The Promise of Ethereum
Ethereum, the leading blockchain platform, and catalyst for a growing number of decentralized applications and blockchain-based platforms has proven over the past 12 months that it is far from a fad. This immutable, unhackable, distributed database of digital assets is everything the Internet always wanted to be: a fair and public way to store and transfer information. This is a platform for truth and it’s a platform for trust.
In the music industry, the protection of rights and distribution of earnings within the music industry is a key consideration. Removing the ability for piracy and allowing listeners to download music stored on the blockchain, paying for the music with cryptocurrency would be one of the paradigm shifts. It would also mean that the right people get paid.
This challenge of monetizing content is also prevalent in the broadcast content industry. Ethereum Blockchain with smart contracts makes for a perfect solution.
Pain Points for Content Creators
The industry has not changed in over 80 years. Today, it continues to be a largely offline and extensive process, involving multiple dis-jointed parties – the creators, the owners, the distributors, the increasing array of formats (eg. mobile, free-to-air TV, cable, OTT, cinemas, etc) and then there is a global consumer base with differing interests and language preferences.
The whole ecosystem today is highly fragmented and content creators are challenged to optimally monetize their content. Compounding the monetization challenge is the fact that content creators also face extremely high costs of distribution. Because the value chain is a cumbersome process for content to reach end viewers; typically 30% to 40% of the value of the content is being lost to cost of distribution via third-party commissions and fees. Hosting a conference booth and meeting events with champagne in the South of France at the Cannes Film Festival is no cheap affair.
To give some context on the potential value of a piece of content, let’s take well-known franchises like “Game of Thrones” or the “F1 Series”. These projects can be sold in 193+ countries via free-to-air, cable, satellite and streaming mobile platforms, that is, it can potentially be sold 600 different ways once you factor language and territorial configurations.
An “A” list project can potentially earn millions of dollars via such a syndication, however, a lesser known title is lucky to be sold in 10 countries and monetized in 10 ways. Hence the potential to optimize the value of this content is at least 50 times more for the content creator if they can easily monetize their content across the various permutations.
The chief pain points of content sellers are:
- Rights are tied up for the long-term (average 2-5 years) in distributor exclusivity contracts
- Distributor fees are significant; averaging 35% of the value of the content
- Rights are typically sold in bulk with other content which limits differentiation for content creators
- The multiplicity of currencies and the vagaries of the fluctuating exchange rates
- Content ages very fast and becomes less attractive to distributors to market
Such problems, which appear daunting are actually very easy to address, provided you have a global platform and a globally trusted ledger. Enter Ethereum Blockchain.
Pain Points for Content Buyers
Content buyers purchase rights to play the content on their own networks and channels, such as Netflix and cable TV channels like Sony. The buyers also face a host of problems:
- The content discovery process is fragmented and manual
- Delayed verifiability of the rights
- Limited by distributor’s rights options
- Bundled rights instead of customized selection
As we can see, these problems can also be solved by implementing a global platform and a globally trusted ledger. Thus, Blockchain is not an add-on, but a natural solution to the problems faced by the content rights industry.
There are companies operating traditional marketplaces for trading content rights today; like RightsTrade (2011), TRX (2015) and AllRites (2015). With the advent of the blockchain, we are starting to observe the emergence of companies like Hubii Network, LiveTree, and AllRites exploring the use of blockchain to democratize content.
In the case of AllRites, the company was established by media professionals with decades of experience in the industry. Being intimate with the distribution challenges, they are proponents of blockchain and are moving their existing marketplace onto the Ethereum Blockchain.
But they are not stopping there, the AllRites vision is to create an integrated B2B and B2C ecosystem to holistically support the overall industry. Built on Blockchain technology, the AllRites ecosystem will drive trade efficiencies between content producers and buyers globally, facilitate funding of creative ideas and offer direct streaming to end-customers. Two associated B2C platforms will complement their existing marketplace – RiteFund and RiteStream. For consumers, these platforms allow individuals to directly support and benefit from creative concepts that they believe in.
With RiteFund, the platform facilitates content creators to list their projects and allows prospective contributors to help get a project of their choice off the ground, like Kickstarter, but with infinitely more transparency in rights management and benefits sharing thanks to smart contracts.
RiteStream is for content owners with unsold rights to optimally monetize their content via direct streaming to a global viewership base. The smart contracts seamlessly manage viewers, rights availability and revenue sharing in the backend. For example, an OTT player, like iFlix, may purchase rights to showcase a piece of content in only 30 countries, with RiteStream that same piece of content can potentially be monetized in the remaining 163 countries by direct streaming, if viewers are interested in that content. View RiteStream like the “Spotify” of TV, Movies and Sports content.
For esoteric sports like, Extreme Sailing – they have ardent fans globally but such a sport is very niche and unlikely to garner support from mainstream broadcasters. With RiteFund, fans of Extreme Sailing can directly support creative talent who are also passionate about their sport and who are creating great content about it. These same creative talents can now monetize their content by streaming it directly to the Extreme Sailing fans globally via RiteStream.
