Tag: Blockchain

betconstruct-introduces-revolutionary-game-built-on-blockchain-technology

BetConstruct Introduces Revolutionary Game Built on Blockchain Technology

May 17, 2023 Published by
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BetConstruct presents Alligator Validator – the first-ever game entirely based on blockchain technology.

Alligator Validator, the one-of-a-kind game where all transactions are made using blockchain technology, is promised to be among the biggest innovations in the current iGaming market. The game is an explosive combination of fresh and vivid graphics, cutting-edge game mechanics and brand-new payment systems built on blockchain technology.

The blockchain technology adds extra security and transparency to the game – not requiring any centralised third parties to control the flow of funds and being processed independently by the smart contracts.

It is also a perfect addition for all Bahamut validators, as it gives an opportunity to improve validators’ positions and earn block rewards for helping to secure the network. Validators play an important role in securing the network by showing activity and validating blocks using the PoSA consensus mechanism. Thus, validator-partners who enable the game on their platforms not only add a unique and thrilling game to their catalogue but also maximise their ROI.

BetConstruct believes the innovation will shape the future of the iGaming market and make crypto games more accessible to a larger audience. Thanks to its fresh and distinctive premise, Alligator Validator will breathe new life into the player experience and help partners earn huge rewards for helping secure the network.

Add the game to your catalogue, and don’t miss the chance to become one of the first to encounter the new reality of iGaming!

near-foundation-and-airchains-join-forces-with-sankalptaru-foundation-to-boost-accountability-in-tree-plantations

NEAR Foundation and Airchains Join Forces with SankalpTaru Foundation to Boost Accountability in Tree Plantations

May 11, 2023 Published by

 

SankalpTaru Foundation, a non-profit organization dedicated to promoting sustainable living and biodiversity conservation, announced today that it is partnering with NEAR Foundation, the non-profit that supports the on-going growth and development of the NEAR Protocol, a high-performance, low cost  and super scalable carbon-neutral blockchain, and Airchains to transform the tree plantation ecosystem with blockchain technology. By using NEAR Protocol along with Airchains‘ cutting-edge web3 middleware SaaS solution,  SankalpTaru Foundation is making tree plantations more transparent, traceable, and accountable.

Preserving the environment has emerged as one of the key goals globally as climate change, adverse environmental conditions, pollution, greenhouse emissions, and more are impacting planet earth every day. Around 10 million hectares of forest is cut down every year to provide land for housing and urban development. Governments worldwide are making conscientious efforts to promote environment conservation, eco-friendly measures, reduce carbon footprint, and employ carbon offsetting initiatives such as tree plantation, reforestation, renewable energy usage, recycling, etc. To accomplish these sustainability goals, funds are released frequently by governments to ensure environmental conservation awareness and preservation, yet corrupt practices trickle through that inhibit the progress immensely. Practices such as illegal logging, illegal trade, poaching, misuse of public funds, fraudulent reports, and the like, are still existent and rampant in the sector.

SankalpTaru Foundation, one of India’s leading IT enabled NGOs, has recognized the potential of blockchain to enhance transparency, traceability, and accountability in tree plantation operations. NEAR Protocol will allow SankalpTaru Foundation to create tamper-proof digital records of each tree planted, including its species, location, and growth status. This will enable the foundation to monitor the progress of its tree plantation initiatives in real-time, ensure compliance with environmental regulations, and track the impact of its efforts on biodiversity and carbon sequestration.

Airchains’ web3 middleware SaaS, on the other hand, will enable SankalpTaru Foundation to automate the payment and delivery of goods and services to its stakeholders, such as seed suppliers, nurseries, and farmers. Airchains’ middleware will integrate with NEAR Foundation’s blockchain to ensure secure and transparent transactions, reducing the risk of fraud and corruption. Donors can track their contributions and follow the progress of each planted tree through geolocation and geofencing. This pioneering move will not only provide real-time data for each tree but also enable better monitoring of plantation density in specific areas, fostering a sustainable and greener future.

