Kategorie: Crypto Business

The Nailwal Fellowship, an initiative founded by Sandeep Nailwal, co-founder of Polygon, has opened its application process for its 2024 cohort. The fellowship aims to support the brightest minds in the web3 space by providing them with financial support, mentorship, and comprehensive resources to explore innovative web3 ideas and develop new crypto projects or startups.

Sandeep Nailwal is an Indian entrepreneur, software developer, and blockchain expert, but he’s perhaps best known for co-founding Polygon in 2017, which was initially known as Matic Network.

Polygon, a Layer 2 scaling solution, has grown into one of the most influential platforms in the blockchain ecosystem, offering scalable and user-friendly solutions for decentralized applications. Nailwal’s leadership and vision have been instrumental in Polygon’s evolution, making it a cornerstone of the web3 landscape.

The Nailwal Fellowship Program

Nailwal launched the inaugural Nailwal Fellowship last year, when 8 fellows received $50,000 each as well as a wealth of technical support, mentorship and networking opportunities to help get their innovative ideas off the ground.

Last year’s winners of the inaugural fellowship were:

• Adam Achebe: A Stanford Computer Science undergraduate focusing on liquidity challenges in the commodities industry.
• Ananya Kandelwal: An Indian student creating new payment rails for global commerce.
• Evgenii Danilenko: An Ethereum Foundation core developer working on advanced cross-chain infrastructure.
• Joe Frazier: Former CTO of an NFT aggregator building new data indexing infrastructure.
• J Paul Meyer: An ex-Goldman Sachs employee and Harvard graduate developing on-chain financial products.
• Remi Gai: A repeat founder working on a new layer 1 solution using homomorphic encryption.
• Shashank Yadav: An IIT Masters student and ML Engineer at Goldman Sachs creating a marketplace for AI data.
• Tomas Taylor: An HBS graduate and former Dapper Labs employee developing an open platform for AI agents​

Applications now open

Applications for the 2024 cohort are now open, with a deadline of 22nd July 2024​.

This year’s fellowship will again offer each of the chosen fellows a $50,000 grant, technical resources and support, mentorship, and access to a network of industry leaders and investors through Symbolic Capital, a venture capital firm Nailwal co-founded.

This support is designed to allow fellows to dedicate six months entirely to their projects, fostering innovation in the web3 space.

With a strong commitment to diversity and inclusion, the fellowship is actively working to recruit more female applicants, addressing the gender imbalance in the web3 sector. By collaborating with organizations like SheFi and H.E.R. DAO, it aims to create a more inclusive environment for future cohorts​.

The post Web3 Builders Invited to Apply for Nailwal Fellowship appeared first on CoinJournal.

Impressive growth forecast is driven in part by growing demand for paysafecard deposits on online casinos

In an impressive financial turnaround, Paysafe’s recent quarterly financial results offered an annual revenue forecast of $1.7 billion for the payment provider for 2024, partly fueled by the rising popularity of Paysafecard deposits with online casinos. 

Paysafe’s Q1 financial results revealed first quarter net income of $3.1 million, a marked improvement from the $3.8 million loss it reported in the first quarter of last year. Bruce Lowthers, the fintech company’s CEO, attributed the impressive year-on-year turnaround to Paysafe’s white-label wallet strategy, its expanded sales team, and its renewed focus on enabling casinos and iGaming sites to allow deposits via Paysafe, particularly in the USA.

The company’s revenue for the first quarter grew by 8% year-over-year, reaching $417.7 million, while its adjusted EBITDA stood at $111.9 million, reflecting a 4% increase. This growth is primarily driven by the expanded use of Paysafecard, which is becoming an increasingly popular payment method for online gambling sites.

Paysafe’s Merchant Solutions segment saw an 11% rise in revenue due to substantial growth in e-commerce and small to medium-sized businesses. The Digital Wallets segment also experienced growth, fueled by the gambling sector and enhanced product engagement.

Strategic Partnerships Expected to Fuel Paysafe’s Growth

Bruce Lowthers highlighted the success of Paysafe’s strategic initiatives, including the expansion of its sales team and a new white-label wallet strategy through a partnership with Xsolla. These initiatives have significantly contributed to the company’s robust performance and optimistic growth prospects.

Paysafe’s financial outlook for 2024, with expected revenue between $1.688 billion and $1.712 billion and an adjusted EBITDA ranging from $473 million to $488 million, underscores its confidence in its sustained growth. The company’s strategic focus on the iGaming sector and its collaboration with major payment networks like Visa are expected to further drive its financial success.

Online Casinos Projected to Record CAGR of 11.7%

Highlighting Paysafe’s opportunities for growth, market projections for the global online gambling sector indicate that it will reach an annual value of $153.57 billion by 2030, at a compound annual growth rate (CAGR) of 11.7% over the next six years. 