Blockchain Technology Deployed
The team at AllRites believe that if the content itself can be reliably audited, the management of its rights becomes a much simpler exercise. Thanks to the Ethereum Blockchain, each ID can be a smart contract that manages the identity and purchase history of the rights belonging to one piece of content at an individual level. Thus, the rights can be sliced and diced in multiple ways and the buyers can buy only those rights which they need. The smart contract tied to each content piece records the transaction history of that content piece individually in a transparent and immutable manner.
While the content rights can be viewed by all prospective buyers, the sellers can be assured of optimal monetization due to the plethora of ways in which the rights have been divided into.
The ID tied to the content can be managed by creating a non-fungible token. It could be similar to the EIP721 protocol that was famously used by CryptoKitties. Thus, the sale and purchase of content rights can be recorded on individual non fungible tokens without affecting the entire ecosystem.
A global fungible token that adheres to the ERC20 standards can take care of the sale and purchase aspects of the deal. To ensure trust, AllRites will be storing the content as decentralized encrypted files which can be unlocked only by a private key.
On successful completion of a sale, the seller sends the private key to the buyer while the buyer transfers the payment tokens to the seller. As an added layer of security, the key and the tokens corresponding to the bid made on the content rights can be placed in an escrow. Once the sale is finalized, a smart contract takes over and governs the transfer of the private key and the tokens to the new owners in an automated manner.
Regarding the case of content creators with unsold content, the RiteStream platform caters to them. Here, the platform becomes the universal global distributor of the rights that went unsold and streams it directly to the viewers in exchange for tokens. In this case, content creators get a platform like YouTube, but with an infinitely better monetization potential.
It has also been seen that content creators, despite having amazing ideas, often struggle to get their plans off the ground due to lack of funding. Consumers are robbed of potential gems. In the music world, its analogues with the likes of Justin Bieber and Carly Rae Jepsen being discovered via YouTube.
With Ethereum, smart contracts can be implemented which facilitate the transfer of funds from fans and supporters directly to the content creators in an easy and trackable manner. Once the content is created, it is uploaded onto the AllRites Marketplace where content rights can be transacted. After subtracting for platform fees, all proceeds can be seamlessly transferred back to the fans/supporters corresponding to the ratio in which they were contributed.
Using blockchain and smart contracts makes the business of content rights deal making and distribution a lot less complicated and instantaneously verifiable. Blockchain takes care of the globally trusted ledger needs, the smart contracts take care of transactions by automating them.
This translates to tremendous efficiency gains for both content buyers and sellers. And, for owners of content, the age-old challenge of optimally monetizing their content is solved.
The added bonus is that in this new decentralized and immutable ecosystem driven by blockchain, consumers can finally have a direct say in what content they want to support and watch.
Polygon Partners With Blockchain Founders Fund to Empower Web3 Entrepreneurs
Blockchain Founders Fund (BFF), a Singapore-based Venture Capital Fund that focuses on early-stage Web3 and blockchain startups globally, today announces that Polygon, an Ethereum scaling platform onboarding millions to Web3, has made a strategic investment into their Fund II to diversify the company’s holdings and advance the mainstream adoption of blockchain technology.
Blockchain Founders Fund boasts an impressive portfolio of over 100 companies in the Web3 space with an equally impressive track record of effectively scaling them to targeted audiences. These companies include blockchain-powered no-code gaming studios (GRID), social intelligence for cryptocurrencies (LunarCrush), and various other applications built on top of blockchain infrastructure.
The fund II, which focuses on promising Web3, and metaverse startups, launched in January after raising $75 million from a host of leading crypto investors. Included among participating investors were NEO Global Capital (NGC), Appworks, Sebastien Borget, COO of The Sandbox, and Polygon co-founder Sandeep Nailwal.
This latest partnership marks another successful collaboration between BFF and Polygon. Previously, BFF has co-invested alongside Polygon in top blockchain companies such as Splinterlands and Altered State Machine to accelerate and empower decentralized applications. This collaboration will enable both companies to offer exceptional value propositions to web3 founders and entrepreneurs with high potential to disrupt industries.
Sandeep Nailwal, Co-Founder of Polygon said, “To bring the vision of Web3 to realization and help garner mainstream adoption, it’s vital that we support entrepreneurs in building innovative products and infrastructure. We look forward to working alongside Blockchain Founders Fund, who share our vision and believe in the transformative potential of Web3.”
Boasting just over 37,000 decentralized applications (dapps), Polygon is fast becoming the de facto platform for Web3. The network offers an array of blue-chip services ranging from decentralized finance (DeFi) dapps such as Aave, Curve, Balancer, and Uniswap, to the best gaming and metaverse platforms, including Decentraland, Somnium Space, and The Sandbox. Polygon also powers the mass market, helping major global brands, including Starbucks, Adobe, Clinique, and others, integrate Web3 functionality.
