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Telos Neutralizes its Past and Present Carbon Footprint - Net Zero

Telos Foundation

Telos Blockchain (ticker: TLOS) is thrilled to announce to the billion plus global citizens that proudly celebrate and embrace Earth Day that they now have a carbon-neutral smart contract option. Telos with the consulting aid of Plannet Zero, part of RedShaw Advisors Ltd, a leading carbon risk management and procurement firm, have committed to purchasing sequestration projects that will negate the emissions of the blockchain’s entire history. The offsetting is being performed in the form of biochar, which sequesters carbon (removes it from the atmosphere permanently), versus buying emission avoidance credits. Going Net Zero is the sweet spot that the Telos core developers have been striving to tap into for some time now. Up until now Telos’ energy consumption has been scaled down via decarbonization to bring the energy consumption down to less than 0.000002 kWh per transaction. This was monumental when compared to Bitcoins’ 2,258.49 kWh per transaction, Ethereum’s 238.22 kWh per transaction or even Visa’s ~0.00148 kWh per transaction where Telos is still a massive ~740x less. This was a great stride, and the team is very proud of this achievement, but it was still short of the goal of becoming environmentally invisible. Plannet Zero worked with Telos to calculate their carbon footprint by conducting an analysis to quantify the Telos blockchain’s energy consumption over the life of the chain. This analysis dated back to the first block ever generated, late 2018. Now, Telos is continuing to work closely with Plannet Zero to validate Telos’ emissions profile and carbon reduction purchases. Telos has also already allocated the funds needed to continue sequestering the equivalent release of carbon by the blockchain into the future. The commitment made was to first neutralize the carbon footprint of the past and then to continue neutralizing the carbon footprint as needed. As a result, Telos will now be a Net Zero Layer 1 blockchain that is still ludicrously fast, inexpensive, not congested, credibly neutral, decentralized, easy to deploy on and free of any front running / MEV. “dApps now running on the tEVM will be running carbon neutral smart contracts by default. The same neutrality umbrellas over all the end users minting and trading NFTs or coins on the Telos Blockchain. There is something bigger than all of us to be said about this achievement!” AJ Dinger, Telos Head of Business Development In addition to offsetting the blockchain’s carbon footprint, Telos in conjunction with Plannet Zero, is in the final stages of meeting all carbon neutral requirements for Scope 1, Scope 2 and operational scope 3 emissions for every aspect of Telos, including Telos Foundation and Telos Core Development staff. The carbon offset will be all encompassing and will be in full compliance with BSI PAS 2060 and will be verified by BSI. About Telos Live since 2018, Telos Blockchain (ticker: Tlos) is a third-generation smart contract platform that offers compatibility with Solidity, Vyper and Native C++ smart contracts. Telos provides full EVM/Solidity support with fixed low-cost gas fees and no front running. Uniquely, Telos also offers a path to fee-less transactions via its robust native C++ smart contract support. Even while operating as a Net Zero Blockchain, the chain still sustainably support hundreds of millions of transactions per day, produces blocks in 0.5 second intervals (on a first-in-first-out basis, eliminating front running on the network) and securely validates transactions via a credibly neutral and globally decentralized block producer network. The Telos Blockchain has the throughput needed to facilitate and scale the thriving Metaverse / Web 3.0 better than any other blockchain. Its performance is unrivaled in the industry and was purpose-built to offer speed, scalability, cost-effectiveness, credible decentralization, and end-user fairness. Telos, harnesses its power by utilizing tight C++ on the frontend and a custom WASM runtime environment on the backend. About The Foundation The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications. Contact Details The Team hello@telosfoundation.io Company Website https://www.telos.net/