This growth is driven by several key factors, including the increasing availability of free-play versions of online casino games and the adoption of advanced digital payment options.

Free-play versions of online casino games have proven to be a major draw for new users. These versions allow players to experience games without financial risk, which helps build trust and familiarity with online gambling platforms. This model also generates revenue through advertisements integrated within these free-play environments​.

At the same time, the growing availability of digital payment options, including blockchain-based solutions and digital wallet solutions like Paysafe, are removing friction, making it easier for players to deposit and withdraw funds. 

A significant portion of iGaming, approximately 75%, is already funded through digital payment methods such as Paysafe and cryptocurrencies​. As much as 40% of these payments are made via cryptocurrencies, reflecting their growing acceptance and convenience in the online gambling space​.

The combination of these payment innovations and the user-friendly nature of online casinos is contributing to the sector’s rapid expansion. This trend presents substantial growth opportunities for payment providers like Paysafe, which are well-positioned to capitalize on the increasing demand for secure, efficient, and versatile payment solutions in the iGaming industry​.

As the online gambling market continues to evolve, Paysafe’s strategic focus on enhancing its digital wallet capabilities and expanding its presence in the iGaming sector will likely drive sustained growth. The company’s ability to adapt to market trends and meet the needs of modern online gamblers positions it as a key player in the future of digital payments for online casinos.

 

The post Paysafe Forecasts Annual Revenue of $1.7 Billion appeared first on CoinJournal.

• Marathon Digital has partnered with Kenya to harness underused energy across the country for Bitcoin mining.
• The deal will see over $80 million invested in projects aimed at boosting renewable energy utilization and optimization. 

Bitcoin mining firm Marathon Digital has signed a major deal with the Ministry of Energy and Petroleum of Kenya.

Sealed today, May 24, 2024, the agreement provides for partnership that will see the BTC miner harness the country’s underutilized energy for Bitcoin mining.

Marathon to tap into Kenya’s underutilized renewable energy

Marathon struck the deal during Kenya’s President William Ruto’s State Visit to the US.

According to the company, the agreement will see more than $80 million invested in “green data centers to boost renewable energy utilization and optimization in the Republic of Kenya.”

“This agreement with the Ministry of Energy and Petroleum is a pivotal moment for our business as it provides us with a clear framework to pursue opportunities across the Republic of Kenya,” Fred Thiel, Marathon’s chairman and CEO, said in a press release.

The company will work with the Kenyan government and other stakeholders to support initiatives aimed at optimizing energy usage across the country as well as development of key technological infrastructure, Thiel added.

Today’s agreement follows an earlier consultation between Marathon and Kenya, with this deal set to boost the country’s renewable energy sector.

MOEP and Marathon are set to “exchange policy, scientific, and technical information, as well as project investment expertise, to better understand how to optimize renewable energy projects that produce surplus energy due to intermittency and seasonal variations,” the company said in the press release.

Recent data showed that Kenya’s renewable energy sources accounted for over 80% of the country’s electricity generation. Of these renewable or clean energy sources, geothermal is the largest.

But although its estimated potential is 10,000MW, it is largely unexploited. Installed capacity was about 860MW in 2022.

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Key takeaways

• London-based Revolut has launched Revolut X to compete with leading crypto exchanges.
• Bitbot’s presale has now officially crossed the $3.2 million mark.

Revolut X is now live for experienced traders

Financial institutions continue to troop into the cryptocurrency space and London-based Revolut will not be left out. The digital bank announced the launch of Revolut X earlier today as it seeks to compete with the leading cryptocurrency exchanges. 

Revolut X is a standalone exchange designed to attract users to trade through it instead of buying and selling cryptocurrencies with the Revolut app. Revolut X offers lower fees and currently charges zero fees to the maker of a trade and 0.09% to the taker.

What is Bitbot?

As major institutions continue to enter the crypto space, new projects continue to emerge to provide better services to users. Bitbot is one of the projects to look out for as it is set to introduce AI to the crypto trading ecosystem.

Bitbot is a Telegram AI trading bot that allows traders to gain access to some exciting features that would help them with their cryptocurrency trading journey. This solution will make it easier for users to trade cryptocurrencies via their cold wallets on Telegram.

Telegram is currently the leading messaging platform for cryptocurrency users and Bitbot intends to leverage its millions of users to gain massive adoption. Bitbot will give traders access to a wide range of tools that will help them execute trade faster, securely and more transparently. 

Bitbot is launching its solution at a time when the total cryptocurrency market cap is approaching the $3 trillion mark. Bitbot could provide services to retail and institutional traders in the cryptocurrency market.

Bitbot to provide AI trading services to retail traders

Bitbot will provide trading services to retail traders as they remain crucial to the crypto market. This trading tool will focus on offering tech-savvy features to ease the trading process for users.