“SankalpTaru was started with a group of nature enthusiasts dedicated to becoming the medium between technology and green environment. With over 5 million trees planted, recorded, and tracked, having covered 26 states and UTs in India, we are still on our journey to making the planet greener. By incorporating blockchain technology into our ecosystem, we wanted to enable trust, transparency, and accountability for our donors and provide an exclusive unique experience to them. Through this immutable technology, the increased trust in our process and accountability will further our cause for greenery. Along with that, donors can also track various stages of the tree plantation process and track their contributions.”  Apurva Bhandari, Founder, SankalpTaru

“Partnering with SankalpTaru Foundation in their endeavor to ensure a greener planet and promote a more sustainable and equitable world by aiding them with our cutting-edge blockchain infrastructure has been an exciting experience. Through flexible and seamless integration, we have created a trustworthy environment for the donors which is tamper-proof and fully transparent and ultimately we hope this would increase the conversation around how blockchain technology could be incorporated into the environment sector to ensure secure tracking, recording, and documentation, and that this technology still has considerable untapped potential.” Ankur Rakhi Sinha, Co-founder and CEO, Airchains

The donations made to the foundation are used for different activities undertaken to sustain the environmental efforts and support local farmers. They also have Gramyumm, an initiative organized by them to uplift rural communities through e-commerce and hosting their produce for sale on the foundation’s website.

“NEAR Foundation has been at the forefront of supporting Indian innovations and contributing to a better future. Our scalable and developer-friendly blockchain platform will enable SankalpTaru Foundation to create innovative solutions that drive positive social and environmental impact. With this integration with SankalpTaru and Airchains, which is a novel sustainable technology initiative, we are expanding our scope to include new industries that have not yet utilized blockchain to the best of its offerings and want to nurture that growth as the technology continues penetrating more sectors.” Arpit Sharma, Managing Director, India, SE Asia, and Middle East for the NEAR Foundation.

amber’s-blockchain-games-vertical-partners-with-lamina1-to-join-early-access-program-to-accelerate-next-generation-gaming-in-the-open-metaverse

Amber’s Blockchain Games Vertical Partners with LAMINA1 to join Early Access Program to Accelerate Next-Generation Gaming in the Open Metaverse

May 11, 2023 Published by
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LAMINA1, the Layer 1 blockchain built for open metaverse creators, adds more gaming expertise to its Early Access Program (EAP) with game development agency Amber. Known for producing games with media and entertainment titans like Animoca, Disney, Sony, and Epic Games, among others, Amber will now bring its creative expertise to the metaverse with the LAMINA1 blockchain via the Amber Merlin Blockchain Game Studio.

Amber created Merlin Studio to enhance the Web3 gamespace by taking advantage of its extensive game development know-how to create immersive and innovative Metaverse and Blockchain experiences. With several promising projects in development and multiple teams of hybrid Game & Web3 professionals, the Merlin studio is on the leading edge of blockchain game development.

Established in Spring 2023, the LAMINA1 EAP supports developers, researchers, and organizations as they develop, test, and refine their projects on LAMINA1. In addition to accessing future Testnets, developer kits, and more, EAP partners are provided a direct line of communication to LAMINA1 to receive guidance and to solicit ongoing feedback as they perfect the tooling and interface of the open metaverse within the LAMINA1 ecosystem.

Amber Merlin Studio is among the first wave of developers joining the LAMINA1 EAP following its initial launch earlier this year. With nearly 1,200 game developers, producers, and industry leaders at the fold of gaming experiences, this partnership marks a major advancement in Amber’s Blockchain Game Vertical, which uses a variety of blockchain technologies and game engines across multiple studios to explore the exciting new Metaverse of decentralized games.

Along with its participation in the EAP, Amber Merlin Studio will explore using the LAMINA1 blockchain with an original title in tandem with the launch of the LAMINA1 Mainnet. This stealth project combines blockchain, AI and composable Metaverse concepts in an exciting new transmedia IP. More details will be shared in the months to come.

“As huge fans of Neal Stephenson’s books and vision for the Metaverse, we are excited to partner up to explore and expand the Lamina1 ecosystem by applying Amber’s veteran game development skills to create the future of entertainment on all platforms,” said Marty Caplan, Amber’s Head of Blockchain Games, a 25 year games industry veteran with experience at Zynga, EA, Sega, and Pixar.

Since launching in Q1 of 2023, EAP has received over 500 applications from individuals and companies building in the open metaverse. LAMINA1 will continue to induct Early Access Partners as they move toward the launch of Betanet and Mainnet, both expected this year.

“Amber is in a very unique position for a game development studio. They have the proverbial 10,000 hours of making great games for many of the major game publishers and media companies – and are now also building a robust blockchain games portfolio,” said Jamil Moledina, VP Games Partnerships & Media at LAMINA1. “They’ve put in the work scaling fun experiences to large audiences, which syncs perfectly with our vision of where the open metaverse needs to be as the next generation Internet for everyone.”

real-estate-tokenization-market-booms-with-impressive-cagr-of-19.8%:-new-report-reveals-robust-growth-in-property-tokenization-industry-–-prophecy-market-insights

Real Estate Tokenization Market Booms with Impressive CAGR of 19.8%: New Report Reveals Robust Growth in Property Tokenization Industry – Prophecy Market Insights

May 9, 2023 Published by

 

Real Estate Tokenization is the procedure of converting real estate value assets in digital tokens on block-chain to enable ownership and digital transfer.

