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Xcad Network secures $3,900,000 (£2,800,000) to enable mainstream YouTubers to be rewarded more through tokenization and NFTs

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10 May 2021. Xcad Network, the platform that provides people with the tools to become successful content creators across YouTube and other social media channels, is pleased to announce that it has raised $3,900,000 (£2,800,000) in a private round, led by blockchain technology and venture builder Zilliqa. Following high demand from investors that included venture capital firms LD Capital, Genesis Block Ventures and AU21 Capital, the funding was capped at a valuation of $20 million (£14.5 million). Funds were also raised by the DAO Maker launchpad where registrations for a single project reached a record high on the platform.

The capital will be used to build a DeFi plugin for YouTube, allowing content creators to tokenize themselves and earn rewards from their content, while also enabling viewers to earn rewards from watching videos and engaging with the content. A new NFT marketplace will also be built allowing content creators to make their own NFTs in one click, which can then be traded.

Oliver Bell, CEO and co-founder of Xcad Network, said of the new platform:

“The unprecedented interest from investors, YouTubers and our community shows that the Xcad Network will see considerable demand from content creators and viewers of content, as it monetizes people’s usage by rewarding their engagement.

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“This is an exciting step in Xcad’s journey to becoming an integral part of YouTube that will allow YouTubers to monetize their content above and beyond what they can already do. By creating an environment where both content creators and viewers can monetize their engagement, we expect to see an explosion of activity from both new aspiring YouTubers as well as established ones.”

What are the new enhancements to the platform?

The new enhancements will allow for greater engagement amongst YouTubers and their viewers, with the ability to monetize activity via a tokenized economy that rewards users for popular content and viewer loyalty. The YouTubers will become part of an ecosystem that will reward content creators according to various criteria such as subscriber size, views and watch time. NTFs will also become an integral part of the ecosystem, allowing users to create unique memorabilia that people can buy and trade amongst each other.

How does it work?

The Xcad Network technology will act as a plugin for YouTube users and monetization will be powered by the DeFi ecosystem’s XCAD token.

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The YouTubers

When a YouTuber joins the Xcad Network, which is achieved by applying to Xcad Network’s governance portal, a fixed amount of creator tokens will be minted and a portion of the tokens are assigned to the creator and vested until they hit performance milestones.

YouTubers will be able to track and analyze their token value at the website

https://influencermarketcap.com/.

Joel Morris, co-founder of Xcad Network and a YouTuber with over 2.5 million subscribers said:

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“As a YouTuber myself, I know how inconsistent monetization can be. Due to being at the mercy of advertisers and YouTube itself, earnings can dramatically change month on month. Xcad Network provides a clear roadmap and is something content creators can rely upon, providing their performance hits their milestones. The benefits to watch time and increasing engagement and loyalty of viewers, makes it a win-win for creators and viewers.”

The Viewers

A portion of these tokens can be earned by viewers by watching and engaging with content on YouTube, without any changes to their existing workflow. The tokens will be tradable for other YouTuber tokens and can also be used to buy and sell NFTs and merchandise, stake their rewards to earn more or convert them back to fiat currencies such as dollars, euros or pounds sterling. Token holders will also be empowered to vote on future content, video ideas and other key decisions involving a YouTuber’s channel.

A Unique NFT Marketplace of Creators

YouTubers will be able to create unique NFTs for users to buy and collect, which they can sell on to other users if they wish. The buying and selling of these NFTs will be possible in fiat currencies (dollar, euro, sterling) as well as cryptocurrency. Once the initial price is set by the creator, from then on the prices are determined purely by supply and demand. This marketplace will also allow creators to earn a passive income every time an NFT is traded.

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Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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