NewsRoom Articles - Page 11 of 15

TuesdayMay 21, 2024 10:00 am

Latest $30M Seed Capital Pushes Web3 Identity Company to Unicorn Status

An online identity startup that uses blockchain tech to verify the online identities of individuals through palm scanning has bagged $30 million in seed capital. The startup, Humanity Protocol, is currently valued at $1 billion. The seed round was led by Kingsway Capital, an investment-management company based in the United Kingdom. Various Web3 investment companies participated in the event, including Blockchain.com and Animoca Brands. Shima Capital, a venture company, also took part in the event. Terence Kwok, the founder of Humanity Protocol, stated that his company had also raised roughly $1.5 million from prominent cryptocurrency figures during a separate round.…

ThursdayMay 16, 2024 10:00 am

Reebok to Customize Sneakers Using Digital Images Sent by Customers

Reebok announced that it has entered into a collaboration with Futureverse, a leader in metaverse technologies and revolutionary artificial intelligence. The sports brand announced the release of a new feature called Reebok Impact, which allows consumers to replicate their favorite pictures onto a digital sneaker. The feature is a tool powered by artificial intelligence that works by sending a picture via direct message on Instagram. In turn, consumers will receive a custom sneaker in the style and colors of the picture. Consumers can use the feature to create four pairs of sneakers for free digitally. Additionally, they can send the…

TuesdayMay 14, 2024 10:05 am

Blockchain Technology Revolutionizing AI

The meshing of Web3 and artificial intelligence (AI) is happening at an ever-increasing pace, and blockchain tech is proving to be a major influence in the way AI shapes up for the future. The costs of innovation in AI are high, with the computational needs and large data sets needed to train models being out of reach for the majority. As a result, there is a risk that innovations in AI and the financial rewards from such innovation could be a preserve of a few individuals and entities that can mobilize the needed resources to drive innovation. This is where…

ThursdayMay 09, 2024 10:00 am

Multichain Compatibility Could Safeguard Web3 from Collapse

The nascent Web3 space is expected by many to eventually replace the World Wide Web and become the next iteration of the internet. Powered by blockchain technology, Web3 will provide users with ownership and control over their data by espousing the principles of privacy preservation, trustlessness, interoperability and decentralization. However, to minimize the risk of Web3 collapse, players in the burgeoning space will have to invest in robust multichain compatibility. Multichain compatibility is a key foundational element that will ultimately be critical to Web3’s sustained growth, adoption and interoperability, especially as blockchain interoperability continues advancing and Web3 companies create decentralized…

TuesdayMay 07, 2024 10:00 am

SlowMist Data Shows Web3 Security Breaches Caused Nearly $100M Loss

Data from blockchain security platform SlowMist has revealed that security breaches in the nascent Web3 space resulted in losses worth almost $100 million last month. Said to be the next iteration of the internet, Web3 runs on decentralized blockchain technology that offers users unprecedented ownership and control over their data. However, despite ostensibly offering better security and data control compared to the regular internet, Web3 is subject to regular security breaches. A recent security report from popular security platform SlowMist found that a total of 37 Web3 security breaches perpetrated in April resulted in approximately $90.81 million in losses. While…

ThursdayMay 02, 2024 10:00 am

Google Cloud Launches Web3 Portal, Receives Mixed Reactions from Crypto Industry

Last week, Google Cloud launched a new portal with various resources for blockchain developers, including tutorials on how to create nonfungible tokens and data sets. The launch of the Web3 portal has been met with mixed reactions from the cryptocurrency industry however, with some expressing their disappointment about the new portal. Unchained VP of product marketing, Phil Geiger, stated in a post made on X last week that the platform had no native lighting support of Bitcoin. He added that this seemed like an oversight that ignored the most important cryptocurrency. A crypto trader by the pseudonym MartyParty on X…

TuesdayApr 30, 2024 10:00 am

Web3 Summit in Dubai Ends Successfully

The Dubai 2024 Web3 Summit successfully ended earlier last week. The summit drew thousands of attendees from different parts of the globe and more than 100 industry leaders for the Dubai Blockchain Week, which ran April 15–21, 2024. The Web3 summit was jointly organized by LBank Labs, BlockNews and Web3 Summit. The event marked a huge milestone, attracting professional investors and renowned representatives of well-known institutions alike. The event’s primary goal was to act as a platform to connect fintech and global Web3 initiatives. Through collaborative discussions, professional exchanges and onsite dialogues, the event was designed to foster cooperation on…

ThursdayApr 25, 2024 10:00 am

Venture Funding for Web3 Registers Uptick in 2024

Despite experiencing a notable drop in buzz in the venture capitalist space, the nascent Web3 segment experienced a slight increase in funding in Q1 2024 compared to the fourth quarter of the previous year. This marked the first time Web3 has seen an increase in venture capital funding since Q4 2021, giving the emerging industry a brief reprieve from several years of low funding. However, despite the recent rise in Web3 investing, venture capitalist dollar inflows into the space have dropped year-to-year and are a long way from the highs registered in 2021 to 2022. Web3 refers to the next…

ThursdayApr 25, 2024 9:45 am

Top 10 Reasons to Attend Blockchain Futurist Conference

We feel compelled to tell you just 10 reasons (there are lots more) why Blockchain Futurist Conference 2024 is the years’ must-attend web3 event. Largest Web3 Event in Canada “By far the BEST conference that I have ever been to in my life!” Jonathan P. With a huge web3 community, Canada is a fast-growing global hub for blockchain and crypto. Don’t forget, Ethereum was founded in Toronto. When We Say Large, We Mean LARGE! Over 10,000+ in-person attendees, 250+ speakers, and 150+ partners expected this year! Blockchain Futurist Conference 2024 is easily one of the top web3 events on the…

TuesdayApr 23, 2024 10:00 am

Trends, Innovations Shaping Web3 in 2024 and Beyond

Earlier this week, Artemis and QuickNode jointly presented a report that analyzed the evolution of blockchain’s ecosystem in the past three months. The report centered on emerging trends within the Web3 industry, huge developments across different blockchains, and user activity. In the last quarter, the stablecoin space observed significant growth, recording increased user activity of 42%. This increase was driven by different factors, among them a long-awaited Bitcoin halving and the approval of a Bitcoin exchange-traded fund. Decentralized finance (DeFi) resurgence also recorded a 291% surge in activity by users, bolstered by innovative protocols and renewed optimism. Web3 gaming also…

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