Blockchain
DAM Finance Closes $1.8 Million Pre-Seed Funding Led by DFG and Jsquare for Cross-Chain, Portfolio-Backed Stablecoin
dPRIME Asset Modules Finance (”DAM Finance” or “DAM”), a protocol for creating purchasing power from cross-chain token portfolios, is pleased to share that it has closed a $1.8 million pre-seed funding round led by Digital Finance Group (”DFG”) and Jsquare.
DFG, a global blockchain and cryptocurrency investment firm with more than $1 billion in assets under management, and Jsquare, a research and tech-driven investment firm focused on facilitating blockchain mass adoption, are joined by Arrington Capital, Ledgerprime, D1 Ventures, 11-11 Capital, Stacker Ventures and prominent angels within the Dotsama community as participants in the round. Funding will accelerate development towards DAM’s mainnet launch, currently scheduled for later this year.
DAM enables borrowers to deposit baskets of tokens in a single transaction to mint dPRIME, a Dotsama stablecoin on Moonbeam. This innovation provides borrowers more flexibility in purchasing power creation and vault maintenance while accommodating a broader range of blockchain-secured assets as collateral.
The project’s core contributors have backgrounds in enterprise and public blockchains, asset management and data science, previously at firms such as R3, Myria, Fidelity, Oak Hill Capital, EY and IC Group. As a result, protocol risk management will be a major focus area for DAM.
James Wo (@realjameswo), Founder and CEO of DFG, commented, “DFG is a strong backer of Polkadot and Kusama ecosystem, and DAM stands out from most of the multi-chain and cross-chain projects by showing its great competence in unlocking on-chain liquidity. We are also very confident about the coming launch of the dPRIME stablecoin. DFG will continuously support DAM to achieve a greater DeFi user experience.”
Joanna Liang (@joanna_jsquare), Co-Founder and CEO of Jsquare, commented, “As research and tech-driven investment firm focused on facilitating blockchain mass adoption, we are excited to see DAM has the great potential to unlock liquidity from diversified token portfolios and create huge purchasing power for investors. It’s an innovative design to increase the liquidity of the cross-chain long-tail assets. We’re proud to be the leading investor to support the team to make it.”
Harrison Comfort (@hoco_dam), Co-Founder and Product Lead of DAM, commented “Our goal is to significantly improve upon the current DeFi borrowing experience by embracing the reality that web3 investors have increasingly diverse portfolios across multiple chains. We are fortunate to have a group of backers led by DFG and Jsquare that can help us realize our cross-chain vision while also supporting our strong emphasis on risk management.”
Follow DAM on Twitter, @DAM_Finance, for additional announcements and project updates.
Blockchain
Teletubbies Digital Companions to Launch on the Tezos Blockchain
MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.
The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.
Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.
Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”
Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”
The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.
Blockchain
Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board
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