April 22, 2022 09:07 AM Eastern Daylight Time

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tvScientific Raises $20 Million Series A Funding to Drive Performance Advertising for Connected TV

tvScientific

tvScientific ( tvscientific.com ), the most sophisticated performance advertising platform built for the connected TV (CTV), announced today it has raised $20 million in Series A funding to expand on its mission to make TV advertising a massive growth driver for brands and apps of all sizes. The round was led by Norwest Venture Partners, with participation from strategic partners NBCUniversal and Hearst Ventures. “Advertisers have always coveted the reach and engagement of television, but the medium’s immeasurability has made it inaccessible to all but the biggest brands,” said Jason Fairchild, co-founder and CEO of tvScientific. “We’ve unlocked the awesome power of television for all types of advertisers by simplifying and automating CTV buying and optimization while leveraging massive data to prove the value of TV advertising.” Built specifically for performance marketers, tvScientific is the first company to offer ad buying, measurement, and optimization for CTV advertising all in one platform. The tvScientific platform connects with 95% of AVOD streaming apps through direct deals allowing advertisers to successfully scale their campaigns. The platform leverages proprietary attribution technology that enables advertisers to match ad exposure to site visitations and other desired outcomes with a 1:1 deterministic ID match, giving advertisers 100% accuracy and transparency they value. The end result are highly targeted ads that can be optimized through tvScientific's proprietary automatic optimization technology to help advertisers achieve their user acquisition goals, all while giving advertisers radical transparency and complete control over their data, including access to log-level events. Television has been one of the most prominent advertising channels since the 1940s and ‘50s, but most performance-based advertisers eschew the channel in favor of digital media and other, more quantifiable channels. In the rise of CTV, which currently penetrates 94 million U.S. households, and its inherent measurement capabilities, performance advertisers face new opportunities. eMarketer predicts that CTV ad spend in the U.S. will reach $29.5 billion by 2024 — more than 40% of total TV ad spend today. “The reality is that the $72 billion U.S. television advertising market is dominated by fewer than 500 national advertisers,” said Jeff Crowe, managing partner, Norwest Venture Partners. “CTV opens the door for many new advertisers to pursue performance advertising in an effective and cost-efficient way. tvScientific has practically eliminated the friction in CTV advertising and made it far easier for businesses of all sizes to buy CTV inventory with the control, measurement and accountability they’re accustomed to getting from search and social channels.” Since launching its platform in April of 2021, tvScientific has experienced rapid growth. tvScientific offers fully managed services and also makes its technology available as a self-serve platform so marketers can bring their performance TV buying in-house at any time. The funding brought tvScientific’s total amount raised to $23 million, including a $3 million seed round from IdealabX, AperiamVentures, and angel investors from companies such as Yahoo!, Kabam, Integral Ad Science, GoFundMe and others. The company was founded by senior executives with deep roots in digital media, programmatic advertising, and ad verification, including Bill Gross, founder of GoTo.com; Jason Fairchild, co-founder of OpenX; Kent Wakeford, former COO of Kabam and co-founder of Integral Ad Science; and David Koye, former chief digital officer of SummitMedia. The company will use the new funding to grow its customer base, hire for key roles in engineering, product, data science, marketing, sales and other departments, and continue innovating the product in support of the company’s mission of making TV accessible, measurable and performant for all businesses. About tvScientific tvScientific is the most sophisticated performance advertising platform built for connected TV. The tvScientific platform makes TV advertising accessible and measurable for brands and apps of all sizes. tvScientific offers a self-managed solution custom built for performance marketers, that simplifies and automates TV buying and optimization, leveraging massive data to prove the actual value of TV advertising. The platform reaches 95% of AVOD inventory using proprietary, deterministic ID technology to measure ad exposure to outcome in an approachable, radically transparent and scalable way. An Idealab company, tvScientific was co-founded by senior executives with deep roots in programmatic advertising, digital media, and ad verification. The company is headquartered in Pasadena, California. For more information, visit https://www.tvscientific.com. Contact Details Kite Hill PR Ernestine Belgrave +1 917-689-8488 ernestine@kitehillpr.com

