Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
In a care[...]
Category Archives: Online Funding / Investing Campaigns
Toronto’s Most-Visited Online Casino Games
April 1, 2025
Image: Freepik/DC Studio
Online platforms have gradually become a major part of entertainment in Toronto. Many players explore digital libraries filled with various options, replacing the experience of physical venues. The range of online casino games has grown rapidly, giving players access to tables, reels, and studios from their own devices. A few titles and game types stand out as the most visited, based on player traffic and game features.
Slots with Popular Mechanics and Features
Slot machines are among the most visited online casino games in Toronto. These games usually use RNG (Random Number Generator) systems and offer mechanics such as free spins, bonus features, or expanding wilds. Themes vary from mythology to sci-fi, offering choices for many preferences.
Slots like Big Bass Bonanza, Legacy of Dead, and Starburst have steady traffic. Players can also try newer slots such as Wings of Horus and Witchy Poppins. These games often divide symbols into categories and use combinations like multipliers or scatter triggers to enhance gameplay. Slots are grouped by their volatility and hit frequency, which makes each spin carry different weight depending on the selected title.
Live Casino Studios and Broadcast Games
Live dealer studios bring a different type of engagement. These sections are visited frequently by Toronto-based players, especially those interested in blackjack, roulette, or game show-style tables. These games are streamed live with real dealers. The goal is to create a bridge between traditional and online gameplay.
The platform offers multiple tables with varied limits and table designs. Gold Saloon tables feature live roulette and blackjack hosted by Evolution Gaming, including versions like VIP Extra, VIP, and Freebet Blackjack.
Players often visit this section during evenings when most tables are active. There are also TV-themed tables based on entertainment formats that allow participation without pre-qualified status or prior achievements. These games are structured to match standard casino rules but with visual additions.
Table Games: Digital Blackjack and Roulette
Table-based casino games such as blackjack, roulette, and baccarat are available with RNG outcomes, meaning they are software-based rather than streamed with live dealers. They allow faster play, and some versions are available at all hours without wait times. The player interacts with cards or wheels through a digital interface.
Titles in this category include European Roulette, American Roulette, and Blackjack Classic. Some blackjack versions use side bets or multiple decks, while roulette games may include racetrack layouts and betting histories. These games offer clear rules and direct outcomes, making them suitable for shorter sessions or learning basic game mechanics.
Game Types Based on Player Activity and Demand
Certain games see more visits because of trends, past popularity, or seasonal updates. In Toronto, demand has been high for Megaways slots and crash-style games. Titles like Gonzo’s Quest Megaways and Buffalo King Megaways consistently appear in rotation across user profiles. These slots use expanding reels and dynamic paylines to change outcomes with each spin.
Other games include digital versions of poker, such as Casino Hold’em or Double Double Bonus Poker. Table variants and digital card games are sometimes revisited by users who alternate between fast and slow-paced games. This section grows steadily with every new addition to the library.
Bonuses and Game Access Options
Toronto players tend to explore casino games more actively when different access points are available. This includes demo versions of slots and tutorials for table games. Demo versions are offered for many titles, allowing trial spins without balance changes. These versions match the full version in appearance but cannot be used to place real wagers.
See: A Look Inside 2024 DIY Investing Trends in Canada
Bonus categories also influence game visits. Welcome bonuses are most often linked to slots, while cashback is sometimes tied to table games. Some users access game categories through VIP-level perks, which grant additional features or versions of standard games. There is also a separation between regular games and progressive jackpot titles. Progressives offer pooled prize options and appear in a separate section of the library.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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The Most Popular Casino Games Among Canadian Players
March 31, 2025
Image by millerjo via Pixabay
Canada has embraced online gambling with enthusiasm, and players across the country are logging in daily to test their luck and skill. With hundreds of platforms to choose from, Sol Casino has emerged as one of the favorites among Canadians—thanks to its rich game variety, secure environment, and CAD-friendly features. But what games are Canadian players most drawn to? Let’s explore the top casino games dominating the online gambling scene in Canada.
