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Synapse Network Jumpstarts DeFi Companies Using Its Business Tech Solutions
Synapse Network will help launch new DeFi products and services in the blockchain industry. The firm is currently working on ...Read More...
Ledger Announces NFT Marketplace, Services Platform For Businesses: What You Need To Know
Cryptocurrency security and hardware company Ledger launched Ledger Market, its NFT marketplace, on Wednesday. The announcement came at the Ledger Op3n conference at NFT.NYC. The Latest From Ledger: Alongside the marketplace’s launch, Ledger also announced partnerships with the DeadFellaz, Brick/Babylon and Tag Heuer, looking to list their digital assets upon Ledger Market. With Ledger Market, the firm also announced Ledger Enterprise Create, a platform enabling the growth of Web3 projects, allowing enterprises to transition into NFTs. As reported by CoinDesk, Ledger CEO Pascal Gauthier said: “Everyone's building NFTs like they were building websites in the 2000s.” Ledger aims to take the NFT journey with creators and brands and "secure the whole stack from minting the NFT to distribution into productionm,” he said. The Products: Ledger looks to empower the Web3 community in a plethora of ways. Ledger Market empowers the creation, storage and distribution of NFTs for users. On the other hand, Ledger Enterprise Create focuses on providing scalability for Web3 companies, emphasizing how NFTs enable treasury management and digital ownership abilities. In uncertain market conditions, Ledger's latest move empowers its utility and looks to attract new Web3 customers. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
Highlights from iFX EXPO International, Cyprus – The Fintech World Came Together for Networking and New Business Opportunities
The much awaited iFX EXPO International 2022, held at the Palais des Sports, Spyros Kyprianou Athletic Center in Limassol, Cyprus ...Read More...
Building a Business Case for XR in Advertising
The advertising landscape has always been a fast-moving, and competitive space. For years, companies in every industry have been competing to grab the attention of their target audience as effectively as possible, in a landscape where consumers are becoming less interested in “traditional” marketing campaigns. XR, or Extended Reality, with its ability to immerse users […]
RT zanneslaw: Free Live event 📢 𝗧𝗵𝗶𝘀 𝗙𝗿𝗶𝗱𝗮𝘆 𝗮𝘁 𝟰𝗽𝗺 𝗘𝗦𝗧. Join @itsjake007 @ramoneLIVE and I as we cover the ins and outs of bringing your business to the metaverse, specifically on @decentraland. Tons of data, tips, and more! RSVP: [overdrive.circle.so] See you there! [twitter.com] [pbs.twimg.com]
RT zanneslaw: Free Live event 📢 𝗧𝗵𝗶𝘀 𝗙𝗿𝗶𝗱𝗮𝘆 𝗮𝘁 𝟰𝗽𝗺 𝗘𝗦𝗧. Join @itsjake007 @ramoneLIVE and I as we cover the ins and outs of bringing your business to the metaverse, specifically on @decentraland. Tons of data, tips, and more! RSVP: https://overdrive.circle.so/c/public-metaverse-talks/dcl-review-0622 See you there! https://twitter.com/zanneslaw/status/1537445575443959810/photo/1 https://pbs.twimg.com/media/FVYammZUEAANdWN.jpg:largeDecentraland•
A Business Approach To NFTs: How To Enhance Customer Engagement
By Mirwan Suvarso, the official representative of Mola. They’ve become famous for their killer price tags and meme imagery, but the truth is NFTs offer all businesses—whether crypto-based or legacy—a valuable avenue for customer engagement. NFTs offer businesses the opportunity to create digital assets that are highly individualized and customizable, which provide customers with more personalized and engaging experiences. But how can businesses go about integrating NFTs into their platforms? or even routine operations? What options do they have? Well, let's take a look at a few examples. Accelerating Customer Engagement With NFTs In the world of entertainment, video streaming services can now deliver video-on-demand on a subscription basis with increased engagement while only using NFTs. What might it look like in practice? A company can host an event with all tickets tokenized, as we did. Four hundred sixty-eight attendees enjoyed the sold-out performance of popular British rapper Central Cee—they were also NFT holders. So, from our deductions, the best way to accelerate NFT adoption for customers is through the use of intuitive platforms that offer the most straightforward route to acquiring an NFT. For instance, a customer could go about buying a digital ticket by following the simple steps of purchasing on OpenSea as displayed on the platform’s website. In short, purchase instructions should be simple. Your product—including NFT tickets—should have real value, and the price should be reasonable. If everything has been considered, your