Blockchain
Xcad Network secures $3,900,000 (£2,800,000) to enable mainstream YouTubers to be rewarded more through tokenization and NFTs
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.
“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.
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:
“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.
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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