The growing need to protect sensitive data by adhering to PCI DSS rules, as well as an increase in the number of payment frauds has contributed to the growth of the Real Estate Tokenization market. Wide applications in compliance management, user authentication and payment security is anticipated to increase the demand for Real Estate Tokenization market in future.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report Includes:

  • 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
  • 115+ Pages Research Report (Inclusion of Updated Research).
  • Provide Chapter-wise guidance on Request.
  • 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
  • Includes Updated List of table & figures.

Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Market Dynamics:

Real estate tokenization is a relatively new concept that involves using blockchain technology to fractionalize ownership of real estate assets. The market for real estate tokenization has been rapidly growing in recent years, as it provides several benefits to real estate investors, including increased liquidity, reduced transaction costs, and access to a broader pool of investors. One of the primary industry dynamics driving the growth of the real estate tokenization market is the increasing demand for alternative investment opportunities. Traditional real estate investment opportunities can be costly, illiquid, and require significant capital investments. Real estate tokenization allows investors to purchase fractional ownership in real estate assets, reducing the capital requirements and increasing accessibility to a broader pool of investors.

Another factor driving the growth of the real estate tokenization market is the increasing adoption of blockchain technology. Blockchain technology provides a secure and transparent method of tracking ownership and transferring assets, making it an ideal platform for real estate tokenization. Additionally, the use of blockchain technology reduces the need for intermediaries, which can help reduce transaction costs and improve the efficiency of the real estate investment process. One of the challenges facing the real estate tokenization market is regulatory uncertainty. Many countries have yet to establish clear regulations regarding real estate tokenization, creating a challenging environment for market participants. However, as the market continues to mature, regulators are expected to provide clearer guidelines, providing greater certainty for investors and market participants.

Overall, the real estate tokenization market is expected to continue to grow in the coming years as more investors seek alternative investment opportunities and the adoption of blockchain technology continues to increase. While regulatory challenges remain, the benefits of real estate tokenization are significant, and the market is expected to mature as regulations become clearer.

Key Highlights:

  • In March 2023, CoFund launched new and first Real Estate Tokenization Project with innovative investment of $10,000,000 in valuable 4-star hotel in Bali, Indonesia. Tokenization will provide various advantages such as liquidity, fractional ownership, lower barriers to entry, transparency, high potential returns and diversification.
  • In January 2022, Realbox launched new and world’s first blockchain-based Real Estate Tokenization platform which enable real estate ownership to be subdivided through tokenization and to provide opportunity to retail investors to share ownership in real estate investment globally.

Growth Drivers:

There are several drivers of growth in various industries, including:

  • Technological advancements: Advancements in technology can create new opportunities for businesses to improve their products or services, streamline processes, and reduce costs. For example, the growth of e-commerce has been driven by advancements in online payment systems, logistics, and mobile technology.
  • Demographic shifts: Changes in demographics, such as an aging population or increasing diversity, can create new markets and opportunities for businesses. For example, the aging population in many countries has led to an increase in demand for healthcare services and products.
  • Economic factors: Economic factors, such as interest rates, inflation, and consumer confidence, can impact consumer spending and business investment decisions. For example, low interest rates can make it more attractive for businesses to invest in new projects or expand their operations.
  • Globalization: Globalization has created new opportunities for businesses to expand their customer base and access new markets. This has been facilitated by advancements in transportation and communication technology.
  • Regulatory changes: Changes in regulations or policies can create new opportunities for businesses that are able to adapt to the new environment. For example, the legalization of marijuana in some countries has created new markets for cannabis-related products and services.
  • Environmental concerns: Growing awareness of environmental issues and the need for sustainability has created opportunities for businesses that are able to provide environmentally-friendly products or services.

Overall, growth drivers can vary depending on the industry and the specific business. However, businesses that are able to identify and capitalize on these drivers are more likely to experience sustainable growth over the long term.

