Blockchain
While you were asleep: Australian start up makes $2.5 million in 6 seconds on IDO
A crypto platform Crypto Gaming United (CGU), which has joined the Australian crypto exchange TimeX on the 18th of October, made $2.5 million in a record-breaking six seconds since public token trading began. One of the co-founders of the project is a crypto-currency, DeFi and blockchain app entrepreneur Sergei Sergienko born in Russia.
CGU operates on the principles of uber-economy. Gamers don’t need to spend money on the initial purchase of NFT-characters. The platform rents them out to players in exchange for a share of their daily income. Meanwhile the games themselves reward players with income proportionate to their in-game skill and performance.
The open market sale of GCU’s tokens became the third and final investment round. For context, previously the seed and pre-IDO rounds had ended at $5 million and $10 million respectively. The tokens released during these rounds have a blocking period with a 3 year rights transfer schedule. This means that CGU’s tokens are now only available on the secondary market.
There were 10 million the GCU tokens available for sale in total, at the price of $0.25 each. In 6 seconds after the market opened, all tokens had been bought out.
“Success of every project is always measured by the market. We never expected the demand to be high enough to sell all the tokens in under 6 seconds. This makes it even more pleasant to realize the importance of the gaming crypto platform CGU to the market, and to feel the support coming from the project’s community” – the co-founder of the project Sergei Sergienko notes.
The next step for CGU according to Sergei is committing to the plan publicized in the token’s emission prospect – the company intends to increase the number of active players on the platform to a hundred thousand in the nearest future. The gathered funds will also be used for creation and development of CGU and DAO communities for the project.
Overall, Crypto Gaming United attracted $17.5 million during the 3 investment rounds. The total volume of CGU’s emission is 1 billion tokens, 26% of which belong to investors.
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Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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