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VeVe Gives Digital Collectors a Showroom – ReadWrite



harley quinn red and friends

One of the most common questions that people might ask digital collectors is why they buy artworks that they can’t display? You can’t put a digital figurine on a mantlepiece and while you can broadcast a digital image to a screen, you’re not likely to keep that screen on all the time. The blockchain has made owning collectibles easy. It hasn’t made displaying them easy.

“I want to show off my stuff,” you may say.

VeVe is attempting to have it all — and show it all, for you. The company offers a broad range of digital collectibles licensed from many of the world’s biggest brands. But it also lets collectors build virtual showrooms, and even turn those showrooms into AR galleries.

How the showroom works:

Collectors everywhere, globally, can display their collectibles with pride in a digital realm. What you do is hop on the site and start creating your own space — your own kingdom — your own showroom. You can even take a pic of yourself at your house, your room, your neighborhood — and stand  side  by  side with your creation or  your  digital asset in the real world (your world).

You create and customize your own virtual showroom —  to  show the world your digital collectibles. You just scan your surrounding then drag and tap to drop your digital collectible in AR. After that, you can move, rotate and  scale your digital collectibles to make the 1:1 size and then take photos.

Upload to the site and bam!, share this experience with other VeVe collectors around the world. Move through your virtual showrooms on your phone (yes you  can have more than one. This is FPS game-style — or bring your showrooms to life in Augmented Reality and physically walk through them, all on your phone or tablet.

I think I’m going to showcase myself with Batman. I’ll say, “this is what happens when an unstoppable force meets an immovable object.” I will personally be “the hero  Gotham deserves….” along with Batman, of course.

Batman is all fine and well, but I’ve been thinking about collecting the Harley Quinn Red — but, you know, the black and white is still my fav.

What’s a Secondary Market?

Did you miss the collectable you’ve waited for? Snoozing when it dropped? Well, ya snooze, ya loose. But — if you missed out on that digital collectible when it dropped, or you need one to complete your set, you can browse the secondary market and see if others have listed the collectibles you need for sale.

Harley Quinn Red and Friends — VeVe

The company is led by David Yu and Daniel Crothers, with Alfred Kahn in charge of licensing.

Kahn was responsible for bringing Pokemon to the world and has also overseen the release of brands including Yu-Gi-Oh, Teenage Mutant Ninja Turtles, and Cabbage Patch. The aim of VeVe, says Crothers, is to bring digital collecting to the masses.

“Three years ago, when Crypto Kitties came out, we realized that there’s a huge opportunity in this space to create something for collectors in the real world,” Crothers told The Nifty Show. “It would be a really new and exciting way for people to collect their favorite brands and their favorite products.”

Over the last two years, the company has been trying to secure as many licenses and brands as they can. They now have more than 100 brands on their books, including Batman, Harley Quinn, and Ghostbusters.

How is the asset secured?

Each asset is secured on the blockchain, ensuring authenticity and provenance. But VeVe makes the use of cryptocurrencies to buy and sell the collectibles as seamless as possible. Purchases are made using gems, a familiar currency to gamers, supported by OMI tokens.

Every time a purchase is made on the VeVe app, the company burns an equivalent amount of tokens, lowering the supply and boosting the value of the assets. “Ultimately, it’s a deflationary model,” says Crothers. VeVe also provides a buyback mechanism.

Three levels of collectible.

For collectors, VeVe offers three levels of collectible. The first level, available now, offers static figures similar to those available in real-world stores. A second level, which will launch in the coming months, will animate those figures. Monsters might perform death moves, for example, or Batman might slide across the floor.

The third level though, will add interactivity, turning the assets into digital toys. At the end of the quarter VeVe plans to release a digital DeLorean. Collectors will be able to tap the doors to open them, then drive the car as though it were remote-controlled.

“What we’re moving into is digital toys so what you see now is literally the tip of the iceberg of what’s coming out this year,” says Crothers.

It’s a whole new world for NFTs and digital collectibles — and it might just mean that no one asks any more why digital collectors buy assets they can’t display.

Brad Anderson

Brad Anderson

Editor In Chief at ReadWrite

Brad is the editor overseeing contributed content at He previously worked as an editor at PayPal and Crunchbase. You can reach him at brad at


Fintech Kennek raises $12.5M seed round to digitize lending



Google eyed for $2 billion Anthropic deal after major Amazon play

London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs



Deanna Ritchie

As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations



Deanna Ritchie

As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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