Unstoppable Domains, the leading platform for Web3 digital identity with more than 2.5 million registered NFT domains, today announced it has closed $65 million in Series A funding at a $1 billion valuation. The round was led by new investor Pantera Capital with participation from Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, and Sound Media Ventures, along with previous investors Boost VC and Draper Associates. Unstoppable Domains will use the funding to fuel product innovation and grow our partnerships in the web3 space as we continue to build a platform for user-owned and portable digital identity.

“Unstoppable Domains is rapidly defining a new category of decentralized identity that will change the internet as we know it,” said Paul Veradittakit, Partner at Pantera Capital. “We’re proud to back Matt and the rest of the team who are making this vision a reality.”

Founded in 2018, Unstoppable Domains offers NFT domains that give people full ownership and control of their digital identity. The company has registered 2.5 million domains, which people can use to log into more than 150 Web3 applications, replace lengthy crypto wallet addresses on more than 80 wallets and exchanges, create decentralized websites, and build their web3 identity. Unstoppable Domains has built more than 300 partnerships with leading web3 companies like Polygon, Blockchain.com, MoonPay and more. Unstoppable Domains has generated more than $80 million in sales since launching in 2019.

“For too long, companies have controlled people’s digital identities, and Unstoppable Domains is putting that power back into the hands of people,” said Matthew Gould, Founder and CEO of Unstoppable Domains. “As the digital economy becomes a larger part of our lives, it’s time for people to own their identity on the internet. We’re thrilled to partner with Pantera and other investors who share our vision of onboarding billions of people onto Web3 through NFT domains that unlock user-owned, private, and portable identities.”

Unstoppable Domains is a fully remote company and was recently named one of America’s Best Startup Employers by Forbes.

ABOUT UNSTOPPABLE DOMAINS

Founded in 2018, Unstoppable Domains is an NFT domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers NFT domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America’s Best Startup Employers in 2022.

ABOUT PANTERA

Pantera Capital is the first institutional investment firm focused exclusively on bitcoin, other digital currencies, and companies in the blockchain tech ecosystem. Pantera launched the first cryptocurrency fund in the United States when bitcoin was at $65/BTC in 2013. The firm subsequently launched the first exclusively-blockchain venture fund. In 2017, Pantera was the first firm to offer an early-stage token fund. Pantera Bitcoin Fund has returned over 32,000% in nine years and has returned billions to its investors. Pantera manages $4.7bn across three strategies – passive, hedge, and venture.

The original press release can be found on PR Newswire.

The post Unstoppable Domains Looks to Turn NFTs Into Web3 Digital Identities with $65M In Funding appeared first on Grit Daily News.

How did you become involved in the Metaverse and virtual real estate?

I was looking to start a company, had just quit my job, and was doing different hackathons in the blockchain and Web3 space. I tried different ideas….I remember I tried mortgages on chain, I tried Airbnb on chain, I tried a few different things. Then I came across somebody at Web 3 weekend ETH Global last May who was talking about building something for the Metaverse. That was the first time I heard about it. That was the first time I hopped into Decentraland and then I got into ​​Crypto Voxels. I was just fascinated by the idea that these things have different land, that it was actually worth something and that people would build on it. It reminded me of a lot of Roblox and other games I used to play where you own a property that people can visit, and from there we scaled. I was trying to start a business and I had a background in real estate, data science and there was this opportunity where nobody really understood what was going on and, you know, people were talking about it and really liked it. I came in and looked at the data, saw the value there and so that is how I became involved.

Why is virtual real estate valuation such a difficult concept for investors to gauge?

This concept is difficult for many people to wrap their heads around because the Metaverse is still a challenging concept. The mere fact that the property is virtual makes it harder to conceptualize and attach a value to it. But it’s important to remember that the valuation of these properties comes not from their physical properties but from the fact that people still visit these virtual properties. With the death of a lot of people’s 3rd places due to the pandemic, the Metaverse is stepping in to fill that void, and this inherently provides value.

