Decentralized lending platform Defactor Labs tokenized $100 million worth of Alpha Bonds based on the ER🔯C-3643 ꦰtoken standard, it said on Tuesday.
Small and medium-sized businesses𝓀 can get these bonds using real assets as collaterals. According to the DeFi platform, the bonds were tokenized on the Polygon MATIC network.
Defactor said th🌌e bond venture will come under the jurisdiction of Luxembourg, a🐻nd it has contacted law firm, CMS, to create the legal papers.
French Fashion House Louis Vuitton Forays Into Web3
Frenღch luxury fashion brand Louis Vuitton has unveiled its icoꦦnic trunk as a digital collectible as it forays into the Web3 world. Louis Vuitton said the VIA Treasure Trunk is a virtual version of its classic travel trunk. Its Web3 project shows the fashion industry’s growing “phygital” trend.
It said the feeling of exclusive possession in the physical world may be replicated digitally with the help of blockchain ꦬtechnology like nonfungible tokens (NFTs).
It is believed that the creation of distinct digital twins of physical objects on the blockchain has led to the emergence 🦂of the phygital trend in Web3.
Sequoia Capital Announces Split To Separate China Business
Ven😼ture capital, Sequoia, will undergo a three-way split of its business for the US/Europe, India/South East Asia, and China. The idea is to create separate divisions for America, China, and Asia markets. The decision, announced on June 6, will enable Sequoia to decentralise its back-office operations, it said. Sequoia said it will adopt a “local-first approach” to address the brand꧂ issues and the global financial complexity.
