Key takeaways The Russian invasion and the robust international response via economic sanctions will have a profound effect on global finance over the coming years. This is especially true of cryptocurrencies. We are at a pivotal moment in their evolution. What is happening in Ukraine is tragic. Like everyone, we hope this conflict gets resolved […]
RFOX, a fast-growing metaverse company building the future of the Internet, has announced it has established a new regional office in Dubai. The company is currently domiciled in Southeast Asia and has carved out a reputation as one of the hottest blockchain companies.
What makes RFOXunique is the RFOX VALT metaverse, a virtual world that the company is building in virtual reality (VR), and its integration with the multiple other businesses the company has already built to create a vibrant ecosystem. The RFOX VALT is focused on shopping, retail, and entertainment experiences, offering users the ability to have new and immersive experiences with their favourite brands and celebrities in VR.
RFOX established a roadmap to build a metaverse two years ago. The Company's plans accelerated once Facebook announced it was pivoting to become a metaverse-focused company called Meta. Fortunately for RFOX, its plans to build a metaverse were fairly advanced. RFOX is one of the few companies that have specifically targeted both retail and entertainment sectors for its metaverse focus. Analysts Emergen Research have identified both sectors to dominate the metaverse market, estimated at USD 1.6 trillion by 2030.
Co-founder and CEO, Ben Fairbank praised the Dubai government, especially its ruler Sheikh Mohammed Bin Rashid Al Maktoum, for the foresight and vision for virtual assets and the crypto industry. “We looked at multiple jurisdictions, and after careful review, we decided that Dubai was making great progress in giving users confidence in virtual assets. Dubai's adoption of the Virtual Asset Regulation Law, the first law governing virtual assets, and the establishment of a regulator to oversee the sector will help facilitate the mainstream adoption of virtual assets. We also looked at the ecosystem in Dubai and found we were in good company with organisations such as Binance and Meta also taking up strategic positions in Dubai. We are optimistic about our future in the region”, said Ben Fairbank, CEO of RFOX.
RFOX is a metaverse company with a mission to be the global leader in immersive metaverse experiences focused on retail, media, gaming, and rewards, through the RFOX VALT metaverse. Since 2018, the company has built the RFOX ecosystem of products and solutions that include online games (RFOX Games), white-label NFT platform (RFOX NFTs), DeFi products (RFOX Finance), digital media platforms (RFOX Media and RFOX TV), and more. Its main token is RFOX, the digital asset that fuels the RFOX metaverse ecosystem and its immersive technology.
Entrepreneurship is one such area where cryptocurrencies are helping founders to build their businesses entirely on crypto. Bitcoin and other digital assets are being used by an increasing number of businesses throughout the world for a variety of operational, investment, and transactional purposes. As with any frontier, there are unknown dangers, but there are also great incentives while investing, trading, or building businesses using cryptocurrencies. Deciding whether or not to leverage digital assets depends upon the nature of the companies you want to build. Moreover, given the adoption of crypto assets worldwide, future businesses may be built entirely on crypto rails. In this article, we will go through how businesses can be built using cryptocurrencies as a main source of governance, fundraising, distribution of equity, raising debt, banking, and NFTs for adopters/users. Organize as a DAO Traditional organizations are governed by rules and regulations that are applied to every member of the business. However, companies can mimic their structure and establish governance rules as a source code with the advent of tokens and crypto-assets. An organization adopting a structure is called a decentralized autonomous organization. Smart contracts can help execute such code when certain conditions are met. Also, since the code is publicly audited, which helps solve the principal-agent dilemma. Communities lead DAOs, i.e., no central authority can control the governance of organizations. Fundraise with cryptocurrencies, stablecoins There have already been eight large fundraising rounds of crypto and blockchain startups in July 2021; these companies account for more than half of the top 12 fundraising rounds in this sector since 2018. Be it cryptocurrencies or stablecoins; these virtual assets have become a novel source of fundraising. During the recent Russia-Ukraine war, most of the fundraising has been done in BTC, ETH, and USDT. Issue tokens as equity Issuing crypto tokens as equity is called tokenized equity, i.e., the production and issue of digital tokens