All Industries

Conflux Network introduces AxHKD, Hong Kong Dollar-Backed Stablecoin

Conflux

Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong Dollar (HKD)-backed stablecoin, AxHKD. Built by local fintech company AnchorX, the stablecoin will be launched on Conflux Network initially, followed by Ethereum. Conflux will provide the underlying technology with its superior scalability, security, low latency and cost-effectiveness. With this launch, AnchorX envisions becoming the most trusted provider of digital currency solutions in Asia, empowering reliable and efficient global exchanges. AxHKD, will be launched initially on the Conflux public blockchain, and utilizes world-class distributed ledger technology and robust cybersecurity measures. It ensures a 1:1 peg to the HKD, backed by high-quality liquid asset reserves. These reserves are protected by a segregated trust arrangement and held by regulated financial institutions in Hong Kong. OKLink Trust, a strategic partner of AnchorX, provides the custodian services for the AxHKD issuance. AnchorX targets two primary applications for AxHKD. Firstly, as a catalyst for global payments, AxHKD enhances cross-border transactions between Hong Kong/mainland China and the global market. This is particularly beneficial for Belt and Road partners with less developed banking infrastructures. Secondly, AxHKD acts as a reliable fiat-on-chain instrument for virtual asset trading, paving the way for innovation in Real-World Assets and bridging the gap between traditional and digital assets in Hong Kong. The project is backed by Industry leaders from both the traditional finance and blockchain technology space including Hony Capital, a leading investment management firm in China overseeing over USD 16 billion in assets. The announcement follows the recent initiatives by Hong Kong authorities to propose a regulatory regime for stablecoin issuers. On December 27, 2023, the Financial Services and the Treasury Bureau, in conjunction with the Hong Kong Monetary Authority (“HKMA”), released a Consultation Paper to gather public comments on the proposed legislation to regulate stablecoin issuers. This paper builds on the Discussion Paper released by the HKMA in January 2022 and the subsequent Conclusion Paper in January 2023. Byron Wong, the Chief Compliance Officer at AnchorX, commented on the company’s unwavering commitment to meeting regulatory standards, “Hong Kong has adopted one of the most proactive approaches to stablecoin regulation globally. We want to ensure that AxHKD tightly aligns with the proposed stablecoin standards. We will also explore applying for participation in the upcoming regulatory sandbox and hope to contribute our first-hand practical insights to the formation of a successful stablecoin regulatory regime.” Fan Long, Founder of Conflux, commented “We’re thrilled to partner with AnchorX for the launch of AxHKD on Conflux Network. This collaboration represents a significant milestone in the fusion of traditional finance and the Web3 realm, enhancing the practicality of digital currencies for everyday transactions. AxHKD is poised to play a pivotal role in weaving the Hong Kong Dollar into the fabric of the Web3 ecosystem, driving innovation and financial inclusion.” About Conflux Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. It utilizes a hybrid PoW/PoS consensus mechanism to ensure a rapid, secure, and scalable blockchain environment. With Conflux, congestion is eliminated, fees remain low, and network security is enhanced. As the leading regulatory-compliant public blockchain in China, Conflux offers a distinct advantage for projects seeking to enter the Asian market. The platform collaborates with renowned global brands and government entities in the region, driving blockchain and metaverse initiatives. Notable partnerships include the city of Shanghai, China Telecom, Little Red Book (China’s “Instagram”), McDonald’s China, and Oreo. Learn more: https://confluxnetwork.org/ About AnchorX AnchorX is a Hong Kong-based fintech company with a vision to be the most trusted provider of digital solutions in Asia. Learn more: https://www.anchorx.org/ or https://twitter.com/AnchorX_Ltd Contact Details Conflux Melissa Tirey melissa@shift6studios.com

March 08, 2024 02:25 PM Eastern Standard Time

Benchmark International Has Successfully Facilitated The Transaction Between EVOS Logistics And Blue Grace Logistics