Growth Restrains:

Just like there are drivers of growth, there are also factors that can restrain growth in industries. These may include:

  • Economic factors: Economic factors such as recessions, inflation, or a slowdown in consumer spending can have a significant impact on businesses and their ability to grow.
  • Regulatory constraints: Regulations or policies that limit or restrict business activities can be a significant constraint on growth. For example, environmental regulations can limit the use of certain materials or require additional investment in new technology.
  • Competition: Competition can constrain growth by reducing profit margins or making it more difficult to enter new markets. Intense competition can also force businesses to invest heavily in marketing and advertising to maintain their market share.
  • Resource limitations: Businesses may be constrained by limited resources such as funding, skilled labor, or raw materials. These limitations can make it difficult to expand operations or invest in new projects.
  • Technological limitations: Technological limitations can prevent businesses from taking advantage of new opportunities or adapting to changes in the market. For example, businesses that are slow to adopt new technologies may struggle to compete with more agile competitors.
  • Legal challenges: Legal challenges such as lawsuits or patent disputes can be a significant constraint on growth. These challenges can be costly and time-consuming, and may limit a business’s ability to invest in new projects or expand into new markets.

Overall, there are many factors that can constrain growth in industries. Businesses that are able to identify and mitigate these constraints are more likely to experience sustainable growth over the long term.

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Analyst View:

Increasing implementation of tokenization in various industrial applications has become key factor in market growth. Wide benefits of tokenization technology in various industrial sectors is expected to fruitful the demand for Real Estate Tokenization market over the forecast period.

Opportunities:

Real estate tokenization presents several opportunities for the real estate industry and investors. These include:

  • Increased liquidity: Tokenization allows for fractional ownership of real estate assets, which can increase liquidity in the market. This means that investors can buy and sell smaller portions of a property, making it easier to enter or exit a market.
  • Access to new investors: Tokenization allows for the democratization of real estate investing, making it accessible to a wider range of investors. Smaller investors who previously could not afford to invest in real estate can now participate in the market.
  • Efficiency: Tokenization can make the process of buying and selling real estate more efficient by reducing paperwork, transaction costs, and the need for intermediaries.
  • Transparency: Blockchain technology used in real estate tokenization provides greater transparency and security in the transactions. The immutability of blockchain technology ensures that all parties have access to accurate and secure information.
  • Global reach: Tokenization allows for real estate assets to be offered to investors from different parts of the world, thereby increasing the global reach of the real estate market.
  • Diversification: Tokenization allows for the creation of diversified portfolios of real estate assets, reducing risk and providing investors with a wider range of investment options.

Overall, real estate tokenization presents several opportunities for the industry and investors, including increased liquidity, access to new investors, efficiency, transparency, global reach, and diversification. These opportunities are likely to drive growth in the real estate tokenization market in the coming years.

Challenges:

While there are several opportunities in the real estate tokenization market, there are also some challenges that need to be addressed. These include:

  • Regulatory challenges: The real estate industry is heavily regulated, and tokenization may be subject to additional regulatory oversight. This can create challenges for businesses that want to enter the market and may increase compliance costs.
  • Lack of standardization: The lack of standardization in the real estate tokenization market can create challenges for investors and businesses. The absence of uniform regulations or guidelines can lead to confusion and make it difficult to compare different tokenized assets.
  • Security concerns: The use of blockchain technology in tokenization provides increased security, but it is not foolproof. Hackers or cybercriminals could attempt to breach the blockchain and steal digital assets or sensitive information, creating potential security concerns.
  • Technical challenges: The use of new and complex technologies in tokenization, such as smart contracts and decentralized platforms, can create technical challenges for businesses and investors. These challenges can include technical glitches, system failures, and the need for specialized expertise.
  • Limited investor awareness: Tokenization is a relatively new concept, and many investors may not be familiar with the process or the potential benefits. This lack of awareness can make it challenging for businesses to attract investors to the market.
  • Liquidity challenges: While tokenization provides increased liquidity, there may still be challenges in finding buyers and sellers for tokenized assets. This may be due to a lack of awareness or limited investor interest in the market.

Overall, the real estate tokenization market faces several challenges that need to be addressed to fully realize it’s potential. These challenges include regulatory hurdles, lack of standardization, security concerns, technical challenges, limited investor awareness, and liquidity challenges.

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You can also check out some of the Top-Selling Related Research Reports:

  • Real Estate market accounted for US$ 2768.43 million in 2020 and is estimated to be US$ 6270.53 million by 2030 and is anticipated to register a CAGR of 8.2%.
  • China Commercial Real Estate Market worth US$ 723.51 billion in 2024 with a CAGR of 6.15%
  • Tokenization Market accounted for US$ 2.74 billion in 2022 and is estimated to be US$ 18.50 billion by 2032 and is anticipated to register a CAGR of 21.3%.

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hut-8-mining-production-and-operations-update-for-april-2023

Hut 8 Mining Production and Operations Update for April 2023

May 9, 2023 Published by

 

Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company”) one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, mined 132 Bitcoin in the period ending April 30, 2023.