initiative is likely to succeed. Methods for Implementing NFTs in Streaming and Sports Apart from NFT ticketing, businesses can also bundle up tokens with additional perks. For example, when organizing the Central Cee event, we also provided our customers with unlockable perks with each NFT ticket, such as collectible artwork, merchandise, and full membership passes. The key here is to give customers something extra in exchange for the purchase of NFTs, which can help them become loyal fans and also drive up sales for businesses. The Growing Trend of NFTs in Entertainment and Sports As seen with the hype around artworks and collectibles, the trend of NFTs in entertainment and sports is only going to grow. With the benefits businesses can reap from integrating NFTs into their platforms, sports brands are beginning to tap into the power of digital collectibles, with over 20 football clubs in the Premier League looking to launch their own NFTs. One notable case we worked on was with the top-flight football club Como 1907, which launched its own brand collection.The team's owner held a digital auction that would grant a variety of benefits, including lifetime season tickets to all Como 1907 matches. The auction proceeds were donated to a charitable organization. Final Thoughts Overall, businesses that embrace the trend of NFTs stand to gain much from this rapidly growing technology. By tapping into its numerous benefits, companies can boost customer engagement and improve their bottom line through NFT sales. Whether you work in sports, music, or general entertainment, incorporating non-fungible tokens is a great way to provide more value to your customers while also improving your business. Whether it is through ticketing, offering unlockable perks and benefits, or even launching a collection, the options are endless. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
'Plan For The Worst So We Can Operate The Business Through Any Environment,' Coinbase CEO Announces 18% Staff Reduction
Cryptocurrency trading platform Coinbase Global (NASDAQ: COIN) announced a restructuring plan and the expectation for job cuts Tuesday morning, sending shares lower. Here are the details. What Happened: Coinbase announced a restructuring plan to help control operating expenses in response to current market conditions. The company will reduce its workforce by around 1,100 employees, or around 18% of its current global workforce. Coinbase expects to have around 5,000 total employees at the end of the current quarter, ending June 30, 2022. The restructuring efforts are expected to cost $40 million to $45 million in the second quarter related to severance and termination benefits. The costs will be realized in the second quarter. All employees who are leaving the company will receive a minimum of 14 weeks of severance pay, plus an additional two weeks for every year of employment at Coinbase beyond one year. Employees leaving will also receive access to job openings at companies in the Coinbase Ventures portfolio. Related Link: 4 Coinbase Analysts On Q1 Earnings, Stock Plummet: Projections Include Short-Term Crypto Winter, Long-Term Growth Why It’s Important: The job cuts by Coinbase come as other cryptocurrency trading platforms have announced reductions to their workforces and also as the cryptocurrency market is seeing losses and heavy outflows. “Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn,” Coinbase CEO Brian Armstrong said. Armstrong cited current economic conditions, expectations to manage costs and growing too quickly as reasons for the job cuts. “In past crypto winters, trading revenue (our largest revenue source) has declined significantly. While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.” Armstrong thanked employees in a letter and said he hopes to be able to hire everyone back in the future. “We would not be where we are today without your hard work and dedication to our mission.” Price Action: Coinbase shares are down 6% to $48.88 in premarket trading Tuesday morning. Shares closed down 11% to $52.01 on Monday. Photo: Courtesy of Marco Verch Professional Photographer on Flickr © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Crypto Businesses Lay Off Staff, Slow Down Hiring Amid Market Crash
As the market continues to bleed, many crypto businesses are actively laying off employees, while a few others are drastically slowing down their hiring. Leading crypto exchange Crypto.com and lending platform BlockFi have reportedly laid off hundreds of employees. Separately, leading businesses in the crypto sphere such as Coinbase and Meta have halted recruitment to […] The post Crypto Businesses Lay Off Staff, Slow Down Hiring Amid Market Crash appeared first on Vauld Insights.
