Tag: owned
What is Sandbox: A Beginner’s Guide to the Sandbox Metaverse
Virtual worlds are no longer just for entertainment and they have become valuable real estate in their own right as a result of people’s willingness to invest time and money in them. It is irrelevant whether these goods and spaces are digital or not, whether they are virtual or real- they are valuable because they are created by people who care about them. Minecraft is one of the first games with no goals or rules, and the game is open for players to build and explore at their leisure. This is referred to as a “sandbox game”, and these games are designed in the sandbox style, allowing children to build whatever they want. What is the Sandbox? The Sandbox is a virtual world in which players can create, own, and monetize their own gaming experience. The platform is based on the Ethereum Blockchain Network and includes an in-house governance and utility token known as SAND. In-game items will be tokenized as non-fungible tokens, making them freely tradable on marketplaces. The Sandbox’s virtual world is divided into 166,464 lands. These lands are the metaverse spaces where players can create and monetize games. Land and estates can be combined to form districts, and districts can be combined to form estates. The project was launched in 2018 and is still in the early stages of adoption and development. The Sandbox’s three main components are Vox Edit, the Marketplace, and the game itself. Let’s take a closer look at the Sandbox’s components. 1. Vox Edit: VoxEdit is a 3D voxel modeling software that enables artists to create and animate 3D objects such as people, animals, tools, and so on. These in-game assets can be used in the game by the artists or sold on the market. 2. Marketplace: Users of the Sandbox project will be able to sell their creations in VoxEdit in the form of non-fungible tokens (available in ERC-721 standards). This will provide creators with an open market to monetize their creations. 3. The Sandbox Game Land: The virtual world of Sandbox is divided into several lands. After purchasing land, a user can use it to create a game and place their in-game assets. Users can use assets to decorate their land and incorporate gameplay features by assigning predefined behaviors to the assets. This can transform a piece of land into a full-fledged game. 4. The SandBox Avatar: An Avatar is an in-game virtual reality representation of a player that can be customized to suit the needs of Sandbox players. Users can try different outfits, hairstyles, and colors to get a unique look. They can also boost the attributes of their avatar with various items available in the marketplace. 5. SAND Token: Sand is the in-house utility and governance token of the Sandbox ecosystem and can be staked on a specific piece of land. As a staker, you will receive a few gems and catalysts as a staking reward, which can be used on the platform or sold on the marketplace. By 2023, the platform’s ecosystem will be converted into a DAO (Decentralized Autonomous Organization). 6. Land and Lands Map: Lands are physical spaces in the metaverse owned by players to create and monetize games and can be rented to game creators. Anyone who purchases a piece of land will be granted a LANDS token, which is an ERC 721 (Non-Fungible Token standard) token. There are a total of 166,464 land areas that can be purchased and 58% of the land has already been sold on the platform. Revenue Model of The Sandbox platform The Sandbox team has identified the following five revenue streams that would help in managing and growing the platform: 1. Advertising Revenue Businesses will be able to advertise their products or services on the Sandbox platform, and the platform will charge a fee for these services. 2. Company NFT Sales In addition to the NFTs created by the individual artists, the company also has its own in-house NFT to be sold in the marketplace. 3. LAND sales Sandbox has been selling the LAND pieces in auctions, which has generated revenue for the platform. 4. Player Subscription and Services The company would make money from players by charging them subscription fees and other service fees in order to give them access to exclusive in-game features and premium assets. 5. Transaction Fee The Sandbox would charge a 5% transaction fee on every transaction on the platform. As a result, as the platform grows in popularity, transaction fees will become the primary source of revenue. Partnerships The Sandbox has several renowned partners, such as: Atari Axie Infinity Binance CryptoKitties Dapp Harmony Network Kyber Network Polygon Network Conclusion The Sandbox is a new virtual world that aims to replicate the success of Minecraft in the gaming industry and monetize the whole gaming … Continued
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7 Best NFT Marketplaces To Buy/Sell on ETH/SOL
