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Blockchain Press Releases

Bybit and Oracle Red Bull Racing Ignite Excitement with Velocity Series 2.0: Unveiling Innovative Divisible, Data-Driven Art NFTs

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DUBAI, UAE, April 10, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, and Oracle Red Bull Racing (ORBR), the Formula One™ World Champions, are thrilled to announce the highly anticipated return of their groundbreaking NFT collaboration – Velocity Series 2.0.

Building on the phenomenal success of the inaugural series in 2023, Velocity Series 2.0 pushes the boundaries of digital art by introducing “Data Driven Art.” The new series embraces the fusion of art and racing, featuring unique digital art collections inspired by real-time data and the exhilarating achievements of the iconic RB20 F1 car. Meanwhile, in a bold industry move, Bybit Web3 and Oracle Red Bull Racing will launch fractional NFTs on the DN-404 (Divisible NFT-404) protocol for the first time this year.

The 2.0 Passes, mirroring the innovation of ORBR’s iconic cars, are set to elevate the experience to unprecedented heights. Not only will the Velocity Pass feature a thrilling new design, but an additional 1,000 passes will be introduced to the Velocity Series collection, culminating in a total supply of 2,000 passes.

Series 2.0 Pass Sale Details

The Series 2.0 Pass sale will begin on April 12, 2023, 2PM UTC, offering a wide array of exclusive benefits. 900 of the passes will be on sale this round:

  • Access to three exclusive NFT artwork drops by world-class artists in 2024
  • Access to token-gated activations and experiences related to the series.
  • Entry into raffles for real-life prizes

Velocity Series 1.0: A Resounding Commercial and Cultural Success

The 2023 Velocity Series proved to be a massive hit with fans and collectors worldwide, boasting remarkable performance in the secondary market:

  • Velocity Pass: Achieved highest secondary sale at 1.9 ETH, making a remarkable 6x increase from its initial selling price.
  • “///” by Snowfro: Experienced a staggering 35x price surge, with the highest secondary sale reaching 5.99 ETH.
  • “Trademark” by Jack Butcher: Witnessed a phenomenal 72x jump, with the highest secondary sale at a staggering 4.99 ETH.

On the other hand, the “Velocity Series” drops played a pivotal role in expanding this collector base, attracting fresh interest and enthusiasm to the world of digital collectibles. 92% of collectors for Erick Snowfro’s /// collection were new to his work, highlighting the series’ ability to engage audiences beyond traditional boundaries.

The above success underscores the significant value and appreciation for the artistry and exclusivity offered by this unique collaboration between Bybit Web3 and ORBR. This also highlights the series’ capacity to bridge the gap between the esteemed realm of Formula One™ and the burgeoning NFT space, nurturing a new generation of enthusiasts and collectors.

“At Bybit, we’re fueled by the energy of innovation, and together with Oracle Red Bull Racing, we’re excited to unleash Velocity Series 2.0!  This year’s collaboration takes digital art to a new level with ‘Data Driven Art,’ blurring the lines between racing and the NFT space. Velocity Series 2.0 welcomes everyone – existing fans and curious newcomers alike – to experience the power and potential of digital art powered by Bybit Web3,” said Ben Zhou, Co-founder and CEO of Bybit.

“The Velocity Pass allows fans to own a piece of the team’s legacy, reimagined through the lens of talented digital artists. After the fantastic response in 2023 to the collaboration with Bybit, we’re looking forward to connecting with our passionate fanbase in a new and exciting way once again,” added Oliver Hughes, Chief Marketing Officer at Oracle Red Bull Racing.

“Building on the success of the first Velocity Pass, we’re excited to push the boundaries of artistic expression even further. This series bridges the gap between artistic expression and the data-driven world of F1, offering fresh perspectives on the sport we love,” remarked Federica from AOI.

“DN-404 is proud to be the technological backbone of the Velocity Pass Series 2.0. Our secure and cost-efficient new protocol ensures a seamless experience for fans collecting these incredible pieces of digital art,” shared Pop Punk from DN-404.

