On 23 November, 2022, the news of the demise of Tiantian Kullander broke the internet. He was one of the leading entrepreneurial figures in the crypto world, and the news of his sudden death at the age of only 30 shocked many. Since then, people have become curious to know more about him and his net worth. 

In this article, we will explore assessments of Tiantian Kullander net worth at the time of passing, who exactly he was, and the details about his mysterious death. 

## Tiantian Kullander - Co-founder of the Amber Group 

Swedish-Chinese investor Tiantian Z. Kullander is known by TT in the business world. He had a keen interest in the DeFi industry, and because of that, he co-founded Amber Group in 2017 and Rook Labs in 2020. 

[Amber Group](https://www.ambergroup.io/) is a widely known crypto unicorn firm based in Hong Kong. The firm offers crypto trading services to its clients worldwide. TT showed outstanding commitment and put in all the hard work to bring the firm to unicorn status. He is known for introducing electronic market-making and consumer products and infrastructure that has enhanced the services of Amber Group for its institutional clients.  

Rook Labs is a unique marketplace on the Ethereum blockchain that works with [MEV design](https://www.coindesk.com/learn/what-is-mev-aka-maximal-extractable-value/). Moreover, he also founded a firm known as KeeperDAO, which introduced liquidity underwriting services for on-chain assets for the first time. Apart from that, Kullander also served as the board member of[ Fnatic,](https://fnatic.com/) an esports community. 

However, before TT started his entrepreneurial journey with his digital assets firms, he had been associated with various renowned financial firms. These include big names like Goldman Sachs, Morgan Stanley, and others. All of these professional achievements placed him in the [Forbes 2019 30 under 30](https://www.forbes.com/under30/list/2019/asia/finance-vc/#46e7f8d04baa) list. 

## Tiantian Kullander net worth estimate 

Tiantian Kullander net worth estimates from various sources suggest that it was between $100 to $150 million, approximately. Largely, TT's earnings came through his DeFi startups and [crypto investments](/news/article/crypto-invest-strategy). Sources further claim that the entrepreneur owned multiple luxurious properties, lavish cars, and motorbikes.  

However, the Amber Group was valued at around $3 billion at the time of his passing. Some [reports](https://nypost.com/2022/11/27/crypto-founder-tiantian-kullander-unexpectedly-dead-at-30/) indicate that TT was expected to raise over $100 million for his DeFi unicorn earlier in November. But sadly, Kullander died on 23 November before further developments.  

## What was the cause of Tiantian Kullander’s death? 

Tiantian’s death has been a mystery. According to reports, the young crypto entrepreneur died during his sleep, shocking his admirers. The Amber Group announced the news via its official website, confirming that TT died in his sleep. 

The firm's statement said, "He put his heart and soul into the company in every stage of its growth. He led by example with intellect, generosity, humility, diligence, and creativity." 

The statement further read that TT's creativity and knowledge have inspired many people and projects in the crypto space. It expressed the sorrow by saying, "We lost a great partner and a true friend in TT." 

However, the mysterious nature of TT’s death at such a young age has raised many questions. But no authority has found anything regarding the cause of the death of TianTian Kullander. Therefore, the demise of a famous 30 under 30 crypto investor, TT, will likely remain a mystery. 

## Final thoughts 

The death of the famous investor, TT, remains a puzzle for the business and crypto community. The entrepreneur was only 30 when he was declared dead during his sleep. 

Estimates put Tiantian Kullander net worth at between $100 and $150 million. Meanwhile, one of his startups was valued at around $3 billion. The influential crypto figure achieved tremendous feats in his short life span. 

TT was associated with financial giants like Goldman Sachs and Morgan Stanely as a trader. Later, he started to explore the DeFi industry with his startups like Amber Group and Rook Labs Inc. His outstanding achievements in his professional life have also earned him a place in Forbes 30 under 30 list. Sadly, he left the world unexpectedly at the age of only 30. 

What was Kullander's net worth? 

MagicEden is known as a top-tier NFT marketplace for Solana NFTs. But, recently, it has also [started to support](/news/article/magic-eden-expands) Ethereum and Polygon NFTs and now offers a wide range of popular digital art collections. 

The marketplace also provides minimal transaction fees, which makes it a preferred platform for NFT trading. 

Here, we’ll delve into how to use [MagicEden](https://magiceden.io/) to buy and sell NFTs. 

## Buying NFTs on the platform 

1. Here’s the step-by-step procedure for buying an NFT from this diverse marketplace. 
2. Find the NFT project you want to buy from through the collections section or the search bar.   
3. After analysing the floor price, trading volume, and other important metrics, select the collectable to buy.
4. Once you have selected a collectable, integrate a compatible wallet with the marketplace. You can find the Connect Wallet button on the top right of the screen.  
5. Find your preferred wallet from a wide range of options. 
6. Open the NFT you've picked to buy to see all its details and attributes, along with two options. You can either purchase it instantly by clicking on Buy Now or make a different price offer for the collectable. 
7. If you’re comfortable with the price, you can proceed with the Buy Now option, and it will ask you to approve the transaction.   
8. Check the amount that will be deducted and the digital asset that will be added to your wallet, and click on Approve.  

That’s how easily you can buy NFT on MagicEden. Check it by clicking on the wallet option on the top right side.   

## Selling NFTs on MagicEden 

Selling an NFT is a bit trickier than buying one. Here’s how to do it.

1. Connect your wallet containing the NFTs you want to sell on MagicEden.  
2. Once done, click on the Sell option right next to the wallet. 
3. It’ll lead to your profile, where you can find all your digital assets. Select the one you want to sell. 
4. The sell page will appear with all the details, including the previous price, mint and token address, owner, transaction, and royalty fees.  
5. After analysing all the factors, set an appropriate price for the NFT and proceed with List Now.  
6. Now approve the transaction, and your collectable will be listed for sale. You can review the received offers for it from your profile.  

Buying and selling NFTs on MagicEden is a breeze. All you need is a compatible wallet and some trading knowledge, and you'll be good to go. 


How to buy and sell NFTs on MagicEden marketplace 

The famous American basketball player LaMelo LaFrance Ball recently launched his new collection of shoes as redeemable non-fungible tokens (NFTs). 

Athletes from different sports have adopted digital assets in various ways. For instance, some have introduced fan tokens, and some have launched digital assets. And sneaker NFTs are quite popular when it comes to sports-related digital assets. 

Essentially, LaMelo shoes is a project by the player in collaboration with the renowned sports gear brand Puma and the wearable NFT collection [Gutter Cat Gang](https://guttercatgang.com/).  

This article explores these redeemable NFTs and explains how and when you can redeem them for physical LaMelo shoes. 

## LaMelo shoes - A collaboration 

LaMelo Ball is a celebrated basketball player representing the Charlotte Hornets in the NBA (National Basketball Association). He was picked in the 2020 NBA draft and signed a deal for around $100 million with Puma, aged 19. This deal included launching the MB series of wearables, including his kicks. 

The first collection, 'MB.01', was rolled out in 2021. It introduced various unique designs like the LaMelo Rick and Morty shoes. The second edition was rolled out in 2022, named 'MB.02 Fade'. It featured blue, two-shaded trainers that became a fan favourite. 

Both these editions depicted LaMelo Ball as a brand by featuring his 'wings and 1' logo and taglines like "Not from here", "Rare", and others.  

The NBA star and Puma have now launched the third edition of LaMelo shoes. This edition's unique feature is that they collaborated with the GCG NFT project to create redeemable NFTs for these kicks. Anyone can mint the NFTs and redeem them to get real trainers.  

The new edition is named “[GutterMelo MB.03](https://guttermelo.com/)", showing that it is a collaborative project. The sneaker design is vibrant, with two primary colours: blue and orange. You can also find the wing logo and Gutter Cat graphics on the shoe. 

Plus, it shows all the taglines for the MB brand, like "Rare", which is written on the bottom of the shoe in a funky font. The design is also comfortable as it comes with NITRO foam cushioning, which makes it perfect for basketball courts. 

## GutterMelo MB.03 opened mint on 29 June 

The GutterMelo collection was released on one of the [largest NFT marketplaces](/news/article/largest-nft-marketplace-2023), Opensea. It went live on 29 June, allowing fans to mint the NFTs. It includes 20 NFTs representing different sneaker sizes up to American size 15.  

According to the GutterMelo site, many buyers booked their mint immediately after the launch, and the site became over-allocated. Therefore, only the early buyers were able to mint the tokens.  

Initially, the LaMelo shoe price was set at $175 for early buyers. Wait-list buyers had to pay $195 for a GutterMelo NFT. The price for the public sale of these NFTs was $215. 

At the moment, the floor price of GutterMelo NFTs is 0.069 ETH. 

## LaMelo Shoes NFT redemption closes 

The ones who have minted the NFTs could redeem them for real shoes. The project opened the redemption period on 18 July, 2023, and was due to close on 20 August. During this period, you could claim your physical sneakers by going to the GutterMelo site and redeeming the NFT there.   