“The addition of one of the biggest crypto firms such as Polygon as a partner will expand our investment profile and ability to invest in a wider range of early-stage companies,” commented Aly Madhavji, Managing Partner of Blockchain Founders Fund. “Their expertise in the industry will greatly assist us in connecting with the best breed of high-potential companies that are building real solutions to real problems.”
Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted, 1.94B+ total transactions processed, 164M+ unique user addresses and $5B+ in assets secured. The network is home for some of the biggest Web3 projects such as Aave, Uniswap, OpenSea and well-known enterprises including Meta, Stripe and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.
About Blockchain Founders Fund
Blockchain Founders Fund (BFF) is a Singapore based early-stage Venture Capital Fund which invests in top-tier Blockchain startups globally. Their industry leading go-to-market focused Venture Program aids seasoned and first-time entrepreneurs across key business functions to fast-track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the Web3 and Blockchain ecosystems.
Wanchain Launches Cross-Chain USDT XFlows With Bridge Upgrade
Wanchain has announced its new ‘XFlows’ cross-chain bridge upgrade which will revolutionize trading of the world’s number one stablecoin, USDT, against many other widely used tokens. This new upgrade brings native-to-native USDT cross-chain transfers for Ethereum, BNB Chain, OKC, Polygon, Arbitrum, and more to be announced soon.
What are USDT XFlows?
USDT is minted natively on more than a dozen blockchains. Until now, the easiest way to move USDT between these chains has been to use centralized exchanges. Users can now use Wanchain’s industry-best cross-chain bridges to execute decentralized, non-custodial native-to-native USDT cross-chain transfers between Ethereum, BNB Chain, OKC, Polygon, and Arbitrum – colloquially referred to as XFlows. USDT XFlows are native-to-native USDT cross-chain transfers between blockchains where USDT is natively minted by Tether.
What Happens to Pre-Existing USDT Bridges?
Wanchain previously developed Direct Bridges, a method that uses a ‘lock-mint-burn-unlock’ method in which native tokens (like USDT) on the source chain would be locked before a mirrored copy, or wrapped token, is minted on the destination chain. To unlock the original token, the wrapped token is then subsequently burned.
Powered by Wanchain’s cross-chain bridges, XFlows offers a seamless experience that exists in concert with these pre-existing bridges. When bridging USDT to another network, users will automatically receive native USDT if native USDT exists on the destination chain. However, if USDT does not exist on the destination chain, users will receive wrapped USDT.
The Mechanics of XFlows
When bridging an asset that is minted natively on both the source and destination chains, a lock-mint-burn-unlock mechanism is not a viable option as users will undoubtedly want to receive the native asset, rather than a wrapped version.
With this new solution, when someone bridges their USDT from Ethereum to Polygon, their USDT is first added to a native liquidity pool on Ethereum before the same number of USDT is removed from the pool on Polygon.
Wanchain bridge nodes balance pools of native USDT on Ethereum, BSC, OKC, Polygon and Arbitrum to enable native USDT cross-chain transfers; all without sacrificing security and decentralization. USDT XFlows are executed using the same secure multi-party computation (sMPC) architecture that distinguishes Wanchain’s interoperability solutions.
Who Provides the USDT liquidity?
With these new native USDT cross-chain transfers, Wanchain is introducing a new method of liquidity provision that avoids the trappings of centralized liquidity and incentivized liquidity alternatives.
The USDT liquidity that powers Wanchain’s USDT XFlows is provided by users who bridge their USDT to another network using the lock-mint-burn-unlock mechanism. The USDT that is locked on a source chain, before wrapped USDT is minted on a destination chain, doubles as the liquidity powering native-to-native USDT cross-chain transfers.
The combination of the lock-mint-burn-unlock and liquidity pool methods is a major innovation in the field of cross-chain technology. The number of wrapped USDT in circulation is always equivalent to the total native USDT locked in liquidity pools across all chains.
As more wrapped USDT is minted, regardless of the network, more native USDT is added to the liquidity pools. These new USDT XFlows are both owned and powered by the users giving them more control over their money, and the network.
Current & Upcoming Bridges
USDT XFlows are currently supported by direct bridges connecting Arbitrum, BNB Chain, CLV P-Chain, Ethereum, Moonriver, OKC, Polygon, Wanchain, and XDC Network. In the future, Wachain’s USDT XFlows will support native USDT on Avalanche C-Chain and Tron. Additionally, Wanchain is working towards launching XFlows for the second biggest stable coin, USDC, which would give users coverage for almost all of the stablecoin market.
Bictory Finance launches web3 domains on Concordium to simplify transactions on the blockchain
Bictory Finance, a web3 software technology company, tackling safety & regulatory problems across chains in the DeFi & NFT space, has launched the Concordium Name Service (CNS), a wallet naming system that maps human-readable names to blockchain addresses for a more friendly on-chain experience.
The Concordium Name Service (CNS) enables users to mint blockchain domains to replace the lengthy string of alphanumeric characters, which serves as wallet addresses, with human-readable and memorizable names, like john.ccd. This allows to simplify transactions and dapp interactions by giving it human-friendly names.
