Blockchain
House of Rare disrupts investing and trading of scarce collectibles, launching the first asset-backed NFT marketplace on Concordium blockchain
The Concordium blockchain will be used to launch House of Rare’s asset-backed NFT marketplace for fine spirits, leveraging Concordium’s novel ID framework to ensure that end user have the necessary attributes for the purchase for vendors legal compliance, such as age and jurisdictions.
House of Rare pioneered real item-backed NFTs with their first collection – RAREtequila. The collection consists of 777 NFTs, each redeemable for a bottle of highend limited edition tequila. The future plan is to branch out into the world of fine wine, champagne and cigars as additional assets in the near future.
Noticing the legal nature of these assets the marketplace will be developed on the Concordium blockchain to leverage the user friendly and privacy conserving Concordium ID-Layer, to achieve compliance with local authorities. Zero-knowledge proofs will help to verify whether customers are old enough to purchase alcohol in their country of residence while protecting personal data.
Users and collection creators will have a full suite of features to their advantage that will facilitate a personalized and joyful experience on the marketplace. Each House of Rare NFT has a real-life 1:1 item, fully redeemable by the buyers. The trustworthy custody of these assets will be transparently disclosed. Collectors are thereby ensured their NFT has real-life value and is scarce. This is a crucial aspect that will provide security for collectors. Furthermore, House of Rare will offer full collection integration. This means that collectors have full customizability and whitelisting options on sites of collection creators.
Miguel Ortiz, CEO of House of Rare, says: “We decided to develop on Concordium because of its network structure. The ID-layer ensures that the end user has the necessary attributes for the purchase and is located in a jurisdiction where we can sell our products. The decentralized approach and privacy measures adopted by Concordium made it an obvious choice for us.”
“Asset-backed NFTs are the future of NFTs, unlocking fractional ownership, liquidity, and value transfer by linking real-world assets to digital ownership and expanding the universe of tokenized assets. Our partnership with House of Rare will tap into the huge potential of asset-backed NFTs,” says Torben Kaaber, Head of Commercial at Concordium.
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
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