What are some of the most important differences between virtual and traditional real estate? How do these differences affect their valuations?

The differences are still undefined; they can be as similar or as dissimilar as the user wants it to be. Your Facebook page is virtual real estate, what’s its valuation? Quite high, actually. One of the things virtual real estate lacks is privacy. It’s almost impossible to be alone in the virtual world. Even your own phone is tracked, so there isn’t really the possibility of privacy.

The question is, what are you satisfying with virtual real estate? You can visit your virtual real estate from any physical location, which is another differentiating factory. In summation, their valuation becomes what is important to the consumer. The overarching factor though is the ability to generate revenue. Physical real estate is static but virtual real estate is inherently infinite, and thus has the potential for infinite possibility for growth, which is super exciting.

What are the important factors to consider with digital land? How does WeMeta use these factors to value properties?

Currently, digital land is evaluated in a largely location-based way. The constraints of building are really based on location the same way building physical real estate differs by location. However, there is more to the potential valuation besides location. In the near future, WeMeta plans to focus more on the amenities that these digital properties can provide, rather than just where the property is located in its respective metaverse. Over time we plan to flip the evaluation model on its head from being based on sales history of nearby properties to being based on similar experiences.

Where do you see the future of digital real estate? 

You own what you own and it’s not part of a central collective. The problem right now is it’s all running on AWS but in the future it could be completely decentralized.I think the future of digital real estate is super exciting. I see it almost as a GTA or Roblox, or any game with a map that can be built upon and innovated. Unfortunately, there isn’t a techstack that we currently have that allows for this. Ethic with their Unreal engine is doing a pretty good job but it’s not a Web3 native so we’ll see how it works.

What advice would you offer to those who are interested in investing in the Metaverse but don’t know where to start?

I would first ask someone how they define investing in the metaverse, because to some extent buying stock in any company with virtual real estate could be considered investing in the metaverse. On the other hand building experiences in these decentralized spaces is a great way to start as well. Learning how to create Web3 native technology is the best way to prepare you for the future of the metaverse.

The post The Valuation of Virtual Real Estate, Explained by Winston Robson, CEO at WeMeta appeared first on Grit Daily News.

Halborn, a cybersecurity firm serving both traditional finance and blockchain-based clients, announced the completion of a $90 million growth equity financing, the first external funding in the company’s history. Global growth investor Summit Partners led the round, with participation from Castle Island, Digital Currency Group, Brevan Howard, Third Prime, Sky Vision Capital, and Fenwick. The funding was first announced in a Bloomberg exclusive.

Halborn was founded in 2019 by Steven Walbroehl and Rob Behnke with a vision to secure the blockchain and protect users against data and monetary losses. Profitable since inception, Walbroehl and Behnke bootstrapped Halborn into a leader in Web3 security. Halborn is growing rapidly and today serves over 250 clients and employs more than 100 team members around the world.

“With security vulnerabilities dominating the crypto news headlines, and over $1.5 billion in financial losses from DeFi hacks in 2022 to date, the demand for Web3 security is only growing,” said Halborn co-founder and CISO Steven Walbroehl, author of the SANS Institute course on Blockchain and Smart Contract Security. “Funding from this Series A will be used to expand our global team of offensive security engineers and build our Halborn Labs division, accelerating our robust pipeline of SaaS security products.”

With thousands of centralized and decentralized applications touching Web3 and developer counts growing rapidly, the Web3 attack surface has grown exponentially in recent years. Applications and APIs are often far more vulnerable than the blockchains upon which they are developed. Open-source vulnerabilities and human programming error have created significant, well-documented cyber risks – but the market has developed few security standards to address this challenge.

Operating across the software development lifecycle, Halborn provides a suite of products and services designed to identify and close vulnerabilities in Web3 applications, helping to create the security standards that the market currently lacks.

Halborn currently serves a diverse global client base spanning Layer 1 blockchains, infrastructure providers, financial institutions, and application and game developers. Halborn’s customers include Solana Foundation, Avalanche, and Figment.