How You Can Accept Crypto Payments As A Small Business
By Martin Desmond According to Crypto.com, global cryptocurrency usage numbers doubled within four months in the first half of 2021. As more consumers begin adopting crypto, small businesses will have no option but to rise and meet the occasion. Today, several businesses have already done so, making them well-positioned to meet the ever-increasing needs of the crypto-verse. In this article, you’ll learn how to begin accepting crypto payments in your small business. Read on for more! Accepting Crypto Payments as a Small Business A nationwide survey conducted by HSB in 2020 showed that close to 36% of all registered small businesses had begun accepting crypto payments. If your business isn’t in this bracket, it’s high time you did so to help you catch up with your competition. Of the business owners who took part in this survey, 50% said they got motivated to adopt crypto after seeing its adoption by large innovative companies and major payment processors. 35% said that they adopted crypto payments to meet customer demands. While some small businesses have chosen to adopt crypto payments to catch up with their competition, others have done so to become more efficient. The reality is that there are many benefits to using cryptos, e.g., bitcoins in small businesses. Some benefits include: Getting rid of the chargeback fees that can cut into your profits Boosting your international reach Low processing fees Faster and more secure payments Though they are cheap and fast, these payments also come with several downsides. Increased risk of cyberattacks and high volatility are the most common. However, it’s possible to minimize these risks based on how you choose to adopt crypto payments. How You Can Begin Accepting Crypto Payments as a Small Business Contrary to what you may think, it doesn’t take much to begin accepting crypto payments. Follow the steps below to get you started with this process: Step 1: Set Up a Crypto Wallet for Your Business The first step requires you to set up a cryptocurrency wallet, which you’ll rely on when sending and receiving cryptos. Opt for a multicurrency wallet, as there are chances you’ll trade with consumers using different types of crypto. Multicurrency wallets can hold different cryptos at a time, making it unnecessary for the business to operate more than one wallet at a time. Currently, the most popular cryptos in the small business community, in order of preference, are: Bitcoin Bitcoin Cash Ethereum Litecoin Binance Choose a wallet that will allow you to hold all these different cryptos at a go. Step 2: Integrate Crypto Payments to Your eCommerce Portal You should only integrate payments into your eCommerce website after you have confirmed that the wallet is operational. Small businesses that run their stores on popular platforms such as WooCommerce should consider looking for plugins to simplify integration. If you fail to find the right plugin, consider using the services offered by a crypto payment processor. These payment gateways will provide you with several ways that you can use to accept crypto payments in your eCommerce store. Depending on the gateway chosen, you may find options such as paying invoices and payment buttons. Today, leading crypto payment gateways include BitPay and CoinBase Commerce. Ensure you select a crypto gateway that: It is safe, uses a user verification process, and has a tight sign-in process It has excellent reviews and an outstanding reputation Offers low transaction rates Provides additional benefits, e.g., recurring payments, invoicing, and other accounting options Easily integrates with the platforms you need to run your business Enables you to settle crypto payments in more than one currency Allows instant conversion to FIAT money as an insulation measure against market volatility Small businesses that don’t want to integrate payments can choose to provide their customers with direct payments. All the clients will need is a QR code or your wallet address. Clients will need to enter the wallet address or scan the code to make a payment. Step 3: Cushion Your Small Business Against Crypto Risks Every small business accepting crypto payments needs to cushion itself against the many risks of trading in cryptos. Some of the measures you can use to safeguard your crypto include: Instantly converting Bitcoin and other cryptos to FIAT money: You’ll need to sign up with a payment processor such