Blockchain Press Releases
Wellness NFT YogaPetz Sells Out in Less Than 45 Minutes with a Value Close to $3 Million
HONG KONG, Oct. 6, 2023 /PRNewswire/ — Yogapetz is thrilled to announce the remarkable success of their latest release, the Wellness NFT YogaPetz collection, which experienced an astounding 130% over-subscription rate. Within a mere 45 minutes, the entire 10,000-piece collection was completely sold out, generating an impressive sum of 1,761 ETH, equivalent to approximately USD 3 million in sales.
This groundbreaking achievement occurred on August 31, 2023, despite the challenging market environment for NFTs during the prevailing winter season, characterized by a downturn in market capitalization and low investor sentiment. The resounding success of the YogaPetz collection serves as a testament to its unique value proposition and the growing demand for wellness-focused NFTs.
Overwhelming Response Demonstrates Growing Demand for Wellness NFTs
“We are overwhelmed by the incredible response to the YogaPetz collection,” said @keung , Co-founder of YogaPetz. “The rapid sell-out and the substantial value generated demonstrate the strong appetite for wellness-themed NFTs in the market. Our collaboration is driven by the shared goal of providing rewards and incentives that promote mental and physical well-being to our thriving online community of over 220,000 members.”
YogaPetz is a decentralized wellness ecosystem that prioritizes mindfulness, community, and rewards, aiming to provide users with a secure, transparent, and decentralized platform that nurtures mental and physical well-being. Utilizing the $PRANA token in conjunction with a mobile application, users are incentivized for practicing and maintaining healthy mind and body habits (Relax – Rewards – Retreat – Repeat). The success of the YogaPetz collection has paved the way for exciting developments and partnerships within the wellness ecosystem.
Experienced Co-founders Driving YogaPetz to Success
The YogaPetz project is led by co-founders @keung (Kam-Keung FUNG) and @Kakarot_F23 (Kin-Fung MAN), who collectively bring over twenty years of entrepreneurial and operational experience to the table. Their diverse backgrounds and expertise form a solid foundation for the success of YogaPetz.
@keung, the founder and CEO of Awesapp Limited, boasts an impressive track record in creating and managing mobile applications. His keen understanding of the market, honed through years of street-smart experience, has equipped him with invaluable insights into the competitive NFT landscape. Leveraging his expertise, @keung has provided strategic counsel to prominent NFT projects such as 9GAG (Memeland) and OliveX.
Notably, the Memeland project achieved a remarkable feat by selling out 10,000 NFTs within a mere 12 minutes, generating team revenues of 9,801 ETH, equivalent to millions of dollars. Similarly, OliveX launched 420 Genesis NFTs earlier this year, and all were quickly sold out, raising 2,100 ETH, valued at over three million dollars. These successes underscore @keung’s astute market sense and his ability to navigate the evolving NFT landscape.
While the government of Hong Kong promotes the development of web3 with uncertain prospects, it is noteworthy that these three Hong Kong startups have gained international recognition in the web3 field.
@keung: Web3 Drives Innovation and Success through Collective Wisdom
@keung acknowledges the doubts surrounding web3 and NFT products, but he remains steadfast in his belief in their potential to achieve outcomes that traditional internet products simply cannot. He explains, “In the pre-web3 era, teams had to invest significant time and effort in marketing to reach the right users. However, web3 projects operate differently. By cultivating a community, word-of-mouth naturally spreads, enabling more effective global user connections.”
In addition to the advantages of community participation in web3 and NFT projects, @keung emphasizes their potential as avenues for both fundraising and talent aggregation. These projects can secure funding through the community and attract exceptional talents who bring ideas, brainstorming capabilities, and valuable contributions to project management. This collaborative approach empowers web3 projects to harness the collective wisdom and expertise of their communities, driving innovation and success.
@Kakarot_F23‘s Journey Of Battling Cancer and Starting YogaPetz
@Kakarot_F23, another co-founder of YogaPetz, has a deeply personal connection to the project. Having been diagnosed with nasopharyngeal cancer at the end of 2019, he underwent grueling chemotherapy and radiation therapy. Throughout this challenging journey, @Kakarot_F23 experienced significant physical and mental hurdles, including the hardships of depression. However, with the unwavering support of the cancer community, he managed to rebuild his confidence and rekindle hope.
