Scions of secretive Singapore tycoons want to create an NFT club

Two scions of Singapore's wealthy families are collaborating to make an exclusive social networking app, which requires users to buy into their NFTs to gain access. — AFP

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.