Fortune Unicorn Club (FUC), the First DIY-Mint Method NFT Project, Has Won 2 Million in Funding in the ForChain Labs’ Seed Round

PRESS RELEASE. ForChain Labs was founded in April 2022 as a web 3 startup company. Meanwhile, the NFT project, Fortune Unicorn Club, was being developed. ForChain Labs has raised 2 million funds in its seed round and will use the funds to develop and operate Fortune Unicorn Club (FUC), the first NFT project to utilize DIY-minting.

As reported, ForChain Labs currently manages investments in four major segments: industrial, technology, finance, and web 2, with 198 portfolio companies and $9.3 billion in assets. As a result, the venture capital sector is actively exploring opportunities in the Web 3 market, and ForChain Labs has become one of the VC’s first companies to be backed by a Web 3 company. Due to confidentiality agreements, we cannot disclose more information about the venture capital firm at this time.

Fortune Unicorn Club (FUC) allows people to select traits during their mint. It offers 500+ high-quality 3D traits for people to assemble their FUC avatar, so the minter is the one to decide what the metadata is and the one to decide what each unique FUC avatar looks like. Thus, the NFT collection is generated by pure human aesthetics rather than generated by a cold random program or AI. ForChain Labs hopes people can put their personalities and stories into each FUC avatar using the DIY-mint method. In addition, it lets each FUC avatar carry an additional sentiment value, making the FUC collection more meaningful.

Furthermore, FUC has built its Create-to-Earn system. Minter (who decides what the unique FUC avatar looks like) will become Avatar Creator and receive 3% royalties on the avatar they created for life. Minters can claim their royalties anytime in FUC Holder Portal. The team aims to lower the threshold of co-creation and encourage people to co-create an NFT collection through this approach.

Metaverse and AR are also parts of FUC’s roadmap. However, the team claims it will never build its metaverse but will keep adapting for more popular metaverses. The team believes there are more proper ways to bring holders value than creating a metaverse. Instead, they will bring holders eternal value by building its compatibility and adapting FUC avatars into increasingly popular metaverses. Soon, holders can get into metaverses with the FUC avatar they created.

More Info:

https://fortuneunicorn.club/

https://twitter.com/FortuneUnicornC

https://discord.gg/joinfuc

 

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Microsoft is shutting down its metaverse

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Submitted January 25, 2023 at 11:05PM by kwestro https://ift.tt/Y6rEMPS https://ift.tt/iohrUMn

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Institutions Fade Crypto Rally, Go Short on Bitcoin (BTC) As Markets Bounce: Coinshares

In the latest Digital Asset Fund Flows Weekly Report, CoinShares finds evidence of bearishness among North American investors as short Bitcoin ...

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FBI Confirms Lazarus Group, APT38 Cyber Actors Responsible for Harmony's Horizon Bridge Currency Theft

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Submitted January 23, 2023 at 04:30PM by Set1Less https://ift.tt/e6xw5Iy https://ift.tt/jMtpaDu

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Golden Plated Bitcoin Coin Creative Souvenir Collectible Great Gift For Art Collection ... - Temu

Find golden plated bitcoin coin creative souvenir collectible great gift for art collection golden commemorative coin with shell at Temu, ...

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CoinGape Media on Binance Feed: Miami Mayor Gets Salary in Bitcoin, Know More

Speaking to CNBC on a Squawk Box, President of the United States Conference of Mayors said he still purchases Bitcoin every two weeks despite the ...

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Bitcoin Soars Over $22K to Reach Four-Month High - Yahoo Finance

Bitcoin soared past $22,000, its highest level since mid-September, as the broader cryptocurrency market continued its unexpected 2023 rally.

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Bitcoin's Rally Falters as Stock Markets Drop, with Altcoins Tumbling Harder | Alexandria

Bitcoin's incredible winning streak has come to an end, with the world's biggest cryptocurrency falling from fresh 90-day highs of $21,564. At the ...

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Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert's DCG empire

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Submitted January 19, 2023 at 10:43PM by fadufadu https://ift.tt/YxNWHeD https://ift.tt/0RFWis1

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CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.

CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.

Note: CEO (is a catch all term I am going to use for anyone in the roll of leadership for a crypto currency coin). It does NOT apply to the creator who made it and stepped away.

