Kiat Lim—son of Singaporean billionaire Peter Lim—has joined the craze for non-fungible tokens (NFTs) with the launch of a private digital community for next generation entrepreneurs on a platform powered by blockchain technology.
Lim teamed up with Elroy Cheo—a scion of the family that owns edible oils firm Mewah International—to create ARC as an exclusive community which counts Asian entrepreneurs, venture capitalists, Web3 developers, cryptocurrency experts and social influencers among its members.
“Access today, share opportunities tomorrow, that’s our tokenization strategy and what makes ARC stand out from any other networking platform,” ARC cofounder Kiat Lim said in a statement. “ARC’s ambition is to be a bridge across the real and virtual world today, and, in the near future, the ARC metaverse.”
ARC is the second technology startup established by Lim. In October, he and his father launched ZujuGP, a digital community built around football endorsed by Manchester United’s Cristiano Ronaldo. Lim is also the executive director of Singapore-listed Thomson Medical Group and CEO of Thomson X, the healthcare provider’s digital platform.
The beta version of the ARC app, which uses NFTs to authenticate membership, has already been launched on the Apple store, making it available for iPhone users. ARC is also developing a version of the app for Android smartphones.
Apart from promoting collaboration among entrepreneurs and innovators, ARC also serves as a venue for members to discuss topics such as the challenges of launching new businesses amid the lingering impact of the Covid-19 pandemic.
“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,” ARC cofounder Elroy Cheo said.
Cheo, who spent the past decade helping his family’s business expand into new markets, has been dabbling in cryptocurrencies and NFTs in the last few years. He is the architect of the ARC community, which plans to add an ARC metaverse as well as gaming and decentralized finance elements that would allow members to earn while collaborating on the platform.