April 21, 2022 09:00 AM Eastern Daylight Time

bemyfriends Announces Global Launch of Bespoke Platform Builder b.stage, a New Software Service for Creators and Iconic Brands to Build, Own and Operate Their Own Platform

bemyfriends

SEOUL, SOUTH KOREA - Media OutReach - 21 April 2022 - Today, global fandom business builder bemyfriends announced the global launch of b.stage, a bespoke platform builder created to unleash the power of fandom and boost the creator economy. The new software-as-a-service (SaaS) solution empowers creators and iconic brands to build and operate their own platform, taking the hassle out of creating while making the process more rewarding. b.stage offers all the tools and services creators need to form deeper connections with their fans, and helps them turn their creations into a sustainable business with simple transactions. By easily building their own platform through b.stage, creators and iconic brands can give fans content they cannot get anywhere else. Creators can transform their content into a lucrative business by selling it however they wish – individually, through a subscription, and on a limited or full-time basis. Supporting memberships, digital rewards, e-commerce and more, the solution offers ways to connect with fans that go far beyond likes. It also connects creators with an ecosystem of powerful business partners – known as “b.stage enablers” – offering elite business operations to help grow their business. This allows creators to focus on what they love to do, helping them reach new heights of creativity. “With b.stage, creators can finally feel the true sense of freedom that comes with owning your own platform,” said Steve Seo, co-CEO of bemyfriends. “Now, instead of bouncing from one platform to another to manage their fanbase, creators can build a home for their content and fans that adds value to their business. Our bespoke platform builder combines our years of experience leading the K-pop fandom industry with technologies that make it easier for creators to reach their potential.” Placing everything from management tools to monetization and data analysis all in one place, b.stage opens up entirely new ways to connect with fans. Creators can give their fans a glimpse into their lives by posting thoughts, ideas and funny memories, while fans can connect with one another through comments, photos and more. From the moment a creator builds their platform, anything they share becomes their property. Everything they create, including their data, is directly downloadable, and remains their property even if they decide to leave. Creators also have complete control over how their platform is monetized. Solutions covering everything from one-time payments to donation buttons and subscriptions are embedded in users’ platforms for seamless setup, while a bemyfriends experienced team member can assist with any and all transactions. The signup process is quick and straightforward, and the ability to choose exactly what information members are asked to provide helps creators better understand their fans. Beginning in the second quarter of 2022, b.stage’s easy-to-read dashboard will offer creators everything they need to manage their e-commerce operations, including global shipping, stock management, payments and more. Creators will receive easy-to-digest data about their fans’ journeys, interests and behaviors. From K-pop to global brands, the bemyfriends leadership team is built on years of experience in the fandom industry. It all started with Weverse Company, the first company of its kind to introduce fandom technology to global entertainment. Those same fandom gurus then set their sights even higher, developing a home for creators and iconic brands that supports them on an even larger scale. Using the same proven K-pop fandom mechanisms that helped boost the profile of talents like BTS, bemyfriends offers users the best technology, a peerless partnership ecosystem, and access to the communities that make the creator economy a better place for all. With multiple options available, b.stage makes it easy to select the perfect plan to suit your needs. The solution can be scaled up or down to enable everyone from individual creators to iconic brands to grow their fanbase and make money from their content. b.stage is already being used by notable celebrities and opinion leaders, as well as esports powerhouses like T1. The platforms these brands and creators developed will help unleash the power of their fandom and take their content and business to the next level. bemyfriends was founded in January of 2021 and has raised more than $10 million in funding since its inception. Check out this brand film to learn more about how bemyfriends is making creating more rewarding. About bemyfriends Founded in 2021 by global fandom gurus from the Weverse Company, bemyfriends develops products and services that help creators, artists and iconic brands build strong, lasting businesses and happy fans. Our b.stage solution allows you to build your own bespoke platform, creating a place for your content and fans to call home and helping you foster creativity and grow your reach. From digital content sharing, rewards, membership and data analysis to cross border e-commerce, shipments and global payments, we take advantage of the latest technology to make finding and building your fan community simple. Check out the latest b.stage branded videos to learn more about innovations that are optimized for the fandom industry. For more information on bemyfriends, please visit www.bemyfriends.com. #bemyfriends Contact Details Jennie jennie@bemyfriends.com

April 21, 2022 09:00 AM Eastern Daylight Time

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CleverTap Appoints Anand Venkatraman as Chief Operating Officer