NFT has evolved into a very popular way to own digital assets and has created entirely new NFT marketplaces for buying and selling them. As the NFT craze sweeps the globe, here are the best NFT marketplaces from around the world to buy and sell digital assets. But let’s first understand what NFT marketplaces mean. What is the NFT Marketplace? A non-fungible token marketplace is a decentralized platform for trading and storing non-fungible tokens. Buyers and sellers must both have crypto wallets in order to complete transactions. Asset holders benefit from strong ownership rights, immutability, and security in the NFT marketplace. You must have been following the trend and waiting for a marketplace to emerge. NFT marketplace can also be set up on the Ethereum and Solana networks as a result of which NFT sales on the Ethereum and Solana networks have skyrocketed in less than a year. For artists willing to embrace a shift in how art is owned and distributed, artistic platforms offer life-changing opportunities. Here are the 7 best NFT marketplaces to buy/sell on ETH/SOL networks. Best NFT marketplaces on the Ethereum network 1. OpenSEA Marketplace OpenSea is a decentralized marketplace for digital goods such as collectibles, in-game items, digital art, and other digital assets supported by blockchains such as Ethereum. It is one of the largest NFT marketplaces, with a 24-hour trade volume of about USD 3–5 million. Users save items in their preferred wallet, which could be a mobile wallet like Coinbase Wallet or Opera Touch, or an in-browser extension like MetaMask. Trading on the OpenSea marketplace is done via smart contracts, which means that your items are never held by a central authority. OpenSea is a decentralized application (dApp), which is a user interface for connecting to the blockchain. The benefit of using this marketplace is that NFT creators, such as digital artists, are paid royalties proportional to the value of their tokens. OpenSea utilizes the Ethereum blockchain standards ERC721 and ERC1155 to ensure that the users and NFT creators do genuinely own the items they trade. The company has now begun work on adding support for the Flow and Polygon blockchains. Furthermore, in response to the rising gas fee on the Ethereum blockchain, OpenSea has announced plans to integrate an Ethereum scaling solution. 2. Rarible Marketplace Rarible is the world’s first community-owned digital collectible platform for creating, buying, and selling digital collectibles. Rarible is the world’s first community-owned digital collectibles platform for creating, buying, and selling digital collectibles. You have complete ownership of your tokens because it is a non-custodial market. Users can also obtain intellectual property (IP) rights through the platform’s Proof of Provenance. The marketplace is open to anyone who wants to create and sell their work. 3. SuperRare Marketplace SuperRare collections are inherently social in nature. Digital collectibles are ideal for social settings because their ownership histories are transparent. The social level can aid in the evaluation of values and other contexts associated with market goods. The SuperRare marketplace recently raised $9 million in funding from investors in order to further develop its platform and relaunch it next year. The platform is built on the Ethereum blockchain, and all digital art is represented by standard ERC-721 tokens. Because the art is one-of-a-kind, SuperRare charges a higher fee. The buyer is charged a transaction fee of 3%. The merchant’s transaction fee, on the other hand, is a whopping 15%. Best NFT marketplaces on the Solana network 1. Solanart Marketplace Solanart is a popular Solana NFT Marketplace. Anyone can create, sell, and buy Solana-based NFTs. This marketplace charges a 3% transaction fee for each successful NFT sale. The creator, on the other hand, has the ability to set their own fee. Solanart aims to promote artists and creators by providing a safe marketplace for them to share their work. Popular NFT collections from the Solanart marketplace include Degenerate Ape Academy, Aurora, Solpunks, and Galactic Gecko Space Garage. Solanart aims to promote artists and creators by providing a safe marketplace for them to share their work. 2. DigitalEyes Marketplace Solana’s first open NFT marketplace is DigitalEyes. Users can use DigitalEyes to create, sell, and buy Solana’s NFT. For each successful NFT sale, DigitalEyes charges a 2.50 percent service fee. Among its top NFT collections are Aurory, Degenerate Ape Academy, Frakt, and Galactic Gecko Space Garage. The Mint Calendar, on the other hand, shows the upcoming NFT drops and launches. 3. Metaplex Marketplace The Metaplex marketplace allows you to create your own branded storefronts. The Metaplex storefront is linked to a decentralised on-chain application that mints and sells NFTs. For each successful NFT transaction, you may be able to avoid marketplace costs. Rather than launching your NFT on the open market, where it will face competition from other NFT ventures, your project will be … Continued
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Famous Social Media Marketing Mogul NFTs Hits A Snag After Rug-Pulling Claims
The post-consortia era: How enterprises are embracing Web3 structures
Though blockchain-enabled consortia became the modus operandi for enterprises, today, they are in a different Web3-infused landscape and it’s vital that they adjust well.
