Lambda256 x Shinhan Securities Initiate Proof-of-Concept to Promote STO Business

 

[Lambda256 x Shinhan Securities Initiate Proof-of-Concept to Promote STO Business]

Shinhan Securities announced on December 5th that together with blockchain solution company Lambda256, it will launch a Proof-of-Concept (PoC) to promote the security token (STO) platform business.

Through this platform business, Shinhan Securities plans to enable the tokenization of any underlying asset. Key plans include building blockchain infrastructure, designing digital wallets, issuing, subscribing, and distributing tokens, and linking them with existing financial systems, to internalize technology related to security tokens.

Security tokens refer to securities that are issued as tokens using blockchain technology. They lower the entry barrier for investors, by allowing them to divide ownership of diverse assets (fractional investments) such as real estate, art, and stocks. The advantages of this are a lower issuance cost than traditional securities and a lower risk than alternative digital assets that are based on real value.

Security token Proof-of-Concept is carried out by Shinhan Securities’ blockchain department and Dunamu’s blockchain-specialized subsidiary Lambda256. Lambda256 provides the blockchain platform Luniverse, complete with blockchain consulting for partnered companies, offering a total blockchain solution for diverse businesses that are making the transition into Web3.

Shinhan Securities plans to form a task force (TF) that will lead the development of a security token platform. Experts from diverse fields including product, deposits, payments, and legal affairs will use related systems and overseas case studies as a benchmark to design internal systems.

Furthermore, Shinhan Securities launched its blockchain division, a department dedicated to blockchain-related projects, in July 2022. Kim Jang-woo, head of the Digital Group at Shinhan Securities emphasized that: “We will continue to increase tests conducted with promising companies, to become leaders of new blockchain-based markets, such as security tokens.”

Source: CoinDesk Korea (http://www.coindeskkorea.com/news/articleView.html?idxno=82415)

Service Checklist for Successful NFT Deployment

 

Entering the NFT Market

Non-Fungible Tokens (NFTs) are unique digital assets that contain identification codes and Metadata to distinguish them from each other. For this reason, it is possible to attribute ownership of an NFT to a specific individual or entity. Furthermore, an NFT can leverage its uniqueness to provide owners with verifiability and record loyalty to a creator or brand. These are just a few of the reasons why the NFT market has expanded rapidly over recent years. According to the NFT Market Tracker, NFT trading volume was the most active in September 2021. In September 2021 alone, 5 million NFTs were traded, amounting to around 4.5 billion dollars. The number of transactions grew 100,000 times in comparison to September 2017, increasing by more than 1 million transactions.

 

NFT, NFTs, NFT deployment, Blockchain

However in 2022, NFT market growth slowed down significantly as a direct result of the “Crypto Winter”. Nevertheless, many experts remain positive about the potential of the NFT industry. They believe that the industry will expand and develop in a way that is far less influenced by the volume of NFT transactions. In fact, despite the Crypto Winter, many global brands and companies are currently making preparations to enter the NFT market.

So what factors should companies be considering when looking to enter the constantly evolving NFT market?

 

NFT Deployment Framework: Proposed by Lambda256 

Lambda256 has guided numerous NFT success stories, and we believe that effective NFT deployment can be boiled down to three steps. The first step is to define the target NFT market. This is a process of identifying the industries to which a company belongs, and the relevant NFT markets for those fields. The second step is to mitigate risks by creating a pre-checklist for the NFT project. This checklist should be divided into business and technology aspects. Finally, the company needs to decide how they plan to use the blockchain. Let’s take a closer look at each step.

Step 1: Defining NFT Markets

NFT services can be largely divided into four categories: NFT Marketplaces, P2E NFTs, Intellectual Property sales, and authentication services. First, NFT Marketplaces are a type of intermediary service that allows NFT transactions to take place. The most representative examples include platforms such as Opensea or Solsea. Industries that are well-suited to this type of NFT service include retail and art companies: retail companies can consider NFT Marketplaces as an business expansion strategy, and art-related companies will find there is a wide network of people who can provide assistance in NFT publishing, making it easy for creators to sell their work on NFT marketplaces.

