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Spores Network to Kick Off Cardstarter IDO on July 21st

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[PRESS RELEASE – HANOI, VIETNAM, July 21, 2021]

Spores Network, a full-stack NFT-DeFi platform, is getting closer to yet another milestone with the launch of its upcoming “initial DEX offering” (IDO) on Cardstarter – the premier launchpad and incubator for projects on Cardano.

Community members and investors now have the chance to secure a spot on the whitelist for the IDO scheduled for Friday, July 21st at 8:00 AM PST/3 PM UTC.

The highly anticipated dex offering marks the latest milestone for Spores Network, which aims to become the first full-stack, blockchain-agnostic DeFi-powered NFT marketplace.

Spores Network has recently completed private funding round, having raised a total of $2.3 million. The private placement was participated by major pre-selected investors such as NGC Capital, and Maven Capital.

Spores Network believes that content is king and expects to launch a venture fund dedicated to NFT + DeFi projects, including blockchain game publishing, as it expands the reach of its ecosystem.

Duc Luu, Chairman at Spores said: “Spores Network is incredibly honored and excited to launch our IDO through Cardstarter. Spores aims to be a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture and we’re pumped to bring that vision to Cardano’s incredible community. Expect us to bring the hottest celebrities, animation/anime, digital fine art, blockchain games, and esports to Cardano’s ecosystem soon”.

First Full-Stack DeFi Platform Built on Cardano

Spores is equipped with features to facilitate and benefit all participants, including artwork and content creators, game developers, entertainment producers, clubs, collectors, celebrities, fans, etc.

Somewhere down the line, Spores envisions a platform that is cross-chain interoperable — allowing users to issue NFTs, auction, exchange the crypto assets and utilize DeFi products without barriers.

In this sense, the project takes the advantages of blockchain technology to authenticate NFTs, track their ownership logs and buy/sell history, as well as decentralize their trading procedures. These operations are perfectly done while complying with intellectual property and copyright licenses to protect the benefits of the ecosystem participants.

Spores Network has opted for an IDO fundraising to allow community members benefit from built-in liquidity pools and immediate trading, as well as save on lower costs for listing. And CardStarter auction platform is, in particular, perfectly positioned as the first project accelerator for projects built on the Cardano network.

An initial dex offering, commonly referred to as an IDO, is a fundraising event that is administered by a decentralized exchange (DEX). In contrast to initial coin offerings (ICOs) where the project team themselves collect the pool monies, an IDO model means that the fundraising will be conducted on an exchange’s launchpad platform.

CardStarter connects early adopters and supporters to projects and has a strong team that has successfully bought several initial dex offerings and proven itself among the Cardano ecosystem’s premier launchpads.

About Spores Network

Spores Network founders believe that crypto will lead to decentralization of ownership and frictionless redistribution of capital. Their mission is to create an NFT ecosystem that is creator-centric, community-driven, frictionless, and borderless. Spores Network chooses to be a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture. Spores co-founders include Duc Luu (Nasdaq IPOed serial entrepreneur ), Eric Hung Nguyen (former senior investment analyst at a top-10-worldwide hedge fund and blockchain angel investor), Paven Do (former blockchain & cryptonomics researcher at HK Applied Science & Tech. Research Institute), and a diverse team of advisors across blockchain and entertainment.

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Source: https://cryptopotato.com/spores-network-to-kick-off-cardstarter-ido-on-july-21st/

Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

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The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


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Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

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Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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Blockchain

Huobi Files to Dissolve Chinese Entity Following Recent Cryptocurrency Crackdown

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One of the leading cryptocurrency exchanges, Huobi, has filed to dissolve an entity based in China. This comes as the country escalates its efforts to clamp down on the cryptocurrency industry, in general.

  • Evident in Chinese business registration archives, the entity’s management has filed a Resolution to dissolve On July 22nd, this year.
  • The announcement further reads that “creditors are requested to declare their claims to the liquidation team within 45 days from the announcement date.”
  • Listed as a claim contact person, as well as the head of the liquidation team, is Huobi Group’s founder and CEO, Lin Li.
  • It’s worth noting that Huobi has moved its exchange out of China quite a while back, and it’s unlikely that this will affect its services. As of now, Huobi Group is based in the Seychelles.
  • In any case, the move comes amid a broader crackdown on behalf of China towards the entire cryptocurrency industry.
  • Just this month, China’s Central Bank shut down a company that provides services for cryptocurrency transactions.
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Source: https://cryptopotato.com/huobi-files-to-dissolve-chinese-entity-following-recent-cryptocurrency-crackdown/

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Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

Published

on

The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


ADVERTISEMENT

Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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