Benchmark International

Benchmark International is pleased to announce the acquisition of EVOS Logistics, Inc. by Blue Grace Logistics. EVOS Logistics is a web-based software company focused on SaaS solutions that optimize transportation, management, sourcing, and routing for shippers, carriers, third-party logistics, and transportation consultants. EVOS SmartTools™ offerings fill the gap between the customer's needs and the provider's system capabilities. With a commitment to innovation and customer-centricity, EVOS Logistics continually evolves its software solutions to meet the transportation industry's evolving needs. By leveraging data analytics, machine learning, and automation, EVOS Logistics empowers its clients to make informed decisions, optimize their supply chain processes, and drive business growth. BlueGrace® is a superior supply chain management and best-in-class technology partner. They offer the most agile Third-Party Logistics (3PL) strategy and turnkey execution for shippers, allowing BlueGrace® to help solve companies' most significant challenges and improve businesses. "This was a great combination of two fantastic companies already having a longstanding relationship. The acquisition will allow BlueGrace® to remain a best-in-class option for supply management. We were grateful to be a part of the transaction and wish both parties the best of luck with their future endeavors." - Transaction Director Kevin Barrett, Benchmark International Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

March 08, 2024 01:40 PM Eastern Standard Time

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News Release

Stablecoin Studio on Sui, S3, to Give Sui Developers Compliant Payment Processing Stablecoin Applications

Sui

S3.MONEY (S3), a stablecoin studio developed on top of the Sui blockchain, was officially announced today by Cairo-based blockchain startup Pravica in collaboration with Sui. S3, which stands for “Stablecoin Studio on Sui,” is set to revolutionize the global payment processing landscape by introducing a versatile and user-friendly solution for building and utilizing stablecoins on the Sui blockchain. S3 offers a key utility designed for building customizable stablecoins directly on the Sui blockchain, which in its initial phase, enables issuers to create fiat-backed stablecoins without building the bespoke technological infrastructure typically required for smart contract development and currency management. S3 not only simplifies the process for existing stablecoin issuers, such as USDC and USDT, to integrate with Sui, but also facilitates the creation of bespoke stablecoin solutions tailored to meet specific regulatory requirements in various jurisdictions. S3 also establishes an entirely new process for stablecoin management, offering a streamlined one-stop-shop experience through a straightforward interface. Stablecoin Studio on Sui provides intuitive, capable administration with role-based controls, enabling effortless configuration and management of stablecoins. The platform enhances treasury command with built-in proof-of-reserve functionality and seamless integration with on-chain oracles. Integrated KYC/AML features prioritize compliance, strengthening due diligence with qualified identity verification services. Mohamed Abdou, Founder & CEO of Pravica, expressed his enthusiasm for S3 and Sui as a foundation for Pravica’s stablecoin creator. “Based on the adoption we are already seeing and our deep experience with international payment systems, we are convinced that stablecoins will revolutionize the global payments industry. We also believe that Sui offers the most capable platform for building robust and scalable decentralized utilities. Built on top of Sui, S3 poised to become a global utility for creating customized payment solutions utilized by millions,” he said. Beyond empowering builders to craft their own stablecoins, S3 also comes with a cutting-edge payments app, Walletify, which serves as a closed-loop payment solution. Walletify allows users to seamlessly transact using the stablecoins created through the S3 utility. Walletify’s closed-loop architecture, building on Sui’s unique Move-based design pattern, ensures a secure and efficient payment experience for both merchants and users. “The team at Pravica has done incredible work and built much needed financial tooling. Stablecoin Studio on Sui removes an immense hurdle for stablecoin issuers and is set to transform the world’s payment processing industry,” said Greg Siourounis, Managing Director of the Sui Foundation. “We are extremely gratified that they have chosen to build this revolutionary solution on Sui.” Contact Details Sui Sui Foundation media@sui.io