-Customers by Industry-

 

Retail

 

Art (eg. museums)

 

Game

 

Entertainment

 

Sports

 

Franchise

 

Finance

 

Energy

 

Real Estate

1. NFT Marketplace (eg. Opensea)

– (Definition) Art content distribution and sales service via NFTs

– (Benefit) Expanding business with NFT Retail

→ Additional revenue

2. P2E (eg. Axie Infinity)

– (Definition) Deploying  NFTs to issue and trade in-game items

– (Benefit) User acquisition, transaction fee revenue

3. Intellectual Property Sales (eg. NBA Top Shot)

– (Definition) Providing a service to users by publishing owned content as NFTs

– (Benefit) Customer loyalty, NFT sales revenue

4. Authentication Service (eg. Authenticity Guarantee)

– (Definition) Service that guarantees business-related certificates by issuing them as NFTs

– (Benefit) Provides reliability to users

 P2E (play-to-earn) NFTs allow users to create their own content and sell their own NFTs. Here, the NFT market can also help companies to sell game-issued items as NFTs, or content such as images created by users as NFTs. Compared to other industries, it is relatively easy for game companies to enter the NFT market, since NFTs can be smoothly incorporated into existing products such as in-game items or content generated for games.
 

Intellectual property sales refers to the services that create and deliver content owned by an enterprise into an NFT. Various types of content from across industries such as music and sports can be issued as NFTs and sold. In particular, companies that deal in industries with large numbers of fans can effectively leverage their fan base using NFTs, or use them for marketing and promotional purposes.

Finally there are authentication services, where NFTs are used as a guarantee of ownership for a particular entity. These can be useful when a company wants to guarantee authenticity of an item, or in industries such as real-estate, for dealing with registration guarantees.

Step 2: Pre-Checklist for NFT Deployment

If you have decided which NFT market you will target, it is important to create a pre-checklist to reduce any risk, and to make sure all aspects have been considered. This checklist can be divided into business and technology elements.

First of all, the most important factor to consider is exactly what kind of content will be published as NFTs. Then a company must explore all of the various legal issues that may be involved, and countermeasures for them, including potential issues regarding ownership transfer that occurs when NFTs are issued or traded. This also covers deciding the royalties to be paid to the original creator for each transaction. It is also worth noting that NFTs can be subject to financial regulation since they are tokens. Companies should also consider compliance issues that occur in the event of NFT transactions between countries, and pay careful attention to KYC & AML.

 

 [Business Aspects]

NFT Targets

Legal Issues

Author/Artist IP

Game items

Copyright transfer

AML

Owned IP

Authentication certificate

Financial law

Royalty

 

[Technology Aspects] 

Media Storage

User Device

Bridge

Local DB

Web

Ethereum

CDN

Android

Supports Minting

IPFS

iOS

Minting tool

 

Support for NFT Transactions

Payment systems

NFT wallets

 

In terms of technical aspects, a company must consider the NFT payment methods: will users be able to make purchases with digital assets or will traditional payment methods also be available? In addition, electronic wallets, bridges, and NFT minting tools should be understood as technical elements since they are based on blockchain technology. Finally, the way that NFT content is displayed will also affect how it is stored, as well as user device compatibility.

 

 Step 3: Build NFTs with Luniverse

Once you have established a pre-checklist, you will be ready to build your own NFT service. This means you will now have to consider which blockchain platform to use. Let us tell you why Luniverse is the best option for delivering NFT services. First of all, specialized technology called TX-Pipeline can handle large-scale NFT-generated transactions, so there is no risk of losing any transaction data. Thanks to this technology, our blockchain boasts excellent stability in terms of service delivery. We also provide minting tools to help you easily issue NFTs, even without knowledge of coding. Finally, Luniverse provides bridge technology that allows NFTs to be transferred across various blockchains and ecosystems.

Luniverse, Blockchain, Lambda256, TPX, API, DApp, NFT Minting

Luniverse NFT

As an all-encompassing NFT service platform, Luniverse is leading the ecosystem expansion and aiding in the popularization of blockchain – allowing anyone to easily carry out NFT projects by opening an accessible gateway to blockchain technology. Curious about Luniverse NFT? To set up at consultation, contact us at support@lambda256.io.

Don’t forget to keep up to date with Luniverse and discuss the latest NFT news via the Luniverse Discord community!

Blockchain economy consulting for Enterprise to penetrate into the Web3 market

Introduction to Luniverse Chain Solutions & Blockchain Consulting

 

Lambda256 provides an eco-friendly blockchain service platform called ‘Luniverse’ based on the cloud. As a representative model of Enterprise Tech, which has taken the lead in expanding the base of blockchain technology and creating an ecosystem, we are introducing various services through continuous development updates.

