Insurance in the Metaverse

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Daily Capsule | 31st May 2022 Hello Readers, With blockchain tech increasingly integrated into the virtual world/Metaverse-building efforts, there is a rising need for identifying, mapping, distributing, and monetising Web3 digital assets. For entrepreneurs Yash Dahenkar, Abhishek Singh Rajpurohit, and Kuntal Ganguly, this spelt an opportunity to address the problem by creating a unique system for serial identification of Web3 content. In 2021, they launched AcknoLedger, a project that deploys its Universal Content Number Scheme (UCNS) to Web3 assets across a range of NFT and Metaverse ecosystems it has partnered with. So far, AcknoLedger claims its beta product is seeing traction of around 15,000 monthly users. The project has partnered with over 100 Metaverse and gaming platforms for tracking digital assets. Read more. Here are other highlights of today's Daily Capsule: The Interview: Menstrual hygiene Editor's Pick: Zepto bets big on cafes  Startup Spotlight: Urban Khichdi  News and updates and more… The Interview  On World Menstrual Hygiene Day, Miss World CEO Julia Morley, Miss World 2019 Toni-Ann Singh, Miss World America Shree Saini, and Aakar Innovations