## How to redeem a GutterMelo MB.03 NFT 

Here's the step-by-step process owners followed to redeem MB.03 sneakers: 

![Guttermelo mb shoe website screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_14_at_11_33_23_d2397ed114.png)

1. Visit the GutterMelo site within the redemption period.  
2. Find the Connect Wallet option on the top-right of the screen. Click to integrate cryptocurrency wallets like Metamask, Trust, or Coinbase into the website. 
3. Ensure that the [wallet](/news/article/best-ethereum-wallet) has some amount of Ethereum to pay for the gas fee. Usually, the amount required for gas is between $5 and $35. 
4. Click the redeem button to burn a token to get a new LaMelo shoes NFT and physical shoes. 
5. Provide your shipping address while redeeming the NFT. 
6. The shipment procedure for the physical shoes will begin this month, and the receiver may have to pay the shipping charges. 

By following this procedure before the closure of the redemption period, owners could get the 'Rare' GutterMelo sneakers. 

## Final thoughts 

LaMelo Ball has launched his third edition of sneakers with Puma and GCG. 

The unique thing about this edition is that they are NFT-based sneakers. When you purchased them, you got limited edition shoes and also had them as digital collectables. 

What are LaMelo Shoes NFTs by Puma and Gutter Cat? 

One of the popular titles in action role-playing games (RPGs) is Diablo 2: Resurrected. The game offers a type of tradable in-game item called runes that provide numerous bonuses to the players. One of the runes in the Diablo 2 world is the ETH Rune which allows players to enhance the power of their weaponry.  

This article will explore the ETH Rune item in D2R in detail. So, let’s delve in to learn what it is, its unique properties, and how you can find it.  

## What is an ETH Rune in Diablo 2: Resurrected? 

It is a popular item from low-tier runes in D2R that you can use in your armours and other weapons. It can boost your weapons' strength by generating Mana and increasing the target defence. This type of rune can be socketed in your body armour, headgear, and shields to provide 15% Mana and -25% target defence. The level requirement for the item is 15, so you can use it after reaching level 15.  

However, it is not a rare item in the game, and you can find it from various sources like in chests, from monsters, and as quest rewards. But the good thing about the ETHs is that you can use them in a range of Horadric Cube recipes.  

For instance, three ETH Runes can be transmuted into an LTH Rune that can provide you with increased attack speed and enhance your skills. You can also get other high-tier runes like crafted hit power shields, caster shields, blood boots, and others.  

## Unique features of ETH Rune 

Every tradeable item in the D2R game has its own unique characteristics. Likewise, ETH also has two major and unique bonuses that it offers. Firstly, when you install an ETH in your armour, shield, or headgear, you can regenerate Mana by 15% per second.  

Secondly, it can also help you lessen your target's defence by more than 25%. It does that by making your weapons more powerful than the target's defence. For these characteristics, it is quite a helpful item among low-tier ones. 

## Which Runewords are made from ETH Rune? 

These runes are not only used in Horadric Cube recipes, but can also create runewords. In D2R, a runeword is a unique mix of runes that allows you to produce various powerful items. Each runeword has specific properties and can provide you with different strengths. Here are 12 Runewords that you can create with ETH. 

1. Stealth. 
2. Malice. 
3. Grief. 
4. Fury. 
5. Zephyr. 
6. Memory. 
7. Rhyme. 
8. Breath of the Dying. 
9. Holy Thunder. 
10. Splendour. 
11. Bramble. 
12. Obedience. 

## How can you obtain ETH Rune? 

There are several ways to acquire this item. One of the most common ways of achieving it is by killing different monsters. Each monster in D2R has varying chances of yielding ETHs, depending on the setting in which you encounter them. For instance, if you kill the Countess in Act 1, Tower Cellar, with Hell difficulty at level 5, there is a 1:6 chance of getting it. However, if you kill the same Countess with the same settings at a normal difficulty level, the chance rises to 1:3.  

In addition, you can also obtain it by converting your three Nef Runes into an ETH. Meanwhile, another way is to complete different game quests and earn rewards that could include ETHs.  

However, the easiest way to acquire it is through an in-game trading platform. D2R has a [trading](/news/article/axie-marketplace-platform) platform called [D2Trader](https://d2trader.net/), from which you can directly buy it. It features a price checker and an intuitive interface that enables you to trade D2R items. 

## What runes make an ETH Rune? 

If you cannot find the ETH through quests or from monsters, you can also acquire them by producing them on your own. 

For this, you need to follow a simple Horadric Cube recipe. It requires you to collect at least three Nef Runes and fuse them to create an ETH. Nefs are from the mid-tier, and you can find these items in the nightmare or above difficulty. Combining three of these runes can give you the powers of an ETH.  

## Final thoughts 

Diablo 2: Resurrected is a popular RPG that uses tradeable in-game items. Although these items do not have real-world value, they provide numerous benefits in the game. 

A standard item in D2R is the ETH Rune which gives you different strengths. You can use these to boost your Mana and decrease the target's defence. 

There are several ways to acquire this item. You can get it by defeating monsters, completing quests, fusing 3 Nefs, or buying it from the D2Trader. 

What is ETH Rune and how do you obtain it? 

Cybercriminals use various ways to hide their [misdeeds](/news/article/cryptocurrency-crime-rise), such as masking their transaction history and [laundering money](/news/article/crypto-aml) through cryptocurrencies. Fortunately, investigators are now well-equipped with fraud detection tools and software, including the Bitcoin extractor. 

This article explores what BTC extractors are and how they work to extract addresses from numerous data sources. 

## What is a Bitcoin extractor? 

It is a tool designed to obtain BTC addresses from a string of text or code. Addresses can be extracted from numerous sources, such as text documents, websites, emails, chat logs, and images. The primary function of a BTC address extractor is to locate strings of characters that match the structure of a Bitcoin address.  

Moreover, these scripting tools can work for deducing both public and private keys. These tools can scan any data source and gather crypto addresses from them. After that, they present the output in a CSV file to easily be used to track transactions or recover stolen assets. 

## How does a Bitcoin extractor work? 

These extractors rely on different types of machine-learning algorithms that are trained to detect crypto addresses. Generally, the first stage in gathering BTC addresses is pattern recognition. They get familiar with the alphanumeric structure of a BTC address and look for patterns in them.  

Secondly, the tools thoroughly scan sources to find strings that fit the recognised pattern. The scanning then reveals potential BTC addresses, but there can be some false positives, too.  

Some tools may also run multiple verification checks to ensure that the outcome they provide is a genuine Bitcoin address. The verification process may include performing cryptographic calculations. 

Finally, the extractor compiles the list of all the addresses found in the source data in a CSV file. It also includes the file path where the address was found, along with a globally unique identifier (GUID). Users can then use this list for various purposes, such as verifying transactions, conducting audits, or managing user accounts. 

## What is Nuix Bitcoin Extractor? 

It is a [Bitcoin extractor](https://github.com/Nuix/Bitcoin-Extractor) designed by the UK South West Regional Cyber Crime Unit (SWRCCU). It is one of the most trusted tools for obtaining BTC addresses and public and private keys (xPubs/xPrvs). 

Nuix is a powerful software that relies on the data indexed by Nuix Workstation and can locate help in fraud investigations. 

It is a Ruby script developed for scanning plain texts. However, it can work with varying datasets from cloud storage, smartphones, laptops, or other devices. For pattern recognition, it uses a regular expression method that helps find the hidden addresses in the source data. 

After that, Nuix uses a Python script to validate the output. It can also gather further details like transaction history, wallet balance, and throughput value. Then, it sorts out all the findings and presents them in a CSV format.  

## Why do we need a BTC extractor? 

A BTC key extractor can be used for a wide range of purposes. Here are a few of them: 

1. It can be used for fraud detection as it can detect an address involved in fraud.  
2. Forensics can use it to find an address from retrieved data that may be helpful in asset recovery. 
3. Investigators can use it to track the flow of Bitcoins between different wallets to prevent illegal activities.   
4. You can track your own transactions, which can help manage personal finances.  

## Final thoughts 

A Bitcoin address extractor is a valuable tool that enhances the efficiency of handling Bitcoin addresses. 

Recognising and validating addresses from various sources empowers you to verify transactions, prevent fraud, and ensure accuracy. You can also manage your finances through these tools by keeping track of transactions. 

What is a Bitcoin extractor and how does it work? 

Aptos and Sui are two emerging layer 1 (L1) blockchains with promising efficiency and scalability. However, both differ in terms of their mechanism and architecture. In the Aptos vs. Sui battle, how do you pick the ideal L1 for your blockchain project? 

This article explores the features and potential to determine which holds the upper hand as the ideal L1 blockchain solution. 

## Consensus mechanism 

Although both use different versions of the Proof of Stake (PoS) consensus mechanism, they are still distinct. The first relies on the PoS based on the Byzantine Fault Tolerance (BFT) to enhance security and high-speed transactions. 

In contrast, Sui uses a Delegated PoS (DPoS) mechanism that increases decentralisation and efficiency. Also, it depends on the Narwhal and Bullshark protocol through which it can process transactions in parallel.  

## Privacy and security 

The [Aptos](https://aptoslabs.com/) vs. [Sui](https://sui.io/) comparison shows that both blockchains have similar approaches. Both L1 blockchains rely on the secure smart contract language, Move, for their basic model. The use of this language in both Sui and Aptos makes them safe and transparent. 

