The Bruce Lee Family Company has partnered with 1inch to promote the mainstream adoption of decentralized finance (DeFi) and cryptocurrency.
The Bruce Lee Family Company has partnered with the decentralized exchange aggregator 1inch for the “Take crypto seriousLee” campaign. The initiative aims to alter the public’s perception of cryptocurrencies by combining DeFi and the legacy of the famous fighter actor. It would emphasize the shared values between Lee’s philosophy and 1inch’s technology.
The Alliance’s ultimate objective is to accelerate the mainstream adoption of DeFi.
The latest Alliance to be Extended Between the Bruce Lee Family Company and 1inch
Sergej Kunz, 1inch’s co-founder, has stated that the parties have been engaged in negotiations regarding this agreement for the past three years. For an extended period, the DeFi protocol has established a robust connection with the legacy of the renowned Hong Kong-American martial artist and actor. According to 1inch’s blog post, “1inch” is derived from Bruce Lee’s renowned “one-inch punch.”
Kunz also confirmed that the most recent partnership promotes “mainstream adoption [and] as a tribute to the Bruce Lee family.” Lee is expected to exert his influence in Web3, and the partnership is likely to be the beginning of a multi-year agreement. It is essential to mention that the Lee brand entered the rapidly expanding Web3 market last year through Shibuya, a video platform driven by non-fungible tokens (NFTs).
The “House of Lee: Genesis” NFT collection was released. It featured hand-drawn artwork of the actor by Emily “pplpleasr” Yang, an artist and co-founder of Shibuya. The team created an open-edition NFT, which meant that only an infinite number of units were available for purchase during the mint period. At the time, a single NFT was sold for approximately 0.008 ETH (roughly $15).
The multichain liquidity aggregator headquartered in San Francisco anticipates a future in which it will engage in more frequent collaborations with the Lee brand.
Initially, both parties intend to implement an advertisement campaign that utilizes the phrase “Lee, take crypto seriously.” The narrative surrounding digital assets will be altered by this campaign, which will be built upon Lee’s legacy of “efficiency and precision.” Ultimately, it will contribute to reducing the perception of crypto as a purely speculative asset. A few additional activities will follow the release of the campaign video in a few months.
1inch Request for a Custom-Made Regulatory Framework for Web3
Commenting on his perspective on DeFi regulations, the co-founder of 1inch stated:
“It’s essential to establish regulatory standards in DeFi to bring greater clarity. Implementing practices like AML screening and compliance checks can enhance our environment and make it more regulatory-friendly while still allowing innovation to thrive.”
Kunz also emphasized that the DeFi and Web3 sectors do not require the same regulations as the traditional financial sector. He provided additional context by elucidating the extent to which Web3 encompasses finance, gaming, gambling, and other areas. Consequently, he believes the industry requires a regulatory strategy tailored to its distinctive technology.
Additionally, Kunz recognized the necessity for regulators and project creators to work together to develop equitable solutions that promote innovation and safeguard users. He asserts that this should be their primary objective rather than imposing restrictive measures that could impede growth.