[[[ForeverAlone]]]

SINGAPORE (BLOOMBERG) - A pair of scions from Singapore's wealthiest families are teaming up to create a private social networking app based on non-fungible tokens (NFTs), becoming the latest among the well-heeled to jump aboard an intensifying crypto craze.

Mr Kiat Lim, the 28-year-old son of reclusive financier Peter Lim, and 37-year-old Elroy Cheo of the family behind edible oil business Mewah International have founded ARC to create the exclusive community.

The pair envision an online club where membership is open to anyone holding the start-up's NFTs, from entrepreneurs to social media influencers.

Mr Kiat Lim and Mr Cheo are both crypto-enthusiasts with famous socialite sisters: Mr Lim's sibling Kim has some 319,000 Instagram followers, while Mr Cheo's sister Arissa has about 355,000.

They join a rush globally to cash in on the growing crypto-mania that is supercharging digital coin prices and start-up valuations. That shift quickened in 2021 as wealthy investors who once scorned digital tokens realised they could not bear to miss out on the potential for big gains.
https://www.straitstimes.com/business/co...n-nft-club?

[sgbuffett]

They are going to sell us NFTs then use their fathers' money to push the price up so we can all be rich.

That will be so nice of them

[lvlrsSTI]

Be careful, many NFC sites look genuine but are fake, they even have fake support staff contacting you to give you free NFT registration  to cheat your money

[Sharexchange]

Phew! I tot they want to go into hawker heritage culture..

[talky]

if dont know how the game is played better to avoid.

[starbugs]

With their silver-spoon backgrounds, they could have set up some really impactful business, but chose to go into a useless endeavor. Not much better than their "socialite" sisters.

[sgbuffett]

What is an NFT how does it benefit society?
For that matter ....
What is a bitcoin...what does it do for society?

I view both as speculative vehicles. Once you have it you promote it like hell  so others are convinced and come on board to push up the price.....as more come the price get higher and everyone feels richer.

[SgWinner]

Digital Asset trading business :-)