• Crypto & Funx
• 29 Dec, 2024

DeFi is going mainstream per the 1Inch partnership with Bruce Lee Family company.

Both will roll out a campaign to drive this agenda.

1Inch co-founder Sergej Kunz is advocating for functionality regulation to help DeFi grow.

Decentralized Exchange aggregator 1inch has with the Bruce Lee Family Company for the “Take crypto seriousLee” campaign. The initiative fuses DeFi and the legacy of the popular fighter actor to shift the public’s perception of cryptocurrencies. It would specifically highlight the shared values between 1inch’s technology and Lee’s philosophy.

Ultimately, the alliance aims to boost DeFi and drive mainstream adoption.

Bruce Lee made martial arts fluid and accessible. 1inch does the same for DeFi, breaking down barriers for pure efficiency ⚡

Get ready for epic events as we celebrate Bruce Lee’s legacy in crypto! ?

Dive into the story behind our partnership ⬇️ https://t.co/4RbQDiXyia

— 1inch (@1inch) October 28, 2024

Bruce Lee made martial arts fluid and accessible. 1inch does the same for DeFi, breaking down barriers for pure efficiency ⚡

Get ready for epic events as we celebrate Bruce Lee’s legacy in crypto! ?

Dive into the story behind our partnership ⬇️

— 1inch (@1inch)

1inch and Bruce Lee Family Company to Extend Latest Alliance

According to 1inch’s co-founder Sergej Kunz, both parties have worked on this deal for the last three years. For a very long time, the DeFi protocol has created a strong connection with the heritage of the legendary Hong Kong-American martial artist and actor. The name “1inch” comes from Bruce Lee’s iconic “one-inch punch,” per 1inch’s blog post.

Kunz also confirmed that the latest partnership is focused on driving “mainstream adoption [and] as a tribute to the Bruce Lee family”. The partnership is likely the beginning of a multi-year deal, with Lee exercising his influence in Web3. Noteworthy, the Lee brand the burgeoning world of Web3 last year through Shibuya, a Non-fungible token (NFT)-driven video platform.

There was a release on an collection titled “House of Lee: Genesis”. It featured hand-drawn artwork of the actor by artist and Shibuya co-founder Emily “pplpleasr” Yang. The team made it an open edition NFT, meaning that only an unlimited number was available for purchase during the mint period. One NFT sold for around 0.008 ETH (about $15 at the time).

Currently, the San Francisco-based multichain liquidity aggregator sees a future where it collaborates more with the Lee brand.

For a start, both parties plan to run an ad campaign with the slogan “Take crypto seriousLee”. This campaign will stand on Lee’s legacy of “efficiency and precision,” to change the narrative around digital assets. Ultimately, it will help reduce the perception of crypto as a purely speculative asset. A few other activities will follow the campaign video release in a few months.

1inch Request Custom-made Regulatory Framework for Web3

Speaking about his opinion on DeFi regulations, the 1inch co-founder noted:

“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.”

“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.”

At the same time, Kunz clarified that the DeFi and Web3 sectors do not need the same regulations as the traditional financial sector. For more context, he explained how Web3 encompasses finance, gaming, gambling, and more. Therefore, he opines that the industry requires a regulatory approach that is customized and suited to its unique technology.

Moreover, Kunz identified the need for regulators and project creators to collaborate on balanced solutions that protect users while fostering innovation. He says this should be their core focus instead of imposing restrictive measures that could hinder growth.