Easy Company Raises $14.2M For Social Crypto Wallet

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The “social” cryptocurrency wallet developed by The Easy Company, a company whose primary focus is the development of a consumer layer for the decentralized web, has received a seed round investment of $14.2 million. This wallet’s primary objective is to facilitate the incorporation of more general audiences into the Web3 ecosystem.

According to TechCrunch, the first investment round was comprised of participation from a diverse group of investors. These investors included Lobby Capital, Relay Ventures, and 6th Man Ventures, as well as Tapestry, Upside, and Scribble. Other investors included Lobby Capital, Relay Ventures, and 6th Man Ventures.

Angel investors who had experience in traditional social media as well as Web3 participated in the round as well. Among these investors were former executives from companies such as Instagram, Novi, Airbnb, Twitter, Uber, OpenTable, and Eventbrite.

It is said that the wallet has entered the public testing phase and is now available for both iOS and Android after going through a period of thirty days during which it was tested in secret.

Mike Dougherty, the Chief Executive Officer of Easy, has stated that the company’s mission is to integrate compelling social elements with user-curated profiles so that anyone can search, browse, and discover the world of Web3 on their own.

The presentation that Dougherty gave, a significant number of the products and services that are currently being provided by Web3 companies are far too complicated for the typical person to be able to make use of them. The mission of the company is to make it easier for customers to interact with Web3 and use digital wallets by streamlining these processes.

The platform has a structure that is comparable to that of social media applications like Instagram, in which users may swipe to see either their own NFTs or those of others they watch, similar to how Instagram Stories are shown. In addition, it is said that the platform features a user interface that is comparable to that of social media applications like Instagram.

Despite the fact that the crypto winter has persisted for such a significant amount of time, venture capitalists continue to provide significant investment for Web3 companies.

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Cointelegraph has launched an Accelerator program for innovative Web3 startups

New York, United States, 10th January, 2023, Chainwire

The program aims to help Web3’s rising stars boost their media presence, community growth and brand awareness in exchange for project tokens.

The Web3 space is growing rapidly and new startups are emerging daily, with investment into Web3 projects skyrocketing to $30 billion in 2021 and around $36 billion in 2022.

While many Web3 founders have great ideas and a strong value proposition to bring to the space, this is a challenging field riddled with competition and a lack of trust from the broader audience.

Founded in 2013, Cointelegraph has grown to become a world leader in the digital assets, metaverse and emerging technologies media space, with over 20 million readers worldwide. 

The company is now looking to help other rising stars reach their full potential and is delighted to introduce its Accelerator program — a startup booster leveraging the company’s capabilities as a strong media and strategic partner, including content, branding, network, marketing, investor relations and much more.

What is the Cointelegraph Accelerator program?

Cointelegraph Accelerator will leverage the expertise of the global Cointelegraph team, which consists of over 150 professionals working across and developing global media products in 11 different languages.

The program focuses on decentralized finance, nonfungible tokens, GameFi, Web3 social, cross-chain and layer 2 solutions, as well as other segments of the broader Web3 industry. It has already onboarded over a dozen companies and publicly opened the application process for new candidates. 

While many accelerator programs focus on advisory, followed by monetary investments, Cointelegraph takes a different route. Participants will be able to receive contributions from Cointelegraph in the form of media products available in our ecosystem including advertorials, individually tailored special projects, educational materials, native content integrations and much more. 

One of the program’s key features is that it will be run by a separate commercial arm independent of Cointelegraph’s editorial team. Startups will be able to participate in the program in exchange for their projects’ native tokens or equity, subject to specific conditions. By doing so, Cointelegraph will align its interest in the project’s success and growth in token value with supported teams.

Strategic support in the program will typically run from nine to 24 months and will be based on the participating startup’s roadmap milestones, marketing and strategic goals. With long-term success in mind, Cointelegraph will leverage its vast partner network to offer a comprehensive, 360-degree marketing strategy to support the program’s portfolio of projects. 

This support comes in various shapes and forms, depending on each individual project’s needs. Cointelegraph can offer support in marketing, branding and introductions to investors, exchanges, mentors, market makers, technological partners and online and offline events.

Paul Solntsev, Head of Cointelegraph Accelerator, said: “We are excited to expand our product suite with the Accelerator program, bringing more knowledge and education to our worldwide audience, especially regarding emerging tech startups and evolutions in Web3.”

Paul continued: “We welcome companies with strong convictions and innovative projects to apply for the program and join our partner network to bring long-lasting value to the industry.”

How to participate 

Cointelegraph is looking to support projects in their early stages of development that have already designed a product ready for market, usually between pre-seed and Series A stage. A well-outlined roadmap and project documentation with clearly defined utility for the token are also required.

To become part of the Cointelegraph Accelerator program, projects should visit the official Accelerator program website, where they can familiarize themselves with Cointelegraphs offers as a recognized media leader and brand establishment partner. From there, they can also apply.


For more information or additional comment, please contact:

accelerate@cointelegraph.com 

Contact

Alexandra Kay
alexandra.kay@cointelegraph.com

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ISPs Must Ban Crypto Websites Or Risk Legal Action In Nepal

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The government agency in Nepal that is in charge of regulating telecommunications has issued a directive to the country’s internet service providers (ISPs), demanding that they ban any websites that facilitate the trading of cryptocurrencies and threatening legal action against ISPs who do not comply with the directive.

The Nepal Telecommunication Authority (NTA) issued a notification on January 8 instructing Internet service providers (ISPs) and email service providers to restrict access to websites, applications, or online networks that are associated with cryptocurrencies.

It was stated that recent days have seen an increase in the number of transactions utilizing virtual currencies, and it was reiterated that it is against the law to conduct cryptocurrency transactions within the borders of the country.

The Nepal Rastra Bank (NRB), which operates as the country’s central bank, issued a notification in September 2021 declaring that mining cryptocurrencies and engaging in cryptocurrency trade were illegal activities.

One example of such behavior would be encouraging or assisting other people in engaging in illegal activity, which is against the law.

In the notification that was distributed in April, it stated that legal action would be taken if it was discovered that someone had been engaging in crypto-related activities. However, the notification did not call for a restriction on access to crypto services at that time.

A survey that was conducted and released in September by the blockchain analytics company Chainalysis indicated that developing nations, including Nepal, are leading the way in the worldwide adoption of cryptocurrencies. This is the case in spite of the fact that the use of cryptocurrencies is prohibited in Nepal.

Nepal is now ranked higher than the United Kingdom and among the top 20 countries in the world as a direct result of the country’s widespread adoption of cryptocurrency.

Research that was conducted in November 2021 and published by the Law Library of Congress suggests that Nepal is one of only nine countries in the world that has completely prohibited the use of cryptocurrencies.

A number of nations, including China, Algeria, Bangladesh, Egypt, Iraq, Morocco, Qatar, and Tunisia, have passed legislation that makes the use of cryptocurrencies illegal.

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