Production highlights for April 2023:
  • 132 Bitcoin were generated, resulting in an average production rate of approximately 4.4 Bitcoin per day.
  • Total balance of unencumbered Bitcoin held in reserve as of April 30 is 9,265.
  • Installed ASIC hashrate capacity at our Alberta facilities was 2.6 EH/s at the end of the month.
  • Hut 8 produced 50.77 BTC/EH in April.
  • No Bitcoin were sold during the month.
Operational highlights:
  • Remediation at our Drumheller, Alberta site progressed throughout the month:
    • High energy input levels at the site have been causing equipment failures that have materially reduced operations, which are currently at approximately 15% of our installed hashrate at the site.
    • In response, we began implementing firmware across all miner models designed to lower the power supply’s maximum output voltage, ensuring our equipment operates within safe limits.
    • Our team is actively engaged in repairing damaged equipment and restoring the hashrate to its optimal level.
    • We are closely monitoring the situation and will continue to make the necessary adjustments as needed to restore, safeguard, and optimize our equipment.
    • We are actively increasing repair staff, adding an additional repair centre shift, and have procured new hardware to expedite repairs and accelerate the speed at which we bring miners back online.
    • We expect to have the site restored in 10-12 weeks.
  • Spikes in energy rates have created additional headwinds at Drumheller.
  • Our team is actively pursuing options to operationalize the bulk of the approximately 7,000 miners that were removed from our North Bay site.

“We are very aware of the impact that the issues at Drumheller are having on the broader business: they are complex and challenging, but we have made meaningful progress and have a roadmap to remediation,” said Jaime Leverton, CEO of Hut 8. “We are laser focused on closing the proposed transaction with US Bitcoin Corp., which will both expand our overall production to 7.02 EH/s and provide access to additional energy markets.”

leading-automotive-and-sustainability-executives-join-etuktuk-as-advisors-to-promote-sustainable-transport

Leading Automotive and Sustainability Executives Join eTukTuk as Advisors to Promote Sustainable Transport

May 9, 2023 Published by

 

eTukTuk, a blockchain-based electric vehicle (EV) and charging station ecosystem, today announces the appointment of three prominent executives to its Board of Advisors.

Joining the Board of Advisors is a group of leaders in the automotive and sustainability spaces including Niro Cooke, Group Director on the Main Board of Capital Maharaja; Sheran Fernando, Co-Founder of InnoSolve Lanka; and Dimantha Jayawardena, President of SLACMA, the Sri Lankan Automotive Component Manufacturers Association.

The advisors boast unmatched professional experience across multiple disciplines and industries including the development of large-scale government infrastructure and energy projects, the formulation of mobility policy in Sri Lanka, and at the highest levels of government. The advisors will be responsible for working directly with the eTukTuk team as it continues to develop its sustainable and accessible network of charging stations and electric vehicles within Sri Lanka, where the project is set to launch later this year.

Niro Cooke, Group Director on the Main Board of Capital Maharaja, will provide the team with knowledge in navigating Sri Lanka’s current electric vehicle infrastructure. Cooke said: “eTukTuk is redefining transportation in the developing world. Creating incentives for people to make the switch from Zero Emission Vehicles (ZEVs) to EVs is the next step in achieving wide-scale EV adoption. At Capital Maharaja, we believe in having the courage to be different; working with a company like eTukTuk which shares this ethos aligns well with our values.”

Sheran Fernando, Co-Founder of InnoSolve, will bring expertise in the digitalisation of mobility and a distinguished voice in the formulation of mobility policy in Sri Lanka. Commenting on his appointment, Fernando said: “Having worked in both the mobility and sustainability industry for many years, I’m looking forward to bringing my knowledge of the local transport sector to eTukTuk as it rolls out its sustainable and accessible transportation solution in Sri Lanka.”

Dimanta Jayawardena, President of SLACMA, the Sri Lankan Automotive Component Manufacturers Association, will support the team with his prior experience in navigating the Sri Lankan transport and manufacturing system, thus delivering an improved one. Jayawardena commented: “eTukTuk and I share a vision for Sri Lanka’s transport and manufacturing system and together we’re committed to delivering the best transportation and manufacturing system possible to the drivers and users of TukTuks – and electric vehicles across the country. I believe this journey with the eTukTuk team will make a real difference to the transportation system as we know it.”

eTukTuk’s Chief Information Officer, Seth Ward said: “Cooke, Fernando, and Jayawardena’s participation in the development of eTukTuk will help contribute to the expansion of the project, and be of tremendous value to our team as we gear up to launch our network in Sri Lanka later this year.”