Here’s Why Ethereum (ETH) is a Better Bet than Bitcoin(BTC) For Traders!
The post Here’s Why Ethereum (ETH) is a Better Bet than Bitcoin(BTC) For Traders! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
In terms of ongoing losses, Ethereum is ahead of Bitcoin. As worries of a nuclear tragedy loom over Europe, it has dropped 6.48 percent in the last 24 hours. As a result, investors become uneasy, resulting in a drop in investment. The shift has also diminished weekly gains, which are now predicted to be 0.64 …
Enhancing Indonesian state-owned enterprises (SOEs) through clustering
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On October 14, 2021, Jokowi stated that he was pleased to witness the clustering of container terminal operator and port development firm Pelindo into one holding, which was PT Pelabuhan Indonesia, to cuts logistics costs and helps improve connectivity throughout Indonesia.
According to Jokowi, the clustering forms into one great power, as it builds networking with partnerships abroad. "Through partnering with overseas companies who have networks, the (SOEs') link to all countries can become a huge power," the president remarked.
Through clustering, SOE companies have shown above-standard or even excellent work performance that has contributed significantly to the state budget.
According to data from the National Development Planning Board (Bappenas) in 2019, the estimated total budget for infrastructure development in the period of 2020-2024 was US$447 million or Rp6,445 trillion, and 21 percent of them came from or supported by SOEs.
In the third quarter of 2021, the total assets of SOEs reached some US$610.5 million or Rp8,767 trillion, equivalent to some 57 percent of Indonesia's GDP.
Moreover, in January - September 2021, the total consolidated revenues were closed at Rp1,613 trillion, or grew 14% compared to the same period in 2020.
One of the efforts to enhance state firms' performances is through clustering and restructuring.
Clustering efforts have been accomplished by reducing the number of SOEs from 107 to 41, and sector clustering from 27 to 12, where two deputy ministers each oversee six clusters.
Currently, there are 12 sectors that 41 SOEs engage in: energy, oil, and gas; mineral and coal; insurance and pension funds services; plantations and forestry; and telecommunications and media.
Additional industries include the food and fertilizer industry, tourism and supporting services, health industry, manufacturing industry, infrastructure, logistics, and financial services.
On February 18, 2022, SOEs Minister Erick Thohir announced that he would again downsize the number of state-owned enterprises from 41 to 37 in the next two years.
In addition, he expressed his hope that the next SOEs Minister can complete the reducing program to only 30 state-owned enterprises. With a roadmap for a ten-year period, he has targeted to make the scope of state firms more manageable.
So far, the ministry has encouraged and carried out the SOEs transformation through reducing companies that are considered too large in number, and focusing on inefficient business sectors.
Under his leadership, the transformation is focused on human capital through replacing underperforming board of directors with better ones, so many state-owned enterprises can generate profits for the state.
Through restructuring, holdings, mergers, and acquisitions, Thohir has made SOEs' work performances more efficient.
According to Thohir, the SOEs Ministry distinguishes the strategy of the three pharmaceutical SOEs, where Bio Farma focuses on vaccines, Kimia Farma is focused on chemicals, and Indofarma on herbs. Indonesia has extraordinary potential in the herbal sector, but it has not been explored, so the SOEs Ministry had tried to re-map the path in developing it.