Although Move ensures privacy and security, formal third-party audits are still essential. Both Aptos and Sui have ensured it by undergoing audits from different external platforms. 

Aptos has been audited by renowned security firms like Halborn, Certik, OtterSec, and MoveBit. Similarly, Sui is regularly audited by firms like Halborn and Zellic.  

## Scalability 

In terms of scalability, both perform well, but their approaches differ. 

Aptos has a standard modular design, which is easy to customise, giving the network flexibility. Besides, it works with the parallel execution of transaction techniques to maximise the network capacity. It helps in improving the network’s speed and provides scalability.  

On the other hand, Sui has a directed acyclic graph ([DAG](https://en.wikipedia.org/wiki/Directed_acyclic_graph)) design with multiple layers. It relies on sharding techniques to improve its TPS (transactions per second). The blockchain’s structure can split different processes like data storage, consensus, and computation, which inflates overall scalability and efficiency.

## Tokenomics 

At the launch of the Aptos mainnet, 1 billion [APT tokens](/news/article/aptos-crypto-2023-investment) were introduced. Around 82% of this total supply is reserved for PoS contributions. However, Aptos Labs provides the initial token distribution breakdown as follows:  

![Black and white comparison table](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_30_at_11_29_21_e6eaa10ac5.png)

In comparison, Sui has provided a clearer overview of its economy via its [whitepaper](https://github.com/MystenLabs/sui/blob/main/doc/paper/tokenomics.pdf?ref=blog.sui.io). The total supply of its native tokens is 10 billion, distributed in five parts. The largest part (50%) is reserved for the community, and the other four elements are divided among early contributors, investors, Mysten Labs treasury, and community access program and app testers. 

![Sui Token Distribution by Sui](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_30_at_11_30_15_16008a4d88.png)

## Aptos vs. Sui: Final verdict 

The comparison shows that both L1s offer solid infrastructures for deploying smart contracts. They provide architectures that are scalable, efficient, and secure. 

However, both projects are nascent and have yet to impact the industry. So, it will be crucial to see how the two compete with the L1 giants like [Ethereum](/coins/eth), Solana, and others. 



Aptos vs. Sui: Which is the ideal L1 blockchain? 

Blackberry Inu (BKBY) is a newly launched [meme coin](/news/article/meme-coins) in crypto. Like [DOGE](/coins/doge) and SHIB, these coins also aim to introduce a community-driven platform through which all members can earn rewards. The project is deployed on Ethereum and offers around 100 million tokens. 

This article will explore the new meme coin project and uncover its potential. So, let's find out!  

## What is Blackberry Inu? 

BKBY plans to build an ecosystem like other meme coins with an incentive-based system. It allows you to hold tokens and earn rewards based on the duration you hold them. The [Shiba Inu token](/news/article/shiba-inu-crypto) will also play a vital role in its rewarding program.  

The project is focused on developing a completely decentralised platform that puts the community at the centre. It is also dedicated to mitigating the risk of data leaks in most centralised platforms. Apart from that, the token will likely have several real-world uses, so users can purchase goods and services with it.  

## Blackberry Inu price and tokenomics 

It is still a very new project and has yet to be listed on any major exchanges. Although it gained some traction recently, its price has[ still been volatile](https://www.livecoinwatch.com/price/BlackberryInu-BKBY). 

The tokenomics of BKBY is designed to encourage holders to stake their tokens and play a role in the community. The total supply of these tokens is 100 million, of which 50% will be burned at the launch. Meanwhile, the transaction fee on the platform is 8%. Half the fee is distributed among token holders, while the other half is added to the liquidity pool. Overall, the BKBY tokenomics is designed to boost community participation. 

## Is BKBY coin a good investment? 

It is a recently developed project not listed on any trusted exchanges. Besides, the project's official website isn’t active, and there is no other source to verify the information. 

In addition, there is a lack of clarity regarding its tokenomics and rewarding system as to how it will use the Shiba Inu tokens. Therefore, the future of BKBY seems uncertain right now, so carry out proper research before investing any amount. 

Exploring the Blackberry Inu ecosystem

This article discusses the GateEx scam, which reportedly used different domains to run faux crypto exchanges. It explores how accurate the allegations are against GateEx and how you can protect your funds. 

Since its inception, the crypto market has been plagued by scammers using varying tactics to deceive investors and lure them into investing big in their projects. These include tactics like [pump and dump,](/news/article/how-to-spot-a-pump-and-dump) [rug pulling](/news/article/rug-pull-what-is-it), and artificial inflation to trick the investors. 

## What is the GateEx scam? 

GateEx is a crypto exchange that claims to offer users a secure platform to buy and sell crypto assets. Some sources report that it provides more than 400 cryptocurrency options, and you can trade them with a trading fee of 2%. 

However, it faces serious allegations of running a fraudulent scheme where investors have lost their funds. 

Multiple websites operate in the name of GateEx exchange. Some of the domains related to the exchange that you may come across are:  

Gateexpro.com. 
- Gateexin.com. 
- Gateexpro.xyz. 
- Gateex-o.com. 
- Gateex-i.com. 

Most of these websites are not accessible right now, and you may likely find other domains for the exchange. 

These websites propagate deceitful content that promises high returns for depositing crypto in the exchange. As soon as users create an account and deposit funds, they lose it all as it does not give any withdrawal option. 

## How does the GateEx scam work? 

The scammers behind the project pose as a [crypto trading exchange.](/news/article/best-crypto-exchange-uk-reddit) They entice the investors to deposit their digital assets into the firm to receive high returns through trades. However, all the assets that users deposit in the exchange go directly into the pockets of [scammers](https://www.scamwatcher.com/scam/view/580273?__cf_chl_tk=EKfOW0mfsWE4HKsAgGx9bwt8qD.NlAVMzWq1fAc9bZY-1692116864-0-gaNycGzNHXs). 

So, anyone who trusts the platform for trading crypto may lose all their assets.   

When you create an account on GateEx, and place some crypto in it to start trading, you will first see live trades with incredible profits. But when you try to withdraw assets, the platform will not allow it, and you lose your funds permanently. 

Reportedly, it is built so that depositing crypto shares your private keys with the platform. That's why they get access to your funds and can manage them easily.  

## GateEx scam: Questions on the platform's legitimacy 

Here are some of the questions that arise regarding the legitimacy: 

### Multiple inactive domains 

One of the most concerning things about the platform is that it operates with numerous domain names. All of these domains use similar deceitful tactics to lure investors. Plus, many of these domains are inactive, and new ones keep appearing to replace them. It suggests that the scammers shut down the website once they illicitly get funds from investors and continue creating new ones to lure more investors. 

### No withdrawal 

Another thing that makes the platform’s credibility dubious is that you cannot withdraw your crypto from it. Once you deposit the amount in a GateEx account, it gives scammers direct access to your funds, and they can transfer it to any other wallet without a trace. Therefore, the platform does not allow you to withdraw funds from your account. 

### Personal data breach 

Users who have been victims of this scam reported that they lost their assets and faced data breaches. The exchange requires your personal information for setting up the account. It includes details like your email, phone number, social security number, financial info, residential address, and others. Scammers can also manoeuvre the information and compromise your privacy. 

### No verifiable credentials 

Yet another thing that makes it dubious is that there is no source from where you can verify the platform’s claims. The number of cryptocurrencies, trading fees, and other features it offers are unclear. That’s why using the platform for [crypto trading](/news/article/simple-cryptocurrency-trading) could be highly risky.   

## GateEx scam: What to do to recover your funds? 

Here’s what you should do if you become a victim of the GateEx exchange scam.  

1. Firstly, you should immediately disengage yourself from any trading activity on the platform. 
2. Secondly, you need to collect as much information as possible about GateEx. 
3. Then look for the relevant authorities in your country who can assist you with financial fraud. You can report to the [ActionFraud](https://www.actionfraud.police.uk/) website if you are a UK citizen. 
4. If the authorities catch the scammers behind it, you may get a percentage of your funds back. However, there is no guarantee. 
5. Lastly, take all the precautionary measures, like checking your bank’s insurance policy and protecting all other financial accounts.

## Closing thoughts 

GateEx exchange is one ill-reputed trading platform in the crypto market that has scammed many investors. 

The platform claims to run a crypto exchange with more than 400 coin options and promises unrealistic investment gains. However, there is no resource to support these claims, and you will mostly find GateEx scam reports on the internet.  

The fraudulent actors behind the exchange use a range of domains to attract investors. After they collect the funds from investors, the website disappears, and they start selling the same services through another domain. 

What you need to know about the GateEx scam 

The United Arab Emirates (UAE) has become a global hub where innovation and prosperity collide. Due to this, the country has a dynamic financial ecosystem where crypto investors can also thrive. If you're looking to invest in crypto and searching for the best crypto exchange UAE option, this article might help. 

Here, you can find the top seven cryptocurrency exchanges in UAE based on their trading features and ease of use. So, let's delve in! 

## Which is the best crypto exchange UAE option? 

Here are the seven best crypto exchanges in the UAE. 

