Wemix won the Korea Ladies Professional Golf Association (KLPGA) Championship Payment will be made in Wemix cryptocurrency. There are two competitions in the tournament: Match Play, where players compete on individual holes, and Stroke Play, where they compete against other players for an entire round.
The top 12 golfers in the Wemix rankings will face the bottom 12 in match play format. The 12 winners and losers will be divided into Final A and Final B pools and compete for cryptocurrency prizes in a stroke play contest.
Korean Golf Tournament Offers WEMIX Token Trading 97% Lower Than All-Time High
Wemix confirmed that one million of its WEMIX tokens were up for grabs, but did not specify how much the winner would receive. The championship begins on November 18th.
At the end of each season, the top 60 ranked golfers on Wemix share 50,000 tokens, and the token price is currently down 97% from its all-time high. The highest-ranked player, Lee Ye-won, recently received 90,000 Wemix.
Tournament sponsor Wemix develops tools for use on the decentralized internet. WemixPlay’s mega blockchain game platform is responsible for over 90 mobile titles. The NILE platform is a decentralized autonomous organization developing a new civilization based on blockchain, while WEMIX.Fi is a decentralized platform that provides exchange, deposit, asset management, and investment services.
Last year, the Sport Fishing Championship awarded $1 million in cryptocurrency to the best saltwater angler.
Read here about how to find new blockchain gaming dApps.
Regulators are still wrestling with DeFi and NFTs.
So far, few countries have set rules governing how projects handle Web3 token issuance. Europe’s upcoming Markets in Crypto Assets (MiCA) bill will require issuers of new tokens to produce a whitepaper before exchanges will consider listing their assets.
Learn the basics of GameFi, a niche market in decentralized finance, here.
South Korea’s Virtual Asset User Protection Act includes measures to protect investors from market manipulation. Except for Bitcoin, most virtual assets are considered securities that must comply with existing laws.
The Financial Services Commission will oversee the industry and expand regulations to include newer cryptocurrency ideas. Future revisions to MiCA may also regulate decentralized finance and NFTs.
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