(Source: Quicknode Blog)
Being one of the most significant raises in 2023 so far, Quicknode is a blockchain development platform that has just raised $60 million in its Series B fundraising round, putting Quicknode at a valuation of $800 million. The fundraising round was led by 10T Fund, with additional participation from Tiger Global Management, Protocol Labs, QED Investors, and Seven Seven Six.
For more information on Quicknode, the platform provides endless APIs and frameworks required for developers to build out their very own blockchains and decentralized applications, with the ability to access over 16 networks. Even during the height of the bear market, with several companies going under in 2022, Quicknode still managed to have record quarters in Q3 and Q4, tripling their revenue in 2022. Additionally, Quicknode owns the popular NFT data tool icy.tools, grew their user base by 400% in 2022, and provided support for billions of new API requests each month with the addition of six new chains. This allowed Quicknode to have no problem raising a significant amount in their recent fundraising round.
The new fundraising round will allow Quicknode to grow their team of developers, which will in turn aid in pushing out more tools and APIs and allow them to expand their operations into Asia and Australia. There is a potential for a governance token to be created as well; however, it seems like Quicknode aims to be an IPO company as a priority.
With data provided by electric Capital, there are about 23,000 blockchain developers creating 471,000 monthly code commits on a monthly basis, 9,000 crypto ecosystems, and 163,000 repositories. There has been about a 300% increase in the amount of developer activity since 2018, meaning that the number of builders is certainly growing every day. In order to accompany this growth, some of the best platforms out there will be those who are able to provide the tools, data, framework, and power needed to build out projects. Why do platforms such as Quicknode perform well even in a bear market? It is because developers will continue to build whether they are in a bull or bear market. There will always be developer activity; thus, the platforms that provide the resources become the guys selling shovels in a gold mine.
(Source: Cité Gestion )
Cité Gestion is a private bank based in Switzerland with 7 billion Swiss francs in assets under management. The bank specializes in wealth management, portfolio management, financial planning, and global custody. The private bank has just launched their initiative into blockchain technology by becoming the first private bank in the world to tokenize their own shares.
By partnering with Taurus, a digital asset firm that holds a securities license from the Swiss Financial Market Supervisory Authority, Cité Gestion will be building out their tokenized securities using CMTAT, which will allow their assets to be tokenized on the Ethereum blockchain.
Cité Gestion is also following the CMTA standards, which are the rules and regulations behind tokenizing equity and debt markets and securities under Swiss law, with risk management in mind when dealing with tokenized securities.
Christopher Utelli, the Deputy CEO and Member of the Executive Committee for Cité Gestion, states,
Cité Gestion is definitely on top of innovation for being quick to adapt and utilize regulations under Swiss law to offer tokenized securities. Switzerland has always been known for being a popular place to have banks as there is a high level of privacy associated with the banks in the country, hence why people have also referred to crypto as having a Swiss bank in your pocket. With lax regulations on being able to tokenize securities, it does seem like the tokenization of securities is becoming a very popular standard across institutions and parties across Switzerland, rather than the tokenization of assets such as stocks, which will have to be something that comes later in this decade.
Tokenization of securities was always thought to be the thing to end banks; however, it seems like the outcome was that banks and institutions would actually embrace them and utilize them in their businesses.
Why would banks want to tokenize their assets?
Well, there are many benefits to utilizing blockchain technology when dealing with any kind of asset, as evident by the crypto world that we have now. Some of the most known benefits that have caused many institutions to explore tokenizations are the benefits of preventing data breaches, having access to instant real-time settlement times, building out new markets that can reach a wider audience, and being able to improve the liquidity of illiquid assets such as real estate. A large reason why many institutions are tokenizing their assets is also because they genuinely need to in order to not fall behind in this world of technological advancement. If one party fails to embrace a new technology, their competitors will, and they will get past them. It could be a marketing stunt, or it could be genuine. The fact of the matter is, institutions need to embrace digital assets as something that is here to stay and will become the new standard for banking; thus, a wide majority of institutions are tokenizing their assets and securities.