### Binance 

The most popular crypto exchange UAE option is[ Binance](https://www.binance.com/en). It's the largest cryptocurrency exchange in the world in terms of its trading volume, markets, and liquidity. The platform offers more than 350 digital coins and supports various fiat currencies, including AED. Furthermore, this option is secure for UAE investors as it is licenced by Dubai’s Virtual Assets Regulatory Authority (VARA).  

The best thing about the Binance exchange is that the trading fee on the platform is minimal. The transaction fee on the platform could be as low as 0.10%. Besides, you can[ earn rewards ](/news/article/binance-staking)based on a certain percentage if you have idle cryptocurrencies.  

### Coinbase 

[Coinbase](https://www.coinbase.com/) is among the [leading crypto exchanges ](/news/article/best-exchanges-for-crypto-uk)renowned for its security and user-friendly interface. The exchange has a global footprint as it is licenced by various regulators, including the FCA and FDIC. It can also serve Emirati users as it seeks approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM).  

Coinbase introduces a wide range of virtual assets and fiat currencies you can easily buy. The trading fee on the platform varies between 0.05% and 0.6%. Plus, it has a cryptocurrency staking option, allowing you to gain crypto profits. 

### eToro 

Another crypto exchange UAE option on the list is [eToro](https://www.etoro.com/). It's a platform that presents diverse investment options, including digital assets. You can buy and sell more than 75 coins, including all the popular ones like BTC, ETH, and XRP. The platform is famous for offering a beginner-friendly procedure for buying and trading cryptocurrency.  

The [eToro broke](/news/article/best-exchanges-for-crypto-uk)r is an economical platform that charges only 1% as a transaction fee. Its users are also well-protected as it follows several investor protection measures. Also, eToro has a social trading service that allows novice traders to gain experience by following the trades of other traders.  

#### CoinMENA 

[CoinMENA](https://www.coinmena.com/) is yet another option for the best crypto exchange in the UAE. The platform is specifically designed for digital asset investors in MENA (the Middle East and North Africa), hence the name "CoinMENA.” It is based in Bahrain and is authorised by the Central Bank of Bahrain. It is one of the most trusted exchanges in the region that has also secured a licence from VARA.  

Moreover, the CoinMENA exchange is Shariah-compliant, so Muslim investors may find it the ideal forum for buying and selling cryptocurrency. It also has an amount-based fee structure. This means if you are trading more volume of crypto, you will have to pay less.  

### BitOasis 

[BitOasis](https://bitoasis.net/en/home) crypto exchange in UAE is also a viable option for trading cryptocurrencies. The platform is based in Dubai and caters to investors across the Middle East. It currently deals in more than 60 virtual assets you can purchase with AED and other fiat currencies. It has a seamless procedure for opening an account and registering on the platform. 

BitOasis acquired the Operational MVP Licence in March 2022, but VARA revoked it in July 2023. Currently, it is working out the terms to renew the authorisation from VARA. The platform is hopeful to meet the requested conditions from Dubai's financial regulator.   

### Crypto.com 

[Crypto.com ](https://crypto.com/)is also a well-known cryptocurrency exchange globally, and Emirati investors may acquire its services. The platform was established in 2016 in Hong Kong and later shifted its operations to Singapore. It is currently catering to clients in more than 90 countries. What makes Crypto.com a unique option is its ecosystem of related services that include crypto interests, Visa cards, Crypto.com Pay, and an [NFT marketplace](/news/article/crypto-com-nft). 

The exchange charges around 2.99% for debit and credit card transactions. Meanwhile, for other trades through the exchange, you will have to pay a fee of around 0.40%. Aside from that, it gives you more than 250 options of virtual currencies, and you can begin trading for as low as $20. 

### OKX 

OKX can be another trusted and secured crypto exchange UAE option. More than 300 coins are listed, with all the basic trading options like spot, futures, swap, margin, and others. It is one of the cheapest exchanges that allow you to trade cryptocurrencies at the lowest fee of 0.08%. 

Moreover, the [OKX]https://www.okx.com/) exchange also comes with an NFT marketplace. It also has an OKX wallet where you can securely keep your coins. You can also join the OKX Earn program to generate passive income from your coins.  

## Final thoughts 

The UAE's crypto landscape offers a diverse array of exchanges catering to every trader's needs. From user-friendly interfaces to top-notch security features, these top seven picks stand as prime choices for confidently navigating the world of cryptocurrencies. Embrace the digital revolution and embark on your crypto journey with the best exchange for your trading goals. 

Best crypto exchange in the UAE: The top 7 picks 

Here, we introduce the [Bitcoin Edge Wallet](https://edge.app/), which may be the ideal wallet for safekeeping your crypto. 

Cybercrime is a burgeoning issue in the crypto market that has swept more than $600 million worth of digital assets from the market. As a result, investors are on the constant lookout for a secure option for keeping their crypto. However, due to the multitude of options available in the market, picking the right one could be tricky.  

Introducing Edge. 

## What is Bitcoin Edge? 

Edge wallet is a digital wallet that you can use for storing all your cryptocurrencies. It is an app-based platform that keeps your assets safe and gives you a seamless interface to manage them. It allows you to safely trade your assets while keeping control with you. 

The wallet lets you buy and sell more than 130 coins on its app. Meanwhile, you can secure access to the wallet by setting up a biometric or a PIN login. You can also easily switch devices because of its auto-sync feature. 

## Create an account on Bitcoin Edge in 6 steps 

Here's how you can create an account on the app: 

1. Visit the app store, find the app, and download it. 
2. It will show a 'get started' option; select it to go to the page to set up a username and password. 
3. Type in the username and enter a password by following its guidelines for using certain characters.  
4. Add a unique four-digit PIN for your account to add a protective layer for accessing it. 
5. After that, it will show you your account details. It is crucial to note and keep it safe, as you may lose access to your account without it.  
6. Once done, review the wallet's terms and conditions and proceed with 'Confirm & Finish'. 

Finally, your Edge account will be ready to use. You can view the dashboard and two wallets on it. Initially, it gives two options: My Ether and My Bitcoin. But you can add other wallets per your preference.  

## How to buy Bitcoin with Edge Wallet 

To purchase Bitcoin with Edge Wallet, go to 'Buy' at the bottom of the screen. 

![Edge app screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Edge_app_screenshot_5723449ce1.png)

Multiple payment options will appear on the screen when you select it, including bank transfer, credit or debit card, Apple Pay, and others. You can choose any of them as per your preferences. 

Once you select a payment method, the app will guide you through the purchasing process. Follow the directives and pay the amount to buy the BTC. After that, the payment will be accepted, and the app will transfer the BTC to your account.  

Buying crypto through these payment methods is one of the most convenient options, allowing you to buy directly from the app. However, you have to pay an extra fee to enjoy this convenience.  

There are several other options to buy crypto aside from Bitcoin Edge. A common among them are centralised exchanges like[ Coinbase](/news/article/coinbase-review-uk), Binance, or [Kraken](/news/article/kraken-review). You can also purchase BTC from decentralised exchanges like Uniswap, [PancakeSwap](/news/article/what-is-pancakeswap), or [Trader Joe](/news/article/trader-joe-xyz-launches-amm). Regarding the transaction fee, cryptocurrency exchanges are the cheapest among all other options for buying crypto.  

Apart from using a [cryptocurrency exchange](/news/article/what-is-a-cryptocurrency-exchange), you can also opt for peer-to-peer (P2P) transfers. It lets you buy or sell crypto directly from another trusted person. This type of trade is facilitated by various payment gateways like PayPal, ACH transfer, Venmo, and others.  

## Final thoughts 

Bitcoin Edge is a powerful mobile wallet for securely managing and trading more than 100 cryptocurrencies on one intuitive platform. The app's intuitive interface is easy to get acquainted with and make trades whenever you like. 

Furthermore, the app can easily auto-sync with any of your devices so that you can manage your assets seamlessly. It also maintains a high level of security by letting you add a PIN or biometric for every wallet on the app. 

In this article, we covered how to create an account on Edge and use it to buy Bitcoins. You can confidently set up and navigate the wallet by following these simple steps. 

Bitcoins falling out of edge wallet on a desk

What is the Bitcoin Edge Wallet and how do you use it? 

Jake Paul, the Bitcoin investor and professional boxer, recently made headlines in the crypto space. Paul, along with several other renowned figures such as [Lindsay Lohan](/news/article/lindsay-lohan-faces-charges-from-sec) and DeAndre Cortez Way, faced charges from the US SEC [for promoting securities](/news/article/us-sec-regulation).  

The SEC issued a statement about the case in a press release on 22 March, 2023. It signified that Paul and eight other celebs endorsed two unregistered crypto securities, BitTorrent (BTT) and Tronix (TRX). Allegedly, Paul was specifically involved with the TRX tokens' promotion introduced by the Tron Foundation Limited.  

However, the US financial watchdog and the digital content creator turned boxer immediately devised a settlement plan.  