CNS domains can also serve as a decentralized website domain name. The names on this service have the “.ccd” top-level domain derived from Concordium’s token ticker, and it supports single digit and character combinations, such as a.ccd or 0.ccd.
“The top level domain market (TLD), like .com and .io extensions, which are issued and controlled by a centralized authority is now being challenged by the open and free market of blockchain domains. For example, unlike TLD domains, a CNS user has full control over the domain, with all records live on the public ledger, and the ability to earn royalties from secondary sales,” says Joha Sulaymonov founder at Bictory.
Besides, the advanced CNS domains on Concordium enable a person’s unique ID to have an authentic, web3 identity, which could be the dominating factor when decentralized domains become widely adopted.
Registering a domain name on CNS attracts two fees; a yearly subscription fee and network fees. CNS domains start at $10 per year for a 6+ character domain. Domain names with fewer characters are priced higher in subscription fees, the priciest being a two characters domain which costs $150 per year. Single characters will be auctioned out. Mint one today at ccd.domains.
Magpie secures $3M in funding to enable seamless cross-chain swaps
The team at Magpie Protocol is pleased to announce that its $3-million Seed round has been completed. With Jump’s assistance, Magpie Protocol is poised for success and is additionally supported by notable investors, such as Sandeep Nailwal, GSR Markets, ParaFi Capital, Republic Capital, Big Brain Holdings, Serafund, Faculty Group, MH Ventures, D1 Ventures, ArkStream, Apollo Capital and more.
After seeing what Magpie Protocol is developing and offering to the crypto space, Jump Crypto — which looks for projects full of passion for decentralized finance (DeFi), focused on innovation and is full of engineers, investors and traders consumed by building the future of DeFi — made the decision to cement itself as the lead investor in the project.
“As the crypto infrastructure landscape expands multichain, Magpie’s cross-chain liquidity aggregation protocol and array of other cross-chain microservices offer the much-needed abstraction layer and seamless execution for the end-user.” — Saurabh Sharma, head of investments at Jump Crypto
Next is GSR Markets, which partners with brave and brilliant entrepreneurs who are building the future of ﬁnance. GSR works with cryptocurrency projects at crucial points in their life cycle, providing robust liquidity that helps enable their technology. Together, we’re going to change the landscape of DeFi and the global economy. We’re very excited to be supported by them.
“We’re excited to be working with the Magpie Protocol team as they continue expanding decentralized liquidity provision to clients through bridgeless, cross-chain liquidity aggregation.” — GSR Markets
Republic Capital selects investments based on business fundamentals with a focus on unit economics, strategy and the opportunity to disrupt a market. Everyone believes in Magpie Protocol to be a part of this changing of the future of DeFi and the global market.
“We are thrilled to be early backers of Magpie and its team. Interoperability is a key component of the crypto ecosystem, and we believe Magpie’s solution is one of the most elegant and easiest to use in the space.” — Republic Capital
Magpie Protocol is a decentralized liquidity aggregation protocol for cross-chain swaps aiming to provide the best deal on any asset across top blockchains without the need to bridge assets independently. Instead, our novel architecture uses bridges primarily as a data transfer layer to communicate swap signals between chains. The result is an extremely fast and secure solution to cross-chain swaps.
Bridge security concerns are at the forefront of DeFi at this time, being a crucial component in promoting the trustless and inclusive foundations upon which DeFi is built. Most bridges are custodial, meaning users must entrust their tokens with the security of the bridge by locking assets in a smart contract. This centralization of bridged assets creates single points of failure, which can put multiple ecosystems in danger if they are exploited. A recent report by Chainalysis, a blockchain data platform, estimates a total of $2 billion in cryptocurrency has been stolen from cross-chain bridges in 2022 alone. This goes to prove that creating a secure cross-chain bridge solution is a must in DeFi.
Magpie is a project that was incubated by Saxon, which helps idea-stage crypto entrepreneurs to launch game-changing DeFi and infrastructure projects. They provide holistic support, spanning from product market ﬁt and business development to tokenomics and fundraising.
“It’s been a pleasure working with Ali and the wider Magpie team to bring this disruptive approach to cross-chain swaps to market. With the launch of a new generation of L1s just around the corner, the timing could hardly be better.” — Ultan Miller, Saxon managing partner
Magpie’s architecture uses bridges to communicate swap signals between chains, without the need to lock, burn or mint assets on or within a bridge. By combining an off-chain liquidity network and bridge liquidity with a proprietary liquidity aggregation protocol, Magpie is chain-agnostic, meaning it is compatible and able to initiate swaps for the desired token on any chain, without limiting factors as other aggregation protocols, and whether or not the chain is Ethereum Virtual Machine-compatible or not. Not only does this result in near instant ﬁnality for users but it also enables Magpie to be fully noncustodial by keeping assets in control of the user rather than a third party or bridge, which greatly improves the security of users’ assets.
