Contributors – Startup Fortune https://startupfortune.com Startup News, Guides, Training and Entrepreneur Community Forum Thu, 23 Mar 2023 03:29:52 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.8 https://startupfortune.com/wp-content/uploads/2020/08/ICON.png Contributors – Startup Fortune https://startupfortune.com 32 32 The Convergence of History and Blockchain for Creating a One-of-a-Kind Gaming Experience: Interview with Colin Helm, CEO and Founder of CaesarVerse https://startupfortune.com/the-convergence-of-history-and-blockchain-for-creating-a-one-of-a-kind-gaming-experience-interview-with-colin-helm-ceo-and-founder-of-caesarverse/ https://startupfortune.com/the-convergence-of-history-and-blockchain-for-creating-a-one-of-a-kind-gaming-experience-interview-with-colin-helm-ceo-and-founder-of-caesarverse/#respond Tue, 21 Mar 2023 17:00:48 +0000 https://startupfortune.com/?p=4312 The evolution of society throughout history has been marked by significant changes in customs, laws, and ways of living. The past serves as a valuable repository of knowledge and experience that allows us to learn and draw inspiration from it. In the era of blockchain technology, it has become easier than ever to connect with the distant past and even partake in a process of shaping history.

As a GameFi project, CaesarVerse utilizes blockchain technology to create a virtual world set in the epoch of Ancient Rome. By leveraging the Ethereum blockchain and ERC-721 standard for non-fungible tokens (NFTs), CaesarVerse offers a wide range of in-game assets that can be bought, sold, and traded on various NFT marketplaces. GameFi projects like CaesarVerse offer players an immersive experience that provides the next level of technology-driven entertainment meant for players to enjoy the historically-accurate setting and feel themselves a crucial part in the development of the vast Roman civilization.

However, the CaesarVerse experience is not solely about gaming. The community plays a crucial role in fostering a sense of belonging and being part of the great historical epoch. Players can participate in gladiator fights and collect unique assets that provide enhanced abilities and improved appearances. The core idea behind the platform is ownership, which allows users to truly own their in-game accomplishments and convert them into real-world value. CaesarVerse offers a wide range of in-game assets, including weapons, armor, and gladiator classes, which can be bought, sold, and traded on various NFT marketplaces. 

In this sense, CaesarVerse represents a paradigm shift in gaming towards a more open, community-driven, and value-oriented experience. The platform’s ultimate goal is to empower users to have a tangible impact on the world around them in contemporary times. By blending history, gaming, and blockchain technology, CaesarVerse offers a unique and sophisticated experience that sets it apart from other GameFi projects. 

To learn more about the unique advantages of CaesarVerse.io and how the platform is changing the way we think about gaming and NFTs, we sat down with CEO and Founder Colin Helm for an in-depth interview.  

1. Hi Colin, it’s a pleasure to meet you! Can you tell us about the inspiration behind CaesarVerse.io – what motivated you to choose Ancient Rome as the setting for your game?

I’ve always been fascinated with the vastness and complexity of Roman society, which still has a lasting impact today. With hundreds of years of well documented history, we have a wealth of content for updates and additions to the game. 

2. How does CaesarVerse.io differ from other GameFi platforms, and what unique advantages does it offer to players and investors?

The main advantage of CaesarVerse is the gameplay experience. Players have access to international trade, commodities markets, and a political influence system that all factor into the in game economy. This helps build a much more realistic world with a functioning society.

3. How does CaesarVerse.io leverage blockchain technology to ensure the security and authenticity of its NFTs – and what challenges have you faced in implementing this technology?

Due to the fact that all usable CaesarVerse NFT’s will be minted in-game, we have tight control over the assets and their authenticity.

4. Can you walk us through the various types of NFTs present on the CaesarVerse.io platform?

Currently we are working on an initial gladiator collection for the playable demo. In the future, we will have various cosmetics, chariots, horses, property, and businesses.

5. What role do you see CaesarVerse.io playing in the wider world of gaming and NFTs landscape, and how do you envision the platform evolving in the coming years?

I believe that the CaesarVerse has the potential to revolutionize not just the Web3 gaming landscape, but gaming as a whole. Our approach is to build a quality Web2 game as the foundation and to build the Web3 aspects on top. This focus on gameplay provides an enjoyable user experience and added value through asset ownership. In the future we will add other time periods to our IP, with assets being interchangeable between these games. A Roman gladius could become a katana in a game set in the Sengoku period of Japan, or a scimitar during the Crusades. 

Another key way that the CaesarVerse offers a different approach from traditional Web3 gaming is in education (because CaesarVerse is a historically accurate game). We have a companion tool under development that allows educators to build course curriculum in the game, therefore replacing traditional homework assignments with educational missions. We are looking to not only gamify education, but build immersive classroom environments that completely overhaul traditional learning. We believe gameplay engages the student and is able to demand attention, increasing information retention and providing a more memorable educational experience.

6. Can you talk about any exciting partnerships or collaborations that CaesarVerse.io has in the works, and how these will benefit the platform and its users?

We have multiple potential partnerships in the works with wallets, L1’s and L2’s, prominent Web3 games, historical societies, top universities, and a leading educational software company that I cannot announce just yet. I will announce them as the deals are made official so follow us on Twitter to stay up to date!

7. What do you see as the biggest challenges facing the NFT and blockchain gaming industries in the years ahead, and how is CaesarVerse.io positioning itself to address these challenges?

