Synthetix is a financial primitive enabling the creation of synthetic assets, offering derivatives and exposure to real-world assets on the blockchain. A synthetic asset, in turn, is simply a tokenized derivative that mimics the value of another asset. A spot exchange-traded fund, or ETF, is a typical example of a synthetic asset that could represent …
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The Cardano network gets a boost thanks to ADA Handle and its human-readable wallet address function. Rather than interact using a random-looking string of alphanumeric characters, ADA Handle facilitates custom addresses that are easy to remember and user-friendly to boot. The firm launched its “NFT-powered” naming service earlier this week, and user feedback has been …
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When merge? This question is being asked with increased frequency and intensity as the developers of the Ethereum clients and testnets are getting closer to The Merge by the day. To this point, the testnet Kiln was launched just two days ago, and developers have now successfully completed a transition from the proof-of-work consensus mechanism …
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Creators of Bored Ape Yacht Club (BAYC) NFT series Yuga Labs gradually expanded within their first year in business and now looking to expand via metaverse. BAYC sales surged within 2021 and reached more than a $1 billion market cap, including the sales on the secondary market. Yuga Labs made $127 million in net revenue …
While many analysts predict that the hiked interest rate by the Feds would lead to a positive movement in the price performance of Bitcoin, a leading billionaire investor, however, disagrees with this notion. Bitcoin would continue to trade between $30k to $50k Michael Novogratz, the CEO of Galaxy Digital Holdings Ltd., in a recent interview, …
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SAND was higher on Wednesday, as it was announced that HSBC was set to enter the Metaverse via The Sandbox. While up nearly 10% on the news, MKR and WAVES were also some of today’s leading gainers. The Sandbox (SAND) On Wednesday, it was confirmed that The Sandbox and the British financial institution HSBC agreed …
The LeoFinance Team began it’s blockchain journey three years ago when they built the tokenized social app called LeoFinance.io, which became the backbone of a much bigger Web3 Ecosystem that has continuously evolved and expanded within the crypto world driven by two core values: creating opportunity for users and expanding the width and depth of …
The British multinational investment bank and financial services holding company, HSBC, has revealed it has partnered with the blockchain virtual gaming platform The Sandbox. According to the platform’s parent company, Animoca Brands, HSBC is the first global financial services provider to enter The Sandbox metaverse. HSBC Steps Into the Metaverse Over the last 12 months, …
More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes After Crypto Miners Across Kazakhstan The rapid expansion of crypto mining in Kazakhstan, since last …
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Following days of consolidation, bitcoin rallied above $40,000 on Tuesday, which comes as markets prepare for today’s Fed meeting. ETH also climbed, moving away from its recent support point in the process. Bitcoin BTC finally broke out of its recent streak of price consolidation on Tuesday, as the world’s largest cryptocurrency climbed to almost a …
press release PRESS RELEASE. Vancouver, Canada – MetaBlox has completed their seed round and have raised over $2 million from some of the most highly regarded firms in Web3. The seed funding is co-led by Synergis Capital and CollabCurrency, followed by NFT Technologies, SNZ holdings, Future Life, Slope, CrowdCreate, and multiple technology and few crypto-focused …
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Gladstone Arantes, a director of the Brazilian Development Bank (BNDES), gave new details about the progress of the Brazilian Blockchain Network, a project that has been in development since 2018. The network will be created on top of the Hyperledger Besu 2.0, which uses a proof-of-authority consensus mechanism. The final goal of this project is …
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Former employees of the defunct Diem (or Meta) platform have secured $200 million from venture capital firms to launch their version of the Diem project. After Meta aborted its mission of launching a digital currency last year, it decided to sell its remaining assets to Silvergate Capital for $182 billion. However, the team behind the …
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The Stellar Development Foundation (SDF) has announced that it has made $30 million available for fintech start-up companies that are building on its blockchain platform. According to the announcement, the fund is part of SDF’s venture capital arm, Enterprise Fund, with plans to provide up to $500,000 for each investment plan. The idea is to …
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THORChain RUNE has been on a significant uptrend due to strategic developments on the network. Data from CoinGecko shows that RUNE has gained by 73.8% within one week. The gains stand out from the broader crypto market that has dipped within the past week. THORChain launches synthetic assets One of the factors fuelling RUNE’s gains …
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