Scions of Secretive Singapore Tycoons Want to Create an NFT Club
- ARC is an online platform with non-fungible token membership
- Singapore-based firm plans to add offline events for members
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A pair of scions from Singapore’s wealthiest families are teaming up to create a private NFT-based social networking app, becoming the latest among the well-heeled to jump aboard an intensifying crypto craze.
Kiat Lim, the 28-year-old son of reclusive financier Peter Lim, and Elroy Cheo, of the family behind edible oil business Mewah International Inc., have founded ARC to create the exclusive community. The pair envision an online club where membership is open to anyone holding the startup’s non-fungible tokens, from entrepreneurs to social media influencers.