The greatest impediment to the growth of Web3 gaming is the focus on purely the Web3 native market. Globally, gaming is a $200 billion industry and the intimidating and overwhelming nature of Web3 gaming limits access to this market. The user journey for a Web2 user is tedious and overly complicated, with a curious and potential user having to create a wallet, link a wallet, buy tokens, and buy assets. This is a long and confusing process for someone who just wants to play a game. Our goal is to onboard conventional Web2 gamers to Web3 with a smooth and simple signup process that automatically generates a wallet for them. This will drastically lower the barrier to entry for those who are not Web3 native and are simply looking for an enjoyable gaming experience. If a gamer is familiar with an EA or Ubisoft account, they can easily navigate our onboarding process.

8. How do you think NFTs and blockchain technology will continue to disrupt traditional industries and reshape the way we think about ownership and value?

I believe that ownership of any digital asset you pay for outside of a subscription model is a right. Gamers should not be bound by user licensing agreements to buy in-game cosmetics, characters, or other items that they do not truly own. Blockchain is the clear answer to this problem and we have set out to remedy this issue. I believe that in 2030, all gaming will use blockchain technology to provide players with asset ownership.

9. Can you tell us about any upcoming events or initiatives that CaesarVerse.io is planning, and how interested parties can get involved?

Gladiators will be available in the coming months alongside a demo of the open world and arena combat! Our philosophy is to provide tangible value alongside anything we release and provide players with a taste of what is to come. We will be at NFT NYC and I look forward to meeting anyone with questions, suggestions, or feedback at the convention. We may be in Austin for Consensus and will announce our travel plans in AMA’s and through our channels. 

10. Finally, what advice do you have for aspiring entrepreneurs and developers who are interested in building their own blockchain-based platforms and applications?

Build something you love and be prepared to work! Obviously it is not easy to build a game or application, but passion and dedication are essential to succeed. Go to events and meet as many people as you can, as networking is crucial to finding potential partners and quality team members. Anything worth doing will be difficult, so make sure you have the right people alongside you and focus on the small details that truly differentiate your product or service from the competition. Focus on long term success and not short term profits, as a long term vision is sustainable and will be of much higher value and quality.

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Layer One X Makes Crypto History with Decentralized Cross-Chain Transfer of Assets https://startupfortune.com/layer-one-x-makes-crypto-history-with-decentralized-cross-chain-transfer-of-assets/ https://startupfortune.com/layer-one-x-makes-crypto-history-with-decentralized-cross-chain-transfer-of-assets/#respond Sat, 18 Mar 2023 14:33:22 +0000 https://startupfortune.com/?p=4309 On Friday, March 3, 2023, Layer One X—a revolutionary layer 1 blockchain project—made crypto history by achieving decentralized cross-chain transfer of assets. Prior to this date, blockchain networks had not been able to achieve cross-chain interoperability between  incompatible networks, until Layer One X.  Scheduled for launch on the mainnet in August 2023, Layer One X enables interoperability between EVM (Ethereum Virtual Machine) and non-EVM chains. 

Layer One X is focussed on solving the blockchain quartet—interoperability, security, scalability, and decentralization—and is working to deliver these core features without compromising integrity. The Layer One X team will release a set of NFTs to commemorate and immortalize this historic achievement in the blockchain space. Currently, a private sale round is on and will end on Friday, March 31, 2023. 

Decentralized Cross-Chain Transfer of Assets 

One of the many unique advantages of decentralized cross-chain asset transfer is the elimination of bridges, an expensive and insecure alternative. As the name implies, crypto bridges connect multiple blockchains, allowing developers and users to tap resources from other networks. Until now an essential tool, bridges are vulnerable to attacks. The infamous Ronin and Wormhole hacks, accounting for over 80% of the $1.4 billion funds stolen from bridges in 2022 alone, are substantial proof of the vulnerability of bridges. 

Layer One X’s decentralized interoperability innovation is a game-changer in the industry. First, it has the potential to eliminate the need for bridges, offering developers and end-users scalable, super-secure, faster, and cheaper cross-chain asset transfers. 

Secondly, cross-chain interoperability will open opportunities for developers to create more connected applications, increasing users’ asset choice pool. Finally, Layer One X’s groundbreaking work will unlock avenues for collaborations, creating an interoperable blockchain ecosystem where users can connect, transact, and communicate with other blockchain networks. 

Layer One X introduces higher scalability, speed, and interoperability levels. And will widen the scope for the influx of sustainable business models and new revenue streams for the industry. 

We are excited for the opportunity this presents to allow projects and developers to build asynchronous features on blockchains through a decentralized source of truth,” Kevin Coutinho, founder of Layer One X, had this to say about this innovative cross-chain interoperability. 

A Catalyst for Global Blockchain Adoption 

Layer One X is committed to accelerating blockchain adoption globally, with the introduction of cross-chain decentralized interoperability. By offering the exchange of assets between EVM networks like Binance Smart Chain (BSC), Ethereum, and Polygon and non-EVM chains like Solana. Layer One X is also built to deliver scalability, speed, and security. These core features will directly heighten blockchain adoption on a global scale. 

Kevin Coutinho and his team are working to deliver over 100,000 transactions per second (TPS) and can utilize the world’s 8.6 billion mobile devices to enable micro-validation. This unprecedented consensus mechanism will ensure faster confirmations and higher throughputs. And users will earn rewards based on their contribution to the network. 