(Source: Porsche NFT)
Recap of Porsche NFTs:
On November 29, “Porsche announced their official initiative into Web3 with their new NFT collection consisting of 7,500 NFTs based on the classic Porsche 911 sports car which will launch in January 2023. In creative partnership with Hamburg designer Patrick Vogel, the NFTs will have a special feature called ‘route’ for their NFT in which holders will be able to help design their own NFTs. In addition to being able to shape their own NFTs with the help of Unreal Engine 5, owners of these NFTs will also have exclusive access to virtual and real-life events hosted by Porsche. Porsche is not only working with NFTs as a new form of representation in a virtual setting, but Porsche will also be utilizing blockchain technologies into their operational processes such as their supply chain” (Nov 30 Blog Post).
Well, Porsche officially launched their NFT project yesterday, which was expected to sell out all 7,500 of their NFT collection as other luxury carmaker brands such as Lamborghini have done so. However, it seems like Porsche’s initiative into the NFT markets has not been very successful as Porsche’s NFT sales from its website could only sell 16% of their total collection in the same day that they launched. Porsche’s NFT was even selling for a lower price than its minting price on OpenSea shortly after. These are data points that only apply to Monday’s sales and the data provided by multiple media sources.
What surprised a lot of individuals about this NFT launch was that the NFT had all of the buzzy utility that would theoretically make an NFT project successful for a popular web2 brand. The virtual events, the special exclusive access, Unreal Engine 5, luxury, etc. The main significance of this entire launch, however, was a lesson to be learned for Web2 brands attempting to enter the NFT space. Porsche only listed their NFT on their own official website and developed their NFT without the help of or partnership with any established Web3 or NFT brand. Pretty much everyone in the community believes that Porsche cut corners, believing that their name alone would help them sell out their NFTs. But in this case, they tried to launch in the midst of a bear market, where there is a lot of negative sentiment around Web3 and NFTs in the Web2 world. What does that mean? Web2 folks do not care for NFTs right now. Porsche aimed their product at the wrong audience, especially with the fact that Porsche does not even have a general Discord server for its community, only for those who have already purchased the NFT. Porsche failed to advertise correctly as their only source of advertising was on Twitter, failing to adhere to the entire Web3 crowd.
As of today, 25% of the entire supply has been sold from their official website, which is not much of an improvement from yesterday. Another big factor in this slow mint is the fact that the Porsche NFTs cost 0.911 ETH. Especially at a time when Web2 people are not interested in NFTs, 0.911 ETH may be a cool number for Porsche, but it sure is too expensive for the community.
February 2, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Immutable
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Therefore, please find all the necessary information on how we may collect and process your personal data gathered in connection with your use of our Site and our Services in this Privacy Notice.
Notice: Please, read this Privacy Notice carefully and in addition to the Terms and Conditions to understand our practices regarding the information that may be considered personal. If you do not wish for your personal information to be used in the manner described herein, you should not access our Site and all subdomains thereof, utilise our Services, participate in the offering of our tokens or otherwise provide Hector Network with your information which may be considered personal.
Please ensure that any relevant individuals are made aware of this Privacy Notice prior to providing their information to us or us obtaining their information from another source. In such a case, you or they must first ensure that you or they have the authority and appropriate legal basis to do so.
We do not knowingly collect or ask for data, including personal information, from people under the age of 18. If you are such a person, please do not use our Service or send us your data. Otherwise be informed that we erase such data the moment we learn it is collected from a person under the age of 18.
The administrator of our Site, provider of the Services and thus controller of your personal information processed in connection for purposes described hereinbelow is Hector Enterprise Inc.
Registered office: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands
We will usually respond to all legitimate enquiries within 30 days. Occasionally it may take us longer if your request is particularly complex or you have made numerous requests. We will notify you and keep you updated.
‘Personal information’ is any information that, either alone or in combination with other data, enables an individual to be directly or indirectly identified (for example, name, email address, contact details, or any unique identifier such as an internet protocol address (‘IP address’), device ID or other online identifier).
We may collect the following basic personal information from you:
You can choose how Cookies are handled by your device through your browser or through our cookie banner, including refusing or deleting all Cookies. If you choose to receive no Cookies at any time, websites may not function properly and certain services may not be provided. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and Cookie preferences.
We may receive information about you from other sources, including third parties that can lawfully share the information with us and help us update, expand, and analyse our records, prevent or detect fraud or other suspicious activities and process payments. In addition, our Site may also include integrated content or links to content provided by third parties (such as live chat, social media content, plug-ins and applications).
