Blockchain
Project Verte Launches MyVerte Marketplace on the Blockchain as an Alternative to Massive E-Commerce Platforms
Project Verte, a comprehensive e-commerce solution for Direct-to-Consumer (D2C) brands, today announced the beta rollout of its brand-first marketplace MyVerte. The MyVerte marketplace built on the blockchain is launching with over 100 brands and will announce a “drop” featuring new brands weekly, starting with Foreo, Stryx, Temporary Forevers, Les Belles Heures, Birthstone Scents, Ujjayi, Unbound and La Luna Rose.
Project Verte, which raised $50 million in seed funding late last year, was founded with a mission to help brands remain in full control over how their brand identity, products and communications are presented to consumers. Utilizing blockchain, Project Verte delivers on its mission through its full circle solution, featuring an easy-to-use seller portal that integrates all existing workflows, fully automated fulfillment, access to business intelligence, inventory financing and more, ultimately providing brands with the tools to maintain full control over their brand without the need of multiple third parties.
“It became clear that current marketplaces we’re designed around the branding of the marketplace, not of the brands themselves,” said Julian Kahlon, the 26 year old founder and CEO of Project Verte, who made that realization while leading UX communications and rebrands for large brands like Haagen-Dazs and ADP while also consulting for other notable D2C brands. “Existing marketplace’s messaging constantly overshadow its participating brand’s messaging, perception, equity and overall identity. Our goal in founding Project Verte was to give D2C brands the ability to reclaim control, and get the optimization and insights that they need to grow their businesses, increase their bottom line, while at the same time staying true to their core values.”
MyVerte, connected with Project Verte’s state-of-the-art fulfillment and technology (Its first 750,000 square foot automated fulfillment center is located in Atlanta, GA) processes orders at unprecedented speeds — no longer than 2 hours from dock-to-stock – while also using machine learning and AI to predict order influx and the pairing of items per order. As Kahlon says, the fulfillment centers are built for Black Friday every day. The operations and fulfillment side is the first and most fundamental step that allows brands to focus on growing their businesses, developing new products, forging strategic partnerships and expanding into new markets.
The MyVerte marketplace provides never-before-seen data to provide greater transparency, efficiency and participation for brands and consumers alike. Leveraging this data, the company has launched a number of new products that look to change the typical online marketplace experience. This includes an Uber-style ratings feature in that brands aren’t the only parties that get ratings. As part of this, for example, brands will be able to identify serial returners (those who buy and return online goods at an alarming rate that ends up costing brands money, time and headache) and simply not display products to consumers with a particular rating or below.
For Kahlon, a sale on a brand’s dot com is just as, if not more, valuable as a sale on MyVerte, because he understands that, for a brand to truly communicate the way they want to, their story and freedom to innovate needs to be prioritized over the operational backend. That’s why Project Verte built MyVerte to run parallel to a brand’s own — to simplify the workflow.
With the funding announcement late last year, Project Verte announced strategic relationships with fulfillment and automation technology companies, Geodis and GreyOrange. Since then, the company has continued to grow and attract leaders in the space, including its Chief Operating Officer Lihi Lutan, former Vice President of Professional Services at Taboola, and its Executive Vice President of Business Development Yifat Baror, former Head of International Business for Zulily. It is also growing its network of fulfillment centers with planned facilities in Dallas, Los Angeles, and other major cities nationally.
SOURCE Project Verte
Blockchain
P2 Ventures Commits $50M Via Hadron FC to Startup Founders in Polygon Ecosystem
Last year, P2 Ventures emerged as a distinct entity from Polygon Labs, with a focus on blockchain investments. Now, it’s earmarking funds and providing mentorship to bolster project founders, particularly those concentrated on the Polygon blockchain ecosystem. A contributor from Hadron FC remarked that the community offered the perfect blend of “capital and vibes.”
P2 Ventures, a venture capital firm with a blockchain emphasis, was established late last year as a separate entity from developer Polygon Labs. It has pledged $50 million to support startup founders, potentially igniting fresh initiatives within the Polygon ecosystem.
The investment from P2 Ventures will be channeled to founders via Hadron FC, a program tailored for founders with hubs in Dubai and New York, according to a press release. This program encompasses mentorship, legal and regulatory guidance, networking opportunities, and “comprehensive assistance in navigating the complexities of startup development and fundraising,” the release stated. Among the initial 36 projects onboarded, several participated in a week of collaborative efforts at the Dubai facility. Shreyansh Singh, head of investments at P2 Ventures, expressed confidence in Hadron Club’s unparalleled capacity to nurture the aspirations of forward-thinking founders within the Polygon ecosystem.