For more information on Velocity Series 2.0 and to stay updated on the latest developments, please visit https://www.bybit.com/en/promo/nft-events/velocity-pass-V2.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 25 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

KuCoin Ventures Announces Strategic Investments in ELFi Protocol to Enhance Derivatives Trading Experience

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VICTORIA, Seychelles, May 20, 2024 /PRNewswire/ — KuCoin Ventures, the investment arm of the global cryptocurrency exchange KuCoin, has announced a strategic investment in ELFi, a cutting-edge decentralized derivatives trading platform. This collaboration marks a significant milestone in the evolution of the cryptocurrency derivatives market, emphasizing the strategic partnership between the two entities.

ELFi has been at the forefront of innovation in the decentralized finance (DeFi) space, offering a suite of advanced trading functionalities that cater to both retail and institutional investors. As a pioneer in supporting Portfolio Margin within the P2Pool model, ELFi has demonstrated its commitment to providing sophisticated risk management systems for listing contracts across various risk levels.

The strategic partnership between KuCoin Ventures and ELFi is expected to unlock new opportunities for both parties. Leveraging the industry insights of KuCoin Ventures, ELFi is set to achieve substantial growth. Conversely, ELFi’s innovative trading solutions will diversify services offered by KuCoin Ventures. Some of the key highlights of the partnership include: enhanced liquidity for ELFi, advancements in risk management for all participants and innovation in pool designs.

KuCoin Ventures is excited to partner with ELFi, a platform that shares our vision for a more open and accessible financial future. This investment is not just financial; it’s a strategic move to integrate ELFi’s innovative trading solutions into our ecosystem, providing our users with a superior trading experience.” Said Johnny Lyu, CEO of KuCoin Exchange.

KuCoin Ventures has been actively seeking out and investing in promising blockchain and cryptocurrency projects that align with its vision of a decentralized and inclusive financial ecosystem. The investment in ELFi is a testament to KuCoin’s commitment to supporting projects that bring transformative solutions to the market.

ABOUT KUCOIN VENTURES

KuCoin Ventures aims to invest in the most disruptive crypto and blockchain projects of the Web 3.0 era. As a community-friendly and research-driven investor, KuCoin Ventures works closely with portfolio projects throughout the entire life cycle, with a focus on DeFi, GameFi, and other Web3.0 infrastructures.

ABOUT ELFi Protocol

ELFi is a decentralized derivatives trading platform that focuses on delivering top-notch trading functionalities. It’s the pioneer in supporting Portfolio Margin within the P2Pool model, and boasts a sophisticated risk management system for listing contracts of various risk levels. Additionally, ELFi introduces innovative liquidity pool designs, offering industry-first zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools. It strives to better meet market and user demands through features like risk isolation, asset pricing, and LST asset support.

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Cision View original content:https://www.prnewswire.co.uk/news-releases/kucoin-ventures-announces-strategic-investments-in-elfi-protocol-to-enhance-derivatives-trading-experience-302149886.html

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Blockchain

Merging Traditions with Fintech and Blockchain Innovations

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Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations at MARE BALTICUM Gaming & TECH Summit

The financial industry is undergoing a seismic shift as fintech and blockchain technologies pave the way for unprecedented innovation and transformation. At the upcoming MARE BALTICUM Gaming & TECH Summit, a high-profile panel titled “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” will delve deep into this exciting evolution. This session will explore how established financial institutions are integrating these advanced technologies to revolutionize services, enhance security, and increase efficiency.

Moderator: Anna Agu

Leading the panel is Anna Agu, CEO and Managing Partner at Lex Law Office OU and Director at Lex Law Office LT UAB. With her extensive legal expertise in the fintech sector, Agu is perfectly positioned to guide the discussion, ensuring a thorough exploration of the delicate balance between maintaining traditional financial principles and embracing innovative technologies.

Panelists:

  • Merit Leib – Compliance Consultant at LEIB Regulatory & Compliance Risk Consulting
  • Astra Tikas – Founding Board Member of INO (Internet Native Organization)
  • Dr. Dean Rakic – Chief Scientist at Blockcontrol
  • Saulius Racevicius – Senior Associate of PSP Lab LLP and Board Member of the Fintech Hub LT
  • Evaldas Krampas – CEO at SpectroCoin and Head of Crypto Hub Lithuania

Why Attend?