March 08, 2024 01:05 PM Eastern Standard Time

News Release

Bitget Lists DEVVE, the Next-Generation ESG Blockchain

Bitget

Bitget, the world’s leading cryptocurrency exchange and Web3 company, is thrilled to announce the listing of DEVVE, a next-generation cryptocurrency set to revolutionize the digital asset landscape. With DEVVE, users gain access to a cutting-edge blockchain protocol that offers unparalleled scalability, security, and cost-effectiveness, while addressing critical challenges in environmental and social asset tracking. DEVVE’s innovative approach comes at a time when society faces significant challenges in managing data for environmental and societal issues. A lack of transparency and trust in tracking environmental assets, such as carbon credits and other ESG assets, has left stakeholders vulnerable to falsified records and greenwashing. Existing third-party providers attempt to track and verify these assets but often lack the necessary transparency, leading to inefficiencies and vulnerabilities in the system. DEVVE aims to address these challenges by providing a framework that tracks environmental and social assets with transparency and trust. Leveraging its advanced blockchain technology, DEVVE offers a solution that enables accurate identification, measurement, and tracking of ESG assets, reducing the risk of falsified records and ensuring integrity in the system. With DEVVE, users can participate in governance to become verification nodes on the DevvX blockchain, fund environmental and impact projects, and utilize DevvX shards for storing environmental or impact datasets. This circular utility of DevvE fosters transparency and trust in the ecosystem, empowering stakeholders to make informed decisions and drive positive change. Commenting on the listing, Gracy Chen, Managing Director of Bitget, stated, “We are excited to welcome DEVVE to our platform. DEVVE’s innovative approach to blockchain technology aligns with Bitget’s mission of empowering users through cutting-edge financial solutions. We believe that DEVVE has the potential to drive significant advancements in the digital asset space and are committed to supporting its growth and adoption.” With its groundbreaking technology and ambitious roadmap, DEVVE aims to cement itself as the world’s source of truth for ESG data and assets. As it continues to expand its ecosystem and utility, DEVVE is poised to redefine the future of decentralized finance and blockchain technology, ushering in a new era of transparency and trust in environmental and social asset tracking. Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, Bitget’s spot market has seen significant growth. In 2023 alone, the platform added over 350 new listings, further diversifying investment options for users. Meanwhile, Bitget Wallet supports over 100 mainnets and 250,000+ tokens. Its on-chain trading function Bitget Swap enables cross-chain trading between nearly 30 mainnets. About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet Contact Details Bitget Rachel Cheung media@bitget.com Company Website https://www.bitget.com/

March 08, 2024 01:03 PM Eastern Standard Time

News Release

Bitget Lists Scallop (SCA) today

Bitget

Bitget, the world’s leading cryptocurrency exchange and Web3 company, is thrilled to announce the listing of Scallop (SCA), the cutting-edge Next Generation peer-to-peer Money Market for the Sui ecosystem. As the first DeFi protocol to secure an official grant from the Sui Foundation, Scallop stands out for its commitment to institutional-grade quality, enhanced composability, and robust security. Scallop is on a mission to revolutionize the financial landscape by providing a dynamic money market that delivers high-interest lending, low-fee borrowing, Automated Market Making (AMM), and digital asset self-administration tools all in one unified platform. Furthermore, Scallop offers an SDK tailored to meet the needs of professional traders, ensuring accessibility and convenience for all users. With a strong emphasis on innovation and user experience, Scallop is set to redefine decentralized finance (DeFi) and usher in a new era of financial empowerment within the Sui ecosystem. As Bitget continues to expand its portfolio of supported assets, the addition of Scallop (SCA) reinforces its commitment to providing users with access to the most innovative and promising projects in the crypto space. “Bitget is committed to supporting innovative projects that have the potential to transform the digital asset landscape, and the listing of Scallop (SCA) is a testament to that commitment,” said Gracy Chen, Managing Director of Bitget. “Scallop’s pioneering approach to peer-to-peer lending, low-fee borrowing, and digital asset administration aligns perfectly with what we are excited about and look forward to.” Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, Bitget’s spot market has seen significant growth. In 2023 alone, the platform added over 350 new listings, further diversifying investment options for users. Meanwhile, Bitget Wallet supports over 100 mainnets and 250,000+ tokens. Its on-chain trading function Bitget Swap enables cross-chain trading between nearly 30 mainnets. About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet Contact Details Bitget Rachel Cheung media@bitget.com Company Website https://www.bitget.com/

