Cryptocurrency exchange Bitfinex has announced an open-source peer-to-peer data streaming platform. 

An alternative to centralised platforms

The “Dazaar” protocol has been uploaded by GitHub, with Bitfinex describing it as a crypto-powered protocol for monetised data streaming. 

Bitfinex says it was inspired to create the platform to offer an alternative to the increasing reliance on centralised platforms like search engines, social media, and messaging apps, to enable the sharing of data and media. 

The Dazaar protocol was developed as an extension to the Massachusetts Institute of Technology-licensed Hypercore Protocol, and involves distributed node operators storing the information shared among users. 

According to Bitfinex, Dazaar provides a hyper-scalable, decentralised, and privacy-oriented protocol, that can be implemented in any existing project. 

It allows users to monetise their data without the need for intermediaries. Buyers and sellers will use a unique cryptographic identifier, termed the “Dazaar Card”, and crypto or credit cards will be used to purchase streams. 

A live-streaming desktop app, Dazaar Vision, is also included, complete with subscription and broadcast management. 

Battle of the crypto-streaming platforms

There’s increasing competition in the crypto-powered streaming arena. In May it emerged that Theta.tv’s crypto-powered esports streaming app is set to be integrated with 75 million Samsung devices around the world, with the news causing the platform’s tokens to surge more than 1,000% since mid-March.

Tron has also forged a partnership with gaming platform Refereum, and will be rewarding streamers and gamers with Tron (TRX) or BitTorrent (BTT) tokens. 

AYO.NEWS says:

With so many aspects of life and communication becoming centralised, and subject to ever increasing regulatory requirements, it’s great to see the crypto community is still developing decentralised solutions to ensure the free flow of data and media. And, by offering fiat onramps with Dazaar, Bitfinex has positioned its platform as a real alternative, even for those not familiar with crypto. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Portuguese esports startup Replai has raised USD $1.3M (approx. €1.16M) in a seed funding round. 

Porto-based Replai harnesses artificial intelligence (AI) to create short videos in real-time. The company says the resulting social media ready clips enable audiences to be maximised and more revenue to be generated for sponsors and advertisers.

Investors were led by Lisbon-based Bright Pixel, with contributions from Ideias Glaciares and Clever Advertising. The company says the new capital will be used to expand internationally, with a focus on the United Kingdom and United States. 

Discussing their plans for the company Founders of Replai, João Costa and Francisco Pacheco, said:

“Forecasts show that esports will soon beat traditional sports. However, monetization is still far behind other fields such as mobile gaming – which is expected to top $100b in revenue by 2020, for example. 

“So, our mission is to help esports companies profit from this paradigm shift. This round allowed us, above all, to gather a panel of experts in gaming and technology that will help us take the next step growth-wise as soon as possible.”

While Co-founder of Bright Pixel, Benjamin Júnior, added:

“Replai stands out for their AI technology which enables automatic creation and distribution of short videos, this being a transversal need to any area that uses video as a communication method. 

“Besides the innovative solution, Replai is founded by two young entrepreneurs with a proved record of user acquisition, strong technical know-how and the ambition to grow the business globally. This combination of factors was decisive and provides us confidence in consolidating Replai’s success.”

AYO.NEWS says:

Despite the phenomenal growth of esports, it’s true that many in the sector are still struggling with monetisation, so there’s sure to be a lot of interest in Replai’s offering. Of course, whether or not it will actually deliver on its monetisation promises is another story, but it’s definitely a company to watch.

NO ESCAPE! #replai #goreplai #createdbyreplai #tiktok #foryou #fyp #gaming #tiktokgaming #foryoupage #fornite #fortniteclips pic.twitter.com/HHKkLRfpvc

— Replai (@goReplai) June 24, 2020

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Yet another crypto company is facing a lawsuit in the United States, after a US District Court approved action against ParagonCoin Inc, at the federal level. 

California-based ParagonCoin, which is now bankrupt, will face a class-action lawsuit alleging the company’s 2017 $70 million initial coin offering (ICO) violated securities laws. 

ParagonCoin had pitched its PRG tokens as a currency for the rapidly emerging cannabis industry, and attracted investors from all 50 US states. The company claimed it was going to “solve nearly every issue facing the cannabis industry”, by using blockchain tech to track every stage of cultivation. 

However, the capital raised during the ICO was allegedly used to buy real estate rather than develop revolutionary technology. Popular rapper The Game, who was a member of ParagonCoin’s advisory board, was also sued over his involvement in promoting the ICO. 

The class-action lawsuit was originally brought against ParagonCoin back in January 2018 by investor Astley Davy. He insisted that the company should be forced to disgorge its earnings because it failed to register its token sale with the Securities and Exchange Commission (SEC) – something the company was fined for in November 2018. 

AYO.NEWS says:

It feels like an ICO is unravelling almost daily now, as duped and disgruntled investors finally manage to get the clunky gears of the legal system to start turning. Just last week we reported that Centra Tech founder, Robert Farkas, had pleaded guilty to a $25M ICO scam, and is now facing between 70 and 87 months in jail and a $250K fine. 

Meanwhile, BitMEX and its executives are facing what could end up being the mother of all crypto-related lawsuits – accusing them of racketeering, money laundering, wire fraud, and unlicensed money transmission that could be worth many billions of dollars. 

