5ire had received a funding of $21 million in its Seed Round and was valued at $110 million
A brainchild of Indian Origin Pratik Gauri & Prateek Dwivedi along with crypto financier Vilma Mattila, 5ire is one of the world’s fastest growing start-ups and the only sustainable layer 1 blockchain in the world.
New Delhi, India, Tuesday, February 15, 2022 (GPN) – 5ire, the 5th generation blockchain network founded by two entrepreneurs of Indian origin, Pratik Gauri and Prateek Dwivedi, along with crypto financier Vilma Mattila, announced today that it had secured a $100 million capital commitment from GEM Global Yield LLC SCS (GGY) as it seeks to file for an IPO.
We are the only sustainable blockchain in the world and we will continue to work relentlessly until sustainable practises through blockchain and doing good for benefit, become a way of life for businesses,” says Co-Founder and CMO Prateek Dwivedi.
CBO and Co-Founder Vilma Mattila added, “Sustainable development is estimated to be a $20 – 30 billion dollar market in 2022 that is slated to grow to as much as $50 billion by the year 2030. For us to be able to make an impact on the world, multiple stakeholders in the ecosystem will need to come together and build a community that encourages businesses to do good.
In fact, PoS developers advocate a decentralized operation with fair participation, but most projects are in a state of some kind of centralized operation with a small number of validators who have full participation rights. Projects with a large number of validators also frequently establish pools in order to reduce revenue variability and take advantage of economies of scale. In many cases, these pools are off-chain.
To combat this problem, 5ireChain has developed Sustainable Proof of Stake (SPoS), which is a consensus algorithm that takes into account multiple factors other than the “staked amount”, and can solve the problem of the centralized structure of some validators. SPoS is based on Stake Amount, Reliability Score, Randomised Voting, Sustainability Score (Environmental, Social & Governance), and Previous Nomination.
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5ire nft vc 100m 21maa
Founded by blockchain technology proponents Pratik Gauri, Prateek Dwivedi and Vilma Mattila in August 2021, the mission of the 5ire ecosystem is to embed the benefit paradigm at the heart of blockchain, to strongly incentivize practices that align with the United Nations Sustainable Development Goals (SDGs), facilitate the transition from 4IR to 5IR, and accelerate the implementation of the United Nations 2030 Agenda for Sustainable Development. The company’s core offering is 5ireChain, a 5th generation blockchain first layer focused on sustainability that ensures adherence to the 5IR ethos, creating a net positive impact on the planet and serving humanity.
About GEMGEM is a $3.4 billion alternative investment group present in Paris, New York and the Bahamas.
5ire nft vc 100m 21mm
Network initiates a strategic partnership with 5ire to focus on building a sustainable future for the blockchain industry.
Yellow, a blockchain product and infrastructure company, and 5ire, a fifth-generation blockchain that aims to bring a paradigm shift from a for-profit to a for-benefit economy, share the news about the strategic partnership they have established to advance the development of the Yellow Network project.
Yellow Network is a decentralized broker clearing network, with a built-in multi-asset spot trading exchange powered by OpenDAX™, that offers a real decentralized trading experience with unparalleled security and transparency for all network participants – exchanges, brokers and trading nodes.
Louis Bellet, CEO of Yellow, said,
“We are excited to get 5ire as the backer of Yellow Network as their vision and technology are very consistent with ours.
5ire nft vc 100m 21mh
We had successfully closed an oversubscribed seed round of $21 million which took our valuation to $110 mn within two months of incorporation. We are really excited about this $100M investment from GEM as it is a testimony to the market confidence in our offering. This is a humbling moment for the founding team, as this shows that we are on the right track. We are grateful to all our investors for the trust shown in 5ire and our mission of embedding the for-benefit paradigm into the heart of blockchain.”
“I am very excited about our partnership with GEM and looking forward to finding synergies in how we further promote our vision of ‘For-benefit’ ventures in the 5ire ecosystem to transition the world from 4th Industrial Revolution to 5th Industrial Revolution, meet the 2030 SDGs and beyond.
One bitcoin is identical to another, but each NFT is one-of-a kind.
Why might someone want an NFT?
Sheffield: Like anything, it really depends on the use case, the individual, and their motivations.
The practice of making and maintaining collections is as old as civilization itself. It makes sense that this drive to collect and display items of meaning would follow us into the virtual world, where we’re interacting with friends, coworkers, and other Internet communities.
Take CryptoPunks — a collection of pixel art images. What began as an early artistic experiment has quickly become a cultural icon for the crypto community. In fact, to recognize the role that CryptoPunks have played as an historic NFT project, bridging culture and commerce, Visa has decided to purchase CryptoPunk 7610.
Let’s talk more about the CryptoPunks.
For example, there has already been $1B in payment volume in August alone up from less than $100M in all of 2020.
Enabling secure commerce is what we do — we’re the network working for everyone — and that extends to new forms of digital commerce that unlock access. So, it’s not surprising that we’re thinking deeply about this space and how we can apply our expertise in enabling seamless and secure digital payments to make NFT-commerce accessible and useable for buyers and sellers.
In the near term, we want to help brands and businesses better understand NFTs and how they might be harnessed for customer and fan engagement.
It’s more that the NFT markets are so illiquid that if anything is revealed in advance, it can mess up the entire position, he added.
Over a one-year period, NFT sales are up 102%, according to NonFungible.com. With the NFT market booming, Steinwold quickly realized he would need to narrow the fund and focus on four key subsets: virtual land, collectibles, art and gaming.
1) Examine the fundamentals
Regardless of the sub category, assessing the fundamentals of the project are key.
That means looking at the team, product, token economics, community, market data and risks.
“And then if it passes muster, you say, ‘okay, great,’” Steinwold said.
Global Ventures whereas the second had The Global Emerging Markets Group (GEM) as the lead investor.https://www.crunchbase.com/ organization/5ire/company_financials
5ire funding: Blockchain startup 5ire secures $100 million capital commitment from GEM – The Economic Times The platform plans to use the fresh funds for the expansion of the ecosystem, which involves liaising with government stakeholders in India and upcoming international markets, investing in technology and resources, hiring, and enhancing the adoption of 5ireChain.
Also, as far as ROI is concerned, looking at the ROI of Layer 1 in cryptorank, the ROI below 1x (below cost) was mostly seen during the ICO bubble in 2017-2018, and this is because the procurement was done before the product was ready and the company either withdrew due to lack of budget or the product was not technically or economically feasible.
Find more: Indiabased layer nft vc – Krypto-NFTs