We are now focused on bringing generic messaging and event-based interoperability with the same virtual machine in the coming few months that will open markets such as decentralized identification and multi-chain utility,” the founder further revealed. 

Layer One X is positioning itself as one of the most revolutionary blockchain-based projects. Scheduled to launch in August 2023, Layer One X is currently in a private sale round, expected to end on Friday, March 31, 2023.

Through cross-chain interoperability and elimination of the centralized, vulnerable, and expensive crypto bridges, Layer One X will usher in a new era of blockchain ecosystem where users can exchange assets across multiple EVM and non-EVM compatible chains seamlessly.

Tagged with: Layer One X, Kevin Coutinho

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Dubai Crypto Thursdays See New Life Breathed into it, Thanks to TONBanking Founder Marat Minkin, Now Called Dubai Crypto Venture Capital https://startupfortune.com/dubai-crypto-thursdays-see-new-life-breathed-into-it-thanks-to-tonbanking-founder-marat-minkin-now-called-dubai-crypto-venture-capital/ https://startupfortune.com/dubai-crypto-thursdays-see-new-life-breathed-into-it-thanks-to-tonbanking-founder-marat-minkin-now-called-dubai-crypto-venture-capital/#respond Thu, 16 Mar 2023 11:21:15 +0000 https://startupfortune.com/?p=4306 After its last successful run, Dubai Crypto Thursdays has rebranded to Dubai Crypto Venture Capital (DCVC) which better reflects what the recurring events will be about. With a fresh look and more zeal, DCVC’s latest event saw a flurry of hosts and successes.

From Inspiration to Reality

Marat Minkin, the man behind the rebirth, saw that Dubai Crypto Ventures could use a boost, not only in its image but what it should be: about connecting different peoples, startups, and investors so a mutually beneficial atmosphere can be a reality.

The answer was to redefine what the event is all about. According to Marat, the formula worked perfectly,

“When you conduct updates, you always worry whether your audience is satisfied with the result. We did everything to make DCVC different from our previous Crypto Thursdays and any other crypto events. We focused on selectivity, added a bit of art, and broadened the audience” “In my opinion, the reboot was an absolute success.”

DCVC was a resounding achievement that saw more than 50 VCs taking part alongside 100+ investors and a slew of crypto executives.

Connecting and Socializing

DCVC was a high-profile event that had many prominent personalities from the crypto sector attending. The event was aimed to connect startups with the right investors with the mindset of a two-pronged approach towards promoting startups that had the potential to grow and at the same time, bring financial benefits to all.

This was under its Main Stage, where a dozen different startups had the chance to showcase their projects and what they would bring to the world. Out of the 12 different startups (from GameFi to DeFi to Web3) Swipe2Trade was selected as the winner by the panelists. Swipe2Trade will be using investments from VCs and individuals to bring its trading ecosystem to life.

After connectivity, the event had a socializing section called the C-Level, where the VCs, investors, and executives took part. The long list included Marat Minkin himself, CEO OKX Jay Hao, Marwan Alzarouni (CEO, Dubai Blockchain Center), Senior Vice President of Business Development for His Highness Sheikh Faisal Al Nuaimi Group Assem Mansour, and even Jeta CEO Andrey Trubetskoy.

The C-Level section was all about the participants sharing their views on the advantages blockchain and crypto bring to the world.

Tim Gareev, the strategic mascot of Jeta, led the last section, the Art Zone, featuring NFTs from various artists of Charity Kiss, a project that took inspiration from The Kiss, a painting by the famous artist Gustav Klimt.

The event later wound up with a stylish afterparty.

Marat Minkin’s Vision Comes to Life

Marat Mankin is a name that is known across the crypto sphere. He is a prominent crypto proponent and is the founder of TONBanking, a TON network platform that uses Telegram for crypto payment transfers. He is also on board other projects, such as IQ Options (CO-Founder of the derivative trading platform), is head of the TONCOIN Dubai community, and even works as an advisor to the waste recycling platform BantGo.

His vision of how the crypto community should reach out and help each other has come to fruition with DCVC. In the words of his companion and Co-Founder TONBanking Wasim Al Imam,

“DCVC joined together prospective startups and VCs who were looking for reliable investments. It was a purely high-level crypto event that involved even the non-crypto community with its art element. As a result, the startups got a professional point of view and budgets, and VCs found the investment options. Well, everyone profited”

Tagged with: Dubai Crypto Venture Capital, Dubai Crypto,Dubai Crypto Thursdays, TONBanking, Marat Minkin, Gustav Klimt, Sheikh Faisal Al Nuaimi, Assem Mansour, Jeta, Andrey Trubetskoy

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Interview with Co-Founder of Libra Incentix, Andrew Doxsey https://startupfortune.com/interview-with-co-founder-of-libra-incentix-andrew-doxsey/ https://startupfortune.com/interview-with-co-founder-of-libra-incentix-andrew-doxsey/#respond Thu, 19 Jan 2023 11:50:47 +0000 https://startupfortune.com/?p=4300
  • Hi, thanks for joining me for an interview. Could you please introduce and tell a few  words about yourself? 
  • Hi, thank you for having me. 

    I’m Andrew, a tech enthusiast and lover of innovation. I am a co-founder and CEO of Libra Incentix. 

