sit separately too.

The Global Plastics Treaty has the opportunity to create a single framework and reporting system for all stakeholders to align with. This will greatly benefit entrepreneurs, as a clearly defined problem to solve makes for a better target for innovation. 

Across Southeast Asia, entrepreneurial individuals are already applying themselves to the plastics pollution crisis.

Also Read: Why interest in cleantech lags and how startups can overcome

For example, Vietnam-based ReForm Plastic currently empowers over 20 informal waste workers while operating six decentralised factories across Southeast Asia via a social franchise model with over 100 tons of non-tradable plastic waste processed in 2021.

The startup currently empowers 10 informal waste workers while operating four factories across Southeast Asia, with 85 tons of plastic waste diverted in 2021.

With a global treaty that clearly outlines the steps toward tackling plastic pollution, the markets for solutions to these issues become a lot clearer.

In turn, this de-risks the innovation opportunity for entrepreneurs. Starting your venture involves an element of luck but creating one that meets a clearly defined problem with legally-binding goals makes it an opportunity that is both more secure and stable to explore.

When we de-risk innovation, we open the doors wider for a more diverse range of entrepreneurs to enter the market.

Enabling more sustainable livelihoods

Plastic pollution disproportionately impacts the poor and the marginalised. Innovating today is not just important but urgent.

Limited choices and incomes restrict households to rely on single-use plastic packaging, while underdeveloped infrastructure can leave communities drowning in plastic waste.

Yet these communities are not simply victims of plastic pollution; they had played a critical role in tackling this crisis before the treaty was even on the table.

It’s exciting to see that stakeholders across the plastic value chain are not just advocating for the voices of some of these unheard voices. The efforts of waste workers and the informal sector were explicitly named in the treaty, so we hope their interests and voices will be represented in the final agreement.

Also Read: Why corporates and investors must climb the mountain called sustainability

These perspectives, and expertise, are critical to ensure solutions meet the needs of affected communities, and innovations will be built with, not enforced on, those on the frontlines.

While anyone can innovate, not everyone has the resources. When entrepreneurs face fewer risks or resistance, they’re more likely to start pursuing their innovation – and succeed. 

At The Incubation Network, we have the privilege of supporting an incredible number of entrepreneurs innovating for the better on a daily basis.

One fantastic example in Indonesia is Reciki Solusi which has launched a new project to improve the livelihoods of women waste workers and the impact of waste banks by establishing a buy-back centre for rigid plastic.

Women at their centre will have the opportunity to be formally employed, be enrolled in the national social security and health insurance program, and be given opportunities to upskill.

A compass, not a map

The foundations of the treaty have made one direction clear: the entire plastics value chain, from source to sea, needs to be revisited. If we want to reimagine the whole lifecycle of plastics, we need to take a holistic approach and come up with circular solutions.

The circular economy promotes closed-loop production, think reduce, reuse, recycle. Instead of a cycle of extraction and waste, we follow a cycle of sustainable resource usage.

Tackling such a visible and prominent problem like the plastics pollution crisis could help carve a path for other industries to consider a circular economy approach.

While the finer details and deliverables of the Global Plastics Treaty are being discussed, entrepreneurs have a clear remit to tackle the plastic pollution crisis. Those who move ahead of the treaty’s legally binding requirements stand to gain from a first-mover advantage once it is finalised.

The details may not be clear, but the sentiment is: there are opportunities for innovators at every stage of the plastics value chain and space for new players to emerge.

There is already a growing swell of energy and interest in the opportunities that a circular approach to plastics and waste could offer.

In the last two and a half years alone, The Incubation Network has worked with upwards of 200 solutions looking to do just that and will continue to build on the ecosystem’s momentum to further progress. 

Policies can be an important innovation catalyst. The Global Plastics Treaty presents an opportunity to put an overdue target on our region’s plastic pollution crisis. Bringing attention to the entrepreneurial gap is critical to inviting more stakeholders and startups into this space. 

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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