Red Bull Formula 1 Team Launches NFT Collection on Sui Blockchain

Hi NoRamp Community,

Daily News:

1) Bitcoin Development Platform Tap Protocol Secures $4.2M in Funding

2) Red Bull Formula 1 Team Launches NFT Collection on Sui Blockchain

3) River Enables Bitcoin Payments via Text, Email, Messaging App

4) Credit Karma Co-Founder Stepping Down After 16+ Years

5) Apex Fintech Solutions Files Draft Statement For IPO

Tap Protocol Secures $4.2M in Funding:

• Tap Protocol, a Bitcoin Ordinals-based development platform, has successfully raised $4.2 million in an oversubscribed funding round that exceeded expectations by over $13 million. The funding round was led by Sora Ventures, with participation from multiple other investors including Rw3, Cypher Capital, Kosmos Ventures, and Oak Grove Capital.

• German-based Trac Systems, the parent company of Tap Protocol, plans to use the funds to further develop Bitcoin capabilities as a developer platform, leveraging the Ordinals system. The focus will be on expanding into decentralized finance (DeFi), tokenization, and gamification. They also intend to grow their team by hiring skilled developers to advance the protocol.

• Tap Protocol has already enabled a variety of applications through Ordinals, such as fractionalizing art and integrating token functions for gaming. The company has announced that more significant news will follow in the coming days and weeks. Trac Systems aims to enable decentralized tracking of Ordinals metaprotocols through products like Trac Core, Tap Protocol, and Pipe, differentiating from existing centralized trackers. Currently, Tap Protocol has onboarded over 50,000 users.

Red Bull Formula 1 Team Launches NFT Collection on Sui Blockchain:

• The Red Bull Formula 1 team has launched an exclusive NFT collection on the Sui blockchain, celebrating their highly successful 2023 Formula 1 season. This collection is available for fans to mint free of charge for a limited time, starting from December 15 to December 19, in partnership with Sui, the team’s official blockchain partner.

• The NFT drop highlights the team's record-breaking achievements, including the highest number of championship points in a single season, the most laps led, the team’s first one-two individual driver finish, and Max Verstappen's record-setting points tally. The collectibles feature unique artwork by Automobilist, a studio known for creating designs based on motorsport.

• This initiative is part of the team's effort to engage with fans in innovative ways, offering them digital collectibles and virtual experiences. The NFTs are minted on the Sui blockchain, developed by Mysten Labs, and can be accessed using a Sui innovation that allows secure Web3 experiences through existing social media credentials, with zero gas fees incurred during the minting period.

River Enables Bitcoin Payments via Text, Email, Messaging App:

• River, a Bitcoin technology and financial services company, has launched River Link, a new feature that enables users to send bitcoin globally via text message, email, or messaging app. The feature aims to simplify the bitcoin payment process, allowing recipients to claim the bitcoin sent to any wallet, regardless of location.

• River Link focuses on user convenience and aligns with the ethos of bitcoin as an open network. The feature does not require users to provide on-chain or Lightning payment information, making the transaction process seamless and user-friendly. River CEO Alex Leishman highlights this as a reimagined and frictionless bitcoin payment experience.

• This launch comes as bitcoin continues to lead in consumer use and awareness among cryptocurrencies. According to a report by PYMNTS and BitPay, 12% of consumers hold bitcoin, and 74% of those who have never held it are aware of it. In related news, Lolli raised $8 million to expand its bitcoin/cash-back rewards program, and Block introduced a self-custody bitcoin wallet called Bitkey in 95 countries.

Credit Karma Co-Founder Stepping Down After 16+ Years:

• Nichole Mustard, co-founder and Chief Revenue Officer of Credit Karma, is leaving the company after more than 16 years. This departure was confirmed by a company spokesperson, who expressed gratitude for her significant contributions and wished her well in future endeavors.

• Mustard's exit is the third high-profile departure from Credit Karma in 2023, following Chief People Officer Colleen McCreary in January, who later joined Ribbit Capital, and Chief Marketing Officer Greg Lull, who announced his resignation in September pending the appointment of his successor.

• Credit Karma, a subsidiary of Intuit since its $8.1 billion acquisition in 2020, has faced challenges including a hiring pause due to revenue issues attributed to macroeconomic uncertainty. Additionally, Intuit reported a 9% revenue decline for Credit Karma in the fiscal year ending July 31, 2023, and announced the discontinuation of its personal finance app Mint, which it had acquired in 2009.

Apex Fintech Solutions Files Draft Statement For IPO:

1. Apex Fintech Solutions, specializing in investing and wealth management tools, has confidentially filed a draft registration statement for an IPO in the United States, pending a review by the Securities and Exchange Commission (SEC). The company is yet to determine the specifics regarding the number of shares and pricing for the offering.

2. The Dallas-based company, primarily owned by Peak6 Investments, had previously aimed to go public in 2021 through a $4.7 billion SPAC merger with Northern Star Investment Corp II, which ultimately did not materialize.

3. Apex Fintech, established in 2012, offers a diverse range of financial services, including custody and clearing, advisory, institutional, digital assets, and Software-as-a-Service (SaaS) solutions. It boasts a significant client base, including SoFi, eToro, Webull, and others, and manages over $115 billion in assets. In October, Chantal Wessels was appointed as the new CFO, succeeding Chris Springer.

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