## Paul negotiated a settlement of $400,000 with the SEC 

According to an [ESPN report](https://www.espn.in/boxing/story/_/id/35920648/sec-charges-jake-paul-unlawful-promotion-crypto-assets), the settlement terms from the SEC included the payment of $400,000 as penalties and interests. The amount was set to pay for the charges for promoting a cryptocurrency without explicitly mentioning that the company behind the coin paid them. Paul and other celebrities who were also charged with the breach of SEC laws agreed to pay the settlement amount.  

The financial regulatory body alleged that the prizefighter endorsed the TRX tokens for compensation in cryptocurrencies worth $25,019. For pressing the charges against Paul, the SEC referenced his Twitter post from 12 February, 2021. Paul was replying to the Rapper Lil Yachty in the tweet and mentioned #TRX with a rocket emoji. 

Supposedly, the tweet was sponsored and influenced people to invest in the token. Due to this reason, regulators filed charges against Paul and other famous figures. However, the prizefighter denied the charges even after the deal. 

## A lawsuit against Justin Sun and his three companies  

The SEC also filed charges against the companies behind TRX and BTT tokens, namely Tron Foundation Ltd., Rainberry Inc., and BitTorrent Foundation Ltd. All of these companies were set up by a prominent entrepreneur in the crypto space, Yuchen Justin Sun. According to the filing, these companies sold unregistered securities to their customers. 

Apart from that, the charges against Sun included using wash trading and deceptive tactics to manipulate the market. Allegedly, Sun and his companies were selling and purchasing their tokens at almost the same time to fraudulently maintain the trading volume of the tokens in the market.  

They used this scheme only to maintain the tokens' price and compensate the celebrities. Meanwhile, other media figures named in the case were Lindsay Lohan, Soulja Boy, Kendra Lust, Rapper Lil Yachty, Austin Mahone, Akon, and Ne-Yo.  

Among these celebrities, only Austin Mahone and Soulja Boy are the ones who did not agree to the SEC settlement. 

## Jake Paul Bitcoin and crypto shilling 

Jake Paul is an infamous American media personality who started his boxing journey in 2018. In recent years, the boxing star also became quite popular in the cryptocurrency world because of his investments in cryptocurrencies as well as non-fungible tokens (NFTs). The Jake Paul Bitcoin association began about two years ago, when he revealed in [a BitBoy Crypto podcast](https://www.youtube.com/watch?v=Ezffg0qtAXA) that he invested in BTC when it was only worth $100, and he has been hodling the asset since then.  

The tweet for Tronix was not the first instance when the boxer endorsed a cryptocurrency. He is often introduced as a rising crypto influencer in the crypto space and has been rooting for numerous blockchain projects.  

While there is a Jake Paul Bitcoin association, other projects he has been associated with in the past do not have a good reputation in the market. In 2022, a project named Animoon, which he promoted, exited the market with an alleged [rug pull](/news/article/rug-pull-what-is-it) of around $6.3 million. Moreover, his brother Logan has also been involved in the [CryptoZoo](/news/article/logan-paul-cryptozoo) scam. 

Jake paul in front of red pile of bitcoins

Jake Paul - Bitcoin Investor or Shiller?

This article is a B[itcoin Era](https://bitcoinera.app/) review, examining the robotic crypto trading system that has left many wary about its legitimacy. 

Crypto trading has recently become a prevalent way of generating passive income. Due to this, many platforms have emerged that use advanced algorithms and artificial intelligence to assist investors in trading. However, it is never risk-free to trade crypto, particularly on these platforms. Therefore, it is advisable to be careful while dealing with such trading forums.  

Let's delve to find out whether Bitcoin Era is a safe option to trade cryptocurrencies or not. 

## Bitcoin Era review: What is it? 

Bitcoin Era is a trading bot for cryptocurrencies that claims to use advanced AI algorithms to automate trades. It allows the traders to develop a simple[ crypto trading strategy](/news/article/simple-cryptocurrency-trading) that requires minimal observation and follow-ups. It is a web-based platform that can make trades on your behalf, so you do not constantly have to monitor market trends. 

According to the website, investors can buy or sell more than 15 coins, including popular ones like[ Bitcoin](/coins/btc), [Ethereum](/coins/eth), [Ripple](/coins/xrp), and [Litecoin](/coins/ltc). It also gives you four options for fiat currencies: USD, GBP, JPY, and Euro.  

It does not cost you to set up an account on Bitcoin Era. Still, you need a minimum deposit of $250 to start automated trading. Meanwhile, the trading web app only charges a trading fee of 2%, and there are no fees for withdrawals and deposits.  

The website maintains that the investors using its unique services have a success rate of around 85%. However, this claim is not backed by any sources or independent Bitcoin Era review. Therefore, the legitimacy of the platform remains in doubt. 

## Bitcoin Era review: Pros and cons 

Now, let's look at some of the pros and cons in our Bitcoin Era review. 

### Pros 

- Easy-to-navigate interface. 

- Supports buying and selling of multiple assets. 

- Offers demo accounts. 

- No deposit or withdrawal fees. 

### Cons 

- Unverifiable claims of success rates. 

- Lack of positive reviews for the platform. 

- The initial deposit amount is relatively higher. 

## Which features does Bitcoin Era offer? 

Here are the main features that the web app claims to offer to its clients: 

### Intuitive interface 

The web app asserts that it provides an easy-to-use interface to make trades. The automated trading feature creates further ease for investors as they can start with virtual assets without prior knowledge.  

### Multi-asset trading 

The trading forum also supports around 15 cryptocurrencies, including the leading ones like BTC, ETH, ADA, and DASH. It lets you build a diverse portfolio of all the popular coins in the market. 

### Options for both manual and automated trades 

The platform is known for its copy or automated crypto trading services. It holds that its AI-based trading services can make up to 85% of investor profits. Nevertheless, this tall claim is not supported by any data.  

It also allows you to trade manually based on your own market insights. You can even use the forum to educate yourself about market trends. It offers real-time market analytics that makes [crypto investing strategies ](/news/article/crypto-invest-strategy)even for beginners. 

### Demo accounts to gain experience 

You can have a demo account if you are a novice trader and need more confidence about entering the real market. You can avail yourself of this free service by registering on the platform. 

The demo account enables you to hone your skills and gain knowledge about how the crypto market works. A demonstration account can also be useful for seasoned traders as they may test their different trading strategies. 

### Minimal fees 

The platform also claims to have a no-fee policy. It does not charge any fee for creating an account. Similarly, no additional charges exist for withdrawing or depositing money in your account. It only charges a trading fee of 2% of the amount you transfer or receive. However, the Bitcoin Era app does require an upfront deposit of at least $250.  

### Swift registration process 

The cryptocurrency exchange forum has a swift registration process. Even though it follows the Know Your Customer (KYC) requirements, the signup procedure is instant. You only need to provide basic personal details and can get started on the platform. 

## Bitcoin Era review: Is it a scam? 

A review of the web app suggests that it is an automated cryptocurrency trading system that offers advanced market insights. It caters to seasoned and novice traders by offering automated and manual trades. Besides, it seems an inexpensive option as it does not charge any fees for registration, withdrawals, or deposits. Plus, you will have enough cryptocurrencies to diversify your portfolio with options ranging from Bitcoin to Binance Coin.  

However, what makes one suspicious about the platform is its exaggerated claims and marketing tactics. For instance, its claim of 85% profit seems grossly inflated as it is not substantiated with data. Moreover, only a few independent reviews support these claims. As a result, the entire image of the platform becomes dubious. 

## Final verdict 

Although there are no direct signs of a scam, it provides misleading information. This is what makes such platforms quite risky. So, considering the Bitcoin Era as an investment opportunity, it's crucial to be aware of the risks involved. Ensure to follow a robust risk management strategy and carry out thorough research. 

Bitcoin Era review: Is it a legit trading platform? 

To short a crypto, such as Bitcoin, refers to the process of borrowing and selling a cryptocurrency with the hope that its price will decrease in the future. 

It allows one to buy the asset at even lower prices later to gain profits. It is a profitable short-term investment plan that involves higher risks. 

However, you do not have to deal with individual cryptocurrencies for shorting. Instead, you can invest in derivatives such as [21Shares Short Bitcoin ETP](https://21shares.com/product/SBTC). It is an exchange-traded product (ETP) that enables you to get daily inverse profits. Let's find out what it is and how it works. 

## What does it mean to short Bitcoin?  

Before we move on to 21Shares short BTC, let's first discuss what exactly shorting BTC is. Shorting is a technique that enables you to make daily profits when the BTC price is depreciating. This way, you can make gains even when market conditions are tough. 

It is a way of leveraging the dipping price of the coin by getting inverse profits. It means you can sell the borrowed crypto at a higher price, considering it will depreciate continually. 

So, when the price of Bitcoin declines, you can buy it back and return it to the lender. This allows you to make gains from the fluctuating price of Bitcoin. 

Now, many crypto trading platforms offer various types of derivatives in the form of contracts for difference (CFDs). These may also include exchange-traded products (ETPs). 

## What are ETPs? 

A crypto ETP is an investment vehicle that uses crypto tokens as its backing. It is quite similar to traditional investment vehicles, usually backed by gold. Similarly, these products can be traded on exchanges like any other stock.  