    As current technologies converge, and Web 3 transforms our experience of life, I help businesses strategize, design, and adopt the next generation of commerce and engagement. I led software development teams during a career in IT consulting, and became fascinated by the psychology of business, and passionate about bringing talented people together to pursue a common goal. I am particularly interested in how emerging technologies can propel underdeveloped societies economically.

    1. Which of your previous experience made the most significant part of your career? What  is your experience in real business like? 

    My career has been equally split between working for some of the largest and most prestigious IT consultancies in the world, where I led business critical multi-million dollar project portfolios, and small businesses. I’ve been lucky enough to take part in early stage start-ups, where I learnt to overcome the operational challenges caused by exponential growth, and developed the obsessive persistence that is necessary to succeed in a start-up environment. 

    My experience of business has always been centered around the design and delivery of innovative digital products and cutting-edge platforms that lead to transformational change. I have cultivated partnerships with industry leading companies and held C-level and executive board member positions before co-founding Libra Incentix. 

    1. Please, tell us a bit about your past projects. What were the most interesting and  challenging among those?  

    Prior to Libra Incentix, I consulted for a tech firm called WallPost Company. Our mission was to bring ERP software solutions to SMEs in emerging markets, at a price-point never seen before. Having transformed the delivery methodology, operational structure and global sales initiatives, I become their CEO and advisor to the board. Maintaining morale and navigating the uncertainty caused by the pandemic was a challenge that contributed enormously to my personal growth.

    1. Now, let’s talk about Libra Incentix: could you break down the business model behind your project? 

    Our business model combines blockchain technology with loyalty programs, enabling users to earn loyalty points and utility tokens for participating in tasks that drive brand engagement, via the LIX platform. Our business is designed to form engaging relationships between individuals and brands. People’s identities are massively influenced by the communities they associate with. We’re all driven towards communities that represent us and our values. So forming a community around a brand, and converting customers into members of that community is a sure-way of driving long-term loyalty. Loyal customers are more likely to recommend and actively engage with a brand that they feel part of. 

    1. Moving on, how does the main idea of Libra Incentix help to stand out of the competition? And what makes the Libra Incentix project worth investors’ interest?

    A major cause of resistance to any technology, especially blockchain projects, is their complexity and the user’s lack of understanding. Does the average person have the appetite to learn about most of the crypto projects, enough to appreciate their value? Typically not! But Loyalty programs have been around for 40 years, the average person is enrolled into 14 of them and is very familiar with their purpose. Utilizing the blockchain to provide faster, more secure and transparent loyalty programs requires very little education. 

    Blockchain becomes especially helpful when managing complex coalition models, where companies use a common loyalty point that can be earned from one or many brands, and redeemed in multiple places. The airlines do this extremely well and generate billions of dollars from their loyalty programs. Inside coalition models, loyalty points are earned and redeemed at different values, depending on the rules negotiated with the loyalty provider. Other rules that differ include expiration dates and distribution logic. The more expansive and less restricting the loyalty programs become, the more effort and cost required to manage the reconciliation and settlement. 

    With LIX, smart contracts are used to automate the reconciliation process and can manage the settlement in an indisputable way. 

    1. The fact that you’ve chosen the loyalty rewards as a main business idea tells about the opportunity stored within this market segment. What are the prospects and the market size for decentralized projects within the loyalty rewards area?

    The global loyalty program market is valued at $180 billion in 2022 (E). The market is forecasted to grow at a CAGR of 5–6 percent to $179–191 billion between 2022 and 2026.

    LIX uses fiat-backed loyalty points for brands who are not ready to adopt a tokenized system, but tokens and NFTs will replace them soon enough. The concept of owning your loyalty points rather than borrowing them is interesting to people, especially if their value has the potential to increase. 

    We’re early but we’re not alone on this. BMW recently announced their intention to use a blockchain based reward system. Twitter has confirmed that a virtual coin will be used to reward members on the platform and multiple brands are using NFTs to add virtual value to their products. 

    At Libra we are particularly keen in helping communities grow a more engaged network. This is traditionally important in the retail and restaurant space where our early customers are from. But our concept is applicable to practically any industry and we see hospitality and the build-to-rent industry as a very interesting space for us.

    1. On your website, I’ve noticed many well known brands listed as part of the Libra Incentix platform. How did you convince these big brands to start working with your project?  Also could you disclose some information about upcoming partnerships?

    Our strategy has always been to leverage partnerships with other tech providers or influencers in order to attract mass customers. Our partnership with Tamias POS and the Commercial Avenue e-commerce solution in Qatar meant that our solution was utilized in hundreds of thousands of restaurants during the football tournament, practically overnight. That massive presence made it a lot easier to approach mainstream brands.

    Sorry, we can’t disclose many of our upcoming partnerships, however I can tell you that some world famous sports clubs, global brands and renowned restaurants are on this list!

    1. It would be great to hear more about your native asset – what are the details of the  Libra token sale? Following it, is there a plan to list the asset on any of the public  exchanges?

    LIXX is our native utility token used to power the LIX ecosystem. You trade LIXX like any other cryptocurrency or use it as a loyalty reward through a range of use cases. 

    The crypto markets rely heavily on confidence, when confidence drops as it did last year, the effects can be drastic. Tying crypto to brand loyalty programs can mitigate this risk because they’re adding a tangible, real-world value to a digital asset. 

