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Nurturing the next wave of metaverse startups to build on Klaytn

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F10 and Klaytn Foundation are pleased to announce the first 5 startups that have been selected from over 100 applications to participate in the inaugural Klaytn Incubation Program powered by F10. These startups will spend the next 12 weeks undergoing a transformative journey, to develop their innovative web3 ideas or MVPs in gaming, social and content, into viable businesses for the metaverse.

The program, which kicked-off on 4 April 2022, draws on the unique strength of F10, a global fintech incubator, and Klaytn, a dominant interoperable blockchain ecosystem in the web3 industry.

These startups will receive extensive mentoring, access to investor network, program perks and co-working space, as well as technical development and marketing support from Klaytn, and access to wide ranging tools, projects and expertise on the Klaytn ecosystem.  In addition, F10 will be providing a total of up to USD 500,000 worth of Klay in grants to the startups of 2022.

Jonas Thürig, Head of F10 Singapore noted that “We were very impressed with the quality of the startup applications and are proud to now announce the 5 selected startups in the areas of metaverse, gaming and the creator economy. We are very excited on what’s installed for them and can’t wait to fuel their acceleration with this program together with the Klaytn team.”

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“F10 has designed a fully tailored curriculum that combines traditional startup elements with web3 programs and benefits from Klaytn,” said David Shin, Head of Klaytn Global Adoption. “Through supporting startups to succeed on the Klaytn ecosystem, we hope to create more possibilities and greater synergies, to unlock more use cases for the metaverse. For this incubation program, not only will we be lending our expertise and resources in web3, but we’ll also be bringing in other web3 partners to share their knowledge and experiences,” he added.

The 5 startups in the inaugural batch 1 are the following:

1) LevelHeroes (Zurich) Combines the magic of blockchain and metaverse technologies, it intends to bridge the gap between centralized gaming communities to bring them decentralized assets to raise funding for their digital assets in a fun and meaningful way. Users are able to engage with and support their favorite aspects of the project, which gives developer teams feedback into what their fanbase is really interested in. Get ready, LevelHeroes is rising up to bind the ties between the gaming universe!

2) Kryptonium (Singapore) beoble is a social module built by Kryptonium, with API and SDK for Web 3.0. It is an on-chain communication window and a true user-owned Web 3.0 product. beoble aims to help other Web 3.0 services integrate social functionalities like creating social profile, instant messaging, posting of feeds into their services, all within 5 minutes.

3) JOOS® (Germany) Is a decentralized app for content creators. We give them the tools to break the chains of platform dependency and to have a direct connection to their community without intermediaries. With JOOS, creators can have a stable and independent income through regular payments by their fans and sell shares to investors, who get a part of the creator’s profits in return.

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4) Y2123 (Singapore) Is an NFT-based blockchain game where you play as a citizen scientist racing against time to save Earth from climate change. Inspired by Zoo Tycoon and Tamagotchi, you will have to restore your Land NFTs to good health by finding the right ecological balance of flora and fauna NFTs on it. There will be 4 habitats released in phases, consisting of Savannah, Marine, Rainforest and Urban. Y2123 has sold out its genesis collection and is launching its land and 2nd generation NFTs in April 2022. Advised by a Pew Fellows marine biologist, we also have a philanthropic mission to aid the fight against climate change in real life.

Currently on Ethereum, with ambitions to build a multichain ecosystem.

5) Dixel Club (South Korea)– Creates non-programmed and user-generated pixel art NFT collectibles where you earn $DIXEL rewards on your PixelFi activities. Dixel Club has three main features. First, anyone can issue the next edition of Dixel Art by sharing the single 16×16 canvas. Also, the NFT minters can earn $DIXEL rewards when a new Dixel Art is generated. Lastly, they can get the $DIXEL tokens that are used to mint the edition back and get the tips received from people when they burn their NFTs.

Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Blockchain

Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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Blockchain

1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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