Inspired by his battle with cancer, @Kakarot_F23 was driven to establish YogaPetz as a platform that goes beyond traditional NFT offerings. Drawing from his fine arts background and graduating from the University of the Arts London (previously known as Central Saint Martins), @Kakarot_F23 recognizes the immense market potential of wellness-focused NFT communities. He firmly believes that NFT communities centered around wellness can bringabout positive change and growth.
The collaboration between @keung and @Kakarot_F23 is marked by seamless synergy. They jointly manage the YogaPetz community, leveraging @Kakarot_F23‘s creative arts expertise and @keung’s technical acumen. Their shared vision and complementary skills create a robust foundation for YogaPetz’s success in the competitive NFT market.
About YogaPetz
YogaPetz is a decentralized wellness ecosystem that places a strong emphasis on mindfulness, community, and rewards. Our primary objective is to offer users a secure, transparent, and decentralized platform that fosters mental and physical well-being. Even individuals who do not hold the YogaPetz NFT are encouraged to explore and participate in the platform. They can begin their wellness journey, establish their own wellness businesses, redeem retreats with our partners using $PRANA, and cultivate healthy habits through repetition.
For more detailed information:
https://yogapetz.com/
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Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act of 2023, a controversial bill he initially co-sponsored with Senator Elizabeth Warren and others. This bill, reintroduced in the Senate on July 27, 2023, aimed to bring the cryptocurrency industry into alignment with existing anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Key Provisions of the Bill
The legislation proposed stringent regulations on digital asset providers, including unhosted wallet providers, miners, and validators, by classifying them as financial institutions under the Bank Secrecy Act (BSA). It mandated these entities to adhere to BSA compliance requirements, which include extensive reporting and monitoring responsibilities. Additionally, the bill called for the Financial Crimes Enforcement Network (FinCEN) to establish regulations for reporting significant foreign digital asset holdings and to create compliance measures to address risks associated with anonymity-enhancing technologies.
Senator Marshall’s Shift
Marshall’s withdrawal from the bill comes as a surprise, particularly given his earlier criticisms of cryptocurrencies, which he has described as a “threat to national security.” This includes concerns over stablecoins like Tether potentially facilitating illegal activities and circumventing U.S. sanctions. Despite his earlier stance, Marshall’s departure from the legislation suggests a reconsideration of the bill’s implications or an alignment with broader political and industry perspectives on cryptocurrency regulation. His office has not provided a comment on the reasons for his withdrawal.
Political and Industry Reactions
The bill had garnered significant bipartisan support, with 18 co-sponsors, reflecting a broader concern in Congress over regulating the rapidly growing cryptocurrency market. However, it has also faced criticism for potentially imposing impractical compliance burdens that could stifle innovation and push crypto activities offshore. Critics argue that the bill’s stringent requirements could inadvertently drive users toward unregulated platforms, thereby undermining its intent to enhance security and regulatory oversight.
Broader Context
The withdrawal comes at a time when cryptocurrency regulation is a highly contentious issue in U.S. politics. Former President Donald Trump has promised to relax crypto regulations if elected, contrasting with the current administration’s more stringent stance. Under President Joe Biden, the Securities and Exchange Commission (SEC) and other regulatory bodies, led by figures like Gary Gensler, have taken a more rigorous approach to regulating the sector, which has drawn criticism for being overly restrictive.
Senator Marshall’s decision to step back from the Digital Asset Anti-Money Laundering Act reflects the complex and evolving nature of cryptocurrency regulation in the U.S. While the bill seeks to bring greater oversight and security to the crypto industry, it also raises concerns about regulatory overreach and its potential negative impact on innovation and privacy. As the debate continues, the U.S. legislative and regulatory landscape for cryptocurrencies remains in flux, balancing the need for security with the desire to foster technological innovation.
Source: decrypt.co
The post Marshall Becomes First US Senator to Walk from Controversial Crypto Bill He Co-Sponsored appeared first on HIPTHER Alerts.
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