CleverTap

CleverTap, the world’s leading retention cloud, announced the appointment of Anand Venkatraman as the Chief Operating Officer. Anand has over two decades of experience in building and scaling global teams and P&Ls across various sales motions. He joins from Freshworks where he led the fast-growing Asia Pacific and Middle East and Africa business. He also played a key role in driving global partnerships to independently grow the business across 40+ countries, scaling the technology marketplace and embedded Freshworks deep into the worldwide startup ecosystem. Prior to that he held leadership positions at Akamai and Microsoft in APJ and India. “I warmly welcome Anand to CleverTap. His appointment underlines our ambitious growth plans to be the gamechanger for user retention. He has a successful track record in taking businesses global, building highly engaged teams, and establishing creative approaches for customer success. Anand will strengthen the CleverTap management team to help scale the company to the next level by bringing in excellence in execution,” said Sidharth Malik, CEO CleverTap Inc. “I am excited to join CleverTap as they emerge as the retention category market leader, in not just India and South-East Asia but also in markets like North America, Latin America, Middle East, Turkey, Africa and Europe. I am looking forward to being a part of CleverTap's journey in taking the Indian SaaS story to the world,” said Anand Venkatraman. About CleverTap CleverTap is the modern, integrated retention cloud that empowers digital consumer brands to increase customer retention and lifetime value. For brands that understand and value user retention, CleverTap drives context and individualization with the help of a unified and deep data layer, AI/ML powered insights and automation. Customers around the world representing over 10,000 apps, including Vodafone Idea, SonyLIV, Daimler, Gojek, Carousell, and Premier League, trust CleverTap to achieve their retention and engagement goals, growing their long term revenue. Backed by leading venture capital firms including Sequoia India, Tiger Global Management, and Accel, the company is headquartered in Mountain View, California, with offices in Mumbai, Singapore, and Dubai. For more information, visit clevertap.com or follow on LinkedIn, Twitter, Facebook and YouTube. Contact Details Sony Shetty sony@clevertap.com Company Website https://clevertap.com/

April 21, 2022 04:30 AM Eastern Daylight Time

Play Globally Inc. and The US Gambler Agree to Strategic Partnership

Play Globally

Play Globally, Inc., a worldwide provider of free-to-play gaming innovations, today announced a partnership with The US Gambler (USG www.theusgambler.com ), a premier destination for premium sports content, betting picks and excellent bonus offers from leading sportsbooks and online casinos. The partnership serves as a creative avenue to support growth for both parties in the increasingly competitive US iGaming market, through cross-selling one fully aligned demographic between free-to-play gaming and sports betting content and insights. Play Globally’s upcoming release of its LuckyFans line of free-to-play games drives live, in-play sports action to determine the outcome of a fast-paced poker game. LuckyFans adds affiliate revenue and drives new high-value sports bettors to USG and its partners. Additionally, USG users will be able to create their own LuckyFans Private Leagues to earn exclusive rewards, win high-value prizes and participate in the LuckyFans National Sweepstakes to win substantial prize money. “The ability to work in tandem with an affiliate partner that has grown 300% MoM since its inception and whose audience is growing in both existing and emerging sports betting markets is a major step for our growth plans across the US,” said Play Globally President/CEO Stephen Dunham. “This partnership underscores the massive growth potential LuckyFans, and free-to-play gaming in general, offers the entire sports betting and iGaming industry. It’s exciting to see a brand like The US Gambler fully appreciate the value of what sophisticated contextual fan engagement through our LuckyFans platform provides.” About Play Globally, Inc. Play Globally, Inc. is a developer of innovative free-to-play games that utilize live, real-time in-play sports and racing data to determine the results of a live poker game. The company’s LuckyFans product line is scheduled for release in 2022 for a variety of professional sports and racing contests, providing users the opportunity to win real money sweepstakes prizes. LuckyFans is legal in all 50 states and most jurisdictions around the world. About The US Gambler The US Gambler is a site owned and operated by The Sportsbook Insider Inc (TSI); a Boston based organization newly formed in 2022. TheUSGambler.com is their first domain to go live offering premium sports content, betting picks and excellent bonus offers from leading sportsbooks and online casinos. Contact Details Alex shapiro +1 732-770-9395 ashapiro@hotpaperlantern.com Company Website https://www.playglobally.com/