“I’d like to personally thank all of our investors and team members for your support in Magpie. We’re all incredibly proud of the work the team has done thus far, but it’s only the beginning. Now the work begins for the next round of funding as well as preparing to launch our private and public alpha testing events in the coming weeks. It has been an amazing journey so far, and we have a lot in store for us in the coming years.” — Ali Raheman, CEO and founder of Magpie Protocol
At the time of writing, Magpie Protocol is compatible with many established chains and DeFi protocols, including Ethereum, Polygon, Avalanche and BNB Chain. Additionally, we have announced plans to expand to Fantom, Solana and other blockchains in the near future.
On the back of this successful raise, Magpie Protocol will continue expanding strategic relationships and partnerships once its private alpha testing has concluded.
RFOX Launches the RFOX Metahack 2022, a Web 3.0 Hackathon Presented by Padang & Co
Metaverse company RFOX has introduced the RFOX Metahack 2022, a hackathon that will foster the development of creative Web 3.0 solutions to important challenges in the quest to shape the future of the Internet. Interested innovators can submit their applications to the hackathon on the RFOX Metahack 2022 website until September 30, 2022, at 11:59pm (GMT+8).
The RFOX Metahack 2022 aims to bring together innovative, talented individuals and teams who understand technologies like blockchain, crypto, and DeFi. The hackathon also serves as an avenue through which the RFOX ecosystem can help empower everyone to play, create, and earn in an immersive metaverse without borders.
The RFOX Metahack 2022 welcomes innovators to work with existing tools within the RFOX ecosystem and build new products and services to expand it. This virtual hackathon, presented by Padang & Co, and in partnership with AIKON, invites innovators to solve business problems and address new opportunities with the AI, blockchain, augmented reality, virtual reality, and Internet of Things spaces that can be incorporated into RFOX product roadmap.
Challenge Statements for RFOX Metahack 2022
There are six challenge statements featured in the RFOX Metahack 2022, representing the focus areas for innovation that hackathon participants can work on:
1. Mobile Games. Create mobile games – puzzles, arcade games, platformers, table-top games (checkers, chess, etc.) – implementing a play-to-earn mechanism using the blockchain and RFOX token.
2. Games SDK. Build a software development kit (SDK) that enables the creation of mobile games for players. Special consideration will be given for games that provide utility for KOGs NFTs (Keys to Other Games) and Choobs. KOGs can be represented in various ways: as cards, characters, miniatures, etc.
3. NFT Factory SDK. Create an NFT factory will enable anyone to create and share an NFT collection on a known marketplace.
4. RFOX Companion. Develop an RFOX mobile companion on Android or iOS. This app will be used by RFOX ID holders and will be a way to keep users connected to RFOX, anywhere and everywhere.
5. RFOX VALT (Metaverse) Connected Worlds SDK. Construct 3D worlds using the Unity Game Engine and demonstrate how to move resources between different 3D worlds.
6. RFOX VALT (Metaverse) SHOP Construction Set. build a user interface (UI) using the Unity Game Engine that will enable users to build their own shop. This shop will later be part of the RFOX VALT metaverse.
Prizes and Opportunities for RFOX Metahack 2022 Participants
Successful participants and teams in the hackathon will receive go-to-market support worth US$35,000 for their solution, a job opportunity with RFOX, revenue-sharing opportunities, NFTs, RFOX tokens, Oculus VR headsets, and more.
In addition, our hackathon official partner AIKON is sponsoring a giveaway of 50,000 ORE tokens and one year of ORE ID service free for the winners.
Ben Fairbank, Co-Founder and CEO of RFOX, said, “The launch of the RFOX Metahack 2022 is an important milestone for our team and a concrete step in our continuous mission to move the metaverse forward. We’re excited to work with promising tech builders during this event, and we look forward to empowering them in creating solutions and features that will enrich the RFOX ecosystem and the overall blockchain industry in general. We’re also happy to collaborate with Padang & Co on this game-changing event.”
“AIKON is thrilled to be the official partner of MetaHack 2022 – RFOX’s first hackathon,” said Marc Blinder, the CEO at AIKON and a core contributor to the ORE Blockchain. “We expect this partnership to drive and scale the AIKON developer community through co-hosting hackathons, bring more funding and technological resources to ORE decentralized funding programs for ORE devs, and ultimately accelerate ORE ID’s integration in the years to come.”
RFOX Metahack 2022 Events and How to Apply
The RFOX Metahack 2022 is divided into four parts:
1. Registration. The hackathon welcomes innovative individuals and teams to sign up for the event through this form.
2. Info Session. During this segment, RFOX introduces the hackathon’s overall program challenge statements to participants. Watch the info session here.
3. Virtual Hackathon. This segment includes technical workshops about the RFOX ecosystem, as well as mentoring and networking opportunities from key figures in the blockchain industry. After these sessions, hackathon participants are expected to submit their proposed projects.
4. Evaluation and Pitch. Following an evaluation process, a select few projects will qualify for Pitch Day, during which the qualifying teams will present their solutions before a panel of judges. Each participant that is shortlisted for Pitch Day will be given coaching and further advice before their presentations. At the end of Pitch Day, winning participants will be declared.
