Even the best companies are not devoid of software glitches. In fact, recently, Elon Musk’s electric vehicle company Tesla had to recall nearly 12,000 cars due to a software glitch. While building a company without any technical glitch seems utopian, open source companies get close because they involve the efforts of not just their employees but also their user communities.
Imagine signing in to your class, but instead of joining a Zoom meeting, you enter a virtual world where you can choose your avatar, play games with your peers and earn points for assignments done well. Sounds fun, doesn’t it? Well, that’s the concept behind gamified education technology (EdTech).
The fashion industry is always on top of the game, quickly adapting to any innovative technologies that might come its way. From using virtual influencers to promoting their products to creating their own metaverses, fashion retailers have been actively expanding their horizons. On February 14 this year, we saw the launch of the metaverse fashion week in the Second Life metaverse.
Recently, financial services startup BlockFi came under fire for failing to properly register its services—more specifically, the BlockFi Interest Accounts—as securities. The company had to pay US$100 million as a settlement with the U.S. Securities and Exchange Commission (SEC). Launched in 2017, this U.S.-based company gained popularity for providing high-interest loans to its users.
Last year was a landmark one for the cryptocurrency industry, featuring the NFT boom and new token launches. Funding into crypto and non-fungible token (NFT) startups grew by over 700 percent last year. Investors have poured in about US$28 billion into global crypto and blockchain startups, with US$3 billion being dedicated to NFT companies alone.
If you are a frequent user of decentralized platforms, you must have been acquainted with the concept of decentralized autonomous organizations (DAOs). From startups to play-to-earn games—founders are optimizing the potential of DAOs to create ecosystems that thrive on collaboration and shared ownership.
Imagine Facebook, but without Mark Zuckerberg at its helm—sounds relieving, right? Well, that’s the concept of decentralized applications, or dApps. They are apps—akin to those on your phone—but without a single authority or entity controlling them. Today, there are approximately 4,000 dApps, with most of them existing on Ethereum. What’s more? Since October 2021, between 60 and 70 dApps have been launched every month.
Burnout is something we have all experienced at some point in our work lives. But what we may not be aware of is that factors outside of work, such as a pandemic, can also aggravate work-related stress and our coping mechanisms or resilience against it.
As a startup new to the crypto space, you might be overwhelmed by the different ways to raise funds—initial coin offerings (ICOs), initial DEX offerings (IDOs) and more. Crypto fundraising has gained momentum as there are fewer barriers to entry and greater access to a larger pool of investors. So, all things considered, you don’t want to miss out on this opportunity. If you’re not sure how to get started, try using a crypto launchpad!
About 60 percent of American and UK-based video game developers have started using blockchain technology. For them, the scope of innovation and real-world value offered by “play-to-earn” crypto games—absent in traditional video games—enhances their appeal. Players, too, have been enjoying the chance to earn money while playing video games.
As a startup, you might be tempted to launch your own cryptocurrency to raise funds more seamlessly and in a decentralized manner—be it through an initial coin offering (ICO) or an initial DEX offering (IDO).
2021 has been a great year for the growth of non-fungible tokens (NFTs). The NFT market grew to US$41 billion in the past year, rapidly becoming a direct competitor to the fine arts market. One of the NFTs that contributed to the popularity and the growth of this sector is the Bored Apes NFT collection.
Non-fungible tokens (NFTs) have experienced an explosion in popularity in the past year. Sales volumes for NFTs increased from US$94.9 million in 2020 to US$24.9 billion in 2021. Be it through purchases of Apes or Cryptopunks, people have been actively diving into the NFT trend.
For startups, patents can be super beneficial. From increasing your chances of securing funding to boosting your odds of getting acquired in an initial public offering (IPO)—there’s plenty to gain from patenting your inventions. A study by Mines ParisTech found that a startup that already has patents before a venture capital investment has about a 50% chance of succeeding within ten years of the investment. In comparison, startups that don’t boast patents have only a 30% chance.
Valentine’s Day has rolled around again this year, and with it, the question of what to give your significant other is a headscratcher for almost everyone. It’s hard to be creative every year, isn’t it? Well, this year, we have the solution to your problem. Instead of gifting your partner with flowers that will wither after a couple of days or chocolates that will last a week, you can give them a present that will be preserved forever on the blockchain and that is, non-fungible tokens (NFTs).
Imagine having numerous individuals not just believe in your idea but also sponsor it. That’s what crowdfunding is all about. In crowdfunding, you raise funds for your business venture from the public by campaigning. As of 2020, there were over six million global crowdfunding campaigns. What’s more? As per a Statista report, the crowdfunding market size will amount to nearly US$26 billion in 2027.
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