Image Credit: Photo by Per Lööv on Unsplash
Teamshares: A Novel Approach to Business
First on our list is an intriguing venture by Teamshares. This startup has been attracting a substantial amount of capital and has embarked on an ambitious mission of acquiring numerous small and medium-sized businesses (SMBs). However, this is merely the tip of the iceberg. Teamshares also plans to offer its employees the opportunity to earn stock through prolonged service, while simultaneously providing centralized fintech services to all its subsidiary companies. This novel business model has ignited much discussion in the startup community.
MoonPay: Stepping into the Venture Game
Next, we turn our attention to MoonPay, a crypto payment infrastructure company that is venturing into the world of investments. MoonPay is setting its sights particularly on crypto, gaming, and fintech. The confluence of these three sectors invariably leads to crypto games. We are keenly observing MoonPay’s investment decisions, as new funds that are crypto-themed or crypto-adjacent are becoming increasingly scarce. Therefore, MoonPay’s entry into the market is indeed exciting news.
Rent Butter and Kiki: Revitalizing Renting
With the zero interest rate era drawing to a close and the experimental phase of building new iBuying and mortgage service startups partially concluded, renting is back in vogue. Consequently, startups that focus on rentals are also gaining traction. Two such startups are Rent Butter and Kiki, both of which are making waves in the rental market.
The Elusive Tech IPOs
The long-awaited tech IPOs have been more elusive than anticipated. Using data from Crunchbase, we have noted the extended wait for authentic tech IPOs. The good news, however, is that they are gradually making a comeback.
Lean Startup Ideology Meets AI
Lastly, we explore what happens when the lean startup ideology infiltrates the realm of Artificial Intelligence (AI). As it turns out, this combination leads to an abundance of experiments.
And with that, our roundup of this week’s most significant startup and tech news concludes. Please note that due to an American holiday, our next episode of Equity will be broadcasted on Tuesday instead of Monday. Until then, keep innovating and stay tuned!
Image Credit: Photo by Andrey Metelev on Unsplash
The U.S. Securities and Exchange Commission (SEC) has stepped into the world of non-fungible tokens (NFTs), making its first enforcement action against a company in this space. The company in question is Impact Theory, a Los Angeles-based media company, which has been accused of selling unregistered securities in the form of NFTs. This case has sent ripples across the industry, providing insights into how NFTs could be regulated in the future.
The SEC’s Lawsuit: A Brief Overview
In a landmark move, the SEC is suing an NFT project, marking the first time the authority has taken enforcement action against a company for selling unregistered NFTs. The case revolves around Impact Theory, an LA media company that allegedly encouraged potential investors to view the purchase of their Founder’s Key NFT project as an investment into the business. The SEC order stated that the digital assets offered to investors were deemed “investment contracts” and therefore “securities.”
According to the SEC, Impact Theory “encouraged potential investors to view the purchase of Founder’s Key [the company’s NFT project] as an investment into the business, stating that investors would profit from their purchases if Impact Theory was successful in its efforts.” This, the SEC argues, means that the digital assets offered to investors were in effect “investment contracts” and therefore should be classified as “securities.”
Impact Theory neither admitted nor denied the SEC’s findings but agreed to pay more than $6.1 million in penalties to settle the allegations. The settlement also established a “Fair Fund” to compensate impacted investors. As part of the agreement, Impact Theory was required to destroy all of its Founder’s Key NFTs and eliminate any royalties it might collect from secondary market transactions.
Impact on the Crypto Industry
This case is significant to the crypto industry, which has been hit with a flurry of regulatory clampdowns in the U.S. It offers a clue for how NFTs could be regulated in the future, particularly as many other NFT projects have used language similar to how Impact Theory marketed its digital assets, touting their blockchain-based identifiers as investment opportunities.
Many other NFT projects have used language similar to how Impact Theory marketed its digital assets. These projects have touted their blockchain-based identifiers representing digital asset ownership as investment opportunities. The SEC’s action against Impact Theory could set a precedent for how these projects are regulated in the future.
Impact Theory’s Response
Despite the SEC’s allegations and subsequent settlement, Impact Theory is not giving up on its NFT endeavor. In a post, the founder of Impact Theory stressed that his company will ensure its future digital assets will be for utility rather than financial purposes.
The Founder’s Statement
“We will operate our go-forward business consistent with our good faith best understanding of all applicable laws, rules, and regulations. We will make clear that all of Impact Theory’s digital assets are collectibles with utility within the exciting new landscape of Borderless Entertainment. We will forcefully discourage people from treating our digital assets as anything other than what they are–collectibles with utility. We will have more news on this in the coming weeks and months.”
