On December 31, 2021, decentralized finance (DeFi) ecosystem platform MRHB DeFi raised US$5.5 million through an Initial DEX Offering (IDO). The IDO allowed global investors to participate directly in the funding rounds with no third-party mediator. From raising capital through an Initial Coin Offering (ICO) to launching an IDO—cryptocurrency has made possible new ways for startups to raise money with fewer hurdles. Here, we take a look at what an IDO is and how your startup can get started with one.
The global crypto market capitalization reached US$2.18 trillion in 2021. According to the Bloomberg Galaxy Crypto Index, the cryptocurrency market grew by 160% in 2021, which far surpasses growth of conventional commodities. With such a booming market segment, it is only natural that people would want to find ways to make money from crypto.
The cryptocurrency boom is well and truly here. However, when it comes to using cryptocurrency, there is no clear way of determining what is okay to engage in and what isn’t. After all, cryptocurrency is constantly evolving and keeping pace with this change is no easy feat. Regulating cryptocurrency is important, and some government officials have been working towards building some sort of a framework. Still, due to the dynamic nature of the currency.
Earlier this month, the owner of Bored Ape non-fungible token (NFT) number 3547, Maxnaut, made a disastrous error by listing the NFT for 0.75 Ethereum (ETH) instead of 75 ETH, which was how much Maxnaut wanted to sell it for. In doing so, Maxnaut lost US$250,000. The NFT was picked up really quickly, with the buyer paying a heavy gas fee of 8 ETH.
This year has been an eventful one for Sarojini McKenna, the co-Founder of the NFT Metaverse Alien Worlds—a globally-acclaimed blockchain game. From creating an unparalleled community-focused game to growing from 10,000 to five million users within a year—Alien Worlds’ journey has been one for the books.
India might be introducing a bill on cryptocurrencies—The Cryptocurrency and Regulation of Official Digital Currency Bill.
The bill states that lawmakers could vote on legislation that creates “a facilitative framework for creation of the official digital currency” issued by the country’s central bank, the Reserve Bank of India (RBI).
Whales in cryptocurrency create waves that cause a ripple effect among small fishes, or traders, thus influencing the overall market. Between October and November 2021,
The buzz around the term “metaverse” has been growing exponentially ever since Facebook announced its name change to Meta Platforms, Inc., or Meta. However, there are many other companies that are making waves in this space. From a Shark Metaverse to Accenture’s metaverse-esque virtual office, the Nth Floor, the metaverse is redefining how we will engage with each other in the near future.
One of the technologies that has revolutionized the way we live is the Internet. Ever since it became accessible to the public in 1993, it has been evolving to meet the needs of its growing user base. As of this year, the average person spends 59 hours a week (or more than one-third of their life) on the Internet.
While Initial Coin Offerings (ICOs) have been lucrative for startups wanting to raise capital, they are not without their flaws. The lack of regulation often puts investors at risk. For instance, as of 2021, BitConnect, the offshore cryptocurrency lending program, duped investors out of over US$3 billion.
The COVID-19 pandemic brought with it a technological boom. As more businesses went digital, apps and websites became more and more relevant to sustain effective business functioning. While the need for apps and websites is increasing, the number of developers to keep them up and running has decreased.
Do you have any idea how Bitcoin mining works? You might know that it is the process of adding new transactions to the blockchain, but do you understand what is really going on? Bitcoin mining is an intriguing process that many people have questions about.
On October 26, 2021, a cryptocurrency called “SQUID”—inspired by the popular Netflix show Squid Game—was launched. Within a week, the token’s value increased by 23,000,000% to US$2,862, after which it came crashing down to nearly zero dollars as the developers pulled almost US$3.4 million from investors. It took five minutes for the token’s value to fall to nothing.
NFT” has been crowned Collin Dictionary’s Word of the Year for 2021. After all, NFTs, or non-fungible tokens, have amassed a following like no other over the past year. So much so that the use of this abbreviation increased by 11,000% in 2021. Collins Learning managing director, Alex Beecroft, told the Guardian,