NFT News by Thebittimes.Com

Humanity Protocol has secured $30M for its palm scan identity verification project. Palm scan tech offers secure, decentralized identity verification, disrupting traditional methods. Competition intensifies in the digital identity space as Worldcoin and Humanity Protocol go head-to-head. Humanity Protocol, a web3 digital identity startup, has secured $30 million in funding, catapulting its valuation to $1 billion. Utilizing palm scans for online identity verification, digital identity startup aims to revolutionize digital identity management. Palm scan technology in digital identity verification Humanity Protocol’s unique approach to digital identity verification involves the use of palm scans. Unlike traditional methods that rely on usernames and passwords, palm scans utilize infrared cameras to capture the unique vein patterns in an individual’s palm. This biometric data is then stored using decentralized technology and zero-knowledge proo...

Former LedgerPrime personnel have initiated Split Capital, a hedge fund focusing on long-term investments in liquid digital tokens. The venture was initiated by LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse, along with Nai Boonkongkird. Shiliang Tang, the former chief investment officer at LedgerPrime, will advise the fund. Reported first by Fortune, Split Capital presents a unique approach to its investment strategy. Unlike many venture capital firms active in crypto, which tend to divest quickly once digital asset s become liquid, Split Capital aims to take a longer-term perspective on token investments. This strategy is intended for investors willing to commit to the crypto market over an extended period. It's been a long time coming but I'm thrilled to announce the official launch of Split Capital, a liquid digital asset s fund. Split Capital, as a concept, has been in my mind for years now and it's been a dream to finally see it come to fruition.ht...

Sonorus is a web3 platform seeking to change the future of the digital music industry and reward artists and music lovers. It uses a decentralized music voting system, TrendFi, enabling fans to earn by supporting their favorite songs while helping musicians gain the rewards and recognition they deserve. The project’s developers invite us to think of Sonorus as the IMDb of digital music. For example, the world’s most popular online database of everything related to cinema and TV series is not a streaming service. Yet, it attracts nearly 1.2 billion visitors monthly. Instead, the website is a directory promoting film productions and measuring user preferences to indicate the latest industry trends. It does not gain revenue from copyrighted content but from the added value users bring to the platform by promoting or supporting it. You might also like: KyberSwap suffers multichain exploit, resulting in $45m loss Sonorus seeks to become similar to IMDb for music...

Euroclear has joined forces with the World Bank to unveil a novel tokenized securities issuance service, marked by a €100 million digital bond issuance, aiming to integrate DeFi technology into TradFi services and enhance efficiency, transparency and accessibility. Euroclear, a major European clearinghouse, has collaborated with the World Bank to launch a tokenized securities issuance service. This initiative was marked by the issuance of a €100 million , $106 million , digital bond, as revealed in a press release on Tuesday. Euroclear’s Digital Securities Issuance (D-SI) unit is at the forefront, facilitating the issuance, distribution, and settlement of fully digital financial assets through distributed ledgers. Distributed ledgers are unique in their structure, as they allow each participant, or node, in a network to hold and update a database independently. The World Bank Group’s International Bank for Reconstruction and Development (IBRD) is utilizing this bond to channel ...

When it comes to the introduction of the new project by the Reserve Bank of Zimbabwe in April, one can’t help but notice the innovative approach they’ve taken. They’ve linked each digital token they issue to a tangible reserve of gold securely held within the bank’s vaults. Fast forward to October 5th, and the official launch of the gold- backed digital token named Zimbabwe Gold (ZiG) as a payment method was announced by none other than the Reserve Bank of Zimbabwe (RBZ) itself. What’s truly remarkable about this initiative is that it’s been in the works since April 2023, and it has consistently emphasized the backing of every digital token with a physical store of gold. This concept was initiated by the RBZ in 2022 when they started issuing token s backed by actual gold, and their success in this venture is truly commendable. The underlying mission of both the physical coins and the newly unveiled ZiG is to encourage local investors to dive...

Exploring the conflict between the SEC and major cryptocurrency corporations and the fight for investor protection in digital currency markets. Bitcoin, Coinbase, Binance and more are all fighting for their lives as the United States Securities and Exchange Commission does everything in its power to eradicate the current cryptocurrency system in the United States and replace it with one it deems more “fair” to the American public. Since its start in 2009, cryptocurrency, or digital currency, has taken the world by storm and caught the attention of millions of investors who have an interest in digitizing their assets. At first glance, this seems convenient to many, but as SEC chairman Gary Gensler has been arguing, the system is so deeply flawed that the American public doesn’t even realize the risks it is taking. This argument is not to say that the burden of responsibility is largely on the public and their ability to understand and invest their money wisely, but more so to point ou...

Web3 technologies are changing the way we engage with various forms of entertainment and ownership is at the heart of it. Web3 is uprooting traditional entertainment industries with a new way of creating and engaging with digital content. The industry has already seen nonfungible tokens (NFTs) display the potential to transform how television scheduled programming can be created. Increased metaverse activity began challenging artists with new possibilities for performances and connectivity with their fans. All the use cases of Web3 technology upgrading the future of digital entertainment include one key component: ownership. Ownership is one of the defining characteristics that distinguishes Web3 activity from its predecessor.  According to professionals in the industry, it will also be a defining characteristic not only of Web3 but of the future of digital entertainment. Cointelegraph spoke with Mitch Liu, CEO of the media and entertainment-centric blockchain Theta Labs, on what u...