Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.
Hello reader,
“If you want to go fast, go alone; if you want to go far, go together,” is one of my favorite African proverbs.
Alright, to be honest I don’t know any other African proverbs, and even the exact origins of this one are disputed. But the point still stands – it’s a great piece of wisdom.
Whether it’s in education, business, sport or any other walk of life, the ability of humans to cooperate with one another is our species’ superpower. (Hat tip to Scott Galloway).
The device on which you’re reading this wouldn’t have made it into your hands without the cooperation of likely thousands of people over the years, and neither would virtually anything else within your eyesight. I find that a pretty comforting fact.
Whenever I’m stuck with a problem, frustrated with something, or feel like I’m alone, I try to remind myself that I’ve always been lucky enough to have great friends, family, and colleagues to lean on.
Similarly, Web3 gaming firm Iskra is blessed with great allies: Line, Kakao, and Netmarble. Maybe the cooperation of its backers is partly why Iskra has reached profitability in such a volatile sector.
Today we look at:
- Iskra’s formula for Web3 gaming profits
- FPT Corporation’s ambitious plans for Vietnam’s semiconductor industry
- Other newsy highlights such as the close of Vertex Ventures Southeast Asia and India’s fifth fund and Korean telco giant KT Corporation’s investment in edtech firm Mathpresso.
Premium summary
Game on
Image credit: Timmy Loen
Even though Web3 gaming is a relatively volatile sector, Iskra made US$900,000 in profit for 2022.
Registered in Singapore but based in Korea, the startup is backed by the likes of Line, Kakao, and Netmarble.
Will Uncle Sam chip in?
Subscribe to the Tech in Asia Telegram channel and never miss a story.
Quick bytes
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