Despite the failure of ParagonCoin to develop blockchain tech for the cannabis industry, other companies have done just that. Earlier this month we reported that Uruguay Can has launched the world’s first blockchain-based traceability platform for medical cannabis. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

FC Barcelona’s Fan Token ($BAR) flash sale sold out in under 2 hours, generating $1.3M (USD). 

On Monday 22 June 2020 FC Barcelona, in partnership with Malta-based Chiliz, announced the launch of the FC Barcelona ($BAR) Fan Token with a 48-hour flash sale at a special price of $2 per token. 

According to Chiliz, trading hit $1M in volume in just 6 minutes, and 600,000 tokens were sold across 106 countries in under two hours, generating $1.3M.  

Within the first 5 minutes of trading on Chiliz.net, the $BAR token price surged 200%, with demand exceeding supply by five times. Yesterday $BAR was trading at around $6.60. 

Commenting on the launch CEO & Founder of Chiliz and Socios.com, Alexandre Dreyfus, said:

“The excitement among sports fans and crypto enthusiasts for the $BAR Fan Token has been unprecedented and amazing to witness.

“$BAR has the power to be a major driving force for the Chiliz Exchange, powering the new narrative that is building around the trading of tokenised sports organisations in crypto, sports, business and finance circles.

“I look forward to watching interest and participation in this exciting new class of digital asset trading continue to grow as many more Fan Tokens from globally recognised sports brands list on the exchange.”

Fan Tokens for Galatasaray ($GAL), Paris Saint Germain ($PSG), AS Roma ($ASR), Atlético de Madrid ($ATM) and esports team OG ($OG) have also seen price rises since listing on the Chiliz.net exchange recently.

AYO.NEWS says:

Of course, it is still early days for Chiliz and Socios.com, and given the immense global fanbase of FC Barcelona there was always going to be considerable interest when $BAR launched. 

The question now is, will Fan Tokens follow the typical altcoin trajectory, with a surge at launch, driven by those looking to make quick money and fuelled by social media hype, or will they prove able to hold their value and build the engagement hoped for over the long-term? 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

According to crypto research company Messari, if institutions allocate just 1% of their portfolio to Bitcoin (BTC), it could drive prices to $50,000. 

Indeed, Messari’s Ryan Watkins posted statistics showing that it would only take a tiny 1% allocation from institutional investors like endowments, foundations, family offices, sovereign wealth funds, pension funds, and mutual funds, to add $480 billion of new money to the BTC market. 

What would it look like if institutional investors followed Paul Tudor Jones and allocated a “low single-digit percentage” to #Bitcoin?

Here’s what we found using our best estimates of global inst. investor AUM.

TL;DR?

Hundreds of billions if not trillions $ in inflows

1/ pic.twitter.com/mk6lEiI0UE

— Ryan Watkins (@RyanWatkins_) June 23, 2020

Based on research from Chris Burniske, that shows when fiat money flows into cryptocurrency it typically leads to price gains of between 2x and 25x, Watkins concludes that extra $480 billion could well push BTC’s price to $50K and market cap to over $1 trillion. 

Watkins believes that hedge funds will be the first institutional movers in the BTC market, and has detailed the effects he believes a 1% hedge will have in a new report called When the Institutional Investors Come. But others, including Ryan Radloff, CEO of major custodian Kingdom Trust, believe it will be the United States’ $28 trillion retirement sector that leads the charge into Bitcoin. 

AYO.NEWS says:

Whether it’s hedge funds or pension funds that take the plunge into crypto first, with the world’s traditional economy teetering on the edge of a COVID-19 sparked cataclysm, and institutional-grade crypto infrastructure improving daily, it seems inevitable that the long-awaited institutional crypto tsunami will come sooner rather than later. 

Staying with Bitcoin, earlier this week Chinese miner manufacturer Ebang revealed it is planning to list on the Nasdaq Global Market this week. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Markus Braun, the former CEO of German fintech company Wirecard, has been arrested by police in Germany, charged with misrepresenting the company’s balances. 

According to media reports, Braun, who led the company for almost twenty years, is accused of conspiring to make the company more attractive to investors by inflating the company’s assets, and total revenue, through false transactions with “third-party acquirers.” 

Apparently, the bogus funds totalled around €1.9 billion, which were portrayed as being held in a trust account in two banks in the Philippines. That equates to more than 32% of Wirecard’s supposed assets of €5.8 billion.

The scandal became public last week, forcing Braun to resign immediately, and Wirecard’s board of directors yesterday issued a statement saying they believe the Philippine-held funds do not exist. 

Wirecard’s future now seems very uncertain, with its share price crashing almost 85%, which could be bad news for many other companies, as it is the principal issuer for many cryptocurrency debit cards, including Crypto.com and Wirex.

However, Wirecard-issued cards are currently operating normally, and Crypto.com has stressed its debit cards are 100% pre-funded, with the reserves held in a separate UK bank. 

AYO.NEWS says:

With the global economy already facing an unprecedented crisis due to the COVID-19 lockdowns, a scandal like this couldn’t come at a worse time. Given the number of other companies that rely on Wirecard services, there’s a very real risk of a cascade of problems if the company collapses. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020