“Summit has a long history of partnering with innovative cybersecurity leaders focused on protecting against both monetary and data breaches in a constantly evolving and ever-expanding threat landscape. We believe the stakes and costs are even higher in Web3, given the decentralized development of and the dollars controlled by Web3 applications,” said Matt Hamilton, a Managing Director at Summit Partners, who has joined the Halborn Board of Directors. “In a very short time, Halborn has established itself as a globally recognized brand in blockchain security working across Web3 and Web2 environments. The Halborn team has earned a reputation for tackling complex projects and has an impressive record of identifying high-profile vulnerabilities and breaches.”

“Cybersecurity risk has historically been a barrier for organizations seeking to launch products in the blockchain industry. Halborn is changing this risk/reward equation and, in doing so, is expanding the addressable market for public blockchain technology. We are thrilled to partner with Halborn as they expand their product offering,” said Matthew Walsh, Founding Partner at Castle Island.

“Third Prime is focused on investing in market leaders in some of the most important areas of crypto, and we believe the Halborn team, track record and technology fit squarely in this mandate. We’re excited to partner with them as they secure companies across the space,” added Wes Barton, Managing Partner at Third Prime.

The original press release can be found on GlobeNewswire.

The post Halborn Is Pushing Blockchain Cybersecurity with $90M In Funding appeared first on Grit Daily News.

Fathom Yacht Club (FYC), co-founded by BIPOC female entrepreneur Jessica Hunt and her husband, Jonathan Sands, is the result of a mix of careers that come together perfectly to build and grow an NFT-backed decentralized yacht club.

Hunt holds a Master’s in Hospitality from Florida International University and a web development degree from Wyncode Academy, a well-respected coding bootcamp in Miami. She has also worked in marketing, Web3, and golf clubs where she’s learned about club memberships.

Sands, on the other hand, brings marine expertise as a marine surveyor with a degree in Naval Architecture and Marine Engineering from the University of New Orleans.

As a couple who lives and works in Miami and spends a lot of their free time chartering boats both locally and abroad, one thing they always felt was lacking was a social community that they could share their love for boating with. They didn’t want to join a traditional yacht club because the notion was so stale at this point. “It’s old school. We’re global now, so why not build something global,” Hunt said.

What really intrigued the pair is that through a utility-backed NFT community and a booking app, they could reinvent the yacht club membership model and make it something decentralized, associated with multiple locations, and host exclusive VIP experiences that would cater to their members.

“To me, what’s exciting is that I personally love boating – my husband and I charter boats often,” said Hunt. But as a developer who has been keeping up with the explosion of Web3 and its developments, she also said of FYC: “I love the tech that’s behind it.”

The duo decided that their hometown of Miami was also the perfect place to start FYC; after all, Miami and Ft. Lauderdale are international boating capitals, and the weather is ideal for cruising year-round.

Together, Hunt and Sands have collaborated to enhance the NFT market with Fathom Yacht Club. Three membership tiers are available, ranging from $5,000 – $15,000, each giving you access to bigger boats, the ability to bring more guests, and exclusive experiences and perks. But unlike a traditional yacht club, there are no initiation fees or annual fees, and your membership is leasable and sellable. And you don’t have to worry about any social events being at the dated clubhouse because instead, they’ll be at luxurious and contemporary locations around the world.

The post Meet Fathom Yacht Club the World’s First Tokenized Membership to a Social Yacht Club appeared first on Grit Daily News.

To that end, it is a catch-all term for the next iteration of the World Wide Web, which can make it confusing, especially if you don’t understand it. But there are plenty of resources available to get your bearings and better understand Web3, including many of the people on the forefront offering advice and education on the topic.

Among the resources out there, podcasts are one of the best since they offer unique perspectives and each episode keeps you up to date with trends and changes. Web3 SUCKS! is one such podcast, and it is focused on helping its listeners understand everything about Web3, NFTs, and the Metaverse. For those looking for an intro into Web3, or those already initiated but looking for up-to-date information, it is something to check out.

