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Davos 2023: NAX Is Boosting Carbon Removal Functions, Shaking Up The Art Industry - AXA (OTC:AXAHY), BMW (OTC:BMWYY)
Game-Changing DeFi Partnership: NAX + Algorand + SkyBridge Capital = UNLOX
SkyBridge Partners with NAX to Offer Algorand-based Platform. Algorand currently has more than 30,000 developers and about 800 organizations building on it.
SkyBridge Partners with NAX to Offer Algorand-based Platform. A competitor of Ethereum and other growing layer-1 protocols such as Solana, Cardano and Avalanche, Algorand currently has more than 30,000 developers and about 800 organizations building on it.
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What they’re referring to here is that Robinhood and Venmo are the ones who actually control the bitcoin that is earmarked for you on your account with those companies. They have Bitcoin wallets created, and those wallets hold a lot of Bitcoin for their customers. You paid them money, and they bought Bitcoin, but not in any way that truly makes it yours. In essence, you own an IOU from these companies. If those companies evaporated tomorrow, you’d have no immediate recourse to get your bitcoin back. In an ideal setting, you’d 1) research “self custody of bitcoin” and 2) set up your own wallet, securely generating your own private key (also called a seed phrase) in the form of 12 or 24 words. Then you’d 3) move your bitcoin off of Venmo or Robinhood, sending it to addresses generated by your wallet. That way, it doesn’t matter what those companies do, your bitcoin is independently secured. As you save more money, you can then look into 4) more advanced ways to secure it (like using physical hardware signers or multi signature setups), but when you’re just starting out, learn the basics of self custody and simply start getting your bitcoin out of the casino/exchange. Mentioning an external hard drive makes me wonder if you’ve got a strong grasp on how the network actually works, but put it simply, Bitcoin isn’t a file that you store on a hard drive. What you may be thinking of is way back in the early days, people stored their private keys in wallet files on their computers. But now, your entire wallet can be managed just by securing 12-24 words that make up your seed phrase. BTC Sessions has good, simple tutorial videos: https://youtu.be/z3n1uZrNvXo?si=C_Ae3z7NAX5D5fxQ
tldr; NAX CEO Jeff Schumacher is the founder and CEO of the New Asset Exchange (NAX). NAX creates products from corporate datasets and places these products in different markets. NAX is working with the likes of Axa SA, one of the largest insurers of arts in the world, to create an art-backed security that looks and trades like mortgage-backed securities. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
What is UNLOX? UNLOX is a partnership between NAX(New Asset Exchange), Algorand, and Skybridge/FTX. What are each party bringing? Algorand gives a fit for purpose institutional grade decentralized finance protocol. They looked at A LOT of protocols before picking Algorand. It was picked because its 1) never gone down, 2) it can process transactions similar to what visa can do, 3) it's carbon negative, and 4) it's focused predominantly on financial aspects. NAX brings the volume through its corporate members. Skybridge/FTX brings the distribution. 
tldr; SkyBridge Capital and NAX are launching an initiative using layer-1 protocol Algorand. UNLOX will be a platform for institutions to securitize their assets on the blockchain. SkyBridge is a $7 billion alternative asset manager with more than $600 million in crypto assets. NAX creates new markets and ecosystems around corporate assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Dude there was an update from NAX at the SALT conference just yesterday. Why post a year old article?
SkyBridge Capital founder Anthony Scaramucci says one Ethereum competitor is well-equipped to power complex use cases in the real world. In a new interview with Real Vision, the hedge fund veteran says the decentralized blockchain network Algorand (ALGO) could breathe new life into the consumer goods sector. Scaramucci explains, “If you’re flying American or Delta, you’re accruing miles. You may or may not be using them. They’re on Delta’s balance sheet marked as a liability. And for whatever reason, you’re not using them, but you can’t unlock them. What if we created a coin that could take those miles out of your account in exchange for this coin? Then this coin had some universality to it where you could buy groceries, or you could buy something [else]. What would be the best blockchain to use for something like that? In my opinion, it would be Algorand.” Last month, SkyBridge joined the NAX trading platform to form a new partnership called UNLOX. Scaramucci says the new venture will work with ALGO while pursuing investments in traditional financial services as well as art and other alternative assets. “We’re identifying assets that have typically been locked, and we’re unlocking them. I said I want to raise a fund, an ALGO-based fund that participates. We’ve raised $100 million so far, capping the fund at $250 million. I’ve got a Bitcoin [BTC] fund. I have an Ethereum [ETH] fund. And we will soon have an ALGO fund. And I think those are three major blockchains, cryptocurrencies that are going to win and design the future.”
