VR Platform High Fidelity to сreate Virtual World on EOS

Virtual reality platform High Fidelity hopes that using blockchain they can reach an audience of a billion people and have raised $35 million to do so
29 June 2018   327

During Series D fundraising round a $20 million investment by Mike Novogratz’s Galaxy EOS Ecosystem Fund was gained. Also there were attracted such existing investors such as Breyer Capital, IDG Capital Partners and Vulcan Capital. 

The CEO of High Fidelity, Philip Rosedale is also known as the creator of the highly popular virtual world Second Life. He is creating a blockchain infrastructure to back a billion VR customers and has already constructed a native cryptocurrency and digital-asset registry.

The High Fidelity platform is currently in beta, so it has been partly launched. The headsets that will really take us into the big consumer market are not available just yet. A lot of our early focus is on location-based facilities.
Philip Rosedale,
CEO, High Fidelity

In the virtual reality, the users will access tokens regulated by a tablet-like device to purchase goods licensed by real-world merchants. Rosedale provides the scenario of a person wanting to look cool in VR acquiring a pair of Rayban sunglasses. The purchase and virtual sunglasses would then be recorded by the merchant on the EOS blockchain platform. 

The head of strategic partnerships (Galaxy Digital), Sam Englebardt claimed on the matter: 

It’s a global phenomenon that fundamentally requires a trustless consensus mechanism for currency, property and identity.
Sam Englebardt
Head of Strategic Partnerships, Galaxy Digital 

High Fidelity is aimed to enter in the Metaverse or the universe of virtual reality worlds. Rosedale ran Second Life in 2003, and this gave birth to a cryptocurrency named Linden dollars. That produced above $4 billion globally in virtual transactions. For the new virtual world, he will use blockchain to create a token called High Fidelity Coin. It is a stable coin paired to the US dollar,  the digital money will be needed to apply the VR platform.

Ex S&P President to Invest in iComply Startup

The startup is aimed at developing tools and services to meet the regulative standards for blockchain start-ups
14 August 2018   117

Startup iComply, working in the field of regulatory technologies and compliance with standards, has just completed the initial round of financing, which was headed by former Standard & Poor CEO Deven Sharma, CoinDesk reports.

IComply, aimed at developing tools and services to meet the regulative standards for blockchain start-ups (especially for those that conduct ICO), said on Monday that it attracted a seven-figure sum during this invest-round, but did not say the exact figure. The round was also attended by DMG Blockchain and Block X Capital.

In addition, iComply reported that it was joined by former employee of the Commodity Futures Trading Commission (CFTC) Jeff Bandman, former Managing Director of NASDAQ and the Financial Services Industry Regulation Service (FINRA) Manny Alikandro, MIT Connection Science program member, Praveen Mandal and Prosecutor Thomas Linder.

According to Sharma, he decided to invest in the startup iComply, because the project "is focused on services for ICOs related to risks and compliance with standards." Compliance with the standards, he said, will ensure the transparency of ICO issuers and thereby help to ease the concerns of regulators.

Sharma also believes that iComply can contribute to the spread of crypto technologies, helping the entry of traditional financial services into this industry.

My interest is to see iComply evolve into a benchmark that investors can use to assess credibility of issuers, sustainability of underlying services and the price of ICOs. iComply's patent-pending software enables both security and utility tokens to monitor and document compliance, governance and risk procedures, before a public blockchain executes an immutable trade, providing trust, integrity and transparency for our clients. There have been a few ICOs that had a fundamentally robust offering that I understood and did interest me [but I] missed the opportunity. Others that have transparency from a service like iComply, I would [invest in].
 

Deven Sharma

Ex-president, Standarts & Poors

It is the ideas of transparency and trust, according to Sharma, that sparked his interest in order to start working with the blockbuster.