The podcast is hosted by celebrity podcaster Sebastian Rusk, the host of Grit Daily Startup Show, who has interviewed big names like Gary Vaynerchuk, Marie Forleo, Daymond John, and John Lee Dumas. Sebastian’s knowledge and experience stand out among those in the podcasting space and makes him comfortable with live interviews, which is one of the reasons Web3 SUCKS! is recorded live on Twitter Spaces.

After the live recording via Twitter Spaces, the recording is produced as a podcast episode. Moreover, it is made available to all guests on all social media platforms as a social media micro-video.

Some of the topics recently covered on the podcast include an episode on helping businesses go from Web2 to Web3 and how artists use NFTs to grow their brands. The topics are diverse, as are the guests, and it has a growing episode list and following. That includes nearly 8,000 followers on Twitter and 9,000 podcast downloads to date.

Of course, Web3 SUCKS! is only one of the resources available, but with Web3 on the horizon and developing by the day, the more information you have, the better. Web3 SUCKS! is available on Spotify, Apple Podcasts, and Google Podcasts, where you can listen to previous episodes and new ones as they come out.

Looking to book yourself or your clients on Web3 SUCKS!? Email [email protected] for more info.

The post Grit Daily Launches Web3 SUCKS! Podcast to Demystify Every Aspect of Web3 appeared first on Grit Daily News.

Spend to Earn

Customer loyalty is the key to any successful business. Loyalty leaders growing their revenue roughly 2.5x as fast as competitors and peers lacking loyalty. A loyal customer is someone who is willing to stick with a product or service through thick and thin. They are also more likely to recommend a product or service to their friends and family.

An essential tool for building customer loyalty is to offer a rewards program. In fact, according to Bond, the average consumer belongs to 14.8 loyalty programs and is engaged in 6.7 of them. Rewards programs engage customers and give them an incentive to keep coming back and refer new business. They also serve as an analytical tool providing businesses a way to track their customers’ behavior and preferences. 

There are many different types of rewards programs, but the best ones share some common features. They are easy to use, offer a variety of rewards, and allow businesses to customize the program to fit their needs. A bold player in the space with a distinguished vision, Numi3, provides a novel rewards platform for modern businesses that understand the importance of customer loyalty and are looking to differentiate themselves.  

Brand loyalty the Numi3 way

Numi3 is a crypto-agnostic Web3 rewards SaaS platform that offers a unique solution for small to medium businesses looking to offer exceptional customer loyalty programs. For businesses, Numi3 boasts a full suite solution that is well thought out and executed using the latest technologies to provide:

• easy onboarding and integration
• secure and reliable infrastructure, and
• the lowest fees on the market.

Businesses can create reward campaigns, referral programs, or giveaways to reward their customers. Numi also provides the ability to validate and process crypto rewards transactions in real-time. So this means you can earn crypto at the checkout of your grocery store. This technology is considered feasible for future use cases to process crypto transactions in real-time. This is where a consumer pays a business for a product in crypto and the payment is validated immediately.

On the customer-end, attractive features of the loyalty program include earning crypto rewards as determined by the offered rewards program. Numi3’s user-centric solution helps businesses cater to the 79% of Americans that say they are more likely to join a rewards program that doesn’t require them to carry a physical card.

The user-friendly and navigable interface offered by Numi3 allows the utilization of crypto rewards to be simple. Apart from providing a seamless experience, the platform adopts a high level of security with several layers of defense. There is also a dedicated team of security professionals who understand the intricacies of keeping digital assets secure. Numi3 provides a simplistic journey for users regardless of previous experience with cryptocurrencies.

With large-scale Web3 adoption, businesses need to grow together with their users and increase their engagement in a maturing market. Seamless implementation will allow businesses to launch an innovative reward program without the headache associated with creating novel solutions from scratch. 

Staked rewards

Another special feature Numi3 will offer to businesses is their state-of-the-art crypto wallet solution, allowing consumers to stake, save, or withdraw their rewards.

