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Topia, the leading platform for creating social experiences with decentralized spatial chat inside fully customizable virtual worlds, announced feature launches and key new investment. Kevin Durant and Rich Kleiman's Thirty Five Ventures join Topia investors Alexis Ohanians' Seven Seven Six and Bonfire Ventures. 

As an industry first, Topia has expanded its creator ecosystem with the launch of their verified NFT system. With this system, ERC-721 NFT owners can verify and place their on-chain assets inside Topia worlds and collaboratively create NFT galleries. Topia's peer-to-peer webrtc streams are decentralized, allowing secure end-to-end encrypted browser-based chat. In addition to the new verified NFT system, Topia also introduced member profiles, enabling unique usernames and greater relationship building within Topia worlds.

With the new gallery feature, NFTs can be displayed publicly in a Topia world where friends, family, colleagues, and the general public can be invited to view and discuss them. Topia is maintaining a publicly available verified NFT gallery in topia.io/nft and holding a public launch event with a series of talks on December 14 in topia.io/pixel.

“The emergence of NFTs represents a major milestone for Web3, decentralized technology, and the interoperable creator economy. Until now, it has been challenging to showcase NFTs in real-time social experiences online. We wanted to replicate the ability to socialize around art, as you would in our home, at a gallery, or museum,” said Topia CEO and co-founder Daniel Liebeskind. “Decentralized databases are great for creators, who get to add assets to a shared public backend and leave it up to platforms like Topia to build interoperable frontends that increase the value of their creations. Since founding Topia two years ago, we've been on a mission to empower the creation of social experiences for real-time connection and play. Verified NFTs and owner profiles represent our commitment to the growing interoperable metaverse and enable Topia world builders to create hybrid on-chain, off-chain social experiences that showcase NFTs and are accessible to everyone.”

How Verified NFTs work in Topia -- A new menu option allows Topia users to connect Ethereum accounts to their Topia account. All of the user's ERC-721 NFTs will be populated into their asset library and can be placed within Topia's worlds. Similar to original art in the physical world, an NFT can only exist in one place at a time across the entire Topia universe. Hovering over a placed NFT will reveal a “verified NFT” badge that confirms its on-chain identity and its owner's Topia profile. Placed NFTs can also be added to a user's profile to highlight worlds.

About Topia

Since launching in April of 2020, Topia has grown to see hundreds of user-hosted events every week.  Topia's scalable architecture can handle events ranging from a few friends to thousands of concurrent guests coming together. The free-to-use platform has co-hosted virtual Burning Man twice and attracted a diverse range of users from families, students, and schools, to companies, music and arts festivals, and Fortune 500 companies. Large companies and confluencers have been hiring agencies to build out branded Topia worlds for their employees and fans to foster creativity and collaboration. 

topia.io

Injective, the first universal DeFi protocol for cross-chain derivatives trading, has announced the successful public launch of its main network alongside a $120 million protocol incentive program named Astro for traders, market makers and DeFi projects.

A newly minted unicorn, Injective streamlines fully decentralized trading with a fast and secure layer-2 exchange that allows individuals to create unlimited financial markets for assets such as crypto, commodities, NFTs, forex, and much more. Injective enables 24/7 trading and allows its users to trade with zero gas fees. All transactions are entirely transparent and secured by Tendermint-based proof-of-stake consensus with instant finality. Recently, major institutions such as Siam Commercial Bank and Binance have put their institutional weight behind Injective as well as they act as validators for the protocol.

Injective is a Cosmos SDK based chain that enables decentralized trading for a diverse array of financial instruments such as perpetual swaps, expiry futures, and traditional spot markets. Unlike its counterparts such as FTX and dYdX, every component of the Injective is built to be fully trustless, censorship-resistant, publicly verifiable, and interoperable while providing an intuitive user experience comparable to centralized exchanges. 

Injective has already seen substantial levels of adoption with over one billion dollars in daily trading volume across more than 25,000 unique monthly users. Renowned market makers and funds such as Cumberland, QCP Capital, CMS, and Bitlink are all early backers of the project and helped provide advice on the initial design and development of the protocol itself. Injective rose to prominence last year as they became one of the first protocols to list commodities such as gold on the exchange.

To accompany the mainnet launch, Injective is also releasing a $120 Million incentive program named Injective Astro to help promote liquidity and trading on the protocol. To help put this number into perspective, $120 Million will make Injective's Astro program one of the largest liquidity incentive programs within the orderbook DEX space and by far the largest within the entire Cosmos ecosystem.

The program will begin by allocating the funds specifically to market makers and traders who utilize the protocol. Through the Trade & Earn program, traders will be able to earn a rebate for every trade that they place on the exchange rather than having to pay a fee as is the case on all other platforms today. To further encourage user loyalty, Injective has introduced a decentralized VIP system to progressively reward users as they increase participation and volume. This is the first time an exchange VIP system has been implemented fully on-chain with zero intermediaries.

Injective Astro will extend far beyond the trading incentives to further catalyze ecosystem growth through a multi-stage process. Injective Labs also plans on assigning more funds toward incentivizing new projects to build on Injective. So far Injective Labs has publicly backed NFT auction house Burnt Finance which famously worked with Injective to burn Banksy painting and minted an NFT after the act. The news was covered across all major media and the video itself has garnered over ten million views in China alone.

The frontend interface created by Injective Labs called Injective Pro was released last month. Injective Pro restricts all US users in order to properly comply with guidelines set forth by governing bodies such as the CFTC. Uniquely however, developers can build new exchange interfaces on top of Injective which allows individuals to rapidly create region or asset specific exchanges while being able to leverage the powerful backend protocol. For instance, a developer can deploy a decentralized exchange that only focuses on futures trading.

Over the past few months, Injective has taken steps to ensure complete decentralization of the protocol itself. Every transaction on Injective is verified by a decentralized group of validators that currently secure some of the fastest growing projects in the industry today such as Cosmos and Terra. Users can view all trades on-chain via the Injective Explorer regardless of whether the trade was placed via a frontend interface or the institutional grade Injective API. All markets launched on Injective must be approved by a DAO vote from which Injective Labs abstains. All of these aspects empower the global community to dictate the future of Injective.

The launch of Injective mainnet and the Astro incentive program follows the release of the Injective Bridge – an IBC-enabled cross-chain bridge that supports seamless Cosmos and Ethereum-based token transfers. Injective also touts its fast withdrawal times back to Ethereum which currently stands at less than 10 minutes which is far lower than other layer-2 solutions where withdrawals can take up to a week to process.

“Our mission at Injective has always been to build the most powerful cross-chain protocol for completely decentralized derivatives trading. As Injective interconnects new chains, the ecosystem will continue to serve as a DeFi gateway for trading across the multi-chain universe. Injective's Ethereum-native tooling allows users to simply create and trade new cross-chain markets without the typical roadblocks associated with making transactions across distinct blockchain networks,” said Eric Chen, the 23-year-old computer science dropout co-founder and CEO of Injective Labs.

The team at Injective Labs has been building it since 2018 and validated the product  with the largest funds, market makers, and institutional traders. Injective was one of the first projects to be incubated by Binance Labs and recently raised a $10 million round from the likes of Pantera Capital and Mark Cuban.

About Injective

Injective is the first cross-chain protocol built for decentralized finance applications. On the Injective exchange, anyone can access, create, and trade unlimited DeFi markets such as futures and perpetuals. Developers can also build cross-chain Ethereum-compatible projects that are lightning fast and achieve instant transaction finality. Injective is backed by a prominent group of stakeholders including Binance, Pantera Capital and Mark Cuban. For more information please visit https://injectiveprotocol.com/ 

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