1. Online Slots: The All-Time Favourite
Slots remain the most played games among Canadians. With their fast-paced gameplay, stunning graphics, and huge potential payouts, it's no surprise they take the top spot. Players can choose from classic 3-reel slots to advanced video slots with bonus rounds and progressive jackpots.
At Sol Casino, Canadian players have access to hundreds of slot games from top providers like Pragmatic Play, NetEnt, and Play’n GO. Popular titles include Book of Dead, Gates of Olympus, and Big Bass Bonanza. The combination of exciting themes and fair RNG systems keeps players coming back for more.
2. Blackjack: Skill Meets Strategy
Blackjack is a long-time favourite in Canada due to its low house edge and strategic depth. Players who take time to learn basic strategy can increase their chances of winning, making it one of the more skill-based games on any platform.
Sol Casino offers several variations of blackjack, including European Blackjack, Classic Blackjack, and Live Dealer Blackjack. The live tables are especially popular, giving Canadian users the feel of a real casino with professional dealers and real-time interaction.
3. Roulette: A Timeless Classic
Whether it’s the sound of the spinning wheel or the thrill of betting on a lucky number, roulette continues to be a top choice among Canadian gamblers. From red vs. black to betting on a single number, this game offers something for both risk-takers and conservative players.
At Sol Casino, players can enjoy multiple formats of roulette, including European, French, and American variants, all optimized for both desktop and mobile play. Live roulette is particularly appealing, offering a genuine casino atmosphere streamed in HD.
4. Baccarat: Simple, Elegant, and Fast
Baccarat has grown in popularity in recent years in Canada, particularly with the rise of online live dealer platforms. The rules are straightforward—bet on the Player, Banker, or a Tie—and the pace is fast.
Sol Casino’s baccarat tables are hosted by trained live dealers and feature low, medium, and high-stakes options, making it suitable for all types of players. The simplicity of the game, paired with quick rounds, makes it ideal for both beginners and veterans.
5. Live Dealer Games: Real-Time Action
Live dealer games are a fast-growing trend in Canada, and Sol Casino is leading the way with its impressive selection. Canadians enjoy the interactive nature of games like:
- Live Poker (Casino Hold’em, 3-Card Poker)
- Live Wheel of Fortune-style games
- Live Game Shows like Crazy Time and Monopoly Live
These games bring the land-based casino experience to your screen, offering real dealers, real-time outcomes, and live chat functionality.
6. Video Poker: A Blend of Slots and Strategy
For those who enjoy thinking through their moves but want faster gameplay than table games offer, video poker is a go-to option. Titles like Jacks or Better, Deuces Wild, and Aces & Faces are widely played in Canada.
Sol Casino provides several high-quality video poker games with clear rules, strategic potential, and crisp interfaces—especially appealing to players who enjoy analytical games.
Conclusion: A Game for Every Canadian Player
Canadian online casino players have diverse tastes, but certain games stand out thanks to their excitement, accessibility, and rewarding nature. From the spinning reels of slots to the strategic challenge of blackjack, and the immersive world of live dealer games, there’s something for everyone.
See: From Gaming to Gig Economy: How Canadians are Embracing New Payment Methods
With its massive game library, secure platform, and support for CAD, Sol Casino has positioned itself as a top destination for Canadians seeking fun, fairness, and variety. Whether you're a seasoned player or just starting out, you’ll find your favorite games waiting at Sol Casino.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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iGaming Conference: Gathering for the Future of Online Entertainment
March 18, 2025
Image: Freepik
Introduction
The iGaming industry is one of the fastest-growing sectors in the world, driven by innovation, technology, and changing consumer behavior. As online casinos, sportsbooks, and gaming platforms continue to expand, industry professionals must stay ahead of trends, regulations, and emerging technologies.