    1. Finally, how would you describe the future ahead for Libra Incentix? What are your expectations for the next year? 

    Having worked with one of the largest sports events in the world last year, we’re naturally preparing to repeat this in 2023, and already in discussions across Europe and Latin America. Our partnership with Tamias POS has been renewed which now covers the global market – a great start to the year! Each POS or ecommerce platform we partner with will open doors to thousands of customers so it’s a massive part of our growth strategy, this year. 

    We gathered a lot of user feedback since last summer which will shape how we move forward in 2023. Within this quarter we’ll launch Version 2 of the LIX application which will give our brand partners much more control and flexibility with the types of loyalty currencies they chose to distribute and accept. LIXX will be listed on several crypto exchanges and play a more central role in the ecosystem. Later this year our loyalty rewards will include NFTs and third party tokens on multiple chains. 

    Our plan is very clear but we will continue to adapt and pivot, based on what the market is telling us.

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    7 Reasons Why Your Business Needs Press Release Distribution [via] Press Release Network https://startupfortune.com/7-reasons-why-your-business-needs-press-release-distribution-via-press-release-network/ https://startupfortune.com/7-reasons-why-your-business-needs-press-release-distribution-via-press-release-network/#respond Sat, 14 Jan 2023 06:26:08 +0000 https://startupfortune.com/?p=4294 This article was originally published on Press Release Network on their /Tips section.

    Press releases are a powerful marketing tool that can help businesses reach new audiences and grow their brand. By communicating newsworthy events or information about your company, press releases can help establish your business as a thought leader, increase website traffic, generate leads, improve your search engine rankings, build credibility, and gain media coverage.

    Press release distribution can be an effective strategy for promoting your business and growing brand awareness. They offer several key benefits such as:

    • Elevating brand awareness and making your company more visible to potential customers and clients
    • Positioning your company as a thought leader in your industry, thus building trust with your target audience
    • Driving website traffic by including links back to your website
    • Generating leads by including calls-to-action that encourage readers to learn more about your products or services
    • Improving your search engine rankings by including relevant keywords and phrases in the content and meta tags
    • Enhancing credibility and trust through third-party endorsement of your company
    • Securing media coverage in newspapers, magazines, television, and online news outlets. It’s worth noting that these are general suggestions and the best way to determine what will work for your business is to experiment with different strategies and measure the results.

    Press release distribution can be a highly effective method for promoting your business and achieving your marketing objectives. By utilizing press releases, businesses can significantly increase brand awareness, establish themselves as thought leaders in their industry, drive website traffic, generate leads, improve their search engine optimization (SEO), enhance credibility and trust, and secure media coverage. These benefits can enable businesses to reach new audiences, establish their brand, and grow their business. To determine the most effective approach for your business, it’s important to experiment with different strategies and measure the results.

    Tagged with press release distribution, press release network, press release distribution service, best PR service

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    Octopus Network Optimistic about the Business Value of Web3 https://startupfortune.com/octopus-network-optimistic-about-the-business-value-of-web3/ https://startupfortune.com/octopus-network-optimistic-about-the-business-value-of-web3/#respond Fri, 07 Oct 2022 08:38:44 +0000 https://startupfortune.com/?p=4266 Polar extremes tend to dominate discourse regarding the commercial value of Web3. While one side refuses to recognize business value at all (or only recognizes Bitcoin as having value), the other believes Web3 is the next iteration of the internet to inevitably replace Web2 entirely. As usual, the answers lie somewhere in between. 

    The commercial value of Web3 technology may not be visible to the naked eye, but it definitely exists and is expanding daily. Though Web3 hasn’t fully sketched out how people should extricate themselves (and their data) from the walled-garden Web2 platforms they’ve become dependent on for their most basic activities, Octopus Network believes Web3 just needs more time to develop.

    Where did Web3 come from, and why?

    Web3 was born from Bitcoin — and Bitcoin was born from humanity’s eternal push for sovereignty, privacy, and freedom. The ability to move value without an intermediary in a peer-to-peer fashion on a distributed ledger broke open developers’ imaginations worldwide, resulting in the eventual birth of the Ethereum virtual machine and the development of application-layer networks. People realized that if they could transfer value online directly, they could perform other functions without interference from third parties. And the idea of Web3 (coined by Ethereum Co-Founder, Dr. Gavin Wood) was born. 

    DeFi is an alternative financial system.

    DeFi was clearly the first kind of application-layer network to really grab peoples’ attention. But DeFi in a vacuum isn’t sustainable. The assets being traded in DeFi networks must have some other purpose than solely to be traded — this became painfully clear to many during Q2 2022. By itself, DeFi is just an alternative financial system existing on-chain. Financial systems are pointless if they don’t distribute capital for production and economic growth.

    The crypto asset marketplace is massive, with billions in trading volume. 

    This is the foundation that web3 is sitting on. The crypto asset marketplace is massive, with billions in trading volume  — ripe for innovation. But many have argued that current market conditions make innovation too capital-intensive and complex for startup teams and entrepreneurs. They aren’t wrong. 

    It’s much more straightforward to launch a project in favorable markets when investors are searching rather than buckling down — considering the cost of launching a blockchain or an application chain can reach hundreds of millions. So, what are the options for innovators to keep developing during a bull market? 

    Octopus Network is a Web3 breeding ground.

    Octopus Network is a NEAR-based, multichain, Interoperable Network designed to launch and run Substrate-based appchains (with EVM compatibility). Substrate was designed by Polkadot developers as a tool for providing blockchain functionality out of the box. While Octopus has synergy with Polkadot, its market is different. Polkadot parachain auction slots are financially out of reach for most.