The main difference here is that they are backed by cryptocurrencies like Bitcoin and allow you to track their performance in the market daily. A prominent example of a crypto ETP is Fidelity Physical Bitcoin (FBTC). 

## What’s 21Shares Short Bitcoin ETP? 

It is an offering by the 21Shares platform denoted by the ticker SBTC. SBTC is a product through which you can get inverse BTC returns of -1x. The returns are based on daily price fluctuations and are multiplied by -1. Since they depend on daily price variations, you cannot hold Bitcoins for longer periods. Therefore, you must know the right holding spans and the risks involved in shorting.  

The procedure of short Bitcoin involves borrowing BTCs from the platform and selling it at the same time before the value is expected to decrease. Through this, you can generate profit from the declining price of BTC. You have to use USD or US Dollar Coin (USDC) along with BTCs as collateral for using the SBTC product. 

## Benefits of using SBTC 

There are various upsides to opting for the SBTC product by 21Shares. Firstly, it allows you to navigate [the bear cycles](/news/article/crypto-bear-market-survival) by offering inverse returns. Secondly, it gives you daily liquidity that can assist you in day-to-day trading. You can open and close trades within 24 hours.  

Apart from that, inverse returns can also help you in rebalancing your portfolio. Since the -1x factor resets after each day, your portfolio can adjust to the price fluctuations easily. Moreover, the platform offers an institutional standard system that can facilitate you in terms of crypto custody, trading features, and analytics. This smoothes out the entire procedure and creates convenience for you.  

## What are the costs of 21Shares Short Bitcoin ETP? 

According to Boerse Frankfurt, the current price of the ETP is 0.7197 for 84,845 pieces. Yesterday, the closing price was 0.7201, and there was a difference of around 0.22%, whereas the spread absolute was around 0.0015. Aside from that, the daily turnover in the number of pieces has been 13,614.  

In the past 52 weeks, the lowest difference has been 0.6794. Meanwhile, in the same period, SBTC observed the highest difference of 1.8631. 

Here’s what the one-year chart for the Short Bitcoin looks like: 

![Chart of Short Bitcoin](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_04_at_15_47_59_5b2c09e8a2.png)

The chart shows that with the start of 2023, the cost of the ETP started to fall. The main reason behind it is that Bitcoin’s price has made substantial gains this year and has maintained [an upward trend that started in December 2022](/news/article/btc-price-today). It affected the inverse return mechanism, which performs best when the market shows bearish signals. On the other hand, SBTC performed comparatively higher in the last five months of 2022.  

## Closing thoughts 

21Shares Short BTC product presents a unique investment opportunity for those looking to hedge against potential downward movements in the price of Bitcoin. The product’s inverse performance makes it highly competent for the bearish market. That’s why if you use it strategically, you can generate high returns even in bearish cycles.  

However, short Bitcoin is a high-risk and high-reward strategy. So, if you are looking to invest in SBTC, you must have an advanced level of trading knowledge. But it is advisable to be fully prepared for risk management and only invest according to your risk appetite.  

21Shares Short Bitcoin ETP: All you need to know 

The raving AI boom of 2023 has capped the hype for Metaverse tech. Many critics even [wrote obituaries](https://www.businessinsider.com/metaverse-dead-obituary-facebook-mark-zuckerberg-tech-fad-ai-chatgpt-2023-5) for Mark Zuckerberg’s idea of a virtual world. Amid this, you might wonder whether Metaverse is dead, and if not, then who are leading the Metaverse companies? 

So to clear your doubts, here we have curated a list of seven leading Metaverse companies. The list has some big tech names that suggest the concept behind the virtual world isn't going anywhere anytime soon. So, let's get you started! 

## 7 Metaverse companies you must know about 

Here are the seven Metaverse companies you need to know about. 

### Meta Platforms Inc. 

[Meta Platforms Inc](https://investor.fb.com/home/default.aspx). became a global leader in the Metaverse industry when it rebranded itself in 2021. The name 'Meta' symbolises the company's focus on building a 3D virtual world. Meta's CEO, Mark Zukerberg's announcement of this shift spurred global hype for the idea of virtual worlds, and many businesses and tech giants started exploring it. 

Meanwhile, the company has invested more than [$36 billion](https://www.businessinsider.com/charts-meta-metaverse-spending-losses-reality-labs-vr-mark-zuckerberg-2022-10) into Metaverse-related projects. It focuses on developing advanced devices for augmented reality (AR) and virtual reality [(VR](/news/article/metaverse-vr-project-guide)). Also, Meta is creating a supporting environment for developers to experiment with new ideas.  

The most impactful development towards creating immersive experiences is its AR/VR products like Meta Quest 2 and Meta Quest Pro. Plus, it has also introduced the Meta Horizon Worlds for 3D games.  

### Alphabet Inc. 

Another leading name among Metaverse companies is [Alphabet Inc](https://abc.xyz/)., one of the largest tech businesses. It is Google's parent company, which began investing in AR/VR tech in 2014 with its Google Glass project. However, due to the lack of awareness about Metaverse back then, the project was not a success. 

Nevertheless, Alphabet Inc. again started to invest heavily in related tech after the concept of Metaverse gained traction in 2021. According to some sources, Google has infused around $39.5 million to acquire numerous related projects. For instance, it acquired North, a smart glasses company, and Raxium, a microLED startup. 

Alphabet has also started working on its Google Metaverse. Although it is unclear what this 3D world will be like, various projects in the pipeline hint at what it will feature. These projects include Project Iris, Starline, [ARCore](https://developers.google.com/ar), and the integration of AR in various of its offerings. 

### Roblox Corporation 

[Roblox](https://www.roblox.com/) is a leading online gaming platform where anyone can design their own games. The platform allows you to create your own virtual spaces and [Metaverse games](/news/article/metaverse-games). You can also monetise your games by allowing others to play them and buy in-game accessories. Due to these features, Roblox makes an ideal platform for immersive experiences. 

The gaming platform currently has more than 50 million daily active users. Besides, a community of around 9.5 million developers supports it, creating new experiences and shaping an immersive realm. That's why Roblox is a veteran among Metaverse companies. 

## Nvidia 

Nvidia is another tech giant that recently made headlines as it crossed the $1 trillion mark. The firm is renowned for designing the fastest chips that support artificial intelligence (AI) computing systems. However, Nvidia has a strong foothold in the Metaverse industry, too.  

In September 2022, the firm launched its unique infrastructure as a service called [NVIDIA Omniverse Cloud](https://www.nvidia.com/en-us/omniverse/). It is a cloud services suite for developers and creators that allows them to create 3D simulations. Many leading firms like PepsiCo, Siemens, Amazon, WPP, and others developed their own experiences using Omniverse.  

## Microsoft Corporation 

[Microsoft Corporation](https://www.microsoft.com/en-pk) is yet another big contender among Metaverse companies. The firm is strategically working on building both AR/VR devices and immersive environments. Meanwhile, it has also acquired the gaming firm Activision Blizzard via a $70 billion deal which may allow it to develop 3D gaming experiences.  

One of Microsoft’s breakthrough hardware is its [Hololens ](https://www.microsoft.com/en-us/hololens)series, which are Windows-based mixed-reality glasses. The company claims these glasses can enhance workers' productivity in many industries, including education, healthcare, manufacturing, and others. 

Microsoft Mesh is another project that is another step towards developing interactive 3D simulations. It is blended with Microsoft Teams and allows for more engaging collaborations. It shows that the Microsoft Metaverse will specifically focus on designing a virtual world that offers interactive workspaces.  

Microsoft Corporation also [partnered up](https://blogs.microsoft.com/blog/2022/10/11/microsoft-and-meta-partner-to-deliver-immersive-experiences-for-the-future-of-work-and-play/) with Meta Platforms in 2022. This partnership may lead to the introduction of [Mesh](https://www.microsoft.com/en-us/mesh) into Meta Quest devices. 

## Epic Games  

The American video game giant, [Epic Games](/news/article/epic-games-nft), is also looking to advance its Metaverse initiatives. The firm is renowned for its Fortnite game and Unreal Engine, which offers an infrastructure for game developers.  

Epic Games invested more than $31.5 million in its 3D virtual world in 2022. The firms like Kirkbi, Sony Group Corporations, and others helped Epic Games raise this fund. According to its CEO Tim Sweeney, the firm plans to use it to create interactive spaces for players and offer developers a platform where they can be creative.  

## Apple 

[Apple Inc](/news/article/apple-crypto-and-nft-rules). needs no introduction as it is the largest tech company in the world, with a net worth of around $3 trillion. In the last couple of years, the company started to explore Metaverse by throwing its weight behind VR headset tech.  

Interestingly, the company has even launched its VR goggles called Vision Pro at a time when the Metaverse hype has faded. Although Vision Pro has yet to be received well in the market, VR tech designed by Apple puts weightage behind this emerging tech.   

## Final thoughts 

Metaverse may not be as big a trend as in 2021, but it is gradually taking shape. Many Metaverse companies are investing heavily directly or indirectly in various related projects. These companies involve some of the big techs like Meta, Google, Apple, and Microsoft. 

