The two sons of Singapore’s wealthiest families, Kiat Lim and Elroy Cheo have recently <a href="https://www.afr.com/technology/scions-of-secretive-singapore-tycoons-want-to-create-an-nft-club-20220106-p59mfi" target="_blank" rel="nofollow noopener">teamed</a> up to develop a private social networking app for NFT owners. Kiat Lim is the son of financier Peter Lim, and Elroy Cheo comes from the family behind edible oil business Mewah International.
<h2><strong>Social Network for NFT Owners</strong></h2>
A social networking app called ARC which uses <a href="https://www.cryptoknowmics.com/news/polygon-gas-fee-jumps-to-record-highs-due-to-an-nft-game/">NFTs</a> to authenticate membership is currently under development. The intention behind this includes collaborating on projects and creating an exclusive community of Asian entrepreneurs, venture capitalists, Web3 developers, cryptocurrency experts, and social influencers among its members.

There are also plans to host exclusive member events, before eventually creating an ARC metaverse, an online virtual community with a gaming element. Commenting in a statement, ARC co-founder Kiat Lim stated:
<blockquote><em>“Access today, share opportunities tomorrow, that’s our tokenization strategy and what makes ARC stand out from any other networking platform. ARC’s ambition is to be a bridge across the real and virtual world today, and, in the near future, the ARC metaverse.”</em></blockquote>
Apart from promoting collaboration among entrepreneurs and innovators, ARC also aims to be a meeting place to discuss topics such as the challenges of launching new businesses amid the Covid-19 pandemic.
<blockquote><em>“By creating a safe space for Asia’s dynamic and purpose-driven generation to connect authentically, ARC is a new collaborative destination that opens up endless possibilities,”</em> ARC cofounder Elroy Cheo said.</blockquote>
The beta version of the ARC app has already been launched on the Apple store, making it available for iPhone users. There is also an Android version of the app which is currently under development.

Singapore Tycoons’ Sons to Develop NFT Social Networking App

The two sons of Singapore’s wealthiest families, Kiat Lim and Elroy Cheo have recently teamed up to develop a private social networking app for NFT owners.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Singapore Tycoons’ Sons to Develop NFT Social Networking App

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