Blockchain
Telegram Launches Gifts Feature with NFT and Blockchain Support
Telegram’s new feature, Gifts, allows users to send animated virtual gifts, which can be displayed on profiles or sold for Stars, an in-app currency. What makes this feature notable is its integration with blockchain technology. Telegram CEO Pavel Durov announced that users would soon be able to convert limited-edition gifts into NFTs on the TON blockchain, making them tradable assets outside the app.
The feature, launched on October 5, has sparked interest due to its potential for collectability and monetization. As part of Telegram’s growing in-app economy, these gifts, once converted into NFTs, can be traded or auctioned, creating a secondary market and boosting their value based on rarity. The NFT conversion tool will be available later in the year.
This development highlights Telegram’s ongoing efforts to integrate blockchain into its platform, positioning it as a leader in social media blockchain adoption. Despite the broader NFT market downturn, this innovation could potentially reignite interest in digital asset trading.
Meanwhile, Toncoin, the native token of the TON blockchain, has seen a rise, currently trading at around $5.35, with a 20% increase in daily trading volume to $177.43 million. Additionally, Toncoin’s Earn Quest Notcoin program is offering participants a share of $40,000 in rewards through The Open League Quest, aiming to engage the crypto community further.
Source: crypto-news-flash.com
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Blockchain
DNA Fund Acquires Coral Capital; Adds $50M AUM in Web3 & Emerging Tech
2024-DNA Fund, the Financial Institution of the future in high-ticket emerging tech and web3 investments, has announced its acquisition of Coral Capital Holdings LLC, an established investment management firm that has previously managed millions in the DNA founders’ personal funds.
As early-stage investors in established Web3 brands and founders of some of the sector’s most notable projects, DNA and its founders have invested in or founded projects such as Tether, EOS, Mastercoin, Bancor, and Hedera Hashgraph. The acquisition will see the DNA Fund manage an additional AUM of over $50 million, which includes Coral’s high-yielde hedge funds and venture funds focused on DeFi, Al, blockchain, and other emerging technology sectors. Some of Coral’s top-performing investments include Near Protocol and Atmos Labs.
Thomas L. McLaughlin, Coral’s Chief Investment Officer, will continue in his role, managing the funds with a unique focus and strategy aimed at maximizing investor returns.
Regarding the acquisition, Christopher Miglino, CEO of DNA Fund, said. “By bringing Coral Capital under our umbrella, we are not only expanding our investment capabilities but also enhancing our ability to offer unique, high-growth opportunities to our clients. Our combined expertise allows us to navigate the complexities of the digital asset landscape and continue delivering value to our investors.”
Thomas L. McLaughlin, CIO of Coral Capital Holdings, added, “Joining forces with DNA Fund is an exciting new chapter for Coral. Our shared vision for leveraging technology to drive financial growth is perfectly aligned. Together, we are set to redefine what’s possible in digital asset investments and deliver superior results for our investors.”
Since its inception in 2021, Coral has delivered consistent returns with innovative strategies, delivering high multiples on the benchmark of the overall market cap of digital assets. Coral’s Flagship fund, initially started as a market-neutral vehicle, was rebranded in 2023 as a discretionary liquid token, surviving a number of high-volatility events, including FTX and Terra.
With a 61.6% return (net of fees) and a maximum annual drawdown of only 11.6% in FY 2022. these funds have outperformed the broader digital asset market. Over a similar period, Bitcoin returned 36.7%.
Through this acquisition, DNA Fund also aims to capitalize on the growing interest from institutional investors and expand into several new verticals over the coming year, including a Bitcoin & Ether Yield Fund, as well as more speculative funds focused on Al, memecoins and microcaps.
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