Blockchain consulting supports the establishment of business processes and strategic initiatives, addressing and guiding verification issues arising from business decision-making. “We offer a development platform and a variety of support programs to help companies planning next-generation Web 3.0 services successfully launch blockchain solutions.”

Consulting

 

Consulting provided by Lambda256 consists of a blockchain-based business model guide, business process development and technology utilization guide.

We provide all-encompassing guide to address the lack of understanding regarding complex markets, increased time costs, inability to validate technology, and the absence of a trusted partner.

Based on various success stories unique to Luniverse, you can experience differentiated blockchain solutions tailored to your company’s needs. We provide risk management advice necessary for project promotion, and you can experience rapid business realization and cost reduction through the project structure/process hment/technology utilization guide.

1)For Developer

We provide an environment and technical advice that allows you to focus on service development without the burden of implementing and operating blockchain-based services

2)For Enterprise

Easily deploy blockchain and provide Web3 business opportunities so that business decisions are not burdensome

3)For End-user

Blockchain-Savvy <->Induce active network participation to minimize gaps between companies

 

 

Join Us

If you have further questions on Luniverse Chain solutions and Blockchain consulting, please contact us via email rim.pak@lambda256.io

Green NFT: Web3 and Sustainability for Green Planet

What Luniverse has been doing for sustainability in blockchain

Pursuing environmental sustainability is no longer an option but an inevitable change for all types of businesses. For example, Intel has made a commitment to achieve net-zero greenhouse gas emissions in its global operation by 2040, and Samsung Electronics also announced its new environmental strategy in September to achieve net zero direct and indirect carbon emissions by 2050. There are many other companies applying countless efforts not just to achieve carbon neutrality but to reach net zero for environmental sustainability.

Lambda256 has been working on eco-friendly blockchain technology to dramatically reduce power consumption, providing an environment where anyone can easily issue low-carbon NFTs. Luniverse’s high energy efficiency is envisioned by a validation algorithm called LPoA (Luniverse Proof-of-Authority) behind the Luniverse sidechain, a system that produces 30 million times less energy than that of energy-intensive systems like EthereumPoW and Bitcoin. Luniverse blockchain has received certification from DNV regarding its electricity consumption and greenhouse gas emission for Luniverse mainnet.

Lambda256 has also become a supporter of the Crypto Climate Accord (CCA), the environmental initiative that brings together the blockchain, fintech, technology, and energy sectors to decarbonize the global crypto industry and support the entire industry transaction to net-zero greenhouse gas emissions by 2040. It has gained support from the United Nations Framework Convention on Climate Change (UNFCCC). Other participants of CCA include Web3 foundation, Consensys, Near Protocol, etc.

 

Our Manifesto for Green Planet 

 Not long ago, Ethereum, the largest blockchain network in the world, made a long-awaited software upgrade, the Merge, and it shifted from a proof-of-work(PoW) to a proof-of-stake (PoS) consensus mechanism in September. The foundation announced that the transition was successful, and Ethereum has significantly reduced the volume of energy consumption. This significant transition of Ethereum into the green blockchain brought a huge impact and interest in climate change across the blockchain industry.

As many industry verticals are adopting blockchain technology to develop Web3 services or mint NFTs with their own IPs, the environmental sustainability of the blockchain has become more significant than ever. Luniverse plans to support the Web3 DApp services built on Luniverse to carry out sustainable business aiming to achieve carbon net zero with low-carbon activities in blockchain operations.

 

The figure shows the estimated annual energy consumption in TW/year for various services/industries in June 2022. The figures are from publicly available sources as linked in the next paragraphs, and are visualized from the original source of the Ethereum website. According to them, Ethereum – a platform for securely holding digital assets as investments – can be compared to Youtube (estimated to expend about 244 TWh/yr).

Those estimates imply that people consumed 45 times more energy watching Gangnam Style in 2019 than proof-of-stake Ethereum uses in a year.

Also, they compare the figures of energy consumption from other industries and services such as mining gold (240 TWh/yr) , PayPal(0.26 TWh/yr), the gaming industry (34 TW/yr in the United States alone), Netflix (about 0.45T Whr/yr, their own estimates reported in 2019) up to about 94 TWh/yr (as estimated by Shift Project).