The “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” panel at the MARE BALTICUM Gaming & TECH Summit is a must-attend for professionals across the financial sector. Here’s why:

  1. Gain Comprehensive Insights: Learn from top experts about the latest trends, challenges, and opportunities in fintech and blockchain.
  2. Regulatory Perspectives: Understand the importance of compliance and how to navigate regulatory challenges effectively.
  3. Technical Knowledge: Dive deep into the technical aspects of blockchain integration and learn about cutting-edge developments.
  4. Practical Implementation: Gain practical insights into how traditional financial institutions are successfully integrating new technologies.
  5. Networking Opportunities: Connect with industry leaders and peers who are driving innovation in finance.

Join Us

This panel provides a unique opportunity to stay ahead of the curve in the rapidly evolving financial landscape. Join us at the MARE BALTICUM Gaming & TECH Summit to explore how fintech and blockchain technologies are reshaping finance and what it means for the future. Engage with industry leaders, gain actionable insights, and network with peers at the forefront of financial innovation.

Secure your spot today and be part of this transformational journey. Don’t miss the chance to be involved in discussions that will shape the future of finance. See you at the MARE BALTICUM Gaming & TECH Summit!

The post Merging Traditions with Fintech and Blockchain Innovations appeared first on HIPTHER Alerts.

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Blockchain

DTCC partners with Chainlink and JPMorgan to pilot blockchain integration for fund data

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As headlines spotlight spot Bitcoin (BTC) exchange-traded fund (ETF) flows and institutions revealing their exposure to BTC ETFs, financial service infrastructure providers are quietly integrating blockchain technology into their systems.

According to a recent report from the Depository Trust & Clearing Corporation (DTCC), the firm conducted a pilot program named Smart NAV in collaboration with Chainlink (LINK). This initiative aimed to extend the capabilities of DTCC’s Mutual Fund Profile Service I (MFPS I), the industry standard for transmitting ‘Price and Rate’ data, also known as ‘NAV data.’

DTCC’s Mutual Fund Services business currently operates MFPS I, offering fund companies an automated solution to deliver prices and daily distribution rates to numerous clients for tens of thousands of mutual fund securities. Traditionally, DTCC collects price and rate data from funds/service providers and distributors, then aggregates and disseminates it at regular intervals through its message queue (MQ) and file-based methods.

The Smart NAV Pilot served as a digital extension of the existing MFPS I service, aiming to broaden and complement its current capabilities. DTCC recognized the growing interest in mutual fund tokenization and saw an opportunity for on-chain price and rate data to facilitate new initiatives. Taking a ‘chain-agnostic’ approach, meaning the ability to disseminate NAV data across virtually any blockchain, was crucial for enabling other use cases to build upon Smart NAV’s foundations.

Ten market participants, including major names like American Century Investments, BNY Mellon, and JP Morgan, collaborated with DTCC and Chainlink on the pilot. They evaluated the feasibility and industry value of implementing a distributed ledger technology (DLT)-based price and rate dissemination solution to unlock new benefits and support experimentation in the asset management space.

The pilot results demonstrated that delivering structured data on-chain and establishing standard roles and processes enabled foundational data to be integrated into various on-chain use cases, such as tokenized funds and bulk consumer smart contracts. This capability can fuel future industry exploration and empower numerous downstream use cases, including brokerage portfolio applications.

The simplest application of Smart NAV is to provide trusted, verifiable data on virtually any blockchain network to support its use in business workflows. During the pilot, DTCC acted as both the provider and governor of the on-chain data solution, while Chainlink’s CCIP served as the interoperability layer. The core capability explored is adaptable across a wide range of use cases, potentially enhancing operational efficiency and streamlining processes.

Based on the positive findings, DTCC sees an opportunity to expand the scope of the pilot to explore broader use cases beyond price and rate data dissemination and across more blockchains.

Source: kitco.com

The post DTCC partners with Chainlink and JPMorgan to pilot blockchain integration for fund data appeared first on HIPTHER Alerts.

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