April 19, 2022 01:30 PM Eastern Daylight Time

U.S. Integrity Receives Strategic Investment from Las Vegas Sands

U.S. Integrity

U.S. Integrity, a technology and data-driven analytics company that monitors for match-fixing, game manipulation, and other unethical or illegal sports betting-related activity for the largest professional sports leagues and collegiate properties in the U.S., as well as licensed sports-betting operators and regulators, announced it has received an investment from Las Vegas Sands, the world’s leading developer and operator of integrated resorts. The investment will enable U.S. Integrity to continue developing a unique regulatory technology platform to service the needs of key stakeholders across the online gaming and sports betting industry. The platform is designed to identify potentially problematic bets closer to real time to ensure the integrity of sports globally. U.S. Integrity will provide their next generation platform to teams, leagues, bookmakers and regulators to enable proactive intervention. “U.S. Integrity’s mission is to help grow the legal, regulated sports betting market by providing solutions that ensure sports betting integrity in every play, every game, and every sport,” said Matthew Holt, U.S. Integrity’s Chief Executive Officer. “The strategic investment from Sands will help us expand our capabilities and develop new innovative products and services to bring transparency and peace of mind to our growing list of clients.” U.S. Integrity provides customizable dashboards that highlight anomalies and potentially suspicious wagering activity to professional sports properties as well as sportsbook operators and gaming regulators. The terms of the investment were not disclosed. For more information please visit USIntegrity.com. About U.S. Integrity U.S. Integrity is a leading technology-driven sports wagering monitoring company, providing the highest level of protection against betting-related fraud and corruption. Supported by investors including SeventySix Capital and the New York Angels, U.S. Integrity’s mission is to grow the legal, regulated sports betting market by providing solutions that ensure sports betting integrity in every play, every game, every sport. U.S. Integrity partners with a number of the largest professional sports leagues and collegiate conferences in the U.S., as well as licensed sports-betting operators and regulators. U.S. Integrity is based in Las Vegas and New York. For additional information, visit www.usintegrity.com. Contact Details Scott Sadin scott.sadin@usintegrity.com Company Website https://www.usintegrity.com/

April 19, 2022 09:01 AM Eastern Daylight Time

Hamza Abo$$'s “Im Not Perfect” Is A Meritorious Long-Playing Record

Hamza Abo$$

"Im Not Perfect" speaks to a multitude of primordial human struggles. Perhaps this is the reason "Im Not Perfect" has become so popular. An unhurried storyteller, Hamza Abo$$ combines old school hip-hop with a contemporary sense of narration. Tracks from the album follow a monologue-like exploration of thematically pertinent topics, which are developed even further by a ubiquitous sense of poetic diction and rhythm. Hamza Abo$$'s work is an unprecedented mixture of scintillating wit and ruminative humor that is comparable to legends like Biggie Smalls and Jay-Z. The juxtaposition of those elements results in something that projects both substance and elegance. Authenticity, truth, and artistic beauty resides not only in Hamza Abo$$'s latest project, but in his overall artistry as well. "Im Not Perfect" takes you on a musical trip across both the familiar and the truly unfamiliar. From the chilling and nostalgic sonic effects of modern day R&B to the exciting and vibrant colors of old-school hardcore rap. Catering to those ceaselessly moving in the pursuit of emotionally heartfelt and self-analytical writing, this project unveils a wide variety of euphoric and unexpectedly thought-provoking records. Not quite rapping and not quite singing, his is a deliberate pacing that draws its strength from elaborate introspections. Contrary to his West Coast upbringing, the album remains faithful to the audacious stylings of East Coast hip hop. The compositional balance and the way the songs were woven together grants this project an undeniable timelessness. The Seattle native offers a versatile selection of brilliant music that is packed with both quality melodies and excellent wordplay. Every song on this project exudes substance, talent, and overall brilliance. "Im Not Perfect" by Hamza Abo$$ is now available on all major streaming platforms, including Spotify, YouTube, and Soundcloud. Be sure to check out this brilliant and criminally-underrated artist. About Hamza Abo$$ Hamza Abaas (born September 7, 1999), better known by his stage name Hamza Abo$$, is an American rapper from Seattle, Washington. As a rising talent, the artist offers a versatile selection of brilliant music that is packed with both quality melodies and excellent wordplay. https://www.youtube.com/watch?v=dUVsr9L-l9s Contact Details Hamza Abo$$ Seattle, USA Hamza.abaas10@gmail.com

