MENA based Arts DAO NFT community partners with Crypto wallet provider Ledger

MENA based Arts DAO NFT community partners with Crypto wallet provider Ledger

MENA based Arts DAO (Decentralized Autonomous Organization) and NFT and Web3 community with presence in UAE, has partnered with Ledger, a digital asset storage provider, to offer hardware crypto wallet solutions to its members. 

Arts DAO is currently investing in blue-chip NFTs, supporting major corporations with their Web3 strategy, and backing great founders building in Web3.

France-based Ledger, which employs more than 800 people has sold more than five million devices to customers in 200 different countries and is responsible for securing 20 percent of all crypto assets stored globally as of today.

‘100 Ledger NFTs,’ the first Ledger NFTs ever released, were part of a limited-edition collection created by Arts DAO to honor this groundbreaking partnership. Additionally, Arts DAO provided community members with branded ledgers, allowing NFT owners to claim a physical Ledger hard wallet.

“Ledgers are a so-called ‘cold storage’ solution,” explains Danosch Zahedi, Co-Founder of Arts DAO. “People are always looking for safer places to store their cryptocurrency, and thanks to decentralized finance, anyone with a cold storage wallet may basically act as their own bank. This is crucial in light of recent market volatility in the cryptocurrency space as well as future-defining events like the FTX collapse.”

According to Anas Bhurtun, Co-Founder of Arts DAO, “Dubai has constantly shown its dedication to the virtual economy, with historic regulatory developments providing a framework for companies dealing with digital assets like cryptocurrencies and NFTs.”

As explained by Ledger, what you actually own when you purchase a cryptocurrency is a “private key,” a vital piece of data required to approve outgoing transactions on the blockchain network. Anyone who is aware of this key may use the related funds. There is no bank or other organization to back you up or provide you with a replacement if your private keys are lost, stolen, or if you keep them on a device that malfunctions. As a result, you lose access to your cryptocurrency.

Arts DAO advises clients to use a hardware wallet solution, where your private keys are kept offline in a hardware wallet so only you have access to them. As a result, your wallet is no longer at risk of being compromised by hackers who can’t get to the device or the private keys inside. Even if a hacker manages to take over your computer, they won’t be able to access your crypto assets by stealing your private keys if you have a hardware wallet. The risk of hacking is reduced because your private key is stored offline.

Arts DAO is looking to expand into many more avenues with their clients, including blockchain gaming, blockchain streaming and music, and digital fashion. The two main pillars of Arts DAO are community and consulting. With hundreds of members as of today and rapidly growing, the community is bringing together the Middle East’s largest Web 3.0 community.

Nasdaq launches Digital Assets Business for institutional investors

Nasdaq launches Digital Assets Business for institutional investors

Nasdaq has launched its Digital Assets business unit that as they note will power the digital asset ecosystem. Nasdaq aims to provide trusted and institutional-grade solutions, focused on enhanced custody, liquidity and integrity.

Adena Friedman, President and Chief Executive Officer, Nasdaq stated, “Nasdaq Digital Assets builds upon the successful solutions we have introduced in recent years to serve the digital assets ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products. The technology that underpins the digital asset ecosystem has the potential to transform markets over the long-term. To deliver on that opportunity, our focus will be to provide institutional-grade solutions that bring greater liquidity, integrity, and transparency to support the evolution.”

Nasdaq Digital Assets will initially develop an advanced custody solution that will incorporate liquidity and execution services to address industry challenges around connectivity, availability, and efficiency. Nasdaq’s custody solution will bring together the best attributes of hot and cold crypto wallets through an innovative technology offering, which will provide a high degree of accessibility and scalability without compromising security. Nasdaq’s offering is subject to regulatory approval in applicable jurisdictions.

“Demand among institutional investors for engaging in digital assets has increased in recent years, and Nasdaq is well-positioned to accelerate broader adoption and drive sustainable growth,” said Tal Cohen, Executive Vice President and Head of North American Markets, Nasdaq. “Nasdaq is uniquely placed to address industry pain points by improving liquidity, scalability, and resiliency, with the goal to engender greater trust and confidence in the digital assets ecosystem.”

Nasdaq Digital Assets will be led by Ira Auerbach, Senior Vice President, Head of Digital Assets.

MENA Web 3.0 Blockchain communications platform, Pravica launches the first DcFi

MENA Web 3.0 Blockchain communications platform, Pravica launches the first DcFi

Headquartered in Egypt with a presence in the UAE, Pravica, the everyone-to-everyone communication platform, offering a native Web 3.0 Blockchain-enabled unified, secure and privacy-compliant messaging platform, has launched the first DcFi (Decentralized Communications and Finance) platform under the name Pravica Club.

The platform is an extension of what Pravica has already been working on for the past three years. Pravica applications, built on Stacks Blockchain and secured by Bitcoin, has developed and launched a completely decentralized Web 3.0 communications platform that can be utilized by both enterprise and individuals securely and easily. Pravica is one of the very few in this sector that offers live products, the Pravica Messenger for mobile devices and now Pravica club.

Mohamed Abdou, Founder and CEO of Pravica explains, “Today there is a high demand for decentralized secure and private communications applications. Projects of this kind have already raised millions of dollars, even though they have yet to build something. At Pravica we are aware that building in Web3 is not easy, especially when it comes to communications apps because of the large amount of data coming in and out, that is why we started early on solving all the problems using a different stack of tools to ensure we have a highly scalable and easy to use the product. We have a great advantage and are offering tangible products.”

The Pravica Club is the first DcFi platform offering several interesting features. It is a DcFi platform because other than allowing for Web3 and native crypto conversations it also offers seamless in-chat payments and stacking pools similar to most DeFi applications out there.

The crypto-native decentralized messaging features include:

Users of Pravica Club are on-boarded with their decentralized identity from BTC domains which are registered through a smart contract on Stacks Blockchain, secured by Bitcoin. No email, phone number or any personal information is required.

All messages are encrypted. Messages can be cryptographically linked back to the crypto wallet by signing special messages with currently the Hiro wallet. In the future, Pravica is working to enable full functionalities of wallet-to-wallet conversations, as well as enabling users to invite others using wallet addresses for full interoperability.

Gideon Greaves, Managing Director CV VC Africa, says, “Pravica club is truly disrupting the way we communicate online. It’s only a matter of time before the web3 community moves away from centralised communication platforms. I believe Pravica club is where they will go. The features, secure platform and team within Pravica are world-class.”

Users don’t need to copy and paste NFTs to be used as profile pictures, but instead, extract the NFT from their wallet and showcase it as a verified avatar. The NFT is authenticated by each user’s wallet. In the future, these NFT avatars will be utilized to unlock other offerings in Pravica Club.

Users can send cryptocurrency payments, as likes, and enter stacking pools. Content creators can thus monetize their content through “Write to Earn” or “Create to Earn”, just like predecessors “Play to Earn”.

One of the biggest and unique features of the Pravica Club is the “eternal message”. Users in Pravica Clubs or in Pravica messenger will be able to extract a text of 1024 characters and mint it as an eternal message. The eternal message takes the form of an NFT. The ramifications are huge, Eternal messages can be used to save and engrave personal moments, like the first time someone said “I love you” or even business agreements or historical statements.

Mohamed Abdou, Founder and CEO of Pravica, explains, “We are empowering the Web 3 creator economy. This is especially relevant in the era of the Metaverse where individuals will need decentralized identities, secure communications and P2P financial transactions. DcFi, presented as Pravica Club, is the gateway towards a truly Web 3.0 creators economy.”