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How Venture Capital Cooperation Is Going to Change The Future Of Ontology (ONT)

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Ontology

Ontology (ONT) is one of the most recent entries in the crypto-world. After conducting a successful airdrop as an initial coin offering in early 2018 and raising a significant amount of money, Ontology was finally tokenized on 8th March 2018. For a cryptocurrency that had been introduced just about a month ago, acquiring a decent market capitalization as well as token price is a Herculean task. But this cryptocurrency seems to do that job quite easily as it currently holds the 21st position on the Coinmarketcap list where nearly 1600 different cryptocurrencies are listed currently. Moreover, Ontology’s development team are incessantly making major upgrades in its blockchain system to make this currency even more convenient for the traders all around the world. Here, a few aspects of this coin and the effect of Ontology’s recent venture capital cooperation will be discussed for the new ONT investors.

A Brief Overview:

Ontology is a unique combination of distributed trust collaboration platform and a highly efficient public blockchain project. The ONT blockchain system consists of a series of distributed ledgers along with smart contracts. The platform is capable of customizing different public blockchains for various applications. The technology of this digital currency is predominantly based on the collaboration amongst the chain networks with their respective protocol groups. For various kinds of distributed scenarios, ONT offers common modules on the underlying infrastructure.

This efficient blockchain system is one of the many reasons why this currency has gained such popularity within such a short period time.

The Cooperation with Venture Capital Firms:

On 4th April 2018, the team behind Ontology announced its cooperation with four major venture capital firms namely Sequoia China, Matrix Partners China, Danhua Capital (DHVC), and ZhenFund. The main purpose of this cooperation is to initiate Co-Builder Plan. The aim of this plan is to build, serve, and govern the entire blockchain ecosystem together. Through these partnerships, ONT would be able to develop, outreach, and incubate a distributed trust ecosystem to support real business applications as well as to create a new generation of public blockchain infrastructure. Each of these four venture capital firms is likely to add something new and effective to the existing blockchain ecosystem of Ontology.

a. Partnership with Sequoia China: Sequoia China is a renowned name worldwide as this venture capital firm has helped several founders build their own business organizations over the years. This company is one of the leading creators of new entrepreneurs across the globe. In the past 46 years, Sequoia China had worked with companies like Apple, Google, Oracle, Cisco, Alibaba, Airbnb, and many others. Therefore, it can certainly be inferred that its partnership with Ontology would invariably make ONT’s blockchain protocol more suitable for commercial applications.

b. Partnership with Matrix Partners China: Matrix Partners China is a US-based renowned venture capital firm that was founded in 2008 and predominantly focuses on China. Over the past few years, this company has been making a significant contribution in helping new entrepreneurs start their own respective business organizations. It offers a unique combination of local knowledge with global vision and experience. Ontology’s partnership with this venture capital firm is likely to increase its coin distribution to a great extent as it collaborates two of the most powerful countries in the crypto-world.

c. Partnership with Danhua Capital: Danhua Capital or DHVC is predominantly a venture capital fund that invests in budding companies with remarkable business paradigm and technology along with an excellent team and big market. This venture capital firm has extensive networks in both China and Silicon Valley. The team of Danhua Capital consists of people with outstanding academic and industry background along with in-depth knowledge of the latest cutting-edge technologies. So, by engaging in a partnership with DHVC, Ontology’s technology will certainly experience significant upgrades eventually making it more acceptable to the traders.

d. Partnership with ZehnFund: ZehnFund is a seed fund based in Beijing and was established in collaboration with Sequoia China seven years ago. Quite similar to Sequoia China, the sole purpose of this venture capital firm is to help new entrepreneurs achieve their dreams and build their own companies. Ergo, the commercial aspect of ONT would certainly be benefitted due to this partnership. Also, ZehnFund contributes to the academics by helping Chinese students study abroad. This way, the ONT cryptocurrency would be able to increase its domain of trading as well.

Final Thoughts:

At the time of writing this article (10th April 2018, 15:05 IST), one ONT token is equivalent to $4.07 and its market cap is approximately 980 million USD. Since its tokenization, ONT has been exhibiting a steady upward trend without any drastic downfalls. It seemed to remain unaffected even during the recent market upheavals due to Bitcoin’s price fluctuation. If these new partnerships are considered as the tip of the iceberg, it can certainly be concluded that Ontology could cause major disruption in the currency chart by the end of this year.

We will be updating our subscribers as soon as we know more. For the latest on ONT, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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