As the SEC’s first enforcement action against an NFT project, this case is a watershed moment in the crypto industry. It is a stark reminder of the regulatory complexities at play in this space and underscores the need for companies to ensure they are following all relevant laws, rules, and regulations. It remains to be seen how this case will impact the regulation of other NFT projects and the broader crypto industry in the future.
As the echoes of the Notting Hill Carnival fade and we enter the twilight of summer, UK’s music scene refuses to dim. Among the artists still lighting up the stage is none other than the rising rapper and singer, Bib Sama. His latest single, “Baefriend”, is making waves and promises to keep the party going well into the autumn.
London’s Emerging Talent
Born and raised in London, Bib Sama has been on a steady climb to stardom. His debut mixtape, “PLATINUS ✧”, dropped last year and has been making noise ever since. His subsequent sold-out gig at Peckham Audio only added to the buzz surrounding this promising artist.
“All eyes have been on him ever since, and this new track looks like it could be his breakout smash.”
The Sound of “Nu-grime”
Bib Sama’s sound is as intriguing as it is catchy. Drawing inspiration from video game soundtracks and anime, he’s crafted a unique sound that’s been dubbed “nu-grime”. This genre-bending style has earned him comparisons to artists like JPEGMAFIA and Lancey Foux. But despite these comparisons, Bib Sama is carving out a niche all his own.
“Either way, he’s drawing an impassioned following that looks certain to grow beyond cult status.”
With the release of his latest single, “Baefriend”, Bib Sama continues to prove why he’s one of the most exciting artists in the UK right now. The accompanying music video, which just dropped, is not to be missed. Add “Baefriend” to your playlists and keep an eye on this emerging talent.
What’s Next for Bib Sama?
While we can’t predict the future, one thing is certain: Bib Sama’s star is on the rise. With his unique sound, impressive discography, and growing fanbase, we can’t wait to see where he goes from here.
In the meantime, we’ll be here, eagerly anticipating his next move and keeping “Baefriend” on repeat.
In the ever-evolving world of music, new stars are born every day. But few shine as brightly as Bib Sama. With his blend of unique sounds and undeniable talent, he’s an artist to watch.
Whether you’re a long-time fan or just now discovering his music, one thing is clear: Bib Sama isn’t going anywhere but up. And we’re here for the ride.
As a seasoned veteran in the music industry, Kelly Rowland has been a witness to the rise of many stars. However, one young talent that has caught her attention recently is none other than Blue Ivy, the daughter of Beyoncé and Jay-Z. Praising her commendable work ethic, Rowland is all admiration for the 11-year-old’s dedication and discipline.
“I’m very proud,” Rowland shared. “She works very freaking hard, period. But how could she not, you know? She sees her mother in action and she sees her father in action and how they apply everything, hard work to everything that they do.”
Blue Ivy: A New Star on the Horizon
Blue Ivy, at a tender age of 11, has been showcasing her talent alongside her mother, Beyoncé, on her Renaissance World Tour. The young prodigy has been turning heads with her performance, proving that the apple doesn’t fall far from the tree.
The Role of Parenting in Shaping Talent
In a recent interview with E! News, Kelly Rowland credited Beyoncé and Jay-Z for instilling discipline in their young daughter. The power couple’s influence and guidance have been instrumental in shaping Blue Ivy’s talent and work ethic.
Blue Ivy’s Debut Performance
Blue made her first appearance on the Renaissance World Tour back in May, sharing the stage with her mother and a fleet of dancers. The young star held her own among the professional dancers, impressing all with her smooth and confident moves.
The Grandmother’s Pride
Following Blue’s performance, her grandmother, Tina Knowles-Lawson, took to Instagram to express her pride and admiration.
“I am truly amazed by the courage that this brave, talented, beautiful 11-year old exhibited last night!” Lawson wrote “There were almost 70,000 people in that audience. She danced with professional dancers, grown folks, she did complicated choreography and moves that they rehearsed for months! She rehearsed and learned this in a little over a week. She was so smooth with it!”
The music industry has always been a place where talent and hard work go hand in hand. Blue Ivy is one such talent who, under the guidance and influence of her superstar parents, is making a mark at a very young age. As Kelly Rowland puts it, Blue Ivy’s work ethic is a testament to her parents’ emphasis on discipline and dedication. It’s a clear indication that we can expect great things from this young star in the future.