March 08, 2024 01:01 PM Eastern Standard Time

On international Women's Day, Diamond Lake Minerals talks about the importance of a key advisor

Diamond Lake Minerals Inc

Diamond Lake Minerals CEO Brian J. Esposito and Advisory Board Agnes Budzyn joined Steve Darling from Proactive on International Women's Day to discuss the company's commitment to equity and innovation. Esposito highlighted Budzyn's leadership in the security token and digital asset space, emphasizing her valuable expertise in guiding the company's strategic vision. Budzyn, a seasoned professional with experience in blockchain investing and Wall Street, expressed excitement about Diamond Lake Minerals' role in shaping the future of digitalization. She emphasized the importance of adaptability and experimentation in navigating industry trends. Esposito underscored the democratizing potential of technologies like security tokens, noting the increased opportunities for wealth creation irrespective of gender. The discussion reflected Diamond Lake Minerals' dedication to fostering a diverse and inclusive environment while driving forward-thinking initiatives in the digital asset landscape. Contact Details Proactive Canada +1 604-688-8158 action@proactiveinvestors.com

March 08, 2024 12:04 PM Eastern Standard Time

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ASSOCIATION OF PICKLEBALL PLAYERS AND UTR SPORTS LAUNCH NATIONWIDE PICKLEBALL LEAGUES