    Octopus Network seeks to serve the broader global markets by exposing developers worldwide to Substrate. Few appchain infrastructure projects offer this range of comprehensive support from the ground up — scaffolding developers by providing them with tools and opportunities that allow ideas to breed, ferment, and bubble up to the surface as Web3 solutions.

    Octopus Network offers three tiers of technical support.

    Octopus Network offers Web3 teams support at several levels of the development phase. For example, for appchain candidates building to launch on the Octopus Network, teams are guided by the Octopus Task Force through a local development environment before entering the Octopus Network testnet for auditing. 

    The Octopus Foundation grants 100k in $OCT tokens to its first 100 appchains. $OCT, the native token for Octopus, plays a primary role in its Leased Proof of Stake (LPoS) security leasing market. Appchains that launch in the Octopus Network can lease the amount of security they need and scale as they go.

    Some appchains will inevitably fail, paying out the cost of innovation, but others will succeed, continually enlarging their economic scale. 

    Another area where Octopus Network is actively breeding Web3 business is its Accelerator Program. Octopus runs an open and free quarterly program for young web3 teams serious about learning all facets of Web3 business beyond technology, e.g., branding, tokenomics, network effects, marketing, etc. Each two-month course ends in a competition for five 50k grants. 

    Finally, recognizing that there are far more Solidity developers than Substrate Developers, Octopus Network has decided to turn the world’s developers into Substrate developers. Starting in China and progressing through Malaysia, Vietnam, Nigeria, India, and Mexico, Octopus Network has been training instructors across the globe to run Substrate Developer Training courses in all regions and languages. 

    Even projects at more mature stages that may be struggling during development can benefit by migrating to the Octopus Network. The Octopus Network Technical Support Team is well-rehearsed in cross-chaining and interoperability. They are also developing Substrate IBC to connect to chains like Cosmos, Polkadot, and other IBC-enabled blockchains. Octopus Network even provides tools to support appchains that choose to leave the network to transform into independent blockchains, so their existing cross-chain assets aren’t affected.

    Many web3 startups will fail, but not all.

     

    Octopus Network acknowledges that some appchains will inevitably fail, paying out the cost of innovation — but others will succeed, continually enlarging their economic scale. According to Octopus Network, any Web3 team can apply to start their application chain. Still, it’s ultimately up to the community to decide whether a project launches as an appchain and succeeds. 

    This appears to be baked into Octopus Network’s security leasing design and governance. In fact, the entire structure of Octopus Network seems like a community-fueled appchain factory — spitting out customized application-specific blockchains in the form of whatever business idea survives the community voting queue to surf the waves of market competition. 

    But in crypto, all projects are subject to the laws of the “network effect.” The value of a network increases as the number of users increases. The more users that come, the higher the network’s business value, increasing the token value, drawing more users, etc. The difficulty for young Web3 teams is attracting users, to begin with. As a part of the NEAR and Octopus Network Ecosystems, appchains that launch in the Octopus Network have the advantage of a ready-made audience waiting to be convinced. 

    Octopus Network recognizes that it’s ultimately up to the users to determine the business value of a Web3 application. Therefore, it reasons the more Web3 proposals users are exposed to, the higher the chance of novel Web3 solutions gaining traction and increasing the business value of Web3. Octopus Network is optimistic that community-supported applications will rise to the surface because of the solutions, services, and value they offer users — if Web3 is given the opportunity to develop.

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    Storepay Places a Significant Emphasis on Globalization as One of Its Primary Objectives https://startupfortune.com/storepay-places-a-significant-emphasis-on-globalization-as-one-of-its-primary-objectives/ https://startupfortune.com/storepay-places-a-significant-emphasis-on-globalization-as-one-of-its-primary-objectives/#respond Thu, 29 Sep 2022 05:14:16 +0000 https://startupfortune.com/?p=4263 Storepay is a convenient mobile app that enables users to make installment payments on their purchases over time without being charged any interest. Here is a revolutionary new way to purchase, which has won the hearts of shoppers everywhere around the globe.

    The demand for and usage of SPC tokens has increased dramatically as Storepay brings its services to Southeast Asia’s 676 million clients. In addition, SPC tokens keep getting listed on decentralized (DEX) and centralized (CEX) exchanges.

    Interestingly, on September 29th, Storepay will be listed on LBank. This will be the first worldwide crypto exchange for the company.

    With the worldwide expansion in mind, the team has established Storepay Holding Pte Ltd in Singapore. Since then, they’ve been planning and reorganizing internally for their future global growth.

    Further, the platform has also been working on expanding Storepay services into the Indonesian market since last year. Storepay is now a legitimate enterprise with a robust local staff in Indonesia. Since then, Storepay has moved on to the next phase, which entails securing necessary licenses and approvals and putting its infrastructure together.

    SPC Is a Native Token for Storepay’s Fintech Ecosystem

    The Storepay SPC token is the internal currency of the Storepay Fintech Ecosystem. The token fortifies the company’s business model by making up for flaws in the conventional banking system that prevent it from charging interest on B2C and B2B BNPL services.

    Through an Initial Exchange Offering, Storepay brought Storepay Coin (SPCFIN), a new cryptocurrency built on its current business infrastructure, to the market.

    Notably, SPC is a BEP-20 token on Binance Smart Chain that offers convenient digital payment and purchase bonus options to retail consumers in Mongolia and around Asia.