This is where an iGaming conference becomes essential. These global events bring together industry leaders, game developers, regulators, and tech innovators to discuss the future of online gambling.
What is an iGaming Conference?
An iGaming conference is a professional event where industry experts gather to discuss the latest developments in online casinos, sports betting, esports, and gambling technology. These events typically feature:
🎤 Keynote speeches from industry giants
📈 Panel discussions on gaming trends, regulations, and market growth
🤝 Networking sessions for operators, affiliates, and service providers
🎮 Exhibitions showcasing the latest casino games and iGaming technologies
💰 Investment opportunities for startups and gaming entrepreneurs
iGaming conferences are held worldwide, attracting thousands of attendees from different sectors of the online gambling industry.
Top iGaming Conferences to Attend
There are several must-attend iGaming conferences that bring together the best minds in the industry. Here are some of the top events:
1. ICE London
📍 Location: London, UK
📅 Date: Annual (February)
🌍 Why Attend?
ICE London is the largest iGaming event in the world, featuring thousands of exhibitors, industry leaders, and gaming innovators. It covers casino gaming, sports betting, blockchain technology, and artificial intelligence in gambling.
2. SiGMA Europe
📍 Location: Malta
📅 Date: Annual (November)
🌍 Why Attend?
SiGMA (Summit of iGaming Malta) is a leading European iGaming conference focusing on gaming regulation, affiliate marketing, and emerging technologies like VR casinos and crypto gaming.
3. G2E (Global Gaming Expo)
📍 Location: Las Vegas, USA
📅 Date: Annual (October)
🌍 Why Attend?
G2E is the biggest gambling expo in North America, covering both land-based and online gaming innovations. It attracts casino operators, software developers, and investors from around the world.
4. iGB Affiliate London
📍 Location: London, UK
📅 Date: Annual (February)
🌍 Why Attend?
This event is perfect for affiliate marketers and digital advertisers in the iGaming industry. It focuses on SEO, lead generation, and affiliate partnerships for online casinos and sportsbooks.
5. SBC Summit
📍 Location: Barcelona, Spain
📅 Date: Annual (September)
🌍 Why Attend?
The SBC Summit is dedicated to sports betting and online gaming, covering payment solutions, responsible gambling, and AI-driven betting strategies.
Why Attend an iGaming Conference?
Attending an iGaming conference is more than just a business trip—it’s an opportunity to boost your knowledge, expand your network, and stay ahead in a competitive industry. Here’s why you should consider joining:
1. Stay Updated on Industry Trends
The online gambling industry is evolving rapidly with new technologies such as:
🔹 Blockchain & Crypto Casinos – Secure and anonymous betting options
🔹 Virtual Reality (VR) & Augmented Reality (AR) Casinos – Immersive gaming experiences
🔹 AI & Big Data in Gambling – Personalized gaming and fraud detection
🔹 Esports Betting – The booming market of competitive gaming wagering
2. Network with Industry Leaders
iGaming conferences bring together:
🤝 Casino operators looking for new game providers
🎮 Game developers showcasing innovative casino games
📈 Affiliate marketers seeking profitable partnerships
💳 Payment providers offering secure transaction solutions
🏛️ Regulators & legal experts discussing compliance and licensing
3. Discover New Business Opportunities
Whether you're launching a new online casino, looking for game suppliers, or expanding into new markets, iGaming conferences help you connect with potential partners and investors.
4. Learn from Expert Speakers
Industry veterans share their insights on:
📊 Market trends & forecasts
📜 Gambling regulations & compliance
🎰 Game development & innovation
💡 Affiliate marketing & traffic strategies
5. Experience Cutting-Edge Gaming Technology
From AI-powered chatbots for customer support to live dealer studios streaming in 4K, iGaming conferences showcase the latest advancements shaping the industry.
