Synthetix turns on layer-two alpha, launches Olympics betting on options platform

Decentralized derivatives and synthetic asset trading protocol, Synthetix, has launched trading on the Optimistic Ethereum layer two scaling platform. The long-awaited launch was announced by the Synthetix protocol exchange Kwenta on July 30. It enables the exchange to offer faster transactions and lower fees using optimistic rollup technology. Initially, there will be just four synthetic assets available for trading on layer two — sUSD, sETH, sBTC and sLINK. The data collected from this alpha launch and testing phase will enable the protocol to optimize synth trading on layer two and…

Cleveland Cavaliers basketball team joins fan token platform Socios

Socios, the blockchain-based platform which has tokenized many sports franchises worldwide, has partnered with the National Basketball Association’s Cleveland Cavaliers. In a Monday announcement from blockchain-based sports platform Chiliz, Socios said its logo will be prominently featured on Cavaliers’ team jerseys for the upcoming season, scheduled to begin later this year. The platform also said it was currently in the review and development phase for “fan engagement elements” for the team, purportedly referring to tokens or digital collectibles. “This is the start of an exciting partnership that we believe can…

Social NFT platform DeFine raises $5M from Asian investors

DeFine, a socially oriented nonfungible token platform, has raised $5 million in strategic investments as part of a wider effort to onboard more companies to the NFT world. The raise was led by Huobi Ventures, eSports entertainment company Abyss and global game developer PearlAbyss, the company announced Tuesday. Several Asian blockchain funds also participated, including Draper Dragon, NGC Ventures and SevenX Ventures. “It is my pleasure to have these major gaming and entertainment companies in Asia as strategic investors,” said Myoung Hoon Kang, DeFine’s global operations lead. “Strategic investment and…

Bitcoin interoperability platform Interlay raises $3M in seed funding

Interlay, a Bitcoin (BTC) interoperability project that first launched on Polkadot, has concluded a $3 million seed round to further develop its flagship decentralized finance product, marking another important capital raise in the blockchain industry.  The funding will go towards supporting Interlay’s interBTC platform, which allows users to invest, earn and pay with Bitcoin on any blockchain. Originally commissioned for Polkadot, interBTC will expand to other blockchains including Ethereum (ETH) and Cosmos. As Cointelegraph reported, Interlay began building its Bitcoin bridge in early 2020 after receiving a grant from Web3…

Fantasy soccer NFT platform Sorare reportedly closing in on $532M in funding

Reports have surfaced that French NFT-based soccer trading card game developer Sorare is closing in on a $532 million funding round with a valuation of at least $3.8 billion. According to unnamed sources in Business Insider, the latest funding round is expected to be led by Japanese telecommunications giant SoftBank, along with participation from European venture capital firm Atomico. Other backers thought to be in the mix include European investment firm Eurazeo, and Blisce, a fund founded by French entrepreneur Alexandre Mars. Sorare was founded in 2018 and the firm’s…

Thales raises $2.5M for binary options platform in Synthetix ecosystem

A decentralized finance project providing binary options style trading has just completed a $2.5 million seed round. Binary options are financial instruments that allow traders to speculate on the price movement of the underlying market or cryptocurrency. There are two possible outcomes which is why they are considered binary. At launch, Thales will support markets for more than 60 different assets including cryptocurrencies, commodities, equities, and index products, before expanding into sports markets. At the time of writing, there was no mention of the specific launch date. The strategic investment…

Nifty’s Inc. launches social NFT platform with Warner Bros. partnership

The debut of Nifty’s social NFT platform came with much fanfare on Monday after the company announced a major partnership with Warner Bros. and $10 million in seed investments from some of blockchain’s biggest venture firms.  Through its Warner Bros. partnership, Nifty’s will launch a collection of limited-edition NFTs featuring characters from the upcoming movie Space Jam: A New Legacy, the company announced Monday. The movie will be released in theaters and for streaming on Friday, July 16. The Space Jam NFTs were developed with the technology of Palm NFT…

Oscar-winner Anthony Hopkins’ new film to be sold as NFT on new platform Vuele

Oscar-winner Anthony Hopkins’ new film will be tokenized and sold on an up-and-coming NFT marketplace for movies dubbed “Vuele.” The 83-year-old Hopkins has had a celebrated career and won two Oscars and two Emmys, starring in notable films including Silence of the Lambs, The Elephant Man, the Thor franchise and The Father. The new feature-length film is called “Zero Contact” and has been produced by independent film finance and production company, Enderby Entertainment. According to Enderby, the story follows five characters from around the globe “connected only by their devotion…

Boston Celtics basketball team joins fan token platform Socios

Socios, the blockchain-based platform responsible for tokenizing many popular sports franchises, has said the Boston Celtics basketball team will be joining its roster. In a Wednesday announcement from the National Basketball Association, Socios said it will have a significant presence on the Celtics’ website. Though the platform did not specifically mention it would be tokenizing players for digital collectibles, it will be using Celtics’ logos for international marketing. Alexandre Dreyfus, CEO of Socios and blockchain-based sports platform Chiliz, said this partnership with an NBA team could lead to “enhanced fan…

Former EU trade commissioner joins advisory board for DeFi dispute resolution platform

Phil Hogan, who served the European Commissioner for Trade for less than a year, will be joining the advisory board for the Astra protocol. In a Tuesday announcement, Astra said Hogan would be coming onto its board as an executive advisor, citing his experience in the European Commission and international relations. The project said the addition of the former EU trade commissioner would provide strategic guidance in partnerships aimed at driving growth to the decentralized finance industry. “Decentralised finance is becoming increasingly prominent across the world, but the lack of…