or “coins” representing equity shares. Businesses are finding it easier to adapt to the digitized crypto-version of equity shares as blockchain adoption grows. Such tokens carry the traditional initial public offerings (IPO) model. A set of procedures must be followed in order to issue an equity token. This is because equity tokens must adhere to each country’s legislation when conducting share or security purchase and sale campaigns. The Equity Tokens Offer (ETO) is the name given to these initiatives. The steps to issue ETOs include: Register for an account at an exchange. Inform the investors about the commercial terms of the deal. Perform a pre-ETO, and offer leftover tokens to the general public if the private sale did not reach the desired level. Raise debt through DeFi Companies can raise debt through decentralized lending platforms like Aave, Compound, MakerDAO. P2P lending is a decentralized network that allows borrowers to take out loans directly and without the requirement of physical collateral. Collaterals come in a variety of shapes and sizes, and any crypto token can be used to repay a loan. For example, if a user wants to borrow one BTC, he must first deposit one BTC’s price in DAI. Furthermore, the lending protocol enables the lender to profit from interest payments. As a result, Defi has the fastest loan growth rate of all the decentralized applications (DApps) and is the most common contributor for locking crypto assets. Bank with protocols Businesses can access banking services like deposit, send, receive money (in this case, crypto tokens); however, they are convertible into fiat currencies. For instance, Fantom DeFi intends to reconstruct finance by making it more global, open, and accessible, allowing anybody to participate and exchange value without the need for intermediaries. Depositing your cryptocurrency onto a platform that will pay you an APY (annual percentage yield) for it is the most straightforward approach to making a passive income through DeFi. NFTs for early community A non-fungible token (NFT) represents ownership, which is distributed to the community, giving them the right to use it. Communities created around NFTs aren’t only about shared identities; they’re also about shared experiences and interests. The chance to generate more fair access to wealth is perhaps the most significant potential for NFTs. For example, people who previously were unable to invest in or sell their artwork in traditional venues now have the opportunity to do so. The blockchain offers investors of various cultures and backgrounds a unique opportunity to reduce the wealth gap by owning, collecting, and distributing NFTs and other cryptocurrencies. Final Thoughts Despite the mainstream adoption of cryptocurrencies, the future of cryptocurrency is still very much questionable. Critics see nothing but risk, while supporters see nothing but boundless promise. Whether someone supports it or not, seeing the benefits of digital assets for the financial world, crypto is the future, and the virtual currencies that will survive the market’s ups and downs … Continued
Trustedd is proud to announce the release of its limited 3D Art Avatar NFT Collection designed to change the Face of Modern Business and Education.
Trustedd is a new cutting-edge Web 3 Ecosystem dedicated to revolutionizing modern innovation and education by establishing a transparent and validated community that deems one another trustworthy. By doing so trustedd aims to solve misinformation and scams, especially in the crypto and blockchain realm. By creating this unique Gateway into Web 3, trustedd users have the opportunity to build a transparent trustedd score and safely connect with the right people, and find the exact services and products they are in need of within seconds.
To bring this vision to life in the fastest and most decentralized way possible, the trustedd Founding Members Collection will be marked as the foundation of the ecosystem. The Founding Member NFTs will be released on the Ethereum blockchain and come to life as an exclusive membership for the new Ecosystem, available to individuals, businesses, and brands alike who share the values and vision of trustedd. The Genesis Collection is limited to 10.000 Avatars, but there are millions of unique trustedd 3D avatars to come in the future.
"Any holder of the Founding Member NFT, no matter if a person, a business, a brand, or organization symbolizes that he or she wants to foster innovation and the adoption of new technologies through education and collaboration." - Christof Wallner, CEO & Founder
The Founding Members Avatars are created through machine-learning generated 3D Avatars that are both individually unique and come with a functional design. Like a ﬁngerprint, every Avatar has its own uniquely generated design, making it easy to visually distinguish them from another, giving individuals and businesses the option to build a memorable and recognizable brand around their artwork.