1. The CEO can manipulate the price by their actions. For example, Alg0rand CEO, who seems to be utterly hated by the community, has been trolling people on Twitter in a fashion that surmounts to market manipulation. A while ago there was a coordinated pump and dump of LTC; fake news websites and fake news on Twitter claimed that Wal-Mart was going to use LTC. Within hours the price pumped 100% and then got dumped. Alg0rand CEO (I have no proof other than what I observed) tweeted "NIKE". Her audience assumed that there was a Nike partnership of sorts. That was not the first time she has trolled her audience and it certainly won't be the last.

2. My second point will be Fantom. When one of the developers who was highly regarded by the community left, the price of the coin tanked wiping out entire fortunes which was exasperated by the general market tanking. If the departure of a single important person can tank the price, how can it withstand any other challenges and obstacles in the future?

3. The price action of the coin, if it has a CEO, will depend heavily on "partnerships" and whatever else marketing the "CEO" and company promise/plan on. If they don't deliver, good luck.

4. The future of the coin will be beholden to the CEO, rather than the fundamentals offered by the coin itself. If the coin does not speak for itself and it needs a CEO, it is going to be catastrophic for investors. Just look at Safem00n. This coin has a CEO and has done nothing but manipulate and gaslight his community of investors, not to mention reports of stealing from the community.

Now contrast coins with a CEO against those without one. They are not exposed to any and all of the FUD that a CEO can have on the "coin". For example, XMR, LTC, BTC, ETH. They are down because the market is down. They will recover, if they have already not recovered, because of the fundamentals that the coin offers and is build upon, which coins with a CEO will either lack or will be overshadowed by the actions or lack there of of the CEO of that coin.

Anyway, I am a day trader and have washed my hands of ANY coin with a CEO. I got burnt by FTM, ALG0, and a few other coins with a CEO. While the coins without one, or the CEO exited humbly and allowed the community to takeover development, for example, have the most positive reception and have resulted in the best returns for me.

Though this is a CMV post and I want my position challenged, if no one can, I hope this can serve as a warning to those newly in Crypto.

Submitted January 18, 2023 at 09:31PM by SquatDeadliftBench https://ift.tt/quT6rMl https://ift.tt/vRVFfPG

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That's Right: "Useless" cryptocurrencies are being discussed at the World Economics Forum (WEF) right now and a guide released to encourage the development of the future crypto-based economy

"The Tokenized Future Economy" is part of the WEF this year running from January 16th to the 20th. weforum.org formally announced the topic back on January 2nd. The key messages from their annoucement were 1) "2022 was a terrible year for cryptocurrencies, with the loss of $2 trillion in market value.", 2) "We could now see the handover of crypto technology and blockchain infrastructure to more regulated and established institutions" and 3) "Cryptography and blockchains will continue to be integral parts of the modern economic toolkit".

The WEF published a guide to encourage development of the crypto-based future economy. The abstract to the guide starts "Collaboratively governed and code-driven, decentralized autonomous organizations (DAOs) are engaged in nothing less than an experiment to reimagine how we connect, collaborate and create. Although DAOs today manage billions of dollars’ worth of assets, engage millions of contributors and operate across industries as diverse as finance and philanthropy, basic questions regarding operations, governance, law and policy are only just beginning to be addressed by policy-makers, regulators and entrepreneurs."

Leaders in economics are messaging that cryptocurrency is here to stay - that a tokenized economy will consume our future financial interactions whether you and I want them to or not. That blockchain will make public and private documents immutable. Adoption of digital assets is underway.

Submitted January 17, 2023 at 03:57PM by coinsRus-2021 https://ift.tt/0mt4NQZ https://ift.tt/O0iEGjH

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Cramer sees bullish signs starting to emerge in the stock market, just not in the same places as before. Time to sell!

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Submitted January 16, 2023 at 10:46PM by Harold838383 https://ift.tt/MNdIrQa https://ift.tt/3ZhiMzG

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Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime

The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary Fund, the monetary authorities in Egypt have pledged not to intervene in currency markets.

Flexible Exchange Rate Regime

Just a few months after plunging by more than 15% versus the U.S. dollar, the Egyptian pound tapped a new low of more than 32 units per greenback on Jan. 11. According to a Reuters report, the pound’s latest depreciation has prompted some analysts to question the extent to which the central bank wants the pound to fall.