Seth Ward, Chief Information Officer at eTukTuk, Niro Cooke, Group Director on the Main Board of Capital Maharaja, Sheran Fernando, Co-Founder of InnoSolve Lanka, and Dimanta Jayawardena, President of SLACMA, are available for interview.

okx-ventures-announces-investment-in-cetus-protocol

OKX Ventures Announces Investment in Cetus Protocol

May 2, 2023 Published by

 

OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced an investment in Cetus Protocol, a pioneer DEX and concentrated liquidity protocol built on Sui and Aptos.

The mission of Cetus is to build a powerful and flexible underlying liquidity network to make trading assets easier for Sui and Aptos users. The protocol aims to deliver the best trading experience and superior liquidity efficiency to DeFi users via its concentrated liquidity protocol and a series of affiliate interoperable functional modules.

“With the support of OKX Ventures, Cetus will gain extensive access to a wider Web3 user base and break through the boundary between on-chain and off-chain space,” said Henry Du, Co-founder of Cetus.

Dora Yue, Founder of OKX Ventures, said: “We’re very pleased to make this investment in Cetus. When it comes to the construction of the public chain ecosystem, we are optimistic about the Move language, which has the potential to build an ecosystem similar to Solidity. Cetus is the first UniV3-like AMM liquidity protocol in the Move ecosystem, providing DeFi users with a better trading experience and higher capital efficiency. OKX Ventures looks forward to supporting the project.”

hut-8-provides-update-on-business-combination-with-usbtc

Hut 8 Provides Update on Business Combination with USBTC

April 27, 2023 Published by

 

Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), (“Hut 8” or the “Company”) one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, continues to make progress on the proposed business combination pursuant to which Hut 8 and U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC”) will combine in an all-stock merger of equals (the “Transaction”). The combined company will be named “Hut 8 Corp.” (“New Hut”) and will be a U.S.-domiciled entity. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.

New Hut has filed an amendment to its Form S-4 Registration Statement (the “Amended Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”). As disclosed in the Amended Registration Statement:

  • New Hut’s expected installed self-mining capacity has increased from the previously disclosed 5.6 EH/s to 7.02 EH/s at mining facilities in Medicine Hat and Drumheller in Alberta; Niagara Falls, New York; Kearney, Nebraska; and Granbury and King Mountain, Texas upon the close of the Transaction. The improvement is due to the energization of additional miners at USBTC’s sites.
    • The 1.7 EH/s installed self-mining capacity at the King Mountain, Texas site is owned by the King Mountain Joint Venture in which USBTC has a 50% membership interest alongside a leading energy partner.
  • On April 7, 2023, USBTC entered into a settlement with the City of Niagara Falls which concluded all claims related to the ongoing litigation with the City and terminated the temporary restraining order against USBTC. USBTC was required to pay the City of Niagara Falls a $100,000 compliance fee and contribute $180,000 to the city’s attorney’s fees.
    •  USBTC is currently working with City officials to confirm safety procedures prior to resuming mining activity.

“Since announcing the transaction, we have made measurable progress on key files that will positively position New Hut to be very competitive in the market with 7.02 EH/s of self-mining capacity,” said Jaime Leverton, CEO of Hut 8. “In addition, we will have flexibility for growth in new fiat revenue lines of business including hosting and managed infrastructure operations, allowing us to amplify our diversification strategy, which will ultimately prove to be prescient well beyond the next halving.”

Completion of the Transaction remains subject to the remaining regulatory approvals, shareholder approval, court approval, and other customary closing conditions of the transaction.

web-30-market-to-hit-$49.10-billion-by-2030:-cognitive-market-research

Web 3.0 Market to Hit $49.10 Billion by 2030: Cognitive Market Research

April 27, 2023 Published by

 

The Global Web 3.0 Market size is valued at USD 3.34 Billion in 2022 and is projected to be USD 49.10 Billion by 2030, growing at a CAGR of 46.7% from 2023 to 2030, as per a recent report published by Cognitive Market Research. Web 3.0 infrastructure enhances the user experience by providing highly interactive advertising opportunities. Hence, companies are investing and raising funds to accelerate their Web 3.0 platform. For instance, Livepeer has raised $20 Million for a Series B extension, which will accelerate the growth of Livepeer’s Web3 infrastructure.

