Miguel Cordon · · 1 min readSingapore scions forms exclusive club centered around NFTs
A pair of Singaporeans from the country’s wealthiest families have joined hands to form Arc, a social media platform that revolves around NFTs, Bloomberg reported.
Kiat Lim and Elroy Cheo founded the company with the vision of creating an exclusive club for holders of its NFTs (non-fungible tokens). These holders may include entrepreneurs and social media stars. Their sisters also fall into the category with a combined following of around 675,000 on Instagram.
With Arc, the two will look to connect individuals from around the globe who are interested in cryptocurrency. They can then socialize and collaborate among themselves. The company also plans to create its own metaverse – a virtual world – with events and games.
To monetize this endeavor, the duo plan to charge a subscription fee for users who don’t hold their NFTs. Right now, the Arc app is only available for iPhone users, but an Android counterpart is already in its testing stages.
See Also: Meet Singapore’s pioneering NFT creators
Editing by Arpit Nayak
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