As for the comparison with platforms/services above, Luniverse blockchain consumes 0.0000023 TWh/year, as certified by DNV. The validation algorithm (LPoA) of Luniverse enables the lower expenditure of electricity and high performance compared to the PoW algorithm. Luniverse enables minting and managing NFTs in the most environmentally sustainable and cost-efficient way possible. Our underlying blockchain technology navigates through those challenges, providing an ecologically sustainable marketplace for minting, deploying, and selling NFTs.

In addition, we will actively participate in environmental activities such as CCA’s campaigns, which Lambda256 has already joined, and move toward achieving carbon net zero in the blockchain and digital asset industry. Crypto Climate Accord’s goal is to decarbonize the industry by prioritizing climate stewardship and supporting the entire digital asset industry’s transition to reduced electricity consumption by 2030 and net-zero greenhouse gas emissions by 2040. Lambda256 is participating as a Supporter, whose role is to develop standards, tools and technologies to accelerate the adoption of and verify progress toward 100% renewablely-powered blockchains by the 2025 UNFCCC COP30 Conference. We will actively monitor and support the activities of CCA according to the roadmap.

 

Towards 2040: Web3 and Environmental Sustainability

 

With the advent of the Web3 era, the importance of sustainability in blockchain businesses is emerging more rapidly than ever. Luniverse commits to contribute to the improvement of the global environment and a sustainable future through the operation of eco-friendly Green NFT and blockchain.

Luniverse is creating an environmentally friendly digital asset ecosystem with partners using Luniverse’s Green NFT platforms, such as CYPHRLY, MOMENTICA, and Upbit NFT. Please refer to the brief intro of each of our partners. Stay tuned for more updates!

 

Projects on Luniverse Green NFT

CYPHRLY

CYPHRLY is a curation-based NFT marketplace that provides authentic digital collectibles created with cutting-edge technology. We collaborate with IP holders, artists and brands to help them enter the world of Web3. Our platform expands the values of digital collectibles with physical merits (Digital Pair) and data-driven features (LIVE NFTs). Based on environmentally-sustainable technology developed by Lambda256, the blockchain company of Dunamu, CYPHRLY presents a community where fans can freely communicate together.

MOMENTICA

MOMENTICA is the flagship platform operated by LEVVELS, provides novel and innovative fan-artist experiences worldwide. The platform enables fans to collect and exchange diverse formats of digital collectibles. While the initial service will focus on K-Pop artists, the scope of the service will expand to include different artists and genres of music.

LEVVELS Inc. is a Los Angeles-based company operating a future-proof platform to provide blockchain-based projects for global fandoms and their artists. The company is a joint venture between Dunamu, a worldwide standard setter in blockchain and fintech technology, and Hybe, the global entertainment lifestyle platform company housing multinational music labels.

Upbit NFT

The NFT trading platform of Upbit, the South Korean crypto exchange. Luniverse-based NFTs are issued and distributed on Upbit NFT.

 

Try Luniverse for Free

Luniverse is a consortium-based blockchain service platform that offers a development environment where anyone can easily create blockchain services, including a crosschain support and layer2 solutions.

Anyone with the interest in using Luniverse can start the free trial today!

Get Started Now

Join our Community Now

Are you curious about Luniverse NFT? Contact us on this page for an inquiry.

Join Luniverse Discord community to check out and communicate about the latest news of Luniverse and NFT!

Luniverse UseCase: Upbit NFT Marketplace

2021 was the year of NFT. In 2020, the total trade volume of NFT was roughly $94.9 million, which surged to $25 billion in one year (about 260 times). The number of blockchain wallets used to trade NFTs also surged from 545,000 in 2020 to 28.6 million in 2021 (more than 50 times). Various industries such as art, sports, and gaming, are implementing NFT, as it is a new keyword to lead the next generation along with Metaverse. Now, it is almost impossible to find a field without a connection to NFT.

What makes NFT so special? NFT stands for Non-Fungible Token. On the blockchain, where it is impossible to counterfeit or falsify, NFT is a unique token with an inherent ID and data. The remarkable $69 million worth digital art auction at Christie Auction started an NFT boom in virtually all industries.

 

Examples of NFT Marketplaces

 

NBA TOPSHOT 

National Basketball Association (NBA) sold digital cards of its players and the best scenes as NFTs. An NFT of LeBron James was sold for $23,000, and NBA TOPSHOT recorded $164 trade volume and 5.3 million trades only a month after its launch. 