For more details about the RFOX Metahack 2022, please go to this website.
Shemaroo partners with Seracle for Web 3.0 Expansions
Shemaroo, one of India’s leading Media & Entertainment players with 60 years of enriching history has created another milestone by entering the Web 3.0 space in partnership with leading blockchain technology company Seracle, thus leading the Web 3.0 initiatives in the media and entertainment industry. The rising demand for enhanced user experience and increasing advancements in connectivity are the key factors driving Web 3.0 market revenue growth and with this new partnership, Shemaroo has taken giant strides to create a strong foundation.
Since its inception, Shemaroo has fostered a culture of innovation and technology that has enabled the brand to stay ahead and cater to the evolving needs of the consumers. Web3 technology is expanding at a breakneck speed and is going to favourably impact the entertainment sector as well. Seracle is a Web 3.0 full stack infrastructure company, building decentralized applications globally. With their enterprise blockchain expertise, Shemaroo will be unleashing the value of intellectual properties to democratize creativity, ownership, and applications in the new frontier using Blockchain technology.
Hiren Gada, CEO – Shemaroo Entertainment, said, “Web 3.0 provides limitless opportunities, especially for the entertainment industry. Shemaroo’s expansion into this space is a strategic decision and to be the innovator which will lead the transformation in the ever-evolving M&E industry. We are happy to partner with Seracle for our Web 3.0 expansions and keep the brand future-ready to capture this emerging space by creating a fresh alternative for our tech-savvy consumers.”
Rahul Mishra, Head – Web 3.0 Initiatives, Shemaroo Entertainment, commented, “With this partnership, we look at cementing our position as the chosen entertainment platform at the national and global level and extend the value-added experience for consumers in the Web3.0, NFT, and Metaverse. With evolved virtual-reality experience, we aim to connect the traditional fandom with the Web3.0 ecosystem and uncap the huge growth potential for the brand.”
Shrikant Bhalerao, CEO, Seracle, Web 3.0 Infrastructure, commented, “We are proud to partner with Shemaroo in realising their vision and business goals in the Web3.0 space. Web3.0, NFT, and Metaverse will open avenues for the entertainment sector – keeping up with the digital burst, elevating the individual experience in personalised entertainment content space. We are happy to be instrumental in levelling up the industry standards through this partnership.”
As per recently published data, the global Web 3.0 market size will reach USD 81.5 Billion in 2030 with a compound annual growth rate of 43.7%. Another research data predicts the NFT transaction will rise from 24 million in 2022 to 40 million by 2027, globally. Web 3.0 and Blockchain market is projected to add USD 1.1 Trillion to India’s GDP by 2032 and most certainly Media & entertainment industry will be a key player in driving this growth.
Free-to-Use Blockchain Koinos Reaches Major Milestone
Koinos, the first blockchain with the same free-to-use experience that originally allowed the internet to reach mass adoption, achieved a major milestone with the release of a feature complete testnet on August 23rd.
“The internet went mainstream because it was free-to-use. Koinos is the first and only blockchain to do the same thing. This is truly historical because there’s never been a blockchain anyone could just use without first having to buy tokens, and the performance so far has been spectacular,” said Andrew Levine, CEO and Co-Founder of Koinos Group.
Jesse “Aggroed” Reich, CEO and Co-Founder of Splinterlands, the top play-to-earn blockchain game, said “Koinos could be revolutionary for gaming because there are a lot of additional costs that come from building on a blockchain, like account and NFT creation costs, all of which Koinos will eliminate.”
Unlike Ethereum, Solana, and Polkadot, Koinos users don’t have to buy tokens to use the blockchain because KOIN (the currency of Koinos) contains “Mana” which gets spent instead of tokens. Unlike token fees (“gas”), Mana regenerates, allowing for indefinite free usage and it can be delegated to others for truly frictionless onboarding.
Splinterlands was originally built on Steem, the Koinos team’s previous blockchain, famously the victim of an exchange attack. That incident inspired the creation of Koinos and its novel consensus algorithm; proof-of-burn.
Steve Gerbino, Co-Founder and CTO of Koinos Group explained, “That’s what motivated me to create an alternative consensus algorithm. After discovering proof-of-burn as described by Iain Stewart, I knew we could use these concepts to implement an algorithm that’s more efficient than proof-of-stake and more decentralized than proof-of-work.”
Proof-of-burn has no wasteful hardware mining. Users simply destroy (“burn”) KOIN for “virtual hash power.” This doesn’t just make Koinos more efficient and environmentally-friendly, it means the token supply dynamically adjusts to network conditions. When there’s heavy usage, the token supply decreases to discourage overuse. When there’s low usage, the token supply increases to encourage participation.
The next milestone for Koinos is the ERC20 snapshot, followed by the fully decentralized launch of mainnet before year-end.