April 18, 2022 09:17 AM Pacific Daylight Time

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SC Johnson and 4th Family Team Up to Empower Youth in Underserved Communities by Leveraging the Power of STEM and Sports

SC Johnson

SC Johnson, the maker of household consumer brands including Windex ®, OFF! ® and method ®, today announced a partnership with 4th Family, a not-for-profit organization dedicated to empowering youth in underserved communities by combining the relevance of sports with STEM (science, technology, engineering and math) learning. The partnership will create the “STEM & Sport Team Up,” a learning program that features the science behind the sports children love to play. The program will reach 4,000 middle school-aged children in Chicago, Illinois and Racine, Wisconsin, the location of SC Johnson’s global headquarters. “SC Johnson’s efforts to increase access to education in underserved communities align perfectly with 4th Family’s innovative approach to STEM learning,” said Alan VanderMolen, Chief Communications Officer at SC Johnson. “We are excited to introduce STEM to children in Chicago and Racine in a relevant, engaging way that leads to greater diversity and inclusion in STEM.” Co-founded by John Scottand Jahkeen Hoke in Albany, New York, 4th Family was established as a response to a clear education and employment gap of urban youth in the STEM disciplines. “We grew up in inner-city Albany, and without playing and identifying with sports, we may not have gotten the opportunities to continue our educations and have the careers we have today,” said Jahkeen Hoke, Co-Founder of 4th Family. “We are thrilled that through the ‘STEM & Sport Team Up’ with SC Johnson, we are bringing opportunity, long-term empowerment, and self-belief to more kids in more communities simply by making STEM as relevant and accessible as possible to the next generation, regardless of their background or current beliefs around STEM.” Added John Scott, Co-Founder of 4th Family, “To have our first national partner be SC Johnson, a company with a decades-long commitment to increasing representation in STEM, it feels like the stars aligning.” Each participating school will experience a three-phased program that begins with a large assembly event called “The Science of Slam” showcasing basketball dunks and the science involved with how to dunk. The second phase is a day-long clinic for 100-150 interested children followed by a three-day camp where they will learn via in-depth, interactive programming. Events in Racine begin May 2, with Chicago programming to follow the second week in May. Clinics and camps will take place in June and July, respectively. 4th Family’s STEM Team is led by Dr. John Drazan and Dr. Amy Loya, whose research with 4th Family has been recognized by the MIT Sports Analytics Conference, as well as the American Association for the Advancement of Science. Both Dr. Drazan and Dr. Loya are former college basketball players with PhDs in Biomedical Engineering. Dr. Drazan is currently an Assistant Professor in the Electrical and Biomedical Engineering Department at Fairfield University in Connecticut, and Dr. Loya is a Visiting Assistant Professor in the Electrical, Computer and Biomedical Engineering Department at Union College in New York. “As sports were my pathway into a career in science, I know that for many kids, they don’t necessarily see themselves in STEM. So it’s important to go beyond the traditional things kids associate with STEM like male scientists in white lab coats,” said Dr. Drazan. “Our work shows that the fusion of youth sports programs with sports analytics is an excellent opportunity to serve as an introduction to STEM and to broaden the appeal of STEM among youth in underserved communities.” About SC Johnson Founded in 1886 and headquartered in Racine, Wisconsin USA, SC Johnson believes that a more sustainable, healthier and transparent world that inspires people and creates opportunities isn't just possible – it's our responsibility. A heritage of innovation and bold, transparent decisions is why our high-quality products and iconic brands – including OFF! ® Raid ®, Glade ®, Windex ®, Scrubbing Bubbles ®, Ziploc ®, Mrs. Meyer’s Clean Day ®, method ®, Autan ®, Baygon ®, Mr Muscle ®, Duck ®, Lysoform ® and more – are in homes, schools and businesses in virtually every country worldwide. Since 1937, SC Johnson has annually given 5% of all pretax profits to charity. Over the last decade, SC Johnson has invested more than $300 million into families, communities, and the planet worldwide. Today, our community efforts focus on building a more sustainable world, a healthier world, and a world with more opportunity. About 4th Family 4th Family is a not-for-profit organization that hosts teen/community events, mentoring programs, personal development programs, educational programming, wellness & health programs, annual sport leagues & tournaments, as well as educational trips. At 4th Family, we seek to empower urban youth through mentoring and leadership opportunities, especially within the STEM fields. The central thesis for our sports science and other STEM programs is that our young people have the aptitude to learn real skills for the most critical sector of our economy – technology, science and engineering. Invited, supported, and mentored to explore their own interest in and aptitude for STEM, thousands of youth have participated in 4 th Family’s award-winning programs since 2012. Contact Details SC Johnson +1 262-260-2440 GlobalPublicAffairs@scj.com Company Website https://www.scjohnson.com/

