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dTelecom joins the peaq ecosystem as a DePIN for Web3 video streaming

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peaq, the blockchain for DePIN and Machine RWAs, announces the expansion of its ecosystem as dTelecom, an innovative DePIN for audio and video conferencing and live streaming, joins to decentralize real-time communication. dTelecom will migrate to peaq to leverage it as its layer-1 backbone from the Arbitrum testnet, leveraging the peaq SDK and peaq IDs as part of its infrastructure. It will also deploy its core business logic on peaq and eventually launch its token on the network.

Video streaming has become a staple for the entertainment industry, with Netflix alone counting more than 260 million subscribers globally. The technology is also at the core of platforms such as Twitch, a popular live streaming platform, drawing in some 240 million people per month, and enables the ever-popular video meetings, from business discussions to family calls. With streamed video so central in our routines, it’s no wonder the market is expected to grow to almost $2.5 trillion by 2032. At the same time, though, its centralized nature creates a variety of issues, from centralized servers working as effective hacker honeypots to censorship and a lack of transparency.

dTelecom is building an alternative to centralized video and audio streaming protocols, putting the power back in the hands of the community. Its DePIN comprises community-operated nodes that enable decentralized distribution of live audio and video flows, working as a live-streaming and real-time communication layer for dApps and apps. The network powers a decentralized open-source Zoom-style video conferencing web app with rewards points for participation. Some of the other use cases it enables include a Web3 streaming platform and a voice chat for a play-to-earn game

As part of its integration with peaq, dTelecom will leverage peaq SDK, a versatile building kit for developers, to implement peaq IDs as the decentralized identities for network nodes and users. It will also migrate its smart contracts from the Arbitrum testnet to peaq, setting up a reward distribution mechanism on the network and enabling the nodes to migrate as well, while also onboarding for new nodes on peaq. Finally, it will run its Token Generation Event on peaq, launching natively on the layer-1 for DePINs.    

“We are changing the game for a whole variety of services and platforms that leverage audio and video streams with the DePIN model,” says Petr Malyukov, co-founder of dTelecom. “dTelecom can power anything from a Web3 Discord to a decentralized Netflix, and with peaq as its secure and scalable backbone, we are certain we can disrupt this billions-worth centralized market.”

“Live streaming is an exciting DePIN use case with a billions-worth potential market reach,” says Till Wendler, co-founder of peaq. “We are sure that dTelecom will create a lot of value as part of the peaq ecosystem and are looking forward to seeing it transform live-streaming as we know it.”

About peaq 

peaq is leading a global infrastructure revolution, empowering people to own and earn from mobility, energy, connectivity, environment, agriculture, and digital infrastructure. peaq is a layer-1 blockchain designed to be the go-to backbone for DePINs (real-world apps). It is home to more than 20 applications in 8 industries and to the 250,000+ devices, vehicles, machines and robots (Machine RWAs) that run on them. peaq serves as permissionless, borderless digital infrastructure for increasingly intelligent machines to serve all of humanity – the 100%, not just the 1% – democratizing abundance in the Age of AI and job automation.

For more information, visit peaq, follow peaq on Twitter/X for updates, and join the conversation on Discord.

The post dTelecom joins the peaq ecosystem as a DePIN for Web3 video streaming appeared first on HIPTHER Alerts.

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Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing

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Global Supply Chain Finance Market

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Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest

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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.

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ASIC cracks down on blockchain mining firms

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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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