See: The Best Payment Gateways in Canada: Top Picks for 2025
The Future of iGaming: Key Trends to Watch
The iGaming industry is constantly evolving, and these trends are set to redefine the future:
🔥 1. Rise of Crypto Casinos
More online casinos are integrating Bitcoin, Ethereum, and other cryptocurrencies for fast, anonymous transactions.
🎮 2. Growth of Esports Betting
With the popularity of games like CS:GO, Dota 2, and League of Legends, the esports betting market continues to expand.
🕶️ 3. Virtual & Augmented Reality (VR/AR) Gaming
VR casinos offer a realistic gaming experience, allowing players to walk through virtual casino floors and interact with live dealers.
🤖 4. AI & Machine Learning in Gambling
AI is being used to enhance player personalization, detect fraud, and optimize marketing campaigns.
📱 5. Mobile-First Gaming
With more players using smartphones and tablets, mobile-optimized casino platforms are now a top priority for operators.
Final Thoughts: Why iGaming Conferences Matter
The iGaming industry is one of the most dynamic and competitive sectors in the world. Attending an iGaming conference is an excellent way to stay informed, network with industry leaders, and discover new business opportunities.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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CCA Report: State of Investment Crowdfunding 2025
Report | Feb 20, 2025
Investment Crowdfunding in 2025 - Trends, Insights, and Market Analysis
Every year, Crowdfund Capital Advisors led by Sherwood Neiss, publish their annual report based on investment crowdfunding data captured and analyzed. Their report represents one of the most comprehensive views of crowdfunding markets in the U.S. and includes deal activity, trends, insights and analysis. This article shares a few highlights. Download the free 209 page PDF report for a full review of the 2025 State of Investment Crowdfunding.
See: State of UK Equity Crowdfunding Entering 2025
Investment or Equity crowdfunding continues to demonstrate that it's a powerful capital raising tool for startups and scale-ups, helping businesses access capital and driving innovation across the country. Over the past decade, it has enabled thousands of companies to raise capital outside traditional financing channels, offering companies choice.
Investment Crowdfunding's Impact Since 2016
As of the end of 2024, investment crowdfunding platforms collectively raised over $2.8 billion since inception, funding 7,894 issuers across 2,234 cities. This movement is not just about raising capital—it has created 437,000+ jobs and injected $9.5 billion annually into local economies. Since the launch of equity crowdfunding in 2016, the numbers clearly demonstrate impact and growth, with more upside to come:
- Issuers: 7,894
- Offerings: 9,376
- Cities across the United States: 2,234
- Funded capital: $2.8 billion+
- Investors: 2.1 million+
- Jobs supported: 437,000+
- Economic Stimulus: $27.1 billion injected into the economy
- Enterprise value: just under $100 billion of potential liquidity.
2024 Changing Investment Landscape
The industry has seen rapid growth, maintaining a compounded annual growth rate (CAGR) of 32.5%. It took five years to reach the first billion dollars in investments but the second billion was raised in just 23 months.
See: Public Market Challenges and Equity Crowdfunding Capital
- Total investment raised was $545.6 million, setting a new record (surpassing the previous high in 2021)
- Average amount raised per campaign was $616,000. A 29.4% increase from 2023, showing that companies are securing more funding per round
- Campaign success rates have declined from 72.7% in 2023 to 63.7% in 2024. This signals increased investor scrutiny, with funding shifting toward companies that demonstrate strong revenue potential.
- More investors are writing bigger checks with average check sizes increasing in 2024, showing a stronger interest in post-revenue businesses that have a proven track record.
- Preference for revenue-generating businesses was 64% of successful campaigns in 2024 were for companies that already had revenue, demonstrating that investors favour more established businesses over early-stage startups
Top Platforms in 2024. Who’s Leading the Market?