"We know that we import 90 percent of the raw material for medicines, and even medical devices. The COVID-19 pandemic has woken us up that we need to create a roadmap for Kimia Farma to focus on chemicals and Indofarma to be positioned on herbs," he explained.
Thohir said that since health and energy are under the same SOEs ecosystem, a connection between sectors needs to be built.
On the other hand, oil and gas firm Pertamina has begun to build petrochemicals, and one of the derivatives of petrochemicals is to create paracetamol. If Pertamina is merged with a health state firm into one ecosystem, Indonesia would no longer need to import paracetamol.
The ministry also consolidated and launched the tourism holdings and its sub holdings into one cluster, consisting of airport operator Angkasa Pura I and Angkasa Pura II, as well as some aviation and hotel companies.
Thohir put together the infrastructure construction SOE and cement SOE into one cluster, as he viewed that the two need each other and are expected to synergize.
Meanwhile, the tourism, logistics, and support cluster consists of Hotel Indonesia, temple tourism managing firm PT TWC, which manages the temples of Prambanan and Borobudur and Ratu Boko, and Indonesia Tourism Development Corporation (ITDC).
State-owned Bank Negara Indonesia (BNI) also announced that it relied on clustering to strengthen the distribution of smallholder business credits (KUR), as well as to help boost the productivity of Micro, Small, and Medium Enterprises (MSMEs) during the COVID-19 pandemic.
Moreover, on February 23, three state-owned companies have agreed to collaborate on building green industry clusters in Indonesia that will prioritize the efficient and effective use of sustainable resources. The three state firms are electricity company PT Perusahaan Listrik Negara (PLN), oil and gas company PT Pertamina, and fertilizer company PT Pupuk Indonesia.
The clustering efforts began in 2020, as many state firms decided to be merged. Thohir also significantly increased the performance target of SOEs to double their outputs in 2024, especially on profits, which are projected to reach some US$20.8 billion or Rp300 trillion.
To be successful
Performance of banks incorporated in the Association of State-Owned Banks (Himbara) throughout 2021 showed satisfactory results through well-implemented credit restructuring, economist and capital market practitioner Lucky Bayu Purnomo said.
According to Purnomo, credit restructuring has resulted in more efficient and effective management of operational expenditures. In December 2021, the total profit of Himbara banks shot up to US$5 billion or Rp72.05 trillion, significantly increasing by 78.06 percent, compared to 2020 at US$2.8 billion or Rp40.34 trillion.
Thohir said each Himbara bank has a specific business focus, such as BRI prioritizes the MSME and ultra micro-segments, Mandiri is dedicated to enhancing the national corporates and entrepreneurs, BNI on international business, and BTN focuses to reduce backlog numbers and help people, including millennials, to make it easier to purchase a home.
"We hope that Himbara's role can be more prominent and become the main national economic driver through enrichment in various segments that provides positive impacts for stakeholders and Indonesian society," he said.
Previously, SOE holdings that had been formed were plantation holdings under PT Perkebunan Nusantara III, forestry holding under Perum Perhutani, fertilizer holding under PT Pupuk Indonesia, and cement holding under PT Semen Indonesia.
Under Thohir's leadership, the holdings of SOEs that have been completed are the mining holdings under Mining Industry Indonesia (MIND ID), oil and gas holdings under PT Pertamina, pharmaceutical holdings under PT Biofarma, state-owned hospital holdings under Pertamedika IHC, insurance and underwriting holdings Indonesia Financial Group (IFG), and tourism and aviation holdings under Aviasi Pariwisata Indonesia or InJourney.
Fixing SOEs through the establishment of holdings is a task that must be carried out sustainably to yield powerful government-owned corporations that can compete on the international stage.
Photo: ANTARA / HO-Kementerian BUMN / pri
Reporter: Kenzu Tandiah; Editor: Rahmad Nasution (c) ANTARA
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comPresident Joko Widodo (Jokowi) has given a period of one to two years for state-owned enterprises (SOEs) to make fundamental changes to increase their competitiveness.
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