Please be informed that we do not process special categories of personal data (such biometric data, data concerning health, racial or ethnic origin, political opinions, etc.).
We do not use either automated decision-making or profiling in terms of your personal information you provide to us.
We may use the information gathered primarily for the following purposes:
We may also use the information we collect:
We retain the information we collect for no longer than is reasonably necessary to fulfil the above purposes and to comply with our legal obligations.
Your personal information as described above is processed by us on a basis of the following legal grounds:
Taking steps prior to entering into a contract and necessity for performance of a contract with you – We may need to collect and use your personal information in order to enter into a contract with you or to perform a contract that you have with us, for example, when you provide personal information to us in order to purchase our tokens, if necessary for such purchase.
In such a case, the provision of your data is necessary in order to enter into a contract and also a contractual requirement as without such data we are not able to enter into a contract with you.
Compliance with legal obligations – We may process your personal information as may be required by respective legal or regulatory obligations that may apply to us.
In this case, the provision of your data is a statutory requirement without which we are not able to comply with our legal obligations.
Our legitimate interests – We may use your personal information for our legitimate interests to improve our Services, thus maintain and develop our business activities as well as to protect and enforce our or third party’s rights, if necessary.
Please be informed that you have the right at any time to object to the processing of your personal information which is based on our or third party’s legitimate interest.
Your consent – We send to you direct marketing e-mails upon your previous consent. Each such e-mail also contains a link that allows you to opt-out from receiving such e-mails, update your contact information or change your preferences at any time.
To withdraw any consent to processing your personal information, please use our electronic form or by clicking on a link provided in every e-mail sent to you to unsubscribe from such marketing electronic communication.
We may disclose information:
Important note: We do not sell, rent, or otherwise share personal information that reasonably identifies you or your organisation with unaffiliated entities for their independent use except as expressly described in this Privacy Notice or with your prior separate consent. We may share information that does not reasonably identify you or your organisation as permitted by applicable law.
When you voluntarily make your personal information available online in our environment shared by third parties (for example, on messaging applications, social media, message boards, web logs, or emails), that personal information may be viewed, saved, collected, heard, used and/or shared by third parties outside of Hector Network. We are not responsible for any unauthorised third party using such information. Please be mindful whenever you share any information in such environments.
Our Site may include integrated content or links to third parties’ content (for example, social media content, plug-ins and applications, video materials, etc.) which are governed by the third parties’ privacy settings and policies, which may differ from this Privacy Notice. This Privacy Notice does not address, and we are not responsible for or able to control, the privacy, security, or other practices of such third parties.
We deploy organisational, technical and physical safeguards designed to protect the information that we collect. This includes, when required or appropriate and feasible, obtaining written assurances from third parties that may access your personal information that they will protect the information with safeguards designed to provide a level of protection equivalent to that adopted by Hector Network.
We may store the information we collect on our servers both cloud-based or in servers located in countries where we or our service providers have facilities. Therefore, we may transfer information to countries outside of your country of residence which may include countries outside the EU member states.
Please note that if you are the EU citizen and provide us with your personal information, it may then be transferred for the purposes stated herein to third countries outside the EU/EEA under conditions set in this Privacy Notice and you consent to this by using our Site or Services.
You have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Therefore, the marketing e-mails we send to you include the opt-out link for you to unsubscribe from receiving such communication (as well as update your contact information). We will honour your choice and without delay refrain from sending you such e-mails.
Under local law, you may have certain rights regarding processing of your personal information, in particular, you have the right to request: (i) access to your personal information, (ii) rectification or erasure of your personal information, (iii) restriction of processing concerning you, (iv) objection to processing that is based upon our legitimate interests (as already stated above), and (v) data portability to other service providers.
We are committed to working with you to obtain a fair resolution of any complaint or concern about your privacy. If, however, you believe that we have not been able to assist with your complaint or concern, you may have the right to lodge a complaint with a respective supervisory data protection authority, as applicable, in your jurisdiction.
If you would like to contact us, please use the methods stated above.