Staking their rewards will allow users to earn rewards for holding their tokens over a set period of time, as chosen by the business, giving them even more of an incentive to spend money to add to their compounding pool of points. Additionally, implemented QR code systems prevent connectivity or network service providers from ever being an issue when registering purchases during the point of sale.

The combination of several differentiators could be a game-changer for businesses looking to increase customer engagement and prevent frustrations associated with the previous generation reward programs.

Future of brand loyalty programs

The customer loyalty market is anticipated to increase four-fold by the year 2028, with most growth projected to be led by loyalty management companies implementing and integrating advanced technologies (Fortune Business Insights). Key players are introducing personalized features, demonstrating the opportune moment for Numi3 to build their market. 

Emerging trends in the reward program market include customer willingness to engage with brand loyalty programs. Bond says 95% of consumers prefer loyalty programs using emerging technology like chatbots, AI, VR, and smart devices. Additionally, 75% of consumers say they would engage more with loyalty programs they can easily access from a smartphone. (Source: Code Broker)

Inefficiencies and inconveniences riddle the current state of brand loyalty programs on both, the business and customer end. Considering that over 90% of companies have a loyalty program, there is a major opportunity to improve the reward landscape. (Source: Accenture)

Customers are unable to keep track of and transfer rewards across different platforms. Simultaneously, businesses are not seeing their reward programs benefiting them to the fullest extent. Numi3 offers a refreshing solution for businesses and customers in both revenue and user satisfaction.

There are still a lot of uncharted waters in how cryptocurrency can play a more major role in everyday lives. Consumers are starting to understand this economic landscape better. Incentivizing their participation is a step closer to pushing cryptocurrency to the economic forefront.

The post Web3 Brand Loyalty Programs Will Funnel Millions of New Users to Crypto appeared first on Grit Daily News.

BOSTON, MA – EnCirca (EnCirca.com), a 20-year ICANN-accredited domain name registrar, today introduced Altroots, the industry’s first Web3 search bar and domain registration service. Altroots enables brand trademark owners to secure their own Web3 internet address in preparation for participating in e-commerce in the decentralized web and metaverses.

World-renowned brands across a variety of industries, including McDonalds, Microsoft, Chase Bank, YouTube, and Epic Games are flocking to the decentralized web and private metaverses to establish their presence. Rather than rehashing the mistakes of Web2 (the internet), now is the time for brands to establish themselves, protect, and prepare for Web3.

While alternate roots like .eth, .crypto and .nft, have emerged, these second-level domain extensions can cause potential confusion for consumers seeking to interact with the brands they know and love on the decentralized web.

Brand Future-Proofing on Web3

Savvy influencers, creators, and organizations of all sizes are showing that they “get it” while future-proofing their brand on Web3 as a stand-alone top-level domain (TLD) that is portable across multiple blockchains and metaverses. For example, Amazon has already claimed ‘.amazon’ and ‘.aws’ rather than using “amazon.eth,” or “amazon.nft,” etc.

Encirca’s Altroots provides an industry-first ability for trademark owners to search dotBrand TLDs on the decentralized web and securely register their own.

“Altroots is designed to help trademark owners secure and protect their dotBrand TLD on the decentralized web,” says Tom Barrett, President of EnCirca. “Our search engine of over 4 million existing Web3 domain extensions can also be used to spot trademark variants that could indicate trademark infringement.”

Web2 vs Web3 Domain Names

Web2 has 1,500 TLDs regulated by the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organization that was established in 1998 to help maintain the security of the Internet. Any time you register a domain on the Internet, you agree to legal terms dictated by ICANN policies as part of the domain registration process. ICANN policies and laws provide trademark owners with multiple methods for shutting down trademark infringement. ICANN also manages the approval process for new extensions, such as .facebook, which requires a hefty application fee.

Brand owners executing blockchain strategies–ranging from decentralized finance to supply chain tracking, NFT’s, and metaverses–would traditionally have applied for their dotBrand TLD via ICANN. However, ICANN is not planning to accept any new dotBrand applications for several years.