Various [video gaming platforms](/news/article/what-is-gamefi) like Epic Games and Roblox are also interested in creating 3D spaces. All these facts mean we are moving towards a world with both physical and digital realities. 

person using a VR headset to use metaverse

7 Metaverse companies you should keep an eye on 

The fashion industry is among the earliest endorsers of [Metaverse tech](/news/article/what-is-the-metaverse), embracing its related technologies in various ways in recent years, including Metaverse Fashion Week. It allows fashion brands to interact with their customers in a more engaging manner. They can now introduce Web3 games, clothing NFTs, immersive shopping, and more to increase customer engagement. 

Metaverse also paved the way for [virtual fashion shows](/news/article/queens-of-the-metaverse). One such event was organised by Decentraland is the [Metaverse Fashion Week](https://mvfw.org/). Let's explore what it was all about and how brands participated. 

## What is Metaverse Fashion Week (MVFW)? 

One of the leading decentralised Metaverse platforms, [Decentraland](https://decentraland.org/), introduced a unique fashion event in 2022. It is an annual event that celebrates creativity in the fashion industry by showcasing digital wearables in virtual spaces. Famous designers and brands from the global fashion scene take part in it and exhibit their unique collections in their virtual stores.  

MVFW is a one-of-a-kind immersive show that connects multiple Metaverses so that a wider audience can enjoy it. The event extends over four days that includes various fun activities for fashionistas. Aside from the runway shows, the MVFW covers informative panel discussions, shopping in 3D virtual stores, immersive games, afterparties, and more.  

The inaugural MVFW took place from 24 to 27 March 2022. The show returned this year and was held from 28 to 31 March.  

## Metaverse Fashion Week 2023 (MVFW23) 

This year the MVFW event was primarily hosted by Decentraland. But since the organisers focused on interoperability, it also featured on two other Metaverses; Spatial and Over. The first one is a Metaverse platform specifically built for brands, where they can sell their products in a creative way. The second is an innovative decentralised Metaverse layer. It allows you to work with augmented reality to display objects in the physical world. 

The fashion week featured all the renowned brands like Coach, Tommy Hilfiger, Adidas, Dolce & Gabbana, Balenciaga, and others. The four days were packed with various runway shows, parties, and panel discussions. Aside from that, there were other fun events like theatres, guided tours, yoga sessions, fashion operas, exhibitions, and whatnot. According to Decentraland, there were more than 120 events in the week.  

The map of the event featured a new architecture named Neo Plaza, from where you could begin exploring different events in MVFW. It included virtual stores of all the brands that participated in the event. All the catwalk shows took place in the Luxury District. 

## Highlights from the MVFW23  

Here are some of the major highlights from Decentraland's virtual fashion show: 

- Metaverse interoperability was a first at the event, showing how multiple Metaverses can offer similar experiences simultaneously. However, it did not allow the users to go from one platform to another with the same avatar.  

- Around 26,000 users attended the MVFW23 event, as per Decentraland. The firm also claimed that around 50% of these users entered its Metaverse for the first time. 

- Neo Plaza was a new addition to this year's event, and users could enjoy a guided tour of the Plaza to explore the virtual spaces and experiences from different brands. 

- You can shop digital assets from the DCL Marketplace through your debit/credit card via Tansak.  

- More than 60 global brands participated in the MVFW23 and created numerous interactive experiences for their customers. 

- Decentraland also claimed that during the span of the event, around 72,000 sessions were logged in.  

- The virtual fashion week featured the first opera show in a 3D virtual world. 

## Decentraland users’ lack of interest in the MVFW23 

Even though the event was quite successful for the brands as they created innovative spaces, games, and experiences to engage with their customers. However, the number of users who joined the event was much lower compared to last year.  

A Metaverse analytical firm, GEEIQ, studied that the number of users dropped massively this year by 92%. According to the firm, only 9,000 unique users entered Decentraland's MVFW23. However, in 2022 a total of 108,000 users explored the events. One of the prominent reasons behind it is the declining hype for Metaverse.  

In March 2022, more people were intrigued by Meta’s idea of a digital world. But now the dynamics are different as Meta and other Metaverse companies have not had any significant breakthroughs. Besides, a new tech trend, AI, has stolen the limelight from Metaverse in 2023. Therefore, the masses are not as involved in 3D worlds as before. 

## Final thoughts 

Decentraland’s MVFW is an innovative annual festival for global fashionistas. It offers leading brands a platform to showcase their digital assets in an intriguing way. It also allows them to enhance customer experiences by offering immersive shopping stores and many fun activities.  

In 2023, Metaverse Fashion Week introduced unique features like interoperability, distinctive architectures, and special events. These features can be the stepping stones for the future of Metaverses and the fashion industry. 

Pink metaverse fashion week website and model

Exploring the Metaverse Fashion Week 2023 

Tom Brady, a beloved US National Football League (NFL) figure, has found himself entangled in a significant financial predicament. Recently, documents related to the [FTX bankruptcy case ](/news/article/ftx-bankrupt-who-to-blame)revealed that Brady had invested substantial funds in the now-collapsed crypto exchange. Unfortunately, these funds have now become nearly worthless following the bankruptcy filing. 

Various media outlets, including The Insider and Bloomberg, have reported that Tom Brady held approximately 1.1 million FTX shares. Additionally, reports indicate that Gisele Bündchen, Brady's former wife and a renowned supermodel, also had a significant investment, owning approximately 680,000 shares in the exchange. 

This article explores the journey of Tom Brady, once an ambassador for FTX, and how he lost a considerable number of shares in the exchange. We will also assess the potential for the recovery of these funds. 

## Tom Brady FTX affiliations 

Since 2021, former NFL player Brady has served as the ambassador for the now-insolvent crypto exchange FTX. His ex-wife, Gisele Bündchen, has also been associated with the company. Together, they have participated in various [advertising campaigns promoting FTX services,](https://web.archive.org/web/20230111152240/https:/www.youtube.com/watch?v=_aCGMyrFn-8&t=55s) which have faced significant criticism from the crypto community. 

![FTX Tweet screenshot from 2021. Shows Tom Brady and his wife and announces they are to be FTX ambassadors. ](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_17_at_09_34_48_5f7d387508.png)

Investors hold the couple responsible for intentionally encouraging people to invest in the crypto firm, leading to a lawsuit, as reported by [Business Insider](https://markets.businessinsider.com/news/currencies/tom-brady-shaquille-o-neal-golden-state-warriors-ftx-lawsuit-2023-5). The lawsuit was filed in November 2022 and included several other prominent figures from the sports and entertainment industries. 

On May 11, 2023, an amended complaint was filed in the Florida District Court. Reports suggest that Dan Friedberg, the former chief compliance officer of FTX exchange, is cooperating with the lawyers and providing valuable information regarding the FTX promotional campaigns. Friedberg's involvement indicates that a substantial portion of the campaigning occurred in Florida. 

Initially, some defendants claimed that the promotional activities were unrelated to Florida. However, with Friedberg's statement, the class action lawyers now have evidence to challenge the defendants' claims. Currently, the legal proceedings for the case are underway in the Florida District Court. 

## Can Tom Brady FTX shares be recovered? 

Brady and his former wife, Bündchen, possessed a combined total of approximately two million devalued shares. Before the [collapse of FTX](/news/article/ftx-collapse-blockfi-suspend-withdrawals), these shares held a considerable value in the millions. Forbes estimated Brady's claims to be [worth around $45 million](https://www.forbes.com/sites/chasewithorn/2022/11/10/exclusive-these-investors-stand-to-lose-the-most-from-ftxs-implosion/?sh=39ec68862670) and Bündchen's shares to be approximately $25 million. However, as [Sam Bankman-Fried](/news/article/former-ftx-ceo-sbf-arrested)'s firm faced mounting losses, the value of these shares plummeted. 

Currently, the chances of stakeholders fully recovering their funds are improbable. The downfall of FTX resulted in a loss of approximately $32 billion, with only [$7.3 billion](https://www.reuters.com/technology/bankrupt-crypto-exchange-ftx-has-recovered-73-bln-assets-attorney-2023-04-12/) having been recovered thus far. Given this significant disparity, it is unrealistic to expect all stakeholders to be able to [retrieve their assets](/news/article/ftx-news-assets-recovered). 

## Other celebrities who lost funds in the FTX collapse 

Brady and Bündchen are not the only high-profile individuals involved with [Sam Bankman-Fried's bankrupt exchange](/news/article/sam-bankman-fried-lost-billions). A roster of celebrities from the sports and entertainment worlds became investors in the company prior to its insolvency. Notably, Robert Kraft, the owner of the New England Patriots, held approximately 630,000 common shares in the firm. 

The sports industry features other notable names, including Golden State Warrior's basketball player Stephen Curry, former NBA player Shaquille O'Neal, baseball player David Ortiz, and tennis player Naomi Osaka. 

In addition to sports personalities, the list of celebrities affected by FTX's collapse includes renowned comedian Larry David, entrepreneur Kevin O'Leary, and numerous others. 

## Final words 

Tom Brady, a legendary NFL player with seven Super Bowl championships under his belt, made headlines when he joined the FTX crypto exchange as an ambassador in 2021. Alongside his then-wife, Gisele Bündchen, Brady actively promoted the exchange's services. 

