Blockchain
tokenproof Raises $5M in Seed Funding, Led by Penny Jar Capital, to Bring Safety & Utility to NFTs
tokenproof, an easy and secure way to unlock the value of Non-Fungible Tokens (NFTs), announced it raised a $5M round of seed-funding led by Penny Jar Capital, with participation from Corazon Capital, 6th Man Ventures, Canonical Crypto, and prominent angels including Sebastien Borget, Mark Cuban, Keith Grossman, and Patricio Worthalter. tokenproof lets owners enjoy the benefits of their NFTs without putting them at risk, while also making it easy for companies to leverage tokens as an extension of their brand – whether in the real world or online.
With an increasing number of big brands entering the space, the NFT market is expected to grow by $147B over the next five years, according to a July 2022 report from Technavio. However, using NFTs comes with substantial risks for users, and logistical challenges for brands. That’s because to unlock the value of an NFT, a user typically has to connect their digital wallet to use their tokens, exposing not just the required NFT, but all other assets in the wallet. tokenproof removes this risk by creating credentials that serve as proof of ownership of a digital wallet and its assets.
“Eliminating the unnecessary risk of connecting or carrying a digital wallet is crucial for mainstream use of NFTs,” said Alfonso (Fonz) Olvera, Founder and CEO of tokenproof. “We are dedicated to delivering the security and privacy users deserve while making it seamless for companies to unlock the possibilities of NFTs and connect with people in compelling and creative ways.”
After a one-time verification of a user’s digital wallet, tokenproof issues a proof of ownership credential, while the actual wallet remains securely disconnected. The tokenproof mobile app creates dynamic QR codes to authenticate and unlock the value of NFTs; whether that’s access to an invite-only event, a membership benefit, or a retail experience – in the real world or online. Companies using tokenproof for verification can customize the experience with flexible authentication rules, such as VIP access, discounts, or exclusive content.
At this year’s NFT NYC, the leading non-fungible token conference, tokenproof powered over 75 events, including the Bored Ape Yacht Club’s ApeFest, delivering a frictionless experience for both attendees and hosting companies, and establishing tokenproof as the go-to ticketing solution in Web3.
“The tokenproof team were amazing partners and a joy to work with,” said Kerem Atalay (EmperorTomatoKetchup), co-founder of Yuga Labs. “Stoked to see where they’re headed from here and can’t wait to work with them again.”
The funding follows the company’s success at both physical and virtual events and will fuel the expansion of additional use cases for NFT verification, including online services, and retail experiences.
“We believe NFTs will transform how brands connect with customers, but only with seamless on-ramping and greater security,” said Bryant Barr, co-founder of Penny Jar Capital. “Fonz and team are solving this massive Web3 problem by creating a safe way to realize the value and benefits of NFT ownership.”
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo
OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara
Blockchain
The World Market for RegTech 2025-2030: Growth Trends, Industry Chain Analysis, Regional Insights, SWOT Analysis and Market Shares of Leading Players – Thomson Reuters, Deloitte, PwC, Accenture, IBM & More
-
Blockchain6 days ago
Pelican AI and Christie Capital Announce Launch of Brokered Financing
-
Blockchain Press Releases5 days agoBybit: A Global Favorite Among Full-Time and Professional Traders and the World’s Second-most popular Crypto Exchange
-
Blockchain Press Releases7 days ago
HTX Achieves 100% YoY Trading Volume Growth to $2.4 Trillion in 2024, Powers User Growth to Over 49 Million
-
Blockchain6 days agoBlocks & Headlines: Today in Blockchain (BubbleMaps, Pantera Capital, Week 2025, FP Complete, FP Block, Bybit, FarmX)
-
Blockchain Press Releases4 days agoThe Moskowitz Law Firm, PLLC Announces Preliminary Approval of a Proposed Class Action Settlement on Behalf of Purchasers of Astrals Non-Fungible Tokens and Galaxy Tokens
-
Blockchain5 days ago
Sportsbet.io Becomes New Title Partner of Snooker’s Players Championship, Tour Championship and Champion of Champions
-
Blockchain7 days ago
io.finnet and Cede Labs Partner to Transform Multi-Exchange Portfolio Management for Institutions
-
Blockchain Press Releases6 days agoBybit & SignalPlus Unveil the 100,000 USDC Global Trading Showdown