Investment crowdfunding markets are still competitive but a few platforms continue to lead in total capital raised (see ranking in table below)
| Rank | Platform | Offerings | Capital Raised | Investors |
|---|---|---|---|---|
| 1 | Wefunder | 276 | $268.5M | 106.4K |
| 2 | StartEngine | 169 | $83.8M | 50.8K |
| 3 | Dealmaker | 56 | $43.2M | 30.2K |
| 4 | Republic | 50 | $25.0M | 21.0K |
| 5 | Honeycomb | 138 | $9.5M | 8.6K |
Three Key Trends
1. Investor Behaviour and Market Shifts
Recently, more capital is flowing into companies with proven revenue models. In 2024, 63% of successfully funded companies were post-revenue. This is a departure from the earlier years when riskier, pre-revenue startups dominated investment crowdfunding markets.
See: How Fintechs Are Unlocking Value in Private Markets 2024
Investors are becoming more selective, resulting in larger check sizes but fewer deals being funded. This trend reflects a maturing market where investor confidence hinges on financial performance and strategic growth opportunities.
2. The Rise of AI and Fintech in Crowdfunding
Technology startups in artificial intelligence, machine learning, and fintech are attracting the highest levels of investor interest. AI firms raised $312 million in 2024 alone with fintech companies following closely behind. This aligns with broader market trends where digital transformation and automation are leading investor priorities. Also, crowdfunding platforms themselves are integrating AI tools to improve decision-making and potentially increase transparency while reducing risk.
3. Policy and Regulatory Changes
Regulation remains a hot topic as policymakers consider raising the Regulation Crowdfunding (RegCF) cap from $5M to $20M. This change could unlock larger capital raises, making equity crowdfunding a more viable option for high-growth companies. Further, discussions around tokenized securities and blockchain integration could introduce new levels of liquidity and investor participation which would further bridge the gap between private and public markets.
Key Takeaways
- Investment crowdfunding is growing fast with more than $2.8 billion raised and 7,894 issuers funded, making it a major force in startup financing.
- Investors are contributing larger amounts but being more selective, focusing on businesses that already generate revenue.
- AI and fintech startups attracted the most funding, with AI companies raising $312 million in 2024.
- Regulatory changes could expand the market, such as increasing the RegCF cap from $5M to $20M and expanding the use of tokenized securities.
- Leading platforms continue to dominate, with Wefunder, StartEngine, and Republic holding strong positions, while Dealmaker is growing in specialized markets.
The Road Ahead
Investment crowdfunding has proven its ability to democratize access to capital, stimulate job creation, and fuel economic growth. With institutional investors showing increased interest and platforms refining their strategies, the next decade will likely see even greater adoption and innovation in the space.
See: Revolut’s Crowdfunding Success from Start-up to $45 Billion
2025 is expected to bring further growth, with the number of deals projected to rise to 1,600-1,700 offerings. Artificial intelligence investment tools and tokenized securities could provide more liquidity for investors.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Holt Xchange Launches Fund I on FrontFundr
Holt Xchange | Feb 18, 2025
Image: Holt Xchange AGM 2022, Jan Arp at the podium
Holt Xchange Launches Fundraising Round on FrontFundr
Holt Xchange, a venture capital fund focused on fintech innovation, has now opened its inaugural Fund I to accredited investors (only) on FrontFundr. The fund has already raised $7,464,552 or 75% of its $10M goal. There are 90 days left to invest.
Holt Xchange is backed by over a hundred years of financial expertise through five generations of Canadians. Holt Xchange builds on the financial legacy of Sir Herbert Holt, a business leader who controlled assets 10x larger than the money in circulation in Canada. As president of RBC from 1908 to 1934, he grew the bank’s assets 15x. He also played a key role in pioneering Quebec’s energy sector, founding what became Hydro-Quebec.
Holt Xchange Investment Highlights
1. Holt Xchange is Canada's most active global fintech seed fund with 30 investments across 10 countries, including a strong focus on Canadian
2. Elite global network with 86 strategic investors (50% professional investors, 25% entrepreneurs with $100M+ exits, 25% senior executives) and 600+ fintech advisors have facilitated $250M in raised capital for portfolio companies.