As reported by Bitcoin.com News in October 2022, the pound’s official exchange rate versus the dollar fell from just under 20 units per dollar to 23.09 per dollar after Egyptian monetary authorities agreed to abandon the fixed exchange rate regime. In return, Cairo would receive a $3 billion financial package from the International Monetary Fund (IMF).

Following the currency’s latest fall, some Egyptian analysts quoted in the Reuters report believed the pound had reached its lower limit. Others like Farouk Soussa of Goldman Sachs said it is still difficult to conclude that the pound versus the dollar exchange rate had reached an equilibrium.

“When portfolio investors start to come back in, that is when the market will have judged equilibrium. But there is no direct way of observing equilibrium,” Soussa reportedly said.

Monica Malik, an economist at the Abu Dhabi Commercial Bank said the pound’s latest plunge alone does not guarantee that investors will return. The economist said clearing the foreign exchange backlog may be one step that reassures investors. However, this requires new USD liquidity and according to Malik “there is currently no visibility where this liquidity will come from.”

Meanwhile, in the IMF’s Egypt staff country report, the global lender revealed that the government in Cairo had promised not to intervene in currency markets. As per its agreement with the global lending institution, Egyptian monetary authorities would only intervene in cases of excessive volatility.

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Let us know what you think in the comments section below.

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California cannabis producer uses blockchain to track its weed - California News

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SEC Chairman Warns Most Crypto Will Fail — Says 'Don't Get Caught up in FOMO, Fear of Missing Out'

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This on-Chain Indicator Signals the Start of Bitcoin Bull Market - BeInCrypto

The transfer volume in profit gives signals of a bullish trend reversal for Bitcoin. · The indicator realizes the reversal pattern that occurred in ...

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Ripple: ‘Congress must examine the SEC’s role in the recent crypto contagion’

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Bitcoin surges above $18K to cap 8-day winning streak

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Submitted January 11, 2023 at 09:13PM by Harold838383 https://ift.tt/W7bIm5l https://ift.tt/qOnKrtf

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Algorand now has > 10x the smart contract throughput than Solana and any other top L1 (SOL, BSC, AVAX, MATIC, CELO, ETH included)

I think we can all agree that tps numbers can be hard to compare between chains. Some chains can pin 10000s of native token transfers, but things get weird when you start to compare smart contracts.

Last year, I posted about this metric in the Algorand subreddits for determining throughput of different blockchains in the fairest way possible. That is using an AMM “uniswap-style” swap as the benchmark.

The authors of the medium article linked in my original post tested the smart contract throughput of some of the top smart contract platforms empirically, and they found that these chains to have the following AMM-swap tps limits:

• Solana Mainnet Orca - 273 swaps
• BSC pancakeswap - 195 swaps
• Polygon quickswap - 95 swaps
• Avax Trader Joe - 176 swaps
• Celo Ubeswap - 50 swaps
• Ethereum uniswap v2 - 18 swaps

Immediately after the 6k tps upgrade, I made a post about Algorand's ability to perform these AMM-style swaps which was estimated using the assumption that an AMM swap would require four txns per swap. This estimation came out to about 1625 swaps per second. At the time this was very impressive because the next fastest chain was Solana capped at being able to do 273 swaps per second.

People foreshadowed in the comments on one of my previous posts saying that it could definitely be done in less than four transactions, but I wanted to be conservative at the time.

Today, I saw on twitter that one of the developers from Vestige actually empirically tested this on the MAINNET and proved that Algorand can do 2881 AMM-style swaps per second. You can see the on-chain evidence in this block.

Algorand literally dwarfs these other chains in smart contract efficiency

• 10.5x more than Solana Mainnet Orca - 273 swaps
• 15x more than BSC pancakeswap - 195 swaps
• 30x more than Polygon quickswap - 95 swaps
• 16x more than Avax Trader Joe - 176 swaps
• 57x more than Celo Ubeswap - 50 swaps
• 160x more than Ethereum uniswap v2 - 18 swaps
• 3.5x more than all of them combined - 807 swaps

If anybody can do this experiment for other popular Layer 1s like Tezos, NEAR, or Elrond or the Layer 2s on ETH, I would love to include them here.

Please be respectful in the comments :)

Submitted January 09, 2023 at 10:36PM by Mr_Blondo https://ift.tt/OgTYyw2 https://ift.tt/pM4POoh

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Ohio Man Steals Over 712 BTC From IRS, Faces 40 Years in Prison

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