Blockchain
Motorverse launches motorsport avatar NFT collection “Torque Squad”
Motorverse Corporation, a subsidiary of Animoca Brands, has announced the launch of Torque Squad – a collection of 8,888 racing avatar NFTs called “Torqies”. The first Torqie presale starts on 2 April 2022; for more information see https://www.torquesquad.io/.
Torqie NFTs are generated with individually styled details and intricate hand-drawn artwork to delight motorsport enthusiasts. These Torqies will act as the entry point to the Motorverse ecosystem, which is partnered with the REVV Motorsport ecosystem.
The Torque Squad project has partnered with numerous top racers from across the world of motorsport, including Juan Pablo Montoya, Joey Logano, Brad Binder, Rene Rast and Sebastian Montoya.
Grammy nominee Tina Guo and composer Steve Mazzaro, who have worked on music for various major motion pictures including Inception, Dune, Dunkirk, Wonder Woman, Interstellar, No Time To Die, Batman vs Superman, and others, have composed “The Soundtrack to Motorverse”, which can be heard at https://www.torquesquad.io and will be available on Spotify soon.
More than just images or profile pictures (PFPs), Torqies offer true utility across multiple areas in both the real and virtual worlds. Ownership of a Torqie provides entry to the Motorverse ecosystem, which is being integrated with REVV Motorsport and is adopting the REVV Token as its ecosystem utility token. Additionally, various REVV ecosystem NFTs will be supported in several of the upcoming Motorverse experiences.
Motorverse is a lifestyle blockchain platform consisting of games, fashion, events, DeFi, and much more. It is a subsidiary of Animoca Brands, the company advancing digital property rights for gaming and the metaverse and the driving force behind the pioneering REVV Motorsport ecosystem that includes REVV Racing, MotoGP™ Ignition, and Formula E: High Voltage.
Matt Solomon, Co-Founder and CEO of Motorverse, commented: “The Torque Squad is the first step into the Motorverse. We’ve put an incredible amount of effort into the artwork and community, so we can’t wait to see the avatars come to life! We’re building some amazing products for motorsports enthusiasts with Animoca Brands and are fully committed to contributing to a metaverse based on openness and interoperability.”
Yat Siu, the Executive Chairman and Co-Founder of Animoca Brands, added: “The launch of Torque Squad and Motorverse is a fantastic time for motorsport and blockchain enthusiasts and the REVV ecosystem. Motorverse is developing exciting NFT and physical products that focus on connecting the real and virtual worlds, which is a key element of the open metaverse.”
Currently in development, the Motorverse platform will feature the following:
- Real-Life and Virtual Events, such as Grand Prix tickets, VIP trackside experiences, competitive esports, live streams with your favourite drivers, and more. For details on upcoming events, see https://www.torquesquad.io.
- Fashion and Streetwear goods both real and virtual. Produced in partnership with a world-class designer based in London, the Torque Squad fashion and streetwear line is designed to exceed the quality and expectations that are standard in the market, and will stand out both in real life and the metaverse.
- The Motorverse: gain access to the first-of-its-kind, Web3 social platform for motorsports enthusiasts. The Motorverse connects participating users on a decentralized hub as a gateway to the metaverse, with interoperable NFTs and interactive experiences including 3D games and more.
- Future NFT Releases will be made available first to holders of Torque Squad avatars. Holders will either be immediately eligible or automatically whitelisted for releases from Torque Squad and Motorverse. NFTs will include custom vehicles, equipment, and branded NFTs developed in collaboration with key partners.
- Part of the Animoca Brands network, a key driver of the evolution toward the open metaverse. Torque Squad NFTs will be given utility in certain Animoca Brands products, with details to be announced
The first Torqie presale starts on 2 April 2022; for more information see https://www.torquesquad.io/
Blockchain
P2 Ventures Commits $50M Via Hadron FC to Startup Founders in Polygon Ecosystem
Last year, P2 Ventures emerged as a distinct entity from Polygon Labs, with a focus on blockchain investments. Now, it’s earmarking funds and providing mentorship to bolster project founders, particularly those concentrated on the Polygon blockchain ecosystem. A contributor from Hadron FC remarked that the community offered the perfect blend of “capital and vibes.”
P2 Ventures, a venture capital firm with a blockchain emphasis, was established late last year as a separate entity from developer Polygon Labs. It has pledged $50 million to support startup founders, potentially igniting fresh initiatives within the Polygon ecosystem.
The investment from P2 Ventures will be channeled to founders via Hadron FC, a program tailored for founders with hubs in Dubai and New York, according to a press release. This program encompasses mentorship, legal and regulatory guidance, networking opportunities, and “comprehensive assistance in navigating the complexities of startup development and fundraising,” the release stated. Among the initial 36 projects onboarded, several participated in a week of collaborative efforts at the Dubai facility. Shreyansh Singh, head of investments at P2 Ventures, expressed confidence in Hadron Club’s unparalleled capacity to nurture the aspirations of forward-thinking founders within the Polygon ecosystem.