Decentraland

Virtual world platform based on Ethereum, Decentraland, plays a significant role in the world of NFT. In Decentraland, users use a digital currency named MANA to transact virtual land and item.

<Source : Decentraland>

 

Decentraland gained explosive popularity and profited more than 4000% in 2021 alone. Virtual estate of Decentraland was sold for over $910,000, and a shopping center of Decentraland was sold for $2.4 million dollars in November 2021. 

 

Upbit NFT 

South Korea was not an exception from the NFT boom, and the biggest digital currency exchange in South Korea, Upbit, launched an NFT marketplace. Upbit created NFT content with Brave Girls and the South Korean Olympic athletes and is collaborating with diverse artists. One example is ‘mirage cat 3,’ an illustration of a famous artist Jang Koal, which was auctioned off for 250 million won (approximately $20.5k).

<Source : Upbit NFT>

 

Obviously, Upbit NFT is rising as the representative NFT marketplace of South Korea, and Luniverse is the blockchain on which Upbit NFT is built. Why did Upbit NFT choose Luniverse?

Why Luniverse?

Most Advanced Blockchain Technology in South Korea

With the advent of smart contracts, Ethereum has become a standard for almost all DApps. The ecology drew a myriad of users to Ethereum, but the excessive number of users yielded problems, such as lower TPS and high gas fees. Different solutions have been proposed in the field of blockchain, and the most popular one as of now is layer 2: a side chain to proceed with transactions quickly to confirm the details and record only the result on the Mainnet.

With state-of-art blockchain technology, Lambda256 has built a blockchain Mainnet which is more than 100 times faster than Ethereum – over 2000 TPS. Thus, companies from various fields are implementing business using Luniverse blockchain. Moveover, Lambda256 provides tokens called LUK for a stable Mainnet environment. LUK is used as a gas fee in the network, and every LUK only costs $0.01. Therefore, a dramatic increase in transactions in the network does not lead to an unaffordable gas fee like that of Ethereum. Furthermore, sidechain users do not pay gas fees. Users can easily issue tokens on a web page, which is a GUI environment and create transactions using Ethereum standard functions.

If someone is to mint an NFT on OpenSea, the biggest NFT marketplace in the world, he/she needs Ethereum worth more than $100 for a gas fee. However, if he/she mints an NFT through Luniverse Sidechain, no additional cost except for purchasing a Sidechain is needed. Luniverse has also announced that it plans to support a bridge for NFTs, meaning that users can move NFTs which are minted in the Luniverse chain to Ethereum Mainnet to trade in Ethereum-based NFT marketplaces.

 

Eco-Friendly Blockchain

One of the reasons for blockchain skeptics is excessive energy consumption. Both blockchains with the most active trades, Bitcoin and Ethereum, implement Proof of Work (PoW) to verify and create a block. PoW is a consensus algorithm that rewards miners who first verify and create a block. therefore, miners use numerous GPUs for the calculation and operate circulators to cool GPUs off. The process consumes an enormous amount of energy.

 

According to Digiconomist, Bitcoin has emitted 97.14Mt CO2 last year, which is comparable to the carbon emission of Kuwait. The electricity consumption of Bitcoin last year was 204.50TWh, which is comparable to that of Thailand.

Ethereum has consumed 107.58TWh of electricity last year, comparable to the annual electricity consumption of the Netherlands, and has emitted 51.1 Mt CO2 in the same period, comparable to the annual carbon emission of Sweden. The energy consumption of Bitcoin and Ethereum together surpasses that of Italy.

Therefore, Upbit has chosen the Luniverse blockchain for an eco-friendly blockchain environment. Luniverse implements a Proof of Authority consensus algorithm, in which blocks are verified and created by credible institutions. 24 cooperative companies, including Lambda256, participate as validators of Luniverse. Luniverse also consumes 1/10,000,000 of energy compared to Ethereum. The difference here is as big as the Mountain Everest to a leaf. Thanks to the eco-friendly system of Luniverse, Upbit was selected as one of the only two officially licensed Olympic NFT pins, eventually minting Olympic heritage digital pin NFTs.

Luniverse NFT 

Luniverse NFT

Luniverse leads to scale ecosystem and to popularize blockchain through a one-stop NFT service platform so that everyone can proceed with an NFT project. Are you curious about Luniverse NFT? Contact us at support@lambda256.io for a meeting.

Check out and communicate about the latest news of NFT and Luniverse on Luniverse Discord!