The security of user assets is a crucial part of Bitbot. Bitbot will use the Knightsafe feature to offer a self-custody solution, eliminating the typical risks associated with Telegram trading.

In addition to that, the platform will integrate anti-MEV and anti-rug solutions to help users protect their assets. With these security features, traders won’t fall for scam projects or bots that artificially pump transaction costs when using Bitbot. 

Bitbot will also integrate an ultra-flexible wallet management powered by non-custodial API technology into its tool. The technology would allow users to have an extra layer of security to ensure the safety of their funds.

Finally, with the Copy Trading feature, it is easy for newbie traders to trade and gain knowledge from experienced traders. This feature will enable novice traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale surpasses $3.2 million

The Bitbot presale is progressing excellently and it is currently in its 13th stage. So far, Bitbot has raised $3,210,841 of the required $3,546,000 for this stage. As the presale grows, it indicates rising interest from investors.

Currently, the $BITBOT token is going for $0.018 but is set to increase to $0.0189 once the 14th round commences. 

In their whitepaper, the development team revealed that they will receive 20% of the total token supply and use it to fund ongoing development. 14% of the total token supply is allocated to marketing & CEX listings while another 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale.

Should you invest in the Bitbot project?

The Bitbot presale is moving along excellently and the opportunity to invest in this project continues to decline with each passing round. Historically, presales are the best times to invest in crypto projects as they allow investors to buy tokens at a discount before they get listed on cryptocurrency exchanges.

Bitbot could become one of the leading AI trading platforms in the cryptocurrency space. Its native token could record a massive surge in price if Bitbot gains the right level of adoption.

The post Revolut’s crypto exchange goes live as Bitbot’s presale surpasses $3.2M appeared first on CoinJournal.

Launched in January 2024, HugeWin Casino has an ambitious goal to become the biggest online crypto casino platform, and has already taken significant strides towards achieving that aim.

The site now boasts over 7,000 slots and over 700 casino games, and users are now able to make deposits in 8 different cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Tron (TRX), Dogecoin (DOGE), Binance Coin (BNB), Litecoin (LTC), and Ripple (XRP).

Security and transparency are top priorities for HugeWin Casino. Their team is committed to ensuring users feel safe when gambling or betting on sports, knowing their personal information and money are protected. 

HugeWin also obtained the Curaçao eGaming License (CEG) to prove their commitment. Plus, they offer strong security features like Two-Factor Authentication (2FA) through Google Authenticator.

HugeWin also takes a proactive approach to preventing illegal activities through its comprehensive Anti-Money Laundering (AML) Policy and implementing Know Your Customer (KYC) Policies to verify player identities and combat fraud effectively.

Aside from security, HugeWin Casino offers a wide range of games from popular developers. With over 7,000 slots, including classics and new variations, there’s something for everyone.

You’ll also find over 700 casino games, from live tables to poker and blackjack, as well as exciting tournaments. And don’t miss out on fan-favorite games like Aviator, Zeppelin, and Spaceman, which add an extra delight to the gaming experience.

For sports fans, HugeWin Casino has a dedicated section with over 51 sports and activities to bet on. From Rugby and MMA to esports like Counter-Strike and League of Legends, there’s plenty to keep you entertained.

Accessible Crypto Gambling

To attract users effectively, a crypto casino must prioritize ease of access. Without a user-friendly platform for a global audience, reaching success becomes a notable challenge. Fortunately, HugeWin differentiates itself by showcasing a strong commitment to users and an international outlook.

HugeWin goes above and beyond by providing its website in more than 34 languages, making it an ideal choice for cryptocurrency gambling enthusiasts worldwide. Available languages include English, French, Chinese, Portuguese, Romanian, Deutsch, and Turkish, ensuring a diverse and inclusive experience for users across the globe.

And let’s not forget that you can start playing on HugeWin with as little as $1. This level of flexibility enhances HugeWin’s appeal as a user-centric and globally accessible cryptocurrency casino, welcoming enthusiasts from all corners of the world.

Quick Cash-Outs

Once you’ve enjoyed the exciting gambling and betting activities offered by HugeWin, you can instantly cash out your winnings. 

HugeWin’s expert team understands the users’ needs and has introduced a highly appreciated feature – instant cash-in and cash-out. Users can quickly transfer their winnings to their bank accounts or crypto wallets in seconds.

Recognizing the frustration users experience when their money is tied up in a platform, HugeWin allows users to instantly cash out their cryptocurrency, regardless of the type they use. 

This feature ensures that users have fast and easy access to their funds, setting HugeWin apart from many competitors with potentially unfair cash-out policies.

Stay Up-to-Date

To remain informed, consider making it a routine to visit the casino’s website and become part of its community. 

In addition, you can stay up to date with the platform’s growth by following HugeWin’s X (Twitter) and Telegram updates, ensuring you’re among the first to hear about the latest launches and promotions.

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