    With a plan that includes not just Mongolia but also Southeast Asia and the world at large, the SPC team has created a whole ecosystem around SPC, complete with wallet, savings, mining, and incentives features to attract a wider audience.

    Storepay uses SPC to open up access to financial services for millennials and Gen Zers who, under the old system, would have a low credit score since they are less likely to own real estate or other assets that might be used as collateral. In addition to the usage of SPC as an incentive and a means of exchange, SPC can also be used to make and manage financial investments.

    Further, Storepay SPC token’s long-term objective is to become a token with the highest practical and immediate value.

    BNPL Has Gained Considerable Acceptance in the Banking and Payment Sectors

    Research shows that the vast majority of credit card customers routinely pay late fees to their financial institutions. Credit card debts were over 121 million US dollars in 2019, most of which were interest and late penalties.

    The Buy Now, Pay Later (BNPL) financial model was developed to address the aforementioned issues. It has since gained broad acceptance in the financial and payment sectors, resulting in a sea change in consumers’ payment habits.

    Regarding retail financing, BNPL companies are the most digitally native option because of their natural inclination to include user-friendly technologies.

    Most notably, Storepay is launching a cross-border BNPL service for customers planning trips to Korean hospitals for cosmetic and preventative care. For the first time, the world has a token that is both widely applicable and intimately tied to a sizable ecosystem in the fintech sector.

    Storepay’s BNPL service is available to a wide variety of businesses and institutions throughout Asia, not only shops and supermarkets but also medical facilities, hotels, car dealerships, and educational institutions.

    Additional Perks of using the platform

    Shoppers who take advantage of Storepay have more control over their money and may strategically use their funds. They can open an SPC savings account with set deposit conditions, save for the future or in case of an emergency, and receive interest on their money depending on the jurisdiction.

    SPC savings schemes that enable users to save up regularly and additional benefits on purchases made with SPC tokens will help build a more significant demand for SPC tokens.

    Notably, Storepay’s business strategy has provided the team with an environment that includes the retail industry and its 2,000+ merchants, 200,000+active users, and more.

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    How Ukrainian ex-lawyer Olena Chernovolova evolved UATECH into a leading IT company https://startupfortune.com/how-ukrainian-ex-lawyer-olena-chernovolova-evolved-uatech-into-a-leading-it-company/ https://startupfortune.com/how-ukrainian-ex-lawyer-olena-chernovolova-evolved-uatech-into-a-leading-it-company/#respond Wed, 14 Sep 2022 13:56:09 +0000 https://startupfortune.com/?p=4256 Olena Chernovolova, a lawyer and notary from Ukraine, founded the technology holding company UATECH, which engages in creating IT projects, and investments in the sector. In 7 years, the company has grown into a large firm with notable success.

    Olena initially earned a law degree before pursuing a finance degree. She then started her own law business and received a notary license. This allowed for the expansion of relationships since among her clientele were the country’s top IT entrepreneurs.

    A few years later, specific customers started to seek guidance on a bigger scale, such as soliciting investments and facilitating M&A deals. During this interaction, it became clear that Olena could contribute to initiatives not just as a lawyer but also as a significant player in various subjects.

    This is how UATECH, a corporation that combines all of Olena’s interests as a partner in multiple IT enterprises, came to be.

    UATECH’s Early Struggles

    The venture capital market in Ukraine is underdeveloped, making it difficult for a Ukrainian project to attract a round. As a result, most entrepreneurs attempt to depend on their own or their friends’ money while also trying to start making money through dividends as soon as possible. 

    Creating service firms that don’t need such expenditures is another tactic. In Ukraine, there are more service firms than product firms; if the former can only be reduced to a few dozen valuables, there are hundreds of service firms. IT service providers refer to the outsourcing of software developers for US and European customers.

    Analyzing this Ukrainian market trend made it clear that there is already a market for outsourcing firms where it is possible to choose a good or lousy firm and where there are comprehensible measures and multipliers for rating these firms.

    In 2015, Olena started looking for a top company. Unfortunately, only four companies reached the shortlist during the process after over 60 meetings with various firms. Eventually, one of them was ultimately accepted. 

    Alas, she entered the poorest deal because there wasn’t money for a great one at the time. Nevertheless, she rose to become the boss of 350 workers. However, the business was on the verge of collapse. 

    Despite having respectable American clients, the administration was ineffective and had a considerable debt.

    What Set UATECH Apart As a Leading IT Company

    Olena feels that the capacity to locate the proper partners, acquire money for initiatives, and not overestimate the market are all necessary jigsaw pieces that must be assembled daily.

    Following successful transactions with reputable customers, this firm could get enough financing, land some sizable clients, and staff up competent management to handle the operations, all of which contributed to its eventual sale three years later for multiples of its initial investment. Since then, UATECH’s self-assurance has led them to pursue similar deals, this time only with service providers.

    UATECH Nowadays

    UATECH is now home to more than a dozen companies, which together employ around 2,000 people. Most of these companies are cash cows with modest capitalizations, but they generate enough liquidity to fund new business deals to acquire or develop projects. 90% of the workforce is still concentrated in Ukraine, even though the projects operate globally, and certain verticals are already starting to grow even faster.

    To the question: “Does a legal background help you”, Olena replies: “I am often considered a nominal owner in my companies since I am a lawyer and often lawyers or former lawyers act as nominee directors for their clients, each time I have to convince banks and other institutions in the opposite, this is the most fun part of my job.”