April 14, 2022 07:00 AM Eastern Daylight Time

NFT standards have a long road ahead, says Huobi Research Institute

Huobi Research Institute

The Non-Fungible Token (NFT) market appears prosperous of late. According to data from NFTGO, total traded volume for 30 days reached US$6.2 billion. However, the most commonly adopted standard for NFTs, ERC-721, contains elements that may result in unfairness towards buyers. A new report from Huobi Research Institute examines several other proposed standards and concludes that standards innovation could prompt the industry to re-invent itself. In a new report titled “ The Advanced Road for NFT Standards”, the disadvantages of the ERC-721 standard are analyzed, including the need to pay gas fees multiple times for an NFT series to be minted and how bots can be used to mint rare NFTs if certain conditions are met. While some projects seek to avoid such a situation by randomly distributing NFTs with different properties according to their tokenIDs, users remain in the dark as to whether the distribution was indeed conducted fairly, as the right to issue NFTs still lies very much in the hands of project developers. The report further examines ERC-721A, a new standard whose main selling point lies in saving gas fees by allowing for the gas cost for minting multiple NFTs to be almost equivalent to that of minting a single NFT. In ERC-721A, a holder’s address is updated only once when a batch of NFT is minted so long as two preconditions are met: 1. The user has sufficient balance to mint and 2. The NFT minted by batch is of a continuous tokenID. In addition, ERC-721A removes the redundant storage requirements associated with ERC-721. Several new standards, dubbed ERC-721R, have also been hotly debated of late, with the two most famous ones attempting to solve the unfairness issues linked to ERC-721. ERC-721R, proposed by exo-digital-labs provides for trustless refunds, while ERC-721R proposed by erc721r.org seeks to distribute NFTs to minters more fairly by pseudo-randomly assigning tokenIDs. “The value offered by setting standards lies in unifying the basic attributes of NFT products so developers can better focus on NFT content,” says Yeyan Wei, Researcher, Huobi Research Institute and author of the report. “More innovative standards will lead to the development of the entire industry, and it would do good for the NFT industry to re-invent itself.” Click here for the full report. About Huobi Research Institute Huobi Blockchain Application Research Institute (referred to as "Huobi Research Institute") was established in April 2016. It is committed to researching and exploring new developments in the global blockchain industry. Its goal is to accelerate the research and development of blockchain technology, promote its applications, and improve the global blockchain industry ecosystem. Huobi Research Institute covers industry trends, emerging technologies, innovative applications, new business models, and more. Huobi Research Institute partners with governments, enterprises, universities and other institutions to build a research platform that covers the entire blockchain industry. Its professionals provide a solid theoretical basis and analyze new trends to promote the development of the industry. Contact Details Ker Zheng +86 139 2280 3249 media@global-hgroup.com Company Website https://huobiresearch.medium.com/

April 13, 2022 02:00 PM Eastern Daylight Time

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