Blockchain
TourismX Has Started a Fund for Tourism Investments Worldwide
London, United Kingdom–(Newsfile Corp. – November 11, 2022) – London based World Tourism Forum Institute and WTFI (World Tourism Fund and Investment), one of the most prestigious global Tourism organizations, announced the release of its TourismX (TRMX) next generation digital tourism token that will bring traders even closer to their favorite brands of Tourism. For the first time, traders will be able to participate in a variety of sectors of the travel and tourist business, including private jets, restaurants, premium concierge services, and hotels with the most well-known brands, opening a new era of utility for digital tokens in the travel industry.
TourismX is a revolutionary idea for the rapid growing global Tourism Industry.
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The idea behind TourismX is to generate funds through TourismX Token Economics and then to invest these funds into carefully selected promising Tourism projects across the globe. A part of the profit (up to 50%) will be used to buy back TourismX tokens from the market to be locked in Treasury, decreasing the number of tokens in circulation.
“Every year, billions of dollars in tourism investment are being wasted due to uncompleted projects. Thousands more investors, however, are unable to secure suitable flexible funding for their projects. Working with premium tourist industry experts over the past 20 years has made us aware of the urgent need to match investors with the proper tourism initiatives while maintaining an investment strategy. Today’s technology enables us to bring together parties for everyone’s advantage. We think the global tourism investment paradigm will be revolutionized by TRMX Token and its innovative technologies,” said Mr Bulut Bağcı, President of World Tourism Forum Institute.
TourismX enables the Token Holder to benefit from several parts of the high growing Tourism Industry. It’s full operational excellence will be through global leaders of Hospitality Industry. Tourism Projects financed by TourismX will be executed in close collaboration with International Chain Brand Hotels. WTFI’s years of expertise and global network will be detrimental for successful businesses in hospitality, restaurant, private jet and luxury concierge industries.
Smart geographical disperse portfolio will ensure optimum allocation. Growth is expected to accelerate across all regions of Africa, Asia, Europe, and Americas supported by a recovery in tourism, expansion of hotel capacity and significant public investment in natural disaster-resilient infrastructure funded by local governments. In this context, World Tourism Forum Institute’s strong network and high-profile relationships in these regions offer multiple opportunities for local government-backed hotel investments. This sets WTFI Holding ahead of individual chains in terms of speed and consistency.
While any trader could buy stocks of individual Hotel Companies separately, TourismX offers to become a part of a well-balanced project portfolio of different hospitality brands in one basket. The portfolio approach increases the probability of success in case a certain chain under performs on a given year.
TourismX project assists the Tourism Industry, as it injects smart finance into projects where the classical financial instruments might be ineffective or expensive (collaterals, etc.). Institutional funding is getting harder due to inflation and total uncertainty in the World. Bank and financial interest rates are overwhelmingly high.
Hotel investors in USA, EU and in more developed parts of the World may still find funding the need. However, in the surging economies, it is harder for the hospitality and tourism investors to reach easy funding due to record high national debt levels, volatile foreign currency, and many reasons for uncertainty. TourismX provides hotel & hospitality industry investors with accessible funding.
TourismX unlocks a unique world of integrated dream experiences going far beyond the typical travel for tourists. The TourismX Community is constantly delighted with special moments, priorities, discounts, etc. Furthermore, TourismX is also planned to be used in commercial activities within the TourismX backed hotels as well as a wider global network.
Contact:
www.tourismx.io
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143976
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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