AOPP

The Association of Pickleball Players (APP) and UTR Sports have announced a groundbreaking new initiative for millions of recreational pickleball players across the nation—the creation of APP UTR Sports Pickleball Leagues. Pickleball players, league coordinators, and facility operators are encouraged to sign up now to receive additional details for the inaugural season at theapp.global/pickleball-leagues. With nearly 50 million adult Americans playing pickleball, APP UTR Sports Pickleball Leagues now offers athletes of all ages and abilities the opportunity to form teams and compete head-to-head in their local communities. It establishes the largest grassroots team pickleball competition ever. Registration will open on the UTR Sports software platform in spring for the 2024 season, culminating with the APP UTR Sports Pickleball Leagues National Championships in December 2024 at The Fort, the APP’s headquarters in Fort Lauderdale, Fla. “APP UTR Sports Pickleball Leagues is an unprecedented pickleball competition that builds on our commitment to making pickleball an inclusive sport for all,” said APP EVP - Competition, Melissa McCurley. “The APP is already well-established as the premier entity for professional and amateur players in the U.S. and worldwide. This national network expands on that as an accessible, local format for the millions of new pickleball players regardless of their skill level and age. Playing in a tournament for the first time can be intimidating, but APP UTR Sports Pickleball Leagues are an approachable entry to organized pickleball competition that you can play with your friends at your local court.” “We are excited to announce the expansion around our partnership with the APP with the launch of pickleball leagues,” said Mark Leschly, Chairman and CEO of UTR Sports. “As APP’s official and exclusive technology for ratings and rankings, harnessing our technology platform for events and leagues naturally furthers our mission to grow level-based pickleball play for everyone.” Pickleball players across the United States will be invited to form teams and compete at the local and national level to be crowned national champions. Divisions within each league feature competitions for men’s, women’s, and mixed doubles teams among three age groups (ages 39 and below, 40-59, and 60 and older) and three skill levels using the UTR Pickleball Rating: recreational, intermediate, and advanced. Below are key dates for the 2024 season of APP UTR Sports Pickleball Leagues: Spring: Registration opens Early Summer: Summer Session begins Summer: Registration re-opens for Fall Session Fall: Fall Session begins December 7-10: APP Leagues National Championships at The Fort in Fort Lauderdale, Fla. Each team will be comprised of a minimum of six and a maximum of 16 players. Team captains will be elected to organize team rosters, coordinate scheduling, and secure a venue for home matches. Venues can include park districts, country clubs, indoor tennis clubs, private courts, or any other local area approved by APP UTR Sports Pickleball Leagues. This initiative builds on the APP’s authority as the catalyst and steward of pickleball, providing opportunities for pickleball players of all ages and skill levels through a robust slate of playing formats. It joins the APP’s calendar of world-class pickleball events, which offer the opportunity to win prize money and be seen on internationally televised broadcasts. More information about the APP, its initiatives, and the full 2024 competition schedule are available on theapp.global. More information about UTR Sports, its ratings, and technology solutions for pickleball providers and players, is available on utrsports.net. Behind-the-scenes access and player content are also available by following the APP and UTR Sports on Instagram, X, Threads, TikTok, Facebook, and LinkedIn. # # # Media Note: The APP offers its library of pickleball photos and b-roll to media for use in pickleball-related articles and news stories. Please click here to view and download files, with credit given to the Association of Pickleball Players. About the APP: The Association of Pickleball Players (APP) provides opportunities for pickleball players of all ages and skill levels—professionals, amateurs and recreational—to compete in world-class pickleball events for the opportunity to win prize money and be seen on internationally televised broadcasts. The APP was founded in 2019 and operates the first and only tour fully and officially sanctioned by USA Pickleball. In 2023, it held 19 events across the country and supported five international tournaments. The APP prides itself on developing the next generation of pickleball champions through its APP Next Gen Series, the APP Next Gen National Team and other youth initiatives. The 2024 schedule, recent news and additional information about the APP are available at theapp.global and on Instagram, X, Threads, TikTok, Facebook and LinkedIn. About UTR Sports: The mission of UTR Sports, formerly Universal Tennis, is to connect and grow the sports of tennis and pickleball with accurate global ratings, innovative events, and a global community centered around level-based play. The UTR Sports Platform is anchored by our patented ratings technology. UTR Sports provides the technology tools and solutions relevant and valuable to players, coaches, and organizers. UTR Sports is creating opportunities and pathways, including the UTR Pro Tennis Tour, for players from all over the world, in all stages of life, to find better matches and unlock a more fun, affordable, and flexible experience. Media Contacts: Daniel Sagerman at the APP, dsagerman@theapp.global or 847-800-8182. Ben Makarenko at UTR Sports, bmakarenko@universaltennis.com or 416-618-0422. The Association of Pickleball Players (APP) provides opportunities for pickleball players of all ages and skill levels—professionals, amateurs and recreational—to compete in world-class pickleball events for the opportunity to win prize money and be seen on internationally televised broadcasts. The APP was founded in 2019 and operates the first and only tour fully and officially sanctioned by USA Pickleball. In 2023, it held 19 events across the country and supported five international tournaments. The APP prides itself on developing the next generation of pickleball champions through its APP Next Gen Series, the APP Next Gen National Team and other youth initiatives. The 2024 schedule, recent news and additional information about the APP are available at theapp.global and on Instagram, X, Threads, TikTok, Facebook and LinkedIn. Contact Details Association of Pickleball Players (APP) Daniel Sagerman +1 847-800-8182 dsagerman@theapp.global Company Website https://theapp.global

March 08, 2024 12:00 PM Eastern Standard Time

News Release

ITC Makes Affirmative Preliminary Determination in Trade Cases on Paper Plates China, Thailand, and Vietnam, Says American Paper Plate Coalition

