Singapore Tycoons’ Sons Plan Private NFT Club

The 28-year-old son of Singaporean billionaire Peter Lim has teamed up with Elroy Cheo of the family that owns edible oils firm Mewah International to create a private digital community for next-generation entrepreneurs.

Lim and Cheo said they founded ARC on a platform powered by blockchain technology envisioned to grow into a metaverse with a gaming element.

“We are a networking ecosystem that encompasses online and offline experiences and pushing online boundaries,” Lim said.

According to Lim, the name ARC partly expresses their ambition to bridge real and virtual worlds and the transition to Web3 – decentralized apps that run on the blockchain.

“We see the world change a lot, especially after COVID-19. People in this target segment now all want a sense of belonging,” Cheo said.

“Access today, shared opportunities tomorrow, that’s our tokenization strategy,” Lim said.

The ARC founders added that they created the collaboration platform as an exclusive community for Asian entrepreneurs, venture capitalists, Web3 developers, cryptocurrency experts, and social influencers.

Lim and Cheo were among the latest of the well-to-do to join the NFT phenomenon.

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