To ensure utility trustedd 3D Avatars can be seen as the 'iPhone of NFTs'. Users can utilize their Avatars directly in Metaverses, Conference Calls like Zoom, and in the future even as your private Virtual Assistant as an alternative to current Voice Assistants within the trustedd Ecosystem.
As a demo, the first official trustedd video trailer,'It is time to wake up!' was created with the 3D Avatar which will be available for Founding Member NFT Holders only a few days after the official NFT Sale.
Trustedd will implement a Dutch Auction system to launch its Genesis Collection in March 2022. That will allow the community to set the price of the NFTs. A Dutch Auction is a market structure in which the price of something oﬀered is determined after all bids arrive at the highest price at which the total oﬀering can be sold. The starting price for the auction will be 100 ETH and once the bidding begins, the price of the NFT will decrease by 1 ETH every 8 minutes until it is either sold out or hits the set ﬂoor price of 1 ETH.
The Founding Member NFT sales revenues will be used to build the planned Web 3 ecosystem, while parts of the sales revenue will go towards helping Ukraine. The trustedd ecosystem consists of a Web 3 platform accessible through any browser under trustedd.com and, in the future, of a native Operating System as an alternative to iOS, Android Operating Systems. The ecosystem and its content will then be curated and governed by its users under a legal Decentralized Autonomous Organization (DAO). The generated proceeds from the NFT sale will be secured by an industry-leading Custody Provider. In addition, all transactions will be monitored by Chainanalysis, a leading KYT, to stay compliant with local and global regulations, and safely interact with emerging technology regulations.
Beneﬁts of joining the Founding Members include an exclusive Membership, access to future NFT drops, an airdrop of trustedd's social token $trustedd, early access to contribution rights, new features on the ecosystem, exclusive invites to events, free and discounted Hardware, and much more. To be a part of the Founding Members is to be a part of an inner circle breaking ground on breakthrough innovations and next-gen developments.
Through proof of concept, dedication to innovation, and unwavering commitment to bridging the gap between blockchain technology and mainstream adoption, trustedd's purpose-driven vision can come to fruition with the release of the Founding Members NFTs.
Trustedd is a new and revolutionary ecosystem to easily onboard users into Web 3, which will transform into a Decentralized Autonomous Organization to give control and privacy back to the people. Founded by Christof Wallner, trustedd reimagines how modern business and education function to eﬀectively usher in a new era of transparency, innovation, and trust using blockchain technology.
With decentralized finance exploding in popularity, it only makes sense to look into the projects taking advantage of the movement to create income from crypto lending. One of those projects that has seen massively increased attention and growth in its token value is the Celsius Network, a crypto lending and wealth management platform based on crypto that […]
The term “utility” has been a source of concern for many NFT enthusiasts. The current NFT space has demonstrated a lack of innovation and a disregard for providing utility other than digital artworks being used as profile pictures across social media platforms such as Twitter and having little to no substance beyond that. Most NFT […]
Welcome, Cryptonauts. It looks like It’s everybody’s favourite time of year again: Tax season. 🥳 🙄 It is no secret that tax reporting can be complex, especially for crypto holders, as trying to navigate the constantly changing crypto tax landscape with a lack of a structured taxation framework is an administrative nightmare. Luckily, with the […]
Popular peer-to-peer file sharing service LimeWire will make a comeback on the blockchain. Per a press release, the platform will relaunch as a non-fungible token (NFT) market operating on Algorand. Related Reading | Algorand Blockchain Has Grown 35% In Q1 2022 LimeWire has chosen this community, the discharge claims, as a consequence of Algorand’s alleged […]
Ethereum’s co-founder Joe Lubin says crypto is possibly among the best weapons for Ukraine against Russia with millions in donations pouring in Ukraine to help the country continue its battle so let’s read further in today’s latest cryptocurrency news. Crypto has proven a powerful weapon for Ukraine and the battle against Russia with the crisis […]