American Paper Plate Coalition

The American Paper Plate Coalition (“APPC”), representing the majority of American paper plate production, today welcomed the U.S. International Trade Commission’s (ITC) unanimous preliminary ruling that imports of paper plates from China, Thailand, and Vietnam are injuring the American industry. The ITC’s preliminary decision follows the U.S. Department of Commerce’s February 15 announcement initiating formal investigations of unfair pricing (dumping) and subsidies of paper plates from these countries. As a result of today’s decision, both Commerce and the ITC will continue their investigations. “Unfairly traded imports from China, Thailand and Vietnam have had serious effects, not just on our businesses and workers – the local communities and the entire economy also suffer from the fallout,” said William P. Biggins, Jr., President and Co-Owner of APPC member Aspen Products, Inc. “We are grateful to the ITC for its commitment to addressing harmful trade practices and look forward to seeing a level playing field restored.” On January 25, the APPC filed petitions to stop paper plate producers in China, Thailand, and Vietnam from selling dumped and unfairly subsidized paper plates into the United States. In the petitions, the APPC asked the DOC and ITC to impose duties on China and Vietnam to offset both unfair pricing and subsidies, and to impose duties on Thailand to offset unfair pricing. Now that the ITC has made its initial determination, duties could be imposed on imports from China and Vietnam as early as late April 2024, and on imports from Thailand as early as mid-July 2024. Duty evasion, absorption, and circumvention are strictly illegal. “American producers can compete with anyone in the world, but U.S. workers are suffering as a result of unfairly traded imports from these countries,” said Robert Epstein, President and CEO of APPC member AJM Packaging Corporation. “Today’s vote is a small victory for American paper plate producers, and takes the domestic industry one step closer to restoring a level playing field to the global market.” For more on the petitions, see the APPC’s press release. For more on the ITC’s investigation, see the Commission’s press release. About the American Paper Plate Coalition The American Paper Plate Coalition, representing the leading U.S. producers of paper plates, is comprised of AJM Packaging Corporation of Bloomfield Hills, MI; Aspen Products, Inc. of Kansas City, MO; Dart Container Corporation of Mason, MI; Hoffmaster Group, Inc. of Oshkosh, WI; Huhtamaki, Inc., of De Soto, KS; and Unique Industries, Inc. of Philadelphia, PA. For more information, visit https://www.ajmpack.com/, https://www.aspenpro.com/, https://www.dartcontainer.com/, https://www.hoffmaster.com/, https://www.huhtamaki.com/en-us/north-america/, and https://www.favors.com/ The American Paper Plate Coalition is represented by Adam H. Gordon of The Bristol Group PLLC, a Washington, DC international trade law firm committed to defending American industry, agriculture, and manufacturing jobs. Contact Details Elizabeth Posthumus +1 202-445-9858 elizabeth@eahstrategiesllc.com

March 08, 2024 11:50 AM Eastern Standard Time

Blackbird CEO Ian McDonough discusses 2023 achievements and launch of elevate.io

Blackbird PLC

Blackbird PLC CEO Ian McDonough joins Proactive's Stephen Gunnion with insights into the company's 2023 performance and upcoming milestones. McDonough described 2023 as a year of progress, highlighting Blackbird's significant presence in major sporting events due to its unparalleled speed and stability as a video editor. The company's technology was employed across numerous high-profile sports events, including all Tennis Grand Slams, the Super Bowl, the Women's World Cup, the Ryder Cup, and the Rugby World Cup, with plans to extend its use to the Summer Games in 2024. The discussion also introduced elevate.io, a new product aimed at the creator economy, which is a level below the professional sphere where Blackbird operates. Designed with input from 300 potential users, elevate.io targets independent filmmakers, podcasters, corporate video creators, and others within a market valued at approximately $250 billion, according to Goldman Sachs, expected to grow to $500 billion by 2027. The specific segment for tools and services is anticipated to expand from $20 billion to $180 billion by 2030. To support elevate.io 's growth, Blackbird has welcomed a new director, Anne de Kerckhove, and raised over a million pounds. The product, due for general release at the end of March, will start as a freemium model and aims to build a user community through its multiplayer and collaborative features, leveraging AWS for scalability. For 2024, McDonough foresees a pivotal period of learning from the market and community feedback to refine and expand elevate.io's offerings, with a focus on agile development based on user needs. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com

March 08, 2024 11:04 AM Eastern Standard Time

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