Blockchain
Brandsmiths to provide one-stop-shop solution for cryptoasset recoveries
Innovative law firm confirms unique partnerships with leading blockchain investigations firm and technology and realisation specialist.
LONDON – London and Manchester-based law firm Brandsmiths, has created a brand-new service that seeks to radically transform the recovery of cryptoassets, following its landmark case, which confirmed the status of cryptoassets as property, and secured the UK’s first proprietary injunction over cryptocurrency. Combining investigations and asset tracing, litigation, realisation services and technology, the firm now seeks to deliver a one-stop-shop for recovering digital assets like cryptocurrencies and NFTs that is fresh for the market, founded on precedent-setting experience and know-how.
Brandsmiths has partnered with Chainalysis and Asset Reality to bring its solution to market. Chainalysis is the world’s most comprehensive cryptocurrency investigation and transaction monitoring solution. Their platform powers investigation, compliance, and risk management tools which have been used to solve some of the world’s most high- profile cyber criminal cases and grow consumer access to cryptocurrency safely.
Asset Reality joins the partnership, both in its capacity as an investigations advisory specialist and strategic cryptocurrency and complex assets custodian, managing and realising confiscated assets for public and private sector clients. Trusted by government agencies and insolvency practitioners around the world, Asset Reality deals with every category of digital and physical asset managing and recovery, management and sale on a client’s behalf.
Founder of Asset Reality, Aidan Larkin says “Cryptoassets present unique challenges when trying to recover and seize them and having an experienced network of professionals at each key stage of the process is vital. We are delighted to be working with partners who can deliver world class solutions to help victims and creditors recover their funds”.
These services will be combined with Brandsmiths’s unique litigation capability to provide a single access point for clients to trace and regain access their assets.
Founding Partner of Brandsmiths, Adam Morallee comments: “The general perception of crypto assets being harder to trace and recover than traditional currencies simply isn’t true. It’s our job to make that known and provide the solution.”
The need to develop the industry’s most efficient recovery is driven by unprecedented demand. The cost of ransomware is trending upwards at an exponential rate and global costs due to cyber attacks is estimated to reach £16bn this year, an increase from estimated damages of £8.2bn in 2019 and £5.5bn in 2018*.
Since its launch in 2014, Brandsmiths has helped a range of entrepreneurial free-thinkers, particularly leading digital platform businesses, make the most of their creative ideas and their most valuable assets. This new venture aims to protect those clients, and many others like them, helping them exercise their right to recovery in an area known for its opacity and complexity.
Cryptocurrency Expert and Brandsmiths Associate Matt Green concludes “From trading scams and hacks to ransomware and fraud, cybercrime can take many forms. The common misconception is that victims cannot recover cryptoassets because those committing the crimes are anonymous, and victims have to compile a fragmented team of individual experts to get consider their case. This partnership allows us to trace and identify illicit activity, then freeze and recover cryptoassets all under one roof. This simplifies the process and gives clients peace of mind, knowing a single, tried and tested team is pushing in one direction”.
* SOURCE: CYBERSECURITY VENTURES DATA // JAN 2021
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FOR MORE INFORMATION CONTACT
Jamie White at Overture London. T: +44(0)203 817 8383. E: [email protected]
NOTE TO EDITORS //
Founded by ex-Mishcon de Reya Partner Adam Morallee in 2014, Brandsmiths is the law firm for IP-rich businesses. It has developed a reputation for being a vital commercial advisor for entrepreneurial genius, but it is also increasingly recognised as the go-to team for established brands who value fresh thinking and a contemporary attitude. From offices in London and Manchester a dedicated team represent clients in a range of sectors, particularly platforms, ecommerce, sport, technology and FMCG. Clients include Microsoft, BMW, Trivago, Hunter, Mini, Umbro, Puregym, Missguided and a range of tomorrow’s major players. Brandsmiths is increasingly recognised as a leading firm in the creation, exploitation, extension and protection of value, and is naturally more agile and flexible than many of its larger rivals, with a culture and operating structure designed to allow the best and brightest lawyers to excel.
Source: RealWire
Exverse, a free-to-play game bringing a fresh take on AAA first-person-shooters to Web3, announces the launch of its native $EXVG token on ByBit, a top-three crypto exchange by volume with over 20 million users. The ByBit launch will be followed by spot listings on the MEXC and Gate exchanges. Ahead of its full alpha launch in mid-May, Exverse hosted a soft-launch tournament for 5,000 early registrees on April 15 with cash rewards for top performers.
During the last bull run, Web3 games rose to prominence under the play-to-earn mechanism that made games like “Axie Infinity” so popular. As this model became widely replicated, many of these blockchain-based games prioritized the crypto elements at the expense of the actual game aspects. This trend could be seen in practice by many titles opting to undergo a token launch before even having a working demo, disincentivizing developers to build a quality game, and leaving users with no ecosystem or functioning game to play and spend or the native currency in.
With Exverse approaching its full launch, players can earn $EXVG by performing well while using the native token to enter matches, purchase premium items, and more. The $EXVG token builds on Exverse’s extensive beta and serves as the ecosystem’s currency while the game’s community witnessed a 20 percent growth in verified signups within a month. Supporting Exverse in their token launch are prominent launchpads and incubators that include Seedify, ChainGPT, and GameFi.
To build momentum for its upcoming alpha launch in mid-May, Exverse showcased its game by holding an exclusive deathmatch-style tournament for 5,000 early wait listers on April 15. The five-day tournament, which took place on the game’s ‘Battle Planet,’ gives players a chance to demonstrate their skills and win rewards via stablecoins and tokens. With $50,000 in total up for grabs, the top 100 performers earned at least $200. Top five finishers earnings were dispersed accordingly:
1st place: $4,000
2nd place: $2,000
3rd place: $1,500
4th and 5th place: $1,000
Built using Epic’s Unreal Engine 5, Exverse utilizes blockchain technology to strike a balance between enjoyable, realistic, and immersive real-time gameplay. The game prioritizes skill over pay-2-win mechanics, enabling players to earn rewards by staking tokens before a season’s kickoff. Top performers receive a share of profits from in-game NFTs such as cosmetics and skins.
To support the ecosystem’s development, expansion, and growth while rewarding the team and its early supporters, 400 million $EXVG will be minted.
“We are extremely excited about our token launch and proud to work with a great partner like ByBit to make it happen,” says Fei Ooi Hoong, CEO of Exverse. “We worked tirelessly to develop a diverse, engaging, and intuitive first-person shooter capable of revolutionizing how the public views blockchain-based gaming. Our talented team tapped into its background in traditional gaming to develop a rich and immersive gaming experience and then strategically implemented the NFT elements and in-game economics to enhance the user experience.”
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According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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