Your ability to exercise these rights will depend on a number of factors and, in some instances, we will not be able to comply with your request, for example because we have legitimate grounds for not doing so or where the right doesn’t apply to the particular information we hold on you. Where so entitled to access to your personal information, you will not have to pay a fee unless your request is clearly unfounded, repetitive or excessive (upon which we may charge a reasonable fee or refuse to comply with your request). If you would like to discuss or exercise the rights you may have, you can contact us through the methods stated above.
Please keep us informed if your personal information changes whilst we continue to retain such information. We encourage you to contact us to update or correct your information if it changes or if you believe that any information that we have collected about you is inaccurate or out of date.
We may update this Privacy Notice from time to time and we encourage you to periodically review this Privacy Notice. If we make any material changes to this Privacy Notice regarding the way we collect, use, and/or share the personal information that you have provided, we will notify you by posting notice of the changes on the Site or, if we hold your email address, by email.
The use of certain of our Services may also be governed by other applicable terms and policies regarding privacy and the sharing of personal information, which supplement, and should be reviewed alongside, this Privacy Notice.
Unless otherwise defined in this Privacy Notice, terms used have the same meaning as in the Terms and Conditions.
Effective Date: 10 May 2022
This disclaimer (the “Disclaimer”) explains the terms and conditions governing your access to the https://hector.network/ website (the “Site”) and/or our services as described on the Site (the “Services”; unless the context provides otherwise, the Services shall be deemed to include the Site). This Disclaimer, together with the Terms and Conditions (the “Terms”), forms a binding legal agreement between you and Hector Enterprise Inc., with its registered office at Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (“Hector Network” or “we” or “our” and its derivatives).
You must read this Disclaimer carefully. By accessing the Site and/or using the Services, you signify that you have read, understand and agree to be bound by this Disclaimer in its entirety and understand the risks related to the Services and crypto-assets in general. You agree to comply with this Disclaimer even if our methods to prevent the use of the Services are not effective or can be bypassed. If you do not agree with anything in this Disclaimer, you may not use the Services. We may implement controls to restrict access to the Services from any jurisdiction or persons prohibited pursuant to this Disclaimer.
You agree to indemnify and hold Hector Network harmless from any losses, costs, liabilities and expenses (including legal fees) relating to or arising out of: (a) your use of, or inability to use, the Services; (b) your violation of this Disclaimer or the Terms; (c) your violation of any rights of another party, including but not limited to any other users of the Services; or (d) your violation of any applicable laws.
Hector Network may, at its own discretion, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall fully cooperate with Hector Network in asserting any available defenses. This provision does not require you to indemnify Hector Network for any fraud, gross negligence, or willful misconduct of Hector Network.
You confirm that you fully understand that (i) our crypto products and related services are unregulated and can be highly risky; (ii) there may be no regulatory recourse for any loss from crypto-related transactions; (iii) investment in crypto-assets or similar products carries a high risk, may not be suitable for retail investors and the entire amount invested may be lost.
Hector Network is not a bank, securities firm, financial institution, financial services provider or provider of similar services and does not provide investment, tax or financial advice, financial services or consulting services to users of the Services. We are solely the provider of the Services. Your logged digital assets are not covered by insurance against losses or subject to any deposit insurance schemes or protections.
You understand that you are solely responsible for any tax reporting and payment, levies or similar duties applying to you in relation to your use of the Services (including but not limited to your purchase and/or sale of any digital assets) and you agree to hold us harmless and indemnify us for any tax-related obligations applicable to you in relation to your use of the Services.
You may not use the Services if you are located in, or are a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or where your use of the Services would amount to any violation of any applicable law either by you or by Hector Network, which is your obligation to check before using the Services, including but not limited to:
any jurisdiction for which the Services, or any offer or solicitation in respect of the Services, would require registration or licensing or otherwise would be unlawful.
The Services are also not available to any person who is the subject of economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control (OFAC) or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom; or (c) any other relevant sanctions authority (“Sanctions”) or is organized or resident in a country or territory that is the subject of country-wide or territory-wide Sanctions.
The information on this page and all other pages owned, operated by, or related to Hector are for educational purposes only and do not constitute any sort of advice. Cryptocurrencies, NFTs and other blockchain offerings are unregulated assets and users should do extensive research into how they work, the potential risks and the tax liability of owning them in their native regions. Users should carefully read all the documents above before accepting.