Sons of Singapore's wealthiest to create an exclusive club using NFTs

ARC uses NFT technology on its social networking app to verify members of the exclusive digital community


Vrisha Phrabhakaran

10 Jan, 2022

Sons of Singapore's wealthiest to create an exclusive club using NFTs | BEAMSTART News

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37-year-old Elroy Cheo, from the family that owns the oil company Mewah International and 28-year-old Kiat Lim, son of billionaire stockbroker Peter Lim founded a secretive NFT club.

ARC is an exclusive digital club that invites people across business capitals in Asia and Australia to discuss strategies, experiences and expectations regarding cryptocurrencies and NFTs.

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The founders have aptly named their startup ‘ARC’ with the intent to bridge the transition from Web2 to Web3 through a sense of community.

The club will be open to those who obtain ownership of the ARCs owned NFTs.

The NFTs will be used as the primary method to authenticate membership.

The founders have clarified that the club will be accessible to a variety of distinguished individuals, from social media influencers to venture capitalists and Web3 developers.

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Elroy Cheo elaborated that ARC plans to create a virtual community on the metaverse and include gaming and entertainment elements in the future.

For now, members can access content through the app currently available for iPhone users only.

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