New UNLOX initiatives to bring business value and millions of participants to the frictionless economy on Algorand
UNLOX today announced the launch of five new marketplaces for the future of finance as the organization seeks to exponentially increase blockchain adoption in the enterprise sector.
MIAMI, November 29, 2021 (GLOBE NEWSWIRE) – In partnership with NAX and Skybridge, UNLOX leverages the Algorand blockchain to seamlessly integrate more modern models into large organizations, enabling frictionless experiences for businesses and their customers .
The first two markets are leveraging the scale of one of the world’s leading manufacturers / retailers to introduce a unique buy it now, pay later platform that harnesses the power of Algorand to create credit NFTs consumption and an exchange of guarantees. which symbolizes the excess risk passing through the captive insurance company of the manufacturer. These two companies will bring millions of customers, transaction volume and value to the chain.
For the third, UNLOX has partnered with one of the world’s largest art insurers to securitize assets for lending, splitting and trading. It is estimated that this company will have a lower number of participants and a lower transaction volume; However, chain value will be significant with high value artistic assets represented on Algorand’s blockchain.
The Fourth Marketplace is a digital asset trading and trading engine that will create fungibility between cryptocurrencies, loyalty points, rewards, and fiat currencies to help consumers maximize purchasing power, visibility of the wealth and value of their digital assets. This market is expected to attract tens of millions of on-chain users with a transaction volume of several hundred million.
The Fifth Marketplace, in partnership with Spin Magazine, features NFT’s selection of Spin’s most iconic photographs and covers. The first NFT auction is scheduled for early 2022 and the market will ultimately serve primary and secondary sales.
“Building our NFT Music, Media and Collectibles Marketplace with NAX on Algorand was an easy decision. The industry needs to bring together millions of fans in the NFT world. We’re excited to launch the market soon and create something really special for music fans, ”said Jimmy Hutcheson, CEO of Spin Magazine.
In September, Algorand, NAX and SkyBridge unveiled UNLOX at SkyBridge’s annual SALT conference in New York City. This revolutionary initiative accelerates the growth of decentralized applications on Algorand. With Anthony Scaramucci as chairman, the group is focusing on a variety of decentralized financial efforts associated with digital currencies.
NAX creates new markets and ecosystems around business assets. From seed to securitization, the company co-directs the marketing of these initiatives with its partners. NAX is headquartered in Manhattan Beach, California, and has offices in Palo Alto, New York, London, Paris, Zurich, and Frankfurt. For more information, www.naxgrp.com.
SkyBridge is a global alternative investment manager providing a range of investment solutions to individuals and institutions. Addressing all types of market participants, SkyBridge’s investment offerings include blended hedge fund products, custom segregated portfolios of accounts, hedge fund advisory services and a focused opportunities area. on non-traded REITs. The company is headquartered in New York. For more information, www.skybridge.com.
Algorand is building the technology to power everything from the creative economy to the convergence of traditional and decentralized finance. Founded by Turing Prize-winning cryptographer Silvio Micali, Algorand has developed a blockchain infrastructure that provides interoperability and the ability to handle the volume of transactions needed for anyone to transition to the new digital economy. The primary decentralized infrastructure of choice for visionary leaders in more than 1,000 global organizations, Algorand enables the simple creation of next-generation financial products, protocols and value exchange. For more information, www.algorand.com.
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