Major findings during the study of the Web 3.0 Market:

  • The Web 3.0 blockchain market is primarily driven by the benefits of decentralized systems to provide greater security, transparency, and privacy for users compared to traditional centralized systems
  • The Web 3.0 market is still in its nascent stages, but it is growing rapidly as more developers and entrepreneurs explore the potential of decentralized applications (dApps) and blockchain-based technologies
  • The ability of public networks ensures users across the globe to participate in the network without any restrictions. This attributes to the dominance of the public segment in the Web 3.0 blockchain segment. Further, Web 3.0 is widely used as NFT-powered business model, and large groups of investors are pouring their investments into the nascent Web3 ecosystem, further accelerating the growth of the market
  • In terms of end-use industries, BFSI held a maximum revenue share of 31.05% in the market. This can be attributed to the rising demand for Web 3.0 technology in high-speed transactions. It further helps in reducing processing costs in banking sectors
  • North America dominates the Web 3.0 market with the highest market share in 2022. This is owing to the wide usage of Web 3.0 in numerous applications such as artificial intelligence, blockchain, online payments, and others
  • Similarly, AI and machine learning have currently gained traction in U.S. organizations, with many either employing or planning to utilize AI use cases. In addition, investment in the United States has increased in recent years. Thus, by 2022, the North American artificial intelligence (AI) industry will have reached 24.9 billion US dollars, making it a large AI regional market. This increases the rate of Web 3.0 adoption in North America

View Detailed Report Description:

Web 3.0: by Type (Public, Private, Consortium, and Hybrid); by Application (Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contracts, and Others); by End-use (BFSI, Retail & E-commerce, Media & Entertainment, Pharmaceuticals, IT & Telecom, and Others); by Region (North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa) Global Industry Analysis, COVID-19 Impact, and Industry Forecast, 2018-2030

Web 3.0 Market 2022:

Global Web 3.0 Market

2022

Global Revenue (USD Billion)

3.34

CAGR – (2023-2030)

46.7 %

Public Type Share

48.4 %

Cryptocurrency Application Share

29.7 %

BFSI End-use Share

31.1 %

North America Web 3.0 Market Regional Share

34.8 %

What are the Growth, Drivers, and Restraints for the Web 3.0 Market?

Driver:

Increasing demand for data privacy through the decentralized identity

Web 3.0, also known as the decentralized web built on an open blockchain network, is a vision for the future of the internet in which users have greater control over their data and online interactions. With the advancement in technology such as blockchain, it is possible to create decentralized applications (dApps) that operate independently of centralized servers. Moreover, along with greater control and privacy, Web 3.0 also provides Decentralized finance (DeFi). DeFi applications built on blockchain technology could potentially disrupt traditional financial systems by providing greater access and transparency for users. For cryptocurrency users, it offers the ability to invest, borrow, lend, trade, and take crypto assets permission without any hassle.

Restraint:

Lack of awareness about Web 3.0 blockchain:

Despite the potential benefits of Web 3.0 and blockchain technology, many people and organizations are unaware of Web 3.0 blockchain and how it works. This lack of awareness can slow the adoption of blockchain-based solutions, as businesses may be hesitant to invest in technologies that need to be better by their customers. Moreover, the technical complexity of blockchain technology can also make it difficult for people to understand and use. This might hamper the growth of the Web 3.0 blockchain market.

Check the Full Report, including Global, Regional, and Country Level Analysis:

https://www.cognitivemarketresearch.com/web-3.0-market-report

Our free sample report includes:

  • 2023 Updated Report Introduction, Overview, and In-depth industry analysis
  • Included COVID-19 Impact Analysis
  • 250+ Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on the Request
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, Revenue Analysis, and SWOT Analysis (Free analysis of one company profile)
  • 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes an Updated List of tables & figures
  • Cognitive Market Research Methodology

How COVID-19 Impacted the Web 3.0 Market?

The digitization process is being significantly accelerated by COVID-19, due to which several cryptocurrency businesses has emerged. The pandemic encouraged businesses to use digital platforms more frequently and to invest in digital solutions. Firms that did not employ any digital platform or channel prior to the pandemic inclined towards digital payments. Additionally, there is an increasing concentration of online sales among top businesses even though the percentage of online sales among firms for all sizes grew.

Additionally, during the COVID-19 pandemic, artificial intelligence (AI) has made great strides, particularly in the area of predictive machine learning models for medical treatment. In many areas of COVID-19, such as diagnosis, public health, clinical decision-making, social control, medicines, vaccine development, surveillance, combination with big data, operation of other key clinical services, and care of COVID-19 patients, artificial intelligence has been employed extensively. All of the considerations mentioned above show that Web 3.0 usage is skyrocketing in the aftermath of COVID-19.

Recent Development:

Date

News

January 2022

Livepeer has raised $20 Million from its new investor, Alan Howard:

Livepeer has raised $20 Million for Series B extension which will accelerate the growth of Livepeer’s Web3 infrastructure.