About Koinos Group
Koinos Group helps people build great Koinos applications. Book a free consultation at koinos.group. Learn more about Koinos at koinos.io
Quidd Launches Artist in Residence Program for the Public
New York, NY: Quidd, the digital collectibles and NFT marketplace of Animoca Brands, today announced the launch of its Artist in Residence Program, debuting with the world-famous and commercially successful artist Todd Goldman. The initiative, a first of its kind for Quidd, offers creative and strategic partnerships between Quidd and notable creators from both traditional and NFT media across a wide range of styles. Quidd Artists in Residence will partner on multiple exclusive projects, specifically structured for Quidd’s innovative gamification, unique Mintables technology, and audience of over 8 million collectors.
Since its founding, Quidd has collaborated with large, global media companies and brands like Disney, CBS Interactive, the Jim Henson Company, and others to bring digital collectibles and accessible NFTs to market through fun and rewarding collecting experiences. The Artist in Residence program expands on these celebrated launches by leveraging the creative powerhouses of these artists and building custom, collectible-focused drops that will be having increasingly large influences on how Quidd and the digital collectibles and NFT market evolve.
“The Artist in Residence program is one of the most important initiatives at Quidd, one that is going to have a profound impact on how the growing population of digital collectors finds and fall in love with new collections,” said Sam Barberie, VP of Content at Quidd. “Everyone has artists and creators that they love, but rarely do those artists get to be intimately involved in the future of platforms where they are. It’s as if YouTube creators got to help craft the future of YouTube, rather than being stuck as things change around them.”
Todd Goldman’s first collection on Quidd was an instant success, quickly selling out and setting a new standard for Quidd collections with unique, physical awards from creators.
“It made perfect sense to launch the AIR program with Todd,” said Barberie. “He’s a creative genius with an infinite number of ideas, and someone who truly gets the digital collectible and NFT market. He wants to push the envelope of what Quidd does.”
Goldman, in his usual fashion, quipped, “I am super excited to be working with Sam and his team as I’m a huge fan of Squid Games. I binge-watched the whole season in one day. I had no idea they did NFTs so I jumped at the opportunity to work with them. I love creating fun collectible characters and Quidd helps me reach an audience I’ve never had before. It’s a great match and I hope to be working together for years to come.”
Quidd will soon be announcing more artists joining the program. Artists wishing to get involved can apply at https://gleam.io/9rA94/quidd-artist-in-residence-sign-up
About Todd Goldman
Todd, like everyone else, had a childhood dream. His dream was to become a Brazilian Olympic figure skater. But unfortunately for Todd, he wasn’t Brazilian and didn’t know how to ice skate. That and Brazil didn’t even have an ice skating team. Sure Todd looked great in sequin tights, but he had to hang them up for the time being and find something else to do with his life.
But Todd always knew he was special. Not “wear a helmet and ride the short bust” special, just special in a unique kind of way. And that uniqueness was reflected in Todd’s humor and drawings. So that’s what Todd did, he became an artist. A different kind of artist…One that makes people laugh with his art. And believe it or not, people actually took a liking to it. So much that Todd’s art can be seen on all kinds of cool products. From t-shirts and mugs to pajamas and greeting cards, to pillows to tote bags, and soon-to-be NFTs.
In addition to merchandise, Todd’s paintings and prints are sold in art galleries all around the world. Plus, Todd has over 40 books published and several animated TV shows and movies in development. So as you can see Todd keeps himself busy. Sure, Todd sometimes ponders what his life could have been as a Brazilian figure skater…but honestly, he is quite happy making people laugh with his art. And yes, Todd still wears his sequin tights around the house.
Quidd, a subsidiary of Animoca Brands, is the original digital collectibles and NFT marketplace. Since 2016, Quidd has worked with the world’s most prominent brands, including Disney, HBO, Funko, and over 300 others, to bring fan-first collecting to digital and blockchain platforms. The Quidd marketplace is the most innovative, robust, and accessible platform for digital and NFT collecting experiences.
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise, Notre Game, and TinyTap. Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.
Quidd: [email protected]
Oases launches the mainnet of the NFT marketplace, with INO platform Seedpad coming soon
NFT marketplace Oases announced its mainnet launch on August 24, 2022. Oases is a non-custodial, on-chain NFT marketplace built on Ethereum that supports truly decentralized trading and facilitates the minting and trading of NFTs between creators and investors.
Oases v1.1 features the Advanced Trading Mode, allowing sellers to list their NFTs on Ethereum and buyers to trade directly by calling a smart contract, reflecting the decentralization spirit of the Web 3.0 space.
Oases v1.1 also guarantees Instant Royalty Payment. The customizable royalties from sales of NFT will be distributed via on-chain transfers immediately after a deal is executed. It also provides Batch Order Cancellation, allowing users to delist multiple NFT orders all in one transaction.
Democratized NFT experience
Oases is set to bring its main feature of Oases Seedpad to NFT projects and buyers shortly after its mainnet launch.