Ajit Tripathi, a core contributor at Hadron FC, noted that the community provided the ideal mix of “support, capital, and ambiance.”
Initially part of Polygon Labs, the principal developer of various Polygon layer-2 networks built on Ethereum, P2 Ventures transitioned into an independent unit with its own 10-person team late last year, rebranding itself as P2 Ventures.
Source: coindesk.com
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Blockchain
Blockchain sleuth uncovers identity of PrismaFi’s hacker, who stole $11m
Blockchain investigator ZachXBT uncovered the purported perpetrator behind the PrismaFi breach, which resulted in the protocol losing $11.1 million worth of cryptocurrency. Through a series of posts, ZachXBT disclosed that the individual behind the attack, identified as 0x77 (or Trung), may be connected to several other breaches.
The Prisma team initially detected a sequence of transactions on the MigrateTroveZap contract in March, ultimately resulting in a loss of 3,257 ETH (equivalent to $11.1 million at the time). Initially, the attacker communicated with the Prisma deployer, claiming the attack was a white-hat initiative. However, all funds were subsequently transferred to Tornado Cash, a sanctioned cryptocurrency mixer.
The attacker then made audacious demands, including a $3.8 million (34%) white-hat bounty, significantly higher than the industry standard of 10%, as noted by ZachXBT, who highlighted that this demand was essentially extortion, given the insufficient assets in the treasury to reimburse users.
Further investigation revealed that the attacker’s address received funds via FixedFloat and was subsequently traced to Arbitrum, a layer-2 solution on Ethereum. By analyzing timing, ZachXBT determined that the attacker’s address was linked to withdrawals on TRON, including those from the Bybit cryptocurrency exchange.
The investigation also unveiled connections to prior breaches, such as the Arcade_xyz breach from March 2023 and the Pine Protocol breach from February of the current year. The attacker, utilizing the alias 0x77 on Telegram, remained active and had ties to the deployer of @modulusprotocol, further solidifying the connection between each incident.
Furthermore, the investigator disclosed conducting an analysis of the attacker’s personal information, including phone numbers and emails, which indicated a proficient technical background. All collected personal data has been forwarded to the Prisma team, who are pursuing legal action against the hacker in Vietnam and Australia, ZachXBT added.
Source: crypto.news
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Blockchain
Bybit CEO: “Institutions Driving Today’s Crypto Bull Market” – At Blockchain Life 2024 Dubai
During a discussion among industry leaders at the Blockchain Life conference in Dubai, Bybit CEO Ben Zhou emphasized the preparedness and sophistication of contemporary cryptocurrency exchanges (CEXs). Zhou, who co-founded Bybit in 2018, now stands at the helm of one of the world’s top three exchanges by trading volume.
At the event, Zhou shed light on various facets that underscore the current era of crypto maturity. “From Bybit’s standpoint, this ongoing bull market has been primarily propelled by institutional involvement… Our collaboration with third-party custodians like Copper and Fireblocks led to a 186% increase in institutional capital flows last year,” Zhou noted. He highlighted the pivotal role of enhanced infrastructure and the approval of Bitcoin spot ETFs in facilitating institutional participation in the crypto market.
Zhou has overseen meticulous upgrades to Bybit since the previous crypto bull run in 2021, enabling institutional investors to deploy larger capital pools. “Bybit boasts a highly versatile trading system that accommodates trading of any token against any other,” Zhou remarked during his live address on the main stage. “This affords our institutional clients a plethora of tools, enabling them to engage in spread trades, arbitrage funding rates, and various sophisticated trading strategies. This capability has facilitated the influx of new capital into the crypto space.”
Furthermore, Zhou highlighted the evolution of service reliability amidst market volatility. “Our risk management and system resilience have undergone continuous enhancements,” he affirmed. “Even during turbulent market conditions, Bybit maintains its stability.” This stability serves as a testament to the advanced infrastructure supporting both institutional investors and the exchange’s 25 million retail users.
Zhou also emphasized Bybit’s efforts to empower retail clients with access to products that simplify sophisticated trading strategies. “We offer a unique product known as perpetual protect, which utilizes options contracts to safeguard perpetual positions from losses,” Zhou explained. “Additionally, our advanced Unified Trading Account (UTA) design provides traders with a competitive edge in the market.” These initiatives aim to demystify derivatives and options, making complex financial instruments more accessible and comprehensible to a broader audience.
As the crypto market continues to mature, Bybit remains at the forefront, spearheading innovations that align with evolving market trends and regulatory standards. This proactive stance not only signifies a significant milestone for Bybit but also underscores the overall advancement of the crypto exchange industry.
Source: prnewswire.com
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