It takes a village to raise profit in Web3 gaming

More: Early-stage fund Cradle’s tie-up with Malaysia’s stock exchange. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [Iskra’s formula for Web3 gaming profits]( - FPT Corporation’s ambitious plans for Vietnam’s semiconductor industry - Other newsy highlights such as the close of Vertex Ventures Southeast Asia and India’s fifth fund and Korean telco giant KT Corporation’s investment in edtech firm Mathpresso. --------------------------------------------------------------- Hello {NAME} “If you want to go fast, go alone; if you want to go far, go together,” is one of my favorite African proverbs. Alright, to be honest I don’t know any other African proverbs, and even the exact origins of this one are disputed. But the point still stands - it’s a great piece of wisdom. Whether it’s in education, business, sport or any other walk of life, the ability of humans to cooperate with one another is our species’ superpower. (Hat tip to Scott Galloway). The device on which you’re reading this wouldn’t have made it into your hands without the cooperation of likely thousands of people over the years, and neither would virtually anything else within your eyesight. I find that a pretty comforting fact. Whenever I’m stuck with a problem, frustrated with something, or feel like I’m alone, I try to remind myself that I’ve always been lucky enough to have great friends, family, and colleagues to lean on. Similarly, Web3 gaming firm Iskra is blessed with great allies: Line, Kakao, and Netmarble. Maybe the cooperation of its backers is partly why Iskra has reached profitability in such a volatile sector. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Line- and Kakao-backed Web3 gaming firm makes $8m while staying profitable]( The Singapore-based company, which presents itself as a hub for Web3 gaming, also generated US$8 million in revenue last year. --------------------------------------------------------------- TRENDING NEWS [FPT Corporation seeks US support for Vietnam’s semiconductor industry]( The Vietnamese tech conglomerate expects to invest US$100 million in the US market by the end of this year. [Vertex Ventures SEA, India raises $541m for 5th fund]( The new fund was oversubscribed and exceeded the initial target of US$450 million. [Singapore’s top-funded tech companies in the last decade]( This automated tracker will help you see which tech firms in the city-state are scoring the most investments. [South Korea’s Mathpresso raises $8m to develop LLM for edtech]( The company is planning to enter the US, which it called the largest private education market among English-speaking countries, by the end of 2023. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Why ASEAN’s angel investors are hibernating amid tech winter]( A survey by AngelCentral showed that there's an increase in the number of angels who have paused or stopped their investing activities. --------------------------------------------------------------- FOLLOW US ON TELEGRAM Subscribe to the Tech in Asia Telegram channel and never miss a story Social media is a noisy place where we’re all at the mercy of the algorithms, so it can be easy to miss out on the news and updates you went online looking for in the first place. Luckily there is a solution: the Tech in Asia Telegram channel! Every time we publish an article, a message with a link to the piece will pop up in our Telegram channel. No more sifting through your LinkedIn or Twitter feed to find the news you need. Click [here]( to join the channel and never miss one of our stories! ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [StartmeupHK Festival]( on November 8 to 17 Many brands like to use “all-in-one” to emphasize their range of offerings . This can be applied to events too - at this year’s StartmeupHK Festival, attendees will get to explore a huge range of topics all in one place such as Web3, healthtech, proptech, greentech, GameFi, and more. Want to find out what else you can expect from this all-in-one event? Visit the StartmeupHK Festival website [here]( to learn more. - [Startup Arena Pitch Battle]( at the Tech in Asia Conference (Apply by September 25) Startup founders, stand a chance to win a US$10,000 cash prize and more! Each finalist will get to pitch live to a panel of investors on the conference’s Main Stage and get a complimentary Startup Factory booth to showcase their startup. Finalists not based in Indonesia will also receive up to a US$1000 travel stipend. Apply [here](.  - [Tech in Asia Conference]( from October 18 to October 19 Do you see the light at the end of this funding winter’s tunnel? We do, and we believe Southeast Asia is that very light. That’s why this year’s Tech in Asia conference’s theme is Southeast Asia: A Bright Spot in the Tech World - signaling how the region can provide hope and guidance for the tech sector amid some troubling times. Hosted in Jakarta from October 18 to October 19, we’re excited to bring you a great lineup of speakers, thought-provoking sessions, and other activities. Click [here]( to get your limited first-release tickets - [Tech in Asia’s Founders Meetup: Philippines on September 27]( Engage in a real talk with founders at our first-ever panel of the Founders Meetup series on September 27. Moderated by Tech in Asia editor-in-chief Terence Lee, this session invites you to hear from Brian Cu (CEO and co-founder, SariSuki) and Rexy Josh Dorado (president and co-founder, Kumu) as they discuss the real side of kickstarting and scaling a startup in the Philippines. Get a ticket to join us at Weremote Makati Central Square (2nd Floor, Makati Cinema Square, Chino Roces Ave, Legazpi Village, Makati, Metro Manila) from 5:30 p.m. to 7:30 p.m. Avoid FOMO and [sign up now]( ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - Voiro - [Voiro Launches A Complete Business Management Suite For Ad Monetisation Teams]( Voiro, an enterprise SaaS company, launches a complete business management suite for ad monetisation teams across sectors. - Smart Communications - [Experience the future of mobile streaming at FIBA Basketball World Cup 2023]( Smart and Radisys successfully ran its beta test of the Smart LiveStream App boasting groundbreaking features. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Tech Journalist]( at Tech in Asia Jakarta, Indonesia - [Scrum Master]( at Sagara Technology Group Jakarta, Indonesia - [Associate Data Product Manager]( at Sekolah.mu Jakarta, Indonesia - [Project Manager]( at Jala Tech Yogyakarta, Indonesia - [Head of Project]( at Scout.inc Jakarta, Indonesia - [Activation Specialist (Mekari Talenta) - Bali]( at Mekari Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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