NFT creators issue more “tickets” than the number of NFTs in the collection. Users buy tickets, the platform initiates a decentralized draw, then some lucky user gets the NFTs while the others share the royalties from secondary market sales of the NFT collection. The winners can obtain expensive digital art with ultra-low cost, and the ones missing out can still get a proportion of the following royalties on this item, which, for all everyone, is a combination of fun and income opportunity.
The Seedpad feature is designed to solve the current issue around NFT drops. Setting an alarm for a flash sale usually involves a lot of gas war and disappointment; the whitelist selling mode, on the other hand, is constantly criticized for being centralized, without transparency.
What to expect
Among many plans on its roadmap, Oases is preparing an NFT deposit-to-earn feature which will allow users to gain passive income by depositing NFTs and farming rewards. To build its community, it provides a creator verification system to reward active creators with long-term incentives such as reduced fees and personalized service, etc.
To celebrate the mainnet launch, Oases is rolling out a one-month transaction fee & gas fee reimbursement event to thank early adopters. A weekly mission program is being implemented to give engaging users points in the form of Palm Coins, which could be exchanged for rewards and benefits or converted into native tokens in the future.The Oases genesis NFT collection, which features hundreds of hand-drawn animals, as disclosed on Oases Twitter, will be released after the mainnet launch with exclusive benefits for its holders being finalized.
TiFi Ranks Among Top BSC Projects as it Rounds Up its 3rd Quarter
TiFi is building an integrated finance ecosystem called TiFi Allverse, which includes a shopping & trading platform with NFT and TiFi Token, and a Decentralized Exchange System. The ecosystem has reached several milestones only a few months into its launch and has become one of the top projects on the BSC blockchain.
The two key factors behind its success have been the utilities the ecosystem provides through TiFi bank and the recent success of Allverse. The Allverse concept, introduced by TiFi, aims to connect the metaverse and the physical reality. It creates a seamless platform for trading goods between the virtual and physical worlds. Instead of having real-world things delivered to clients, the idea is that people can shop and trade products using NFT. Customers and suppliers will not have to put up the effort to touch and store the product and leave it with the vendor until they are ready. The whole process will be streamlined and automated, making it simpler, quicker, and safer for both customers and suppliers. Additionally, TiFi develops the infrastructure for dependable suppliers so they may safely store and transport the goods to customers.
Additionally, TiFi will interface with suppliers such as Apple, Tesla, and well-known premium brands. These businesses receive a large number of order requests, but their inventory of goods is insufficient. However, they can create NFT using our platform, which will act as a temporary virtual possession of the asset. Customers can exchange the item once it is available and then redeem it later. For instance, when gas prices rose, many consumers purchased Teslas, but there weren’t enough inventories to meet demand. In these situations, TiFi NFT can be utilised as a special digital asset to prove ownership of the physical asset without having to deliver it to clients.
Due to the enormous market demand, TiFi Allverse is a fantastic choice for products that are in short supply. The NFT itself has value and can be traded much more easily and quickly than the actual goods. It’s significant to note that ownership of an NFT corresponds to ownership of the actual product. The reliability of the vendors and the worth of the actual product support the NFTs’ ideals.
In addition to trading stimulation, TIFI provides an auto-burn mechanism and prizes for reflection. They will ensure that TIFI holders receive the most value and anti-inflation protection for their investments.
According to BscScan, TIFI presently has more than 57,000 holders, and CertiK audits it. The TiFi team intends to create an integrated finance ecosystem in addition to the TiFi Token and TiFi Shopping & Trading Platform. TiFi is a rapidly expanding initiative. A DEX (Decentralized Exchange) Platform is also a part of the ecosystem, allowing TIFI holders to exchange cryptocurrencies and earn more TIFI in one place.
TiFi Bank continues to see greater adoption and rightly so
The DEX (Decentralized Exchange) TiFi Bank operates on the Binance Smart Chain and offers competitive rates for trading tokens as well as greater incentive rates for liquidity providers. Swap and liquidity are the two key elements of the initial TiFi Bank release, which was on July 12. TiFi Bank charges switching costs when trading per pair at a rate of 0.20 percent, which is 20% cheaper than PancakeSwap.
All about the various utilities on TiFi
TiFi offers several exciting options to users, including a marketplace to purchase articles and real-world products using NFT and cryptocurrency. It will transform the whole shopping experience and enhance the reach.
TiFi Bank, one of the most anticipated projects in the ecosystem, allows TiFi token holders to stake, exchange, and earn their holdings, all of it through a single platform. Also, it has a dedicated platform to purchase, sell and trade NFTs.
The various subprojects in the TiFi ecosystem have helped the platform gain widespread adaptation and become one of the most preferred platforms. The ability to perform a plethora of actions, all in one place, is one of the key aspects behind the success of the project. Another critical aspect is the market-oriented tokenomics and the smart contracts employed by TiFi.
Besides, it has partnered with several popular and credible names in the industry, including Yahoo Finance, NewsWire, Gate.io, Obsidian, Vulcania, and Ivendpay, amongst others. If you haven’t yet, check out TiFi today and acquire the TiFi token!
To learn more about TiFi visit www.tifi.net
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