Uncertain Environment Requires Proactivity

In the meantime, blockchain developers have introduced their own Web3 TLDs. The cost of the Web3 TLDs is closer to the cost of a second-level Web2 .com domain. There are already over 4 million Web3 TLDs, including .eth and .crypto, which respectively have about 1 million second-level domains each. Unlike Web2 domains, Web3 domains inherit the blockchain features of being anonymous and immutable.

Since there are no ICANN policies or laws for protecting trademark rights on the blockchain, companies have no recourse if their trademark is taken on Web3.

“The proliferation of NFT top-level domain names presents both an opportunity and a threat for trademark owners,” says Barrett. “For any trademark owner planning to offer blockchain services, or even a presence in a metaverse, now is the time to secure their TLD on the decentralized web.”

Web3 domains

Web3 domain names are a type of non-fungible token (NFT) that operates in blockchains, metaverses, and the decentralized web. They are used for digital wallets, digital identities, website hosting, email, and metaverse storefronts. They can be top-level, such as .brand, or second-level, such as brand.com.

The services offered by EnCirca include:

Acquisition of corporate dotBrand NFT domains in blockchain namespaces

Activation and integration of the NFT corporate domains

Backup custodian of the dotBrand NFT domains

About EnCirca

EnCirca is an ICANN-accredited domain name registrar founded by Tom Barrett in 2001. EnCirca provides trademark protection, domain portfolio management, cybersecurity, DNS and website hosting, and other domain services. EnCirca is distinguished by specializing in restricted registry operators such as .BANK, .REALTOR, .PHARMACY, and .CPA. EnCirca is active in the blockchain Web3 domain space, helping trademark owners acquire their brands on various decentralized namespaces, including the Ethereum Naming Service, the Handshake Protocol and others. Barrett is also the Chair of the Blockchain Subcommittee for the International Trademark Association. He previously led the development of the industry-leading SAEGIS trademark research platform for Thomson-CompuMark.

The post EnCirca Launches Web3 Solution to Help Companies Future-Proof Their Brand on the Blockchain appeared first on Grit Daily News.

Led by investor and entrepreneur Fernando Garcia, Bridge 3 Labs (B3L) is an Austin-based blockchain startup focused on long-term wealth creation through disruptive Web3 technology. Founded in January of this year, the startup describes itself as “the 1st NFT Venture Studio bringing access to exclusive IRL assets through utility NFT projects.”

Born in Spain and now living in San Francisco, B3L’s CEO and Co-Founder Fernando Garcia has made a name for himself as an unstoppable leader and entrepreneur. He currently holds the position of Vice President of K2 Capital and Senior Vice President at Postlane Partners, having held similar leadership positions at Gladieux Energy, CKC Partners, and Search Fund Accelerator. Fernando is now channeling all of his experience on Bridge 3 Labs, which he is sure will outperform his previous $75M fuel automation technology and distribution business.

With this mission in mind, B3L is bringing together a private community of entrepreneurs and investors from different backgrounds to revolutionize how NFTs create wealth. By sourcing, identifying, and investing in promising teams, the startup not only helps new Web3 projects get off the ground but also brings value to its members. The B3L team has over 30 years of combined experience as founders and leaders of start-ups and mid-stage across the IT, Energy, Luxury Real Estate, and Wine industries.

The project uses its own NFT “B3L Pass” not only to grant its holder access to the exclusive community but also to advanced trading analytic tools, research, educational content, private IRL event invitations, and exclusive rewards. While the use of NFTs as a means to access a community is not new by itself, the highly professional nature of the B3L pass. In addition to this, the team will soon be adding value to the Genesis Collection via “Heirloom” NFTs.

Non-Fungible Tokens have been long criticized for their highly speculative nature and supposedly “lack of value”. Heirloom NFTs address this issue by using tangible high.end luxury experiences and commodities as their backing. At this time, these include a private Bitcoin mining operation, a boutique hotel chateaux, and a world-class winery. The high value and utility of the assets backing these NFTs mean that they will be especially beneficial to long-term holders, resulting in them being an heirloom of sorts as they continue to appreciate in value.