tldr; SkyBridge Capital's Anthony Scaramucci is stepping up his firm's move into the cryptocurrency world. The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. The group will focus on decentralized finance efforts associated with digital currencies like bitcoin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; NAX and SkyBridge Capital have announced a partnership to provide an array of Algorand-based services, digital applications and institutional investment opportunities across North America and the Middle East. UNLOX, with SkyBridge's Anthony Scaramucci as its chairman, will become a core infrastructure to launch at-scale DeFi ventures, capital raising, and a platform for institutions to securitize their assets over the blockchain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; SkyBridge Capital's Anthony Scaramucci has announced a new partnership with NAX and high-speed blockchain project Algorand. The fund would focus on a series of decentralized finance efforts associated with digital currencies, such as Bitcoin. NAX CEO Jeff Schumacher described the platform as "feature-rich, high-performance platform" *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> Scaramucci's SkyBridge has secured a new partnership, that would speed up its move into the crypto industry. >As part of efforts aimed at expanding its growing dive into the crypto world, SkyBridge Capital’s Anthony Scaramucci has secured a new blockchain partnership with trading platform NAX and high-speed blockchain project Algorand. Not biased at all
tldr; SkyBridge Capital and NAX are launching an initiative using layer-1 protocol Algorand. UNLOX will be a platform for institutions to securitize their assets on the blockchain. SkyBridge is a $7 billion alternative asset manager with more than $600 million in crypto assets. NAX creates new markets and ecosystems around corporate assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
A new partnership between SkyBridge Capital and NAX is set to offer decentralized applications and institutional investment opportunities as part of an initiative using layer-1 protocol Algorand. The alliance will start with a fund between SkyBridge, NAX, and Algorand and an initiative called UNLOX. The fund, to be capped at $250 million, will seek to provide institutions with access to unique decentralized finance opportunities. UNLOX will initially comprise a buy now pay later, or BNPL, solution, a digital asset wallet and commerce engine, and a collateralized art lending and fractionalization platform, the firms said in a release. NAX estimates that these will augment the user base of Algorand, which will be the protocol of UNLOX, with millions of new wallets by 2023.
tldr; Anthony Scaramucci’s SkyBridge Capital has partnered with NAX and Algorand to raise $250 million through a series of fundraising events. The plan is to develop a fund called UNLOX, which will focus on numerous decentralized finance (DeFi) endeavors. It will also promote blockchain and its merits to institutions to increase their engagement and usage. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; NAX and SkyBridge Capital have announced a partnership to provide an array of Algorand-based services, digital applications and institutional investment opportunities across North America and the Middle East. UNLOX, with SkyBridge's Anthony Scaramucci as its chairman, will become a core infrastructure to launch at-scale DeFi ventures, capital raising, and a platform for institutions to securitize their assets over the blockchain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
TLDR: SkyBridge Capital's Anthony Scaramucci is stepping up his firm's move into the cryptocurrency world, announcing on Monday a partnership aimed at expanding into the blockchain universe. The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. Using a fund that will be known as UNLOX, with Scaramucci as its chairman, the group will focus on a variety of decentralized finance efforts associated with digital currencies like bitcoin. Blockchain is the database infrastructure around which the cryptocurrency world is built. UNLOX will target institutions to use blockchain to securitize assets such as property, corporate securities and venture capital. The group will also target the nascent push into nonfungible tokens and other alt assets. The blockchain operation of Algorand will be the crypto base for the partnership, while NAX will provide commercial support and SkyBridge will be the institutional base for the fund. Algorand uses what it describes as a "carbon-negative" operation, in contrast to much of the crypto industry that is energy-intensive due to the sophisticated computer networks needed.
tldr; SkyBridge Capital's Anthony Scaramucci is stepping up his firm's move into the cryptocurrency world. The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. The group will focus on decentralized finance efforts associated with digital currencies like bitcoin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*