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Looking Glass Labs Enters Definitive Agreement to Acquire 100% of Web 3.0 Holdings Corp.

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Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (OTC: LGSLF) (FRA: H1N), a leading Web3 platform specializing in non-fungible token (“NFT“) architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, is pleased to announce that it is to acquire 100% of Web 3.0 Holdings Corp. (“Web 3.0 Holdings“), a technology company that is addressing Business to Consumer (“B2C“) and Business to Business (“B2B“) infrastructure challenges within Web3 environments (the “Acquisition” or the “Agreement”).

Web 3.0 Holdings has aggregated a portfolio of retail-focused engagement and optimization assets, including crossover digital identity code scripts and digital distribution product frameworks. The Acquisition will allow LGL full access to Web 3.0 Holding’s proprietary retail technology platform.

LGL will pay the shareholders of Web 3.0 Holdings an aggregate of up to $3.15 million, payable in common shares of the Company, as per the Agreement, at a deemed price per common share equal to the closing price on the day prior to the Agreement date. Closing of the Acquisition is subject to final due diligence by LGL and NEO Exchange approval.. In connection with the share consideration issuance, LGL anticipates relying on Section 2.16 of the National Instrument – Prospectus Exemptions, also known as the take-over bid prospectus exemption. The Agreement will allow LGL to address particular infrastructure challenges within Web3 environments, related to its own projects, going forward. The use of both B2C and B2B digital commerce ecosystems, specifically in the Metaverse realm, can be beneficial, so addressing and tackling the challenges that both strategies propose, will provide solutions for LGL and its continued evolution of technology.

B2C refers to businesses that are focused on the needs and interests of its consumers. B2B refers to businesses that are focused on serving other businesses, instead of themselves. An example of B2B businesses includes software or manufacturing companies. The marketing strategies differ based on the classification of businesses. Research suggests that although B2C is the preferred commerce platform for Metaverse and Web3 companies, there are a number of uses B2B can play in the Web3 and Metaverse sector including brand collaborations, partner relationship development, incentivizing sharing and evangelizing, advertising in the metaverse, showcasing products, incentivizing engagement and use of brand products and services, rewarding shareholders, clients, and partners, prevalence of data-driven marketing and more.

Blockchain

AI-Powered Stock Trading Platform Market to Grow at CAGR of 10.24% through 2033 – Expanded Market Reach & Customized Investment Solutions to Propel Growth

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Vitalik Buterin claws back crypto community’s right to redefine ‘inflation’

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Ethereum’s co-founder argues for the crypto community’s authority to redefine “inflation” as the expansion of currency supply, challenging conventional economic definitions and tackling misinformation.

Vitalik Buterin, one of the creators of Ethereum, has emphasized that the crypto community has already staked its claim to redefine the term “inflation.”

Buterin’s remarks were prompted by a post from digital media outlet Axios, which humorously suggested that “inflation” now refers to high prices rather than the traditional concept of rising costs.

Although the Axios post was presented in a lighthearted manner, Community Notes (CN) clarified that the definition of inflation remains unchanged.

Buterin’s response, posted on Farcaster, contested Axios’ interpretation of inflation by asserting that the crypto community has already reshaped the meaning of the term.

“[…] we already decided that it now just means ‘increase in the total supply of a currency’.”

Buterin’s rebuttal garnered support from other users on Farcaster, including former Coinbase employee Binji.eth.

Traditionally, inflation refers to the general increase in the price level of goods and services, resulting in decreased purchasing power as currency value diminishes.

However, Buterin’s argument suggests a cultural shift in the definition of inflation, proposing that ongoing global inflation arises from an essentially unlimited increase in the total supply of currency.

Tech investor Lee Edwards criticized Axios’ initial post for perpetuating misconceptions rather than educating readers.

Buterin has recently been active on Farcaster, advocating for community-driven solutions and initiatives focused on preserving privacy and addressing exploitation issues.

While Buterin has not commented on the concerns surrounding Ethereum Foundation researchers Dankrad Feist and Justin Drake’s involvement with EigenLayer, their decision to become advisors at EigenLayer in exchange for significant compensation in EIGEN tokens has sparked debate within the crypto community.

While some members support the transparency of the disclosures, others have criticized the decision, suggesting that the substantial compensation could influence decision-making.

Source: cointelegraph.com

The post Vitalik Buterin claws back crypto community’s right to redefine ‘inflation’ appeared first on HIPTHER Alerts.

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Blockchain dev Sphere introduces bank-to-wallet Telegram extension

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Sphere Labs, a blockchain developer dedicated to facilitating stablecoin services for corporate clients, has unveiled a new fiat on-ramp and off-ramp tailored to operate within Telegram.

The bank-to-wallet extension enables Telegram users to seamlessly transfer funds between their bank accounts and wallets directly within the Telegram app, with an advertised fee of 0.1% per transaction for early adopters.

This service will be available to early adopters starting the week of May 27, with a full rollout expected later this year.

While users from any unsanctioned country can utilize the Telegram extension, they are required to link the service with a bank account denominated in United States dollars or euros.

Telegram remains a hotbed of crypto innovation and development, boasting a plethora of bots and applications such as Unibet and the CoinGecko bot, fostering a robust blockchain ecosystem within the platform.

At the heart of Telegram’s appeal to crypto investors, speculators, and enthusiasts lies the Telegram Open Network (TON), which integrates various components including the TON Blockchain, TON DNS, TON storage, and TON Sites, offering users a comprehensive solution for all their Web3 requirements.

According to DemandSage, Telegram boasts an impressive 800 million monthly active users, with over 52 million users engaging with the platform on a daily basis. DemandSage also reports that a staggering 15 billion messages are exchanged on Telegram daily, with the app being downloaded more than 1 billion times. Telegram is projected to reach 1 billion users by the end of 2024.

Furthermore, India ranks as the country with the highest number of Telegram users, estimated at 104 million users, making the platform an ideal environment for delivering fintech services to emerging markets.

The expansion of financial services to developing countries remains a central focus of the blockchain industry, with companies like Ripple Labs and Standard Diamond Co. striving to develop innovative solutions for those lacking adequate financial services in the modern era.

Source: tradingview.com

The post Blockchain dev Sphere introduces bank-to-wallet Telegram extension appeared first on HIPTHER Alerts.

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