Blockchain
TRON 101 Project Kicks off with Bonus Pool Totalling $90 Million from APENFT Marketplace
Singapore, Singapore–(Newsfile Corp. – June 21, 2022) – The TRON 101 project is officially live, divided into two phases: project screening and project support, supported by a bonus pool totaling $90 million from APENFT Marketplace.
Tron
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In the screening phase, projects will be judged based on their level of completion, operational structure, and post-launch performance. Teams with high-quality coding standards that follow the latest industry trends will receive phased rewards. In the support phase, the platform will provide funding and increased exposure for winning projects based on their level of progress and the advantage they bring to the market.
TRON 101 is regarded as an upgrade and extension of the Developer Sprint. With this project, APENFT Marketplace seeks to identify developer teams with novel product design, outstanding operational capacities, and sophisticated engineering skills. All qualified teams will have access to continued financial support.
APENFT Marketplace, under APENFT Foundation, rolled out the Developer Sprint upon the launch of its TestNet in the hope of building a platform that encourages free creation for all developers while enabling every user to own their own NFTs. With a $2 million prize pool, the contest strives to help NFT developer teams build their projects from scratch.
Currently, over 100 teams have passed the review and were rewarded with support funds. APENFT Marketplace is now in the MainNet stage.
Since 2021, a wide array of NFT projects have been thrust into the public limelight. Represented by Cryptopunk, BAYC, Loot, and Phanta Bear, these projects are perfectly tailored to people’s needs in the new era by offering unique avatars and digital ownership.
The NFT market, which has benefited from access to high-quality platforms such as OpenSea, SuperRare, Rarible, and Nifty Gateway, also has some vulnerabilities. As the market sentiment grows, the NFT space is facing a dilemma where only a few developers truly create solutions with the end-user in mind.
With a solid community in the TRON ecosystem and the financial support from the TRON 101 project, APENFT Marketplace aims to become an NFT platform for the Web 3.0 era, incubate a new generation of phenomenal projects, and build a well-rounded NFT ecosystem. Meanwhile, to better serve users and create a more dynamic NFT market, the platform offers zero handling fees for projects deploying directly on the TRON blockchain, and zero transaction fees for those minting on the APENFT Marketplace, enabling everyone to own an NFT.
For more information about the program, please follow APENFT Marketplace on Twitter @apenftorg or join the APENFT community here.
About APENFT
Officially registered in Singapore on March 29, 2021, APENFT is backed by the underlying technology of the TRON blockchain, with additional support from the world’s largest distributed storage system BitTorrent File System (BTFS). At the core of our mission, APENFT aims to facilitate the creator economy while catalyzing both financial and cultural inclusion in the metaverse. Our vision is to integrate both the virtual and the real worlds seamlessly. APENFT Foundation is the world’s first NFT art foundation that realizes crossover purchases. We aim to bridge conversations between stakeholders in the traditional art world and the digital art community emerging around NFTs, promote inclusiveness and diversity, broaden our multimedia audience, and increase all members’ engagement. In the future, our collection will be made available to the entire community through a series of curated online exhibitions in the metaverse.
APENFT Marketplace | Twitter
Media Contact
Miles Wang
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128475
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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