3. Proven performance with portfolio companies having increased revenues 5x since initial investment. Noteworthy successes include:
- OWL.CO - Grew from a $10M valuation to $250M (5.75x unrealized multiple)
- Manzil - Shariah-compliant investment solutions managing $100M in assets (4x unrealized multiple)
- Naoris - A leader in decentralized cybersecurity (tracking a 10.5x unrealized multiple)
See: CIX 2025 Fintech and AI Startup Award Winners
Why invest now? Holt Xchange is strategically positioned to maximize returns by doubling down on high-performing portfolio companies through options, warrants, and special pricing. The fund is targeting a 2X-3X return (20% IRR potential) within its remaining <5-year lifespan.
The Fintech Investment Opportunity
The fintech industry is ready for significant growth with revenues projected to increase from $245 billion in 2023 to $1.5 trillion by 2030 (Global Fintech 2023 report, BCG). Currently, as fintech companies are experiencing lower valuations, it's potentially an attractive time to invest. Holt Xchange is making venture capital more accessible with a pre-built, diversified portfolio, lower minimums ($20,000 USD) and shorter lock-up periods. Available via FrontFundr and Fundserv, registered dealer-brokers.
How to Invest
Only accredited investors can participate in this opportunity before the 90 day window closes. For more details, visit the FrontFundr campaign page.
Important Disclosures and Disclaimer
This article is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Investments in venture capital funds involve significant risk, including potential loss of capital. Past performance does not guarantee future results. This opportunity is available to accredited investors only and may be subject to jurisdictional restrictions. Please consult with a licensed financial advisor before making any investment decisions.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada |
Bitcoin Hits $100K, Pizzas Now Worth $1 Billion!
Bitcoin | Dec 5, 2024
Image: Freepik
Bitcoin Passes Historic Milestone of $100,000
It finally happened. Bitcoin has crossed $100,000 for the first time ever. For those who’ve followed Bitcoin’s journey from its early days as “magic internet money” this is a historic moment that’s hard to believe.
On Truth Social platform, President-elect Donald Trump espoused '“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”.
See: Bitcoin’s Evolving: The Rise of DeFi on Bitcoin
It’s a perfect time to look back at some of the wild stories that make Bitcoin’s history and value unique. And yes, we’re going to talk about those famous pizzas!
10,000 Bitcoin Pizzas Now Worth $1 Billion
Rewind back to May 22, 2010 which is now known as Bitcoin Pizza Day. A programmer named Laszlo Hanyecz made history by completing the first real-world Bitcoin transaction. He spent 10,000 BTC to buy two pizzas. At the time, those 10,000 bitcoins were worth around $40. Today? That same amount of Bitcoin would now worth a billion dollars. Yes, that's with a B. Laszlo had no regrets though and said it wasn’t about the pizzas but about proving Bitcoin could work as a currency. And he was right, as it ignited a movement that’s now changing global finance forever.
A couple of other examples of early Bitcoin payment stories:
One of the first merchants to accept 'magic internet money' was a farm selling alpaca wool socks. People bought them for about 5 BTC a pair. At today’s price that’s $500,000 socks. Crazy!
On January 9, 2014, Overstock.com was the first major retailer to accept Bitcoin as payment. In the first 22 hours they received over 800 orders worth $126,000 in Bitcoin increasing their daily revenue by 4.3%. The value now would be worth over $12.6 million, if they held onto that Bitcoin.
A Wild Ride to $100,000
These stories would be pretty painful if you were the one who spent that amount of Bitcoin on everyday purchases but it also shows how far crypto has come. Back in the day, Bitcoin was seen as a novelty, 'magic internet money' for a geeky experiment. Today Bitcoin is considered digital gold, a hedge against inflation, and a legitimate asset class.