By taking the idea of NFT away from an art-focused technological tool, B3L is looking to make them a more effective and attractive wealth-generating tool. While this would be closer to the idea behind cryptocurrencies, Heirloom NFTs differ in their use of stable IRL assets instead of services and trust. B3L is bringing the best out of the worlds of crypto, NFTs, and luxury assets into a single product, a mix that is sure to be a game changer in the long term.

The post NFTs Changed Art and Gaming Forever: B3L Doesn’t Think That’s Enough appeared first on Grit Daily News.

We recently asked him about trading in crypto, where retail investors fit in, and what the pros know that everyone else should hear about.

Grit Daily: Would you say that trading in the crypto market is any riskier than trading in traditional markets?

David Weisberger: Potentially, but not necessarily. Crypto offers more leverage than traditional markets,
particularly in perpetual swaps and futures, but traders do not have to take advantage of that
leverage. From a counterparty risk perspective, there is no central counterparty, so that implies
more risk. That being said, the real time risk engines of crypto exchanges mean that there is
lower systematic risk, while 24 hour trading means there is more time to reduce risk when
necessary.

Grit Daily: Do you know of any strategies traders may use to reduce this risk with crypto?

David Weisberger: There is no need to use leverage to trade in crypto and even if one does want to use it, they can use the appropriate amount adjusted for the volatility of the asset. To be clear, if trading an
asset that is 3 times more volatile than the traditional assets one normally trades, then use 1/3
the leverage. Other risks in crypto include custodial risk, but that can be mitigated by using
counterparties who insure deposits and the appropriate multi-signature software for transfering
assets.

Grit Daily: Have you noticed any hesitation from institutional traders when it comes to crypto trading? Are there any ways to reduce this hesitancy?

David Weisberger: It depends on how one defines “institution.” Traditional institutional buy and sell side firms
hesitation is quite real and emanates from their compliance departments due to a lack of
regulatory clarity in the U.S. This would be mitigated if a bill such as recently put forward by
Senators Lummis and Gillibrand became law. Hedge Funds, however, are moving to trade
crypto assets at an accelerating pace.

Grit Daily: How does the platform Coinroutes provides help traders looking to get into crypto?

David Weisberger: CoinRoutes helps in multiple ways, but primarily by allowing traders to be confident in how to minimize transaction costs. Our system achieves prices superior to optimal smart routing and
provide institutional quality Transaction Cost Analysis on all the trades executed.

Grit Daily: What benefits do professional or institutional investors get from using the Coinroutes
platform? Are there any benefits for traders already experimenting with crypto?

David Weisberger: In addition to trading at lower cost per trade, the CoinRoutes system is dramatically more cost effective for firms. Instead of hiring programmers and paying datacenter and infrastructure
costs, CoinRoutes typically will offer its trading software for less money in the aggregate.
Considering that our software is the result of 15 years of developer effort and routinely
outperforms smart routing, the result is substantial net savings.

Grit Daily: Do you think now is a good time to get into crypto trading? Why or why not?

David Weisberger: As Warren Buffet says, “buy when others are fearful and sell when they are greedy.” At this point, there is substantial fear in the crypto market, but there is also a certainty among
participants that the market is here to stay. As a result, while DeFi trading via distributed
exchanges is viewed as extremely risky, there are still good opportunities for traders to
profitably implement strategies on trustworthy centralized exchanges or with well capitalized
market makers that are rapidly maturing.

Grit Daily: Do you still see a lot of potential for growth in crypto, or has it already hit its peak?

