SCB 10X Introduces New Web3 Collaboration Space in Bangkok
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SCB 10X Divided in Two Sections
According to SCB 10X, the location is called DistrictX and is divided into two sections: a hacker home and an accelerating center. In order to foster web3 companies and prospective unicorns, the holding company under SCB will employ engineers and business owners for a six-month incubation program at the hacker home. The collaborators of SCB 10X, including Fireblocks, Nansen, The Sandbox, and RakkaR Digital, share office space in the expanding center.
The announcement, which comes at a time when funding for digital asset initiatives is becoming increasingly rare, demonstrates the core values of the company to the sector. In the third quarter compared to the second, venture capital in the sector decreased by almost 35%.
Plans to Incubate Six Businesses
The CEO of SCB 10X, Mukaya (Tai) Panich, told the resources that cooperation is crucial during this down market. More than ever, it's critical to consider that developers, not traders, are the ones driving this business ahead.
By the initial half of 2023, the holding company under SCB intends to incubate six businesses, according to Panich, who also stated that the company is interested in industries including web3 infrastructure, DeFi, gaming, or metaverse. The co-working area in DistrictX is now filled by associates and portfolio companies of the holding company under SCB, according to Panich, but it may eventually be opened to more businesses. According to Panich, the co-working space's rates are reasonable compared to those of other co-working spaces.