    All UATECH partners cite Olena’s impeccable reputation as the primary reason for the holding’s booming growth. Notably, UATECH’s headquarters is in Cyprus.

    About UATECH

    UATECH is a team of serial entrepreneurs who both help founders launch their companies or invest in existing companies by helping them scale. They bring people, ideas and expertise together to put valuable products on the market. UATECH seeks high-potential IT projects with great founders who are in need of hands-on assistance and investment. By complementing each other’s skills, they strive for mutually beneficial results.

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    Audiolox Moves the Music Business Market towards Decentralization https://startupfortune.com/audiolox-moves-the-music-business-market-towards-decentralization/ https://startupfortune.com/audiolox-moves-the-music-business-market-towards-decentralization/#respond Fri, 09 Sep 2022 05:25:47 +0000 https://startupfortune.com/?p=4249 Web2 applications have placed ease of use ahead of user data security, which has kept many users at risk. For example, traditional music platforms store audio files in third-party databases, making them vulnerable to hacks that have resulted in significant financial losses for the music world.

    To bring about a turnaround, the Alox Token team had these concerns right from the start of their project to make the music industry decentralized. Hence, the emergence of Audiolox.

    The original idea for Audiolox was to create a blockchain streaming application. The Audiolox team, on the other hand, witnessed how difficult it was for artists to meet commitments with the plethora of record labels and streaming behemoths.

    Audiolox’s creative concept combines high security and transparency with “Like” internet streaming features. Remarkably, this was accomplished by fusing blockchain technology with artificial intelligence.

    The First Completely Safe, Quick, and Eco-Friendly Music Platform

    Primarily, existing music platforms mine user data and target advertising, resulting in a meager revenue stream for the music industry.

    Notably, the Alox Token project’s overarching goal is to restructure the music industry to distribute benefits fairly among listeners, creators, and service providers.

    A novel AI framework developed by Loxsync Technologies forms the basis for Audiolox. The Ai’s neuromorphic brain is equipped with nano optic technology, enabling it to exchange information with its neural network and particle data environment.

    Among the perks, a real-time client management system, internal banking, data monitoring, and on-demand security are all features of the neuromorphic AI brain. This revolutionary system is contrary to today’s traditional data storage, which has several drawbacks and incurs hefty maintenance costs that may reach billions of dollars yearly.

    In addition, due to its infinite resources across the neural gates at light speed, Audiolox’s Ai to Ai optic nanoparticle data utilizes a tiny portion of that. Every three to five seconds, the AI creates an algorithm to remove any data that may be read or played, leaving the remaining information passive.

    Enjoy Your Favorite Songs Everywhere You Go

    The music industry’s underlying infrastructure has seen better days and must be updated. However, this endeavor aims to reform the present music industry so that all parties involved, from listeners to performers, share in the financial gains on an equitable basis.

    Have you ever been without a signal and unable to listen to music? It happens everywhere, but it’s a different story with Audiolox. Because there are no files to stream once you have placed your chosen song or music video into your library online, you can now play them offline and enjoy your favorite songs wherever you are, even offline.

    In addition, Audiolox users will benefit from their unique involvement, rating contribution, and chart development.

    Some Other Perks of the Platform

    It is impossible to hack into Audiolox’s non-binary system, which means your privacy is protected, and your royalties could increase by 700%. In addition, cutting-edge technology prevents streaming and guarantees private listening.

    Impressively, payments to musicians return right away once a song is acquired. This first ecologically friendly music application also allows offline music playback with no data consumption or storage on mobile devices.

    When it comes to music, Audiolox is coming to the limelight. As the library grows, more genres and regions will be represented, including but not limited to Rock, Alternative Rock, R&B, Hip Hop, Rap, EDM, K-Pop, and more. Additionally, the Audiolox app can get downloaded through the Apple App Store and the Google Play Store.

    The significant decision-making component of Audiolox will eventually migrate to the DAO, transforming it into a community-driven project.

    The Audiolox Ecosystem Runs On the Utility Token ALOX

    Owners of ALOX tokens are a member of the decentralized organization that governs Audiolox and have the power to influence the platform’s growth by establishing standards for the most well-liked artists and songs.

    The premium in-app things, such as individual subscriptions and online merchandise, may be bought using the in-app tokens and can be gifted to other subscribers.

    Additionally, ALOX owners are permitted to stake tokens in several staking pools. There will be several such chances made available by the team.

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    StarSwap, the fastest dex on Astar Network is listed on CoinMarketCap https://startupfortune.com/starswap-the-fastest-dex-on-astar-network-is-listed-on-coinmarketcap/ https://startupfortune.com/starswap-the-fastest-dex-on-astar-network-is-listed-on-coinmarketcap/#respond Tue, 02 Aug 2022 07:58:37 +0000 https://startupfortune.com/?p=4243 StarSwap the first decentralised exchange with nft governance native to Astar Network is listed on CoinMarketCap, the leading source for crypto news, coin stats and cryptocurrency tracking.

    Astar Network is the fastest growing defi ecosystem on the Polkadot defi space.

    Link to the star swap listing: https://coinmarketcap.com/currencies/starswap/

    It is only a week ago Dapp Radar and DefiLlama also listed the project.

    https://defillama.com/protocol/starswap

    https://dappradar.com/astar/exchanges/starswap

    Twitter: StarSwap

    Discord: discord.gg/dqyJQ7gUkb

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