David Weisberger: Crypto is probably comparable to Internet technology in the 1990s, with the investable assets more comparable to those which existed in 2001. I say this because the actual technology to create an internet of value is in its infancy, but investment in protocols and use cases ran ahead of the technology twice already (in 2017 and 2021-22). The potential, however, is enormous in
three distinct areas:
1) Bitcoin as the base layer to transfer value seamlessly on a global basis. While individual
transactions will likely use networks (such as Lightning) built on top of Bitcoin, the base
layer is likely to be THE store of value for the digital world. Despite prices sinking, the
adoption metrics have been improving.
2) DeFi as disruptive technology to introduce competition and efficiency to financing
businesses globally. Much of today’s DeFi is based on regulatory or tax arbitrage and
the protocols & businesses are immature, but there is substantial promise for the
technology.
3) Web3 including NFTs and individuals retaining control and value of their own data and
application usage. This is a very broad topic, but I will use one example to illustrate.
Consider the immense value created by open source software. Most of that was done
without compensation to developers, so imagine what could be created with financial
incentives built into the process. Similarly, consider the potential if all creators had the
means to earn value directly without paying intermediaries…

The post David Weisberger, CEO of CoinRoutes, Explains How Crypto Traders Reduce Their Risk appeared first on Grit Daily News.

But the way people make large amounts of money is changing, and the way that money is spent is changing too. Where once fortunate people would climb the corporate ladder to take on swathes of responsibility and capital, the ability to become wealthy has been somewhat democratized with the rise of cryptocurrency and self–made internet personalities. People who cater to the deepest desires of billionaires, such as Jonny Dodge, have identified the trends in tycoon tendencies as they become more ambitious.

Age is just a number

The age of the world’s billionaires may be changing, but the wealth of young tech entrepreneurs is keeping up with the conventional capital of their older counterparts. Companies in the luxury sector are beginning to open up to blockchain and alternative payment methods to enable a financial influx from the new affluent generation. 

Cryptocurrency and opportunities in Web3 are, inherently, the playground of this internet cohort. The impact has been a significant trend towards high net worth figures emerging at earlier ages, thus influencing billion-dollar spending habits.

“In the last two years, the average age of a superyacht owner has dropped by 10,” Dodge outlined. “It used to be people in their 40s and 50s that could afford these luxury items; now it’s people in their 30s and 40s. That shift is mainly due to the Web 3.0 and emerging tech such as A.I boom and the evolving design, use, and attraction of yachts.”

A new nomadic lifestyle

Alluded to earlier was the mansion-like imagery often associated with wealthy people. It’s a truth that has been largely accurate for the past centuries as real estate made for one of the most stable investments for those with abundant capital.

The way people make money, especially since the pandemic, has changed from the lowest to the highest earners. Income is no longer tied to geographical locations such as office blocks. As a result, many billionaires’ life structure and expenditure have changed dramatically, with perpetual travel enriching the lives of those with the financial reserves to commit to it.

“Entire industries in the luxury space have changed so much,” Dodge explained. “People are far more nomadic now, so they use the likes of yachts and jets as second homes. It has created a brand new environment and way of living in the luxury world. The trend across the board is towards longer trips that last several months at a time, which means the yachts and jets are getting bigger and more lucrative.”

The economy of experiences

Tangible investment in the likes of a superyacht has some limitations for crypto billionaires who want to live an unrestricted life. Therefore, worldwide experiences can offer the pinnacle of exclusivity that 2022’s wealthiest crave.

“Money is no object in the unique experiences that today’s billionaires are seeking out,” Dodge said. “We’re talking about trips to space, breakfast at Everest Base Camp by helicopter, or flying to each of the seven wonders of the world in one week. Experiences can also be about billionaires taking their mobile properties to the next level. An example is hosting celebrity DJs at parties on their private jets.”

These nomadic lifestyles, centered around lavish social events, bespoke customization, and uncharted experiences, culminate in a new sense of impermanence surrounding current billionaire spending. The nature of today’s capital—often held in fluctuating cryptocurrency wallets—mirrors and justifies the uninhibited worldview at play. As centralized finance is displaced, so too are conventional spending patterns among the most successful entrepreneurs.

The post Jonny Dodge Shares How He Caters to Young Emerging Billionaires appeared first on Grit Daily News.