Web 3.0 Market Report Scope

  • Web 3.0 Market – Type Outlook (Revenue, USD Billion, 2018 – 2030)
    • Public
    • Private
    • Consortium
    • Hybrid
  • Web 3.0 Market – Application Outlook (Revenue, USD Billion, 2018 – 2030)
    • Cryptocurrency
    • Conversational AI
    • Data & Transaction Storage
    • Payments
    • Smart Contracts
    • Others
  • Web 3.0 Market – End-use Outlook (Revenue, USD Billion, 2018 – 2030)
    • BFSI
    • Retail & E-commerce
    • Media & Entertainment
    • Pharmaceuticals
    • IT & Telecom
    • Others
  • Web 3.0 Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
    • North America (U.S., Canada, Mexico)
    • Europe (UK, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Luxembourg, Netherlands, Switzerland, Belgium, and Rest of Europe)
    • Asia Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, and Rest of APAC)
    • Latin America (Brazil, Argentina, Colombia, Peru, Chile, and Rest of LA)
    • Middle East & Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, and Rest of MEA)

List of Key Players in the Web 3.0 Market

    • Filecoin
    • Web3 Foundation
    • Zel Technologies Limited.
    • Livepeer, Inc.
    • Brunswick Corporation
    • Helium Systems Inc.
    • Kusama
    • Polygon Technology
    • Kadena LLC
    • Ocean Protocol Foundation Ltd.
    • Others

Related Reports on the Web 3.0 Market:

The global machine learning market is expected to reach USD 213.56 Billion by 2030 growing at a CAGR of 38.7%. Machine learning uses data and algorithms in order to imitate the way that humans learn. It is a branch of AI and computer science that is an important component of the growing field of data science. The rise in the adoption of technology platforms has spurred the market for machine learning. The increasing robotics sector has also accelerated the need for machine learning.

  • Global Metaverse is expected to reach USD 512.49 Billion by 2030

The global metaverse market is expected to reach USD 512.49 Billion by 2030 growing at a CAGR of 47.8%. Metaverse refers to a virtual world that is facilitated by the use of VR and AR. Rising awareness associated with gaming and entertainment has enhanced the market for the metaverse. Further, outbreak of the COVID-19 pandemic has accelerated the demand by changing the social behavior of people.

Other Related Reports:

iqst-–-iqstel-announces-36%-gross-profit-increase-on-q1-revenue-of-$22.9-million

IQST – iQSTEL Announces 36% Gross Profit Increase On Q1 Revenue Of $22.9 Million

April 19, 2023 Published by

 

iQSTEL Inc. (OTCQX: IQST) today announced the company’s Q1 2023 revenue reached $22.9 million based on preliminary accounting.  Revenue grew in Q1 2023 by 18% compared to the same period last year. The company’s gross profit of approximately $780,000 based on preliminary accounting increased by 36% in Q1 2023 compared to the same period last year.

The company recently published its 2022 annual report on SEC Form 10K, and a Shareholders Letter explaining the details.

Revenue for the year ended December 31, 2022 was $93,203,532 compared to $64,702,018 recorded in the previous year representing an increase of 44% from 2021 to 2022.

The company reported a gross profit of nearly $1.8 million for the year ended December 31, 2022.  The Q1 2023 gross profit of $780,000 is already 43% the gross profit reported for the entire year in 2023.

The table below summarizes iQSTEL’s gross profit growth through Q1-FY2023:

EOY-FY2022

Q1 – FY2022

Q1-FY2023

Revenue (US$ Million)

93.2

19.42

22.9

Gross Profit (US$ Thousand)

1791

484

780

Note 1

% of Gross Profit

1.92 %

2.49 %

3.41 %

% of Gross Profit Growth Vs Q1 -FY2022

36 %

% of Gross Profit Growth Vs EOY-FY2022

77.25 %

Note 1: This value represents 43.55% of the Gross Profit of EOY-FY2022

“With iQSTEL’s maturing operations we are seeing improved profit margins,” commented Leandro Iglesias, CEO of iQSTEL. “Revenue growth remains high with the company on track to meet or exceed its $105 million 2023 forecast. Historically the second half of the year is better in terms of commercial activity. Therefore, we feel confident about reaching or exceeding our revenue objective of $105 million. Now we are tuning the operational engine that drives our monster growth and seeing better fuel efficiency through our profit margin improvements. iQSTEL has a very sound operation running under its hood. I expect our track record highlights for 2023 to be breaking $105 million in revenue and reporting our first annual positive operating income. The Q1 2023 gross profit performance bolsters our confidence.”

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