PRESTIGE 40 under 40

CREATE, INNOVATE, ADVANCE 2024'S GAMECHANGERS BREAK RECORDS, DRIVE COMMUNITY AND ENVIRONMENTAL CARE, AND RIDE THE HIGHS OF TECHNOLOGY. HERE ARE THEIR STORIES.

BUILDING COMMUNITIES IN WEB3 ELROY CHEO, 39 Co-founder of Arc

Elroy Cheo is building his own story - and he's doing it in the Web3 space with Arc, an app-based digital community driven by blockchain technology and collaboration between its members. Co-founded with tech entrepreneur Kiat Lim and Singaporean musician JJ Lin, the platform is the first of its kind in Asia and uses NFTs as proof of membership and includes real-world incentives such as access to private clubs, networking events and exclusive experiences with partners such as Millennium Hotels and Resorts and Zouk.

For Cheo, who is the platform's "architect" and oversees its user experience, Arc is the coming together of his passion for cryptocurrency and Web3 and a gap in the Asian market that he felt needed to be filled.

Since its founding in 2022, Arc has grown into a 660-strong community that includes artists, social media influencers and business leaders such as Casetify's Wesley Ng. Rotten Tomatoes' Patrick Lee and Tribe and StackUp's Yi Ming Ng.

Says Cheo, "We realised that NFTs were a perfect mechanism for the kind of community we envisioned Arc to be, where members come together to collaborate and build new things together. With NFTs, we have transformed membership into a digital asset, and this naturally creates a mechanism that motivates members to participate and contribute, strengthening and growing the community, which enables the digital asset to grow in value.

"Our vision for Arc is to be the start of a new kind of investment and incubation powerhouse - one that is built and driven by the community instead of a company or an individual." Candice Chua

PURPOSE-DRIVEN STYLE SUSANNAH JAFFER, 33 Founder and CEO of Zerrin