Not only did he lend his influence, but he also made significant investments in the form of 1.1 million common shares, valued at a staggering $45 million. 

Unfortunately, as the exchange encountered insolvency, the value of these shares plummeted, putting Brady's substantial investment at risk of significant loss. Brady is now facing a lawsuit about his promotion of FTX services, further complicating his involvement with the exchange. 

red image of Tom Brady from the NFL looking confused with FTX app on a phone

Tom Brady FTX ambassador may lose 1.1m shares

Tectonic, a cryptocurrency lending and borrowing DeFi platform, was launched in 2021. Operating as a market protocol, users can borrow and lend digital assets while earning high yields. The platform's protocol is built on the [Cronos blockchain](https://cronos.org/), a project developed by Crypto.com, one of the leading exchanges.  

Over the past two years, the project and its native token have garnered significant attention in the market. If you are contemplating whether Tectonic crypto suits your needs, this article is tailored for you. 

## What is Tectonic crypto (TONIC)? 

TONIC serves as the native token of the [Tectonic](https://tectonic.finance/) DeFi platform and is pivotal in facilitating instant loans. As a CRC20 token, it governs various protocol aspects, encompassing network security and maintenance. Moreover, the lending platform utilises TONIC tokens to incentivize users, with a portion allocated to the project team. 

Acquiring TONIC tokens is possible through several avenues, which include: 

- By participating as a lender or borrower on Tectonic, you have the opportunity to earn TONIC tokens as liquidity incentives. 

- Users can generate revenue via the protocol by staking TONIC tokens to obtain xTonic. 

- Tectonic offers a Vault feature where you can lock your tokens and earn rewards in return. 

- TONIC tokens can be purchased from various exchanges, [such as Hotbit](/news/article/hotbit-exchange-get-started), Crypto.com, or VVS Finance, where they are listed for trading. 

## Tectonic crypto tokenomics 

The Tectonic money market has introduced a total of 500 trillion TONIC tokens. According to [CoinMarketCap](https://coinmarketcap.com/currencies/tectonic/), there are currently 224,918,813,284,285 TONIC tokens circulating in the market, with a [market capitalization](/news/article/what-is-market-cap-cryptocurrency) of $34 million. It's important to note that the project reported this data and it has not been independently verified. 

The 500 trillion tokens are distributed among various categories by the project developers. The largest portion, accounting for 50.9%, is allocated as incentives for community members participating in staking and liquidity mining. The second largest segment, comprising 23%, is reserved for the project's team. 

Furthermore, 13% of the tokens are designated for ecosystem reserves, which will be used for developmental initiatives within the ecosystem. Another 13% is allocated for network security and maintenance. Finally, 0.1% is set aside for TONIC token airdrops. 

## Is Tectonic crypto legit? 

Tectonic crypto demonstrates legitimacy through its development as a fork of the reputable Compound protocol, renowned for its strong security measures. 

The project has undergone audits by leading blockchain security auditors, including [Slowmist](https://www.slowmist.com/) and [BlockSec](https://blocksec.com/), ensuring the integrity of its smart contract and operating model. The most recent audit report was published in April 2023. 

In addition to prioritising smart contract security, the project developers are also working towards introducing an insurance fund. To facilitate this, 10% of the interest paid by borrowers will be allocated to the fund. The purpose of this fund is to provide coverage for defaulted loans when the collateral is insufficient. These measures indicate that Tectonic crypto is operating legitimately. 

However, there are a few aspects that raise concerns among investors. Firstly, there is the issue of unverifiable data, including figures such as market capitalization and circulating supply. Secondly, Tectonic is an unregulated asset only available on limited exchanges. As a result, investments in Tectonic carry a high level of risk. 

## Tectonic crypto price prediction 

According to price forecasts provided by CoinCodex, the sentiment for the TONIC crypto is currently bearish, with a neutral fear and greed index. The prediction suggests that the price of TONIC may drop to $0.00000008539 in the next month, representing a decline of over 44%. CoinCodex analytics indicate that more than 24 technical analysis indicators show bearish signals, while only 6 indicate bullishness. 

Looking at long-term price predictions, [DigitalCoinPrice](https://digitalcoinprice.com/forecast/tectonic) forecasts that the coin will average around $0.000000327 throughout 2023. The highest projected price for the crypto is anticipated to be $0.000000332, with a potential lowest value of $0.000000136. 

Predictions for 2025 suggest that the coin's price may increase to $0.000000520, with a maximum potential of $0.000000556. The projected minimum value for TONIC in 2025 is $0.000000450. 

If we consider the growth of TONIC until 2030, the forecast from DigitalCoinPrice suggests it may reach up to $0.00000158. The average price is expected to be $0.00000154, with a potential minimum value of $0.00000148. 

## Is there a future for Tectonic crypto? 

Tectonic is a relatively new DeFi project still in its early stages. Unfortunately, current price predictions and market trends paint a discouraging picture. The price of TONIC is currently below its 200-day and 50-day simple moving averages, indicating a bearish trend. Forecasts suggest a significant 44% price decline in the next month. Looking ahead to 2030, it is doubtful that the coin will reach a value of 1 cent.  

Several factors contribute to the coin's low price and lack of demand. The absence of a clearly defined utility for the token limits investor interest. Additionally, the need for verified data and numerous underdeveloped features raise suspicions about the project.  

Given the decline in trust within the cryptocurrency lending industry following the Celsius network's downfall, investing in TONIC remains risky unless the project developers address these issues. 

Tectonic logo on green image of tectonic plate

Tectonic crypto: Is it a good investment? 

For those involved in non-fungible token (NFT) trading, understanding the value of an NFT index is crucial. An indexer platform serves as a valuable tool for tracking NFT projects and identifying high-potential tokens. 

Think of them as comprehensive databases that conveniently locate tokens across different blockchains. 

If you're interested in exploring top NFT indexer options in the market, you've landed on the right page. This article aims to provide insights into the benefits of NFT indexers and showcase some of the industry's leading choices. 

## What is an NFT indexer? 

An NFT indexer functions similarly to a cryptocurrency tracking platform but focuses on non-fungible tokens. It provides key metrics related to NFTs, such as metadata, contracts, token IDs, ownership details, and transaction history. 

By scanning various blockchains that support digital collectables, the indexer collects and stores this information in a database. It then organises the data in a user-friendly way, enabling users to easily access and navigate the NFT market. 

Whether you're a collector, investor, or developer, an NFT indexer can be a valuable tool. It offers features like searching, filtering, and sorting, facilitating the discovery of valuable NFTs. Additionally, it provides insights into the broader NFT market, empowering users to make informed decisions. 

Moreover, indexers may offer additional services like portfolio tracking, valuation estimates, and monitoring historical sales data. These features contribute to market insights and support traders in their growth. 

Overall, an NFT indexer simplifies non-fungible token adoption by streamlining the analysis and research process, ultimately making it easier for users to navigate and engage with the NFT market. 

## Benefits of an NFT indexer 

Here are the three prominent benefits of using indexers: 

- An indexer can help you track your NFT collection by storing essential information such as market value, ownership history, and metadata. This provides valuable insights for trading and portfolio management. 

- Indexers can identify undervalued NFTs, making it easier for you to evaluate different tokens and spot those with high potential. 

- It enables you to Build applications that interact with NFTs, including marketplaces, games, and wallets.  

Popular NFT indexers available in the market 

Now let's look at the four popular digital collectable indexers available. 

### OpenSea 

[OpenSea](/news/article/largest-nft-marketplace-2023), the largest digital collectables marketplace, offers robust indexing to monitor and track all listed assets. This enables convenient evaluation of projects and assets in one place. Not limited to collectors and investors, developers can leverage OpenSea's indexing to create interactive apps like marketplaces, games, and Web3 wallets. 

### Rarible Indexer 

Rarible is recognised as one of the [premier NFT marketplaces.](/news/article/guide-to-best-nft-marketplaces) It offers a powerful multichain indexer that seamlessly integrates with the Multichain SDK API, enabling data storage from various blockchains. This indexer effectively records necessary NFT actions, including minting, burning, transfers, and other related activities. 

### Unmarshal 

[Unmarshal](https://unmarshal.io/) stands out as a distinctive addition among existing indexers by claiming to introduce "the world's first decentralised indexer". This platform empowers users to develop their DeFi projects and join the Unmarshal ecosystem. Additionally, participants can earn rewards through the platform's staking program.   

### NFTPort 

[NFTPort](https://www.nftport.xyz/) is another platform that offers comprehensive infrastructure and APIs for deploying smart contracts for NFTs. Along with its indexing feature, it enables users to track a token's history, current value, burn, mint, and other related details. Additionally, it provides access to aggregate data from OpenSea, simplifying the process of launching new collections. 

### Final thoughts 

Indexing plays a crucial role in the trading of non-fungible tokens. It allows art collectors and investors to get critical information that may inform your investment decisions. In addition, you can also find undervalued projects or assets that may prove to be profitable.  

There are numerous options available in the market for Indexers that may assist you in trading. Among them, OpenSea, Rarible, Unmarshal, and NFTPort can be ideal choices as they also offer various tools for developers. 

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Author: Wasay Ali

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