See: Bitcoin’s 10 Commandments: Insights from Satoshi’s Emails
Whether you’re an early believer, a recent investor, or just curious, this is a moment to pause and appreciate the journey. Who knows? In another decade we might be looking back at $100,000 Bitcoin as “cheap.” Just don’t spend 10,000 BTC on it!
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada |
Meme Coin Chaos and Wild West of Viral Tokens
Crypto | Nov 26, 2024
Image: Jut a chill guy, Phillips Banks
Meme Coins, Lawsuits, and the Intersection of Tech, Culture & Finance?
Imagine logging onto social media and seeing your favourite viral meme like a cute pet or a celebrity's name turned into a cryptocurrency. At first it might feel like a quirky corner of internet culture but beneath the surface of the world of meme coins is arguably a ticking ticking time bomb with a growing number of legal disputes, ethical dramas, and financial volatility. Welcome to the latest iteration of the wild west of crypto.
What Are Meme Coins, Anyway?
Meme coins are cryptocurrencies that draw their identity from internet jokes or cultural references. Perhaps the most famous meme coin is 'Dogecoin'. What started off as a joke ended up making headlines with soaring market caps and high profile endorsements like Elon Musk. Meme coins thrive on social media hype but their value is driven by speculation rather than solid fundamentals. While that may be part of the fun, it's also where things go wobbly.
When Meme Coins Turn Into Legal Battles and Creators Fight Back
For example, an explosive meme coin called PNUT inspired by Peanut the squirrel (500,000 social media followers) who lived at Mark Longo's animal sanctuary in New York with Fred the raccoon. On Oct 30, state officials raided Longo's home and euthanized both animals due to laws against keeping wildlife as pets. The tragic death went viral and captured global attention during the U.S. presidential election with Elon Musk saying it was 'messed up' and DJ Vance citing 'government overreach'. Well Peanut's owner Mark Longo became furious when he found out that the crypto community had minted a coin based on his pet’s story. He called it exploitation and he fired back by launching his own token, "Justice for Pnut and Fred" and threatened a lawsuit.
See: Lena Dunham’s SBF Film & Finance Pop Culture
In another example, Caitlyn Jenner, an American TV personality and retired Olympic gold medalist launched her own JENNER meme coin and promoted it but it landed her in legal trouble. Investors claimed her endorsement led to massive losses and that the coin was an unregistered security. Sad outcome considering what looked like a quick way to cash in on her celebrity status eventually turned into a courtroom drama.
And then there is the artist behind the viral 'Chill Guy' meme, Phillip Banks, was pissed that his work was used in multiple meme coin projects without his permission. As a result, he's pursuing legal action to reclaim control over his intellectual property which is a good reminder that behind the hype and humour, creators and artists are getting taken advantage of and bearing the brunt of exploitation.
Phillip Banks:
“Chill guy has been copyrighted. Like, legally. I'll be issuing takedowns on for-profit-related things over the next few days.”
Why the Legal Storm?
See: Report Insights: DIY Investors in Canada on the Rise
While meme coins are all the rage because of their ability to capture cultural excitement, their value relies on viral buzz rather than actual utility or tech advancements. So meme coins are like a moth to a flame and their massive rise in popularity has created a perfect storm of legal challenges:
- Meme coins often use viral content without asking permission from the creators. This is intellectual property theft.
- Some meme coins are just 'scams and hype tricks' to get people to buy in, only for their value to crash later or a live rug pull, leaving investors with big losses.
- Authorities like the SEC are cracking down on meme coins that act like unregistered investments.
Closing Thoughts
Meme coin tokens are changing the way we think about value, culture, and technology but they shine a light on the cracks and darker corners of crypto where there's an obvious need for better safeguards, clearer regulations, ethics and accountability, and more informed investing.
See: U.S. Bets Big On Crypto and What It Means for Canada
They are a magnet for both innovation and controversy. Some meme coins will mature into legitimate assets but most will be the digital Wild West of crypto. Stay safe and be aware.
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