GizmoLab Report: Cutting-Edge Developments in Web3📈

A Quick TL;DR:

- Taurus and Aktionariat Partner to Trade Tokenized Swiss SME Shares on TDX

- Web3 Music Streaming Introduces Direct Stablecoin Payouts to Artists 

- Ethena Labs Unveils UStb Stablecoin Backed by BlackRock and Securitize

- Dubai Mandates Crypto Marketers Add Risk Disclaimer

- Coral Secures $3M to Boost Blockchain Climate Tech

- Ledger Expands Crypto Buying with Topper Integration

Taurus and Aktionariat Collaborate to Enable Tokenized Share Trading for Swiss SMEs on the Taurus Digital Exchange (TDX) 

Taurus and Aktionariat have joined forces to offer tokenized share trading for small- and medium-sized enterprises (SMEs) in Switzerland via the Taurus Digital Exchange (TDX). The partnership enables Swiss SMEs to tokenize their shares using Aktionariat's solution, which converts them into blockchain-based tokens on the Ethereum network. This initiative will improve liquidity access for investors and facilitate digital equity trading on TDX. RealUnit Schweiz, an investment firm focused on real assets, will be the first to list its tokenized shares, marking the launch of this program in November.

Tokenized shares provide the same economic and social rights as traditional shares, and if lost, new tokens can be minted according to the shareholder registry. The collaboration will expand opportunities for Swiss SMEs to raise capital while offering new investment options for banks, retail clients, and professional investors. This move follows Taurus’ previous tokenization efforts, including partnerships to tokenize SME loans and private debt portfolios, demonstrating their growing influence in blockchain finance.

Web3 Revolutionizes Music Streaming with Audius, Offering Musicians Direct Stablecoin Payments and New Revenue Models

Web3 is reshaping the music industry, as decentralized platforms like Audius are empowering artists with direct stablecoin payouts. Audius, a community-owned and artist-controlled streaming service, completed its private beta phase and now allows musicians to control pricing and receive payments in USD Coin (USDC). Fans can easily pay artists using credit cards, and artists can convert stablecoins into any currency of their choice. The platform also introduces a 10% revenue-sharing model with its community treasury. This development grants musicians greater financial control and enables innovative engagement methods, such as contests and direct fan interactions.

Artists like rapper MadeinTYO and producer Kato On The Track have already benefited from Audius' decentralized marketplace, finding new revenue streams outside traditional models. Independent labels such as DistroKid, EMPIRE, and Ninja Tune have also joined Audius, alongside licensing deals with major organizations like ASCAP and BMI. As Web3 tools continue to grow in influence, Audius exemplifies how decentralization can challenge existing streaming platforms like Spotify and Apple Music, paving the way for a community-driven, AI-enhanced music industry.

Ethena Labs Launches UStb Stablecoin, Fully Collateralized by BlackRock and Securitize, Offering Unique Risk Profile Alongside USDe

Ethena Labs has announced the launch of its new stablecoin, UStb, collateralized by BlackRock and Securitize. Unlike its counterpart USDe, UStb will serve as a distinct product with a different risk profile, investing reserves in BlackRock's USD Institutional Digital Liquidity Fund, tokenized by Securitize. UStb provides an additional stablecoin option for users and exchanges, especially beneficial in periods of weak funding conditions. Ethena’s innovative protocol allows for dynamic adjustments between USDe and UStb in varying interest rate environments.

Despite concerns regarding USDe's response to negative funding rates, Ethena's sUSDe has managed to avoid negative funding even during the bearish market of the past six months. ENA, Ethena's native token, surged over 16% in response to the UStb launch, with a 30% increase in open interest for ENA futures across major exchanges. This comes after a recent domain hack forced Ethena to temporarily halt its website, though core protocol and user funds remained unaffected.

Dubai Regulators Enforce Rule for Crypto Marketers to Include Risk Disclaimer, Starting October 1

Dubai's Virtual Assets Regulatory Authority (VARA) is enforcing a new rule that mandates all crypto marketers to include a risk disclaimer in their promotions, starting October 1. The disclaimer must state that "virtual assets may lose their value in full or in part, and are subject to extreme volatility." The regulation aims to provide transparency and inform potential investors about the risks associated with digital assets. Additionally, companies offering incentives tied to virtual assets must obtain a compliance confirmation from VARA, ensuring that bonuses don’t mislead investors about the associated risks.

VARA’s CEO, Matthew White, emphasized that this move is meant to foster trust and transparency among crypto firms operating in the UAE. Dubai has become a major hub for crypto marketers, thanks to favorable tax laws and a supportive business environment. As of 2024, over 100 entities have been licensed to operate in RAK Digital Assets Oasis, a free zone catering to cryptocurrency and blockchain ventures. The region's crypto trading community is expected to grow from 500,000 to 700,000 by the end of 2024.

Blockchain Climate Tech Startup Coral Raises $3 Million to Enhance Carbon Emissions Management Platform

Coral, a blockchain and AI-powered climate tech startup, has raised $3 million in pre-seed funding to expand its operations and improve its carbon emissions management platform. The funding will help Coral open a new office in Abu Dhabi, hire more experts, and further develop its AI-driven platform, which streamlines carbon data collection, footprint evaluation, and reporting. Coral’s blockchain technology enables full lifecycle traceability of carbon credits, ensuring transparency and real-time auditability of offsets.

The funding round, led by experienced tech investors, reflects growing interest in sustainable tech solutions. Coral aims to make carbon neutrality accessible to businesses worldwide by leveraging both blockchain and AI. According to Coral’s Director of Product and Strategy, Daniele Sileri, the investment will accelerate their mission to create efficient, transparent climate solutions. Coral’s Director of Operations, Jürgen Hoebarth, emphasized the startup’s unique approach of integrating AI with blockchain to help organizations meet their sustainability goals.

Ledger Hardware Wallet Integrates Uphold’s Topper, Expanding Crypto Purchasing Options 

Ledger, the leading hardware wallet provider for cryptocurrency, has expanded its crypto purchasing options by integrating Topper, a fiat-to-crypto on-ramp from Uphold, into its Ledger Live app. Announced on September 26, the integration adds a new method for users to buy Bitcoin and other cryptocurrencies directly using fiat currencies like the US dollar. Currently, Ledger Live offers 14 on-ramp services but only one off-ramp solution, with plans to add more.

Topper supports 228 crypto assets across 36 networks and aims to launch an off-ramp feature by Q4 2024. The integration brings new flexibility to crypto users, allowing them to buy and store digital assets securely on Ledger’s hardware wallet. While Ledger’s hardware wallet is self-custodial and doesn’t require KYC, on-ramp transactions through Topper do require identification. This partnership enhances the ease of access for global users, especially in high crypto adoption areas, and aligns with Ledger’s long-term goal of increasing crypto adoption.

Don’t forget to hit the button that you see below!