Ajit Tripathi, a core contributor at Hadron FC, noted that the community provided the ideal mix of “support, capital, and ambiance.”
Initially part of Polygon Labs, the principal developer of various Polygon layer-2 networks built on Ethereum, P2 Ventures transitioned into an independent unit with its own 10-person team late last year, rebranding itself as P2 Ventures.
Source: coindesk.com
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Blockchain
Blockchain sleuth uncovers identity of PrismaFi’s hacker, who stole $11m
Blockchain investigator ZachXBT uncovered the purported perpetrator behind the PrismaFi breach, which resulted in the protocol losing $11.1 million worth of cryptocurrency. Through a series of posts, ZachXBT disclosed that the individual behind the attack, identified as 0x77 (or Trung), may be connected to several other breaches.
The Prisma team initially detected a sequence of transactions on the MigrateTroveZap contract in March, ultimately resulting in a loss of 3,257 ETH (equivalent to $11.1 million at the time). Initially, the attacker communicated with the Prisma deployer, claiming the attack was a white-hat initiative. However, all funds were subsequently transferred to Tornado Cash, a sanctioned cryptocurrency mixer.
The attacker then made audacious demands, including a $3.8 million (34%) white-hat bounty, significantly higher than the industry standard of 10%, as noted by ZachXBT, who highlighted that this demand was essentially extortion, given the insufficient assets in the treasury to reimburse users.
Further investigation revealed that the attacker’s address received funds via FixedFloat and was subsequently traced to Arbitrum, a layer-2 solution on Ethereum. By analyzing timing, ZachXBT determined that the attacker’s address was linked to withdrawals on TRON, including those from the Bybit cryptocurrency exchange.
The investigation also unveiled connections to prior breaches, such as the Arcade_xyz breach from March 2023 and the Pine Protocol breach from February of the current year. The attacker, utilizing the alias 0x77 on Telegram, remained active and had ties to the deployer of @modulusprotocol, further solidifying the connection between each incident.
Furthermore, the investigator disclosed conducting an analysis of the attacker’s personal information, including phone numbers and emails, which indicated a proficient technical background. All collected personal data has been forwarded to the Prisma team, who are pursuing legal action against the hacker in Vietnam and Australia, ZachXBT added.
Source: crypto.news
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Blockchain
Bybit CEO: “Institutions Driving Today’s Crypto Bull Market” – At Blockchain Life 2024 Dubai
During a discussion among industry leaders at the Blockchain Life conference in Dubai, Bybit CEO Ben Zhou emphasized the preparedness and sophistication of contemporary cryptocurrency exchanges (CEXs). Zhou, who co-founded Bybit in 2018, now stands at the helm of one of the world’s top three exchanges by trading volume.
At the event, Zhou shed light on various facets that underscore the current era of crypto maturity. “From Bybit’s standpoint, this ongoing bull market has been primarily propelled by institutional involvement… Our collaboration with third-party custodians like Copper and Fireblocks led to a 186% increase in institutional capital flows last year,” Zhou noted. He highlighted the pivotal role of enhanced infrastructure and the approval of Bitcoin spot ETFs in facilitating institutional participation in the crypto market.
Zhou has overseen meticulous upgrades to Bybit since the previous crypto bull run in 2021, enabling institutional investors to deploy larger capital pools. “Bybit boasts a highly versatile trading system that accommodates trading of any token against any other,” Zhou remarked during his live address on the main stage. “This affords our institutional clients a plethora of tools, enabling them to engage in spread trades, arbitrage funding rates, and various sophisticated trading strategies. This capability has facilitated the influx of new capital into the crypto space.”
Furthermore, Zhou highlighted the evolution of service reliability amidst market volatility. “Our risk management and system resilience have undergone continuous enhancements,” he affirmed. “Even during turbulent market conditions, Bybit maintains its stability.” This stability serves as a testament to the advanced infrastructure supporting both institutional investors and the exchange’s 25 million retail users.
Zhou also emphasized Bybit’s efforts to empower retail clients with access to products that simplify sophisticated trading strategies. “We offer a unique product known as perpetual protect, which utilizes options contracts to safeguard perpetual positions from losses,” Zhou explained. “Additionally, our advanced Unified Trading Account (UTA) design provides traders with a competitive edge in the market.” These initiatives aim to demystify derivatives and options, making complex financial instruments more accessible and comprehensible to a broader audience.
As the crypto market continues to mature, Bybit remains at the forefront, spearheading innovations that align with evolving market trends and regulatory standards. This proactive stance not only signifies a significant milestone for Bybit but also underscores the overall advancement of the crypto exchange industry.
Source: prnewswire.com
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