as BitPay that allows you to make instant conversions. Converting crypto to FIAT money will protect you against market volatility. Reducing your exposure to cryptocurrencies: A small business can accept crypto payments without having to deal with them directly. For example, you can request your clients to use the crypto option offered by PayPal. The payment processor will convert the crypto into US dollars once the payment gets processed. Are there Factors You Need to Consider Before You Start Accepting Crypto Payments? As with everything else linked to the eCommerce market, there are factors that you must consider before you can begin accepting crypto payments. In this case, these will include: Tax implications in terms of capital gains tax Your target audience Crypto regulation Conclusion Accepting crypto payments as a small business shows that you’re innovative and forward-looking. It will improve your brand image and make it more competitive. But before you do, use this guide to learn everything there’s to know about accepting crypto payments. This article was written by Martin Desmond of Wizer Energy. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Could Brick-And-Mortar Businesses Be Pulling A Comeback After Experiencing A Major Blow?
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Despite finding it difficult to compete with eCommerce giants such as Amazon.com Inc. (NASDAQ: AMZN) and eBay Inc. (NASDAQ: EBAY), the global in-store and brick-and-mortar industry generated an estimated $19.1 trillion in 2021, and total spending on brick-and-mortar alone is expected to reach $702.17 billion this year. This trend may mark a serious comeback for the two industries after sales plummeted in 2019 through 2020 because of the COVID-19 pandemic compounded by competition with the eCommerce sector. The growth is probably because COVID-19 movement restrictions didn’t permanently change peoples’ shopping behavior — many customers prefer physically viewing products before making a purchase as well as asking a salesperson for advice rather than interacting with a virtual assistant. Not long ago, some analysts were predicting that brick-and-mortar stores would come to a screeching halt owing to the booming eCommerce industry. Their predictions seemed to be true when one of the leading chain stores, JCPenney announced an optimised strategy that would see many of its retail stores closing in numerous locations across the U.S. between 2020 and 2021. However, this forecast has seemingly not fully materialised. While many shoppers use the internet to search for products, some prefer going to a physical store to make the actual purchase, which could be why in-store sales in the U.S. in May rose by 10% at a time when eCommerce transactions fell by 1.8%, according to a report by Mastercard SpendingPulse. The share price for a number of eCommerce retailers, including Etsy Inc. (NASDAQ: ETSY), Shopify Inc. (NYSE: SHOP) and Wayfair Inc. (NYSE: W), dropped in May. Payment Platform Innovation For Brick-And-Mortar Stores? Numerous companies are now reporting increased initiatives and products to support specifically physical retail operations. The fintech player The OLB Group Inc. (NASDAQ: OLB) could be an example — it says it is geared up to offer some of the best omnicommerce solutions as well as a financial dashboard for brick-and-mortar store merchants. The company’s financial dashboard allows merchants to accept payments, manage inventory, handle social media marketing campaigns and manage loans. In a recent letter to shareholders, the chairman and CEO for OLB Group, Ronny Yakov, says that the company aims to become the go-to destination for both online and brick-and-mortar businesses. To accomplish this goal, OLB reports it will soon be accepting all kinds of payment methods, including cryptocurrency and NFT loyalty rewards. On top of that, OLB says it will soon launch a service that will see merchant businesses lending money from the company to grow their businesses. OLB also revealed that its revenue has grown since it acquired a cannabidiol (CBD) merchant portfolio with an annual transaction volume of over $400 million last year for a total of $1.35 Billion in annual transaction volume. The company shared that its eCommerce solutions annualized revenue run rate is over $35 million and are used by 10,500 merchants in over 150 industries in all 50 states of the U.S. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.