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Blockchain

Italian crypto fund Iconium invests in Italian Metaverse platform OVER

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Iconium, a leading Italian crypto investment fund specializing in digital assets and blockchain projects promoting decentralization and everything Web3.0, announces its second investment in Italy’s OVER, a decentralized Metaverse platform curating geolocalized AR/VR experiences. Through the ongoing partnership between the two Italian-based companies, Iconium supports OVER’s push to bring a community-owned Metaverse platform utilizing NFTs.

Italy’s quietly burgeoning crypto and blockchain scene is backed by a strong community of entrepreneurs and technical talent leading a diverse collection of startups, excelling especially in fintech and cybersecurity. While places like Silicon Valley, Singapore, Tel Aviv, and London get a lion’s share of the attention for being global blockchain hubs, Italy’s growing scene of blockchain-based businesses is putting the industry on notice.

The partnership between Iconium and OVER is rooted in their shared view that decentralization can bring about a Web3.0 revolution. Iconium first invested in OVER’s Seed round in 2021, before deciding to make another investment in the Metaverse platform earlier this year. During this period, both Iconium and OVER have experienced mutual growth and success. Recent highlights include Iconium’s investment in the $225 million Secret Ecosystem Fund and OVER’s increase in land sales on its platform, and the launch of a new version of its app that includes the precise geo-localization feature Map2earn.

Iconium is an all-encompassing crypto investment fund supporting a diverse range of decentralized projects and startups across every phase of their journey, ensuring maximum growth. As a principle, Iconium prioritizes blockchain-based projects related to disintermediation, decentralized finance (DeFi), and self-sovereignty with high disruptive potential. Since 2018 Iconium has backed more than 80 projects, investing $80 million across different segments such as DeFi, Web3.0, Layer-1 and Layer-2 scalability solutions, and the Metaverse. Iconium plans to invest another $60 million in the next two years.

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OVER’s community-owned Metaverse leverages NFTs to bridge the gap between the digital and physical worlds through advanced geolocation. OVER users have already visited 1.6 million locations as part of its Pokémon GO-styled treasure hunt. Using the platform requires only a regular smartphone camera. OVER, formerly OVR, recently went through a rebranding to better align with their vision of building a persistent and decentralized digital layer OVER the physical world.

“OVER represents an ideal partner as a crypto investment fund focusing on disruptive Web3.0 projects,” says Fabio Pezzotti, Iconium’s Founder and CEO. “We see its Metaverse platform as an innovative and engaging application of blockchain technology and NFTs. We love supporting local startups, but we would have invested in OVER regardless of where they are from—we are very proud, however, that they represent Italy.”

“From early on, Iconium has supported our vision and worked closely with us throughout the development stages,” says Davide Cuttini, OVER’s CEO and Co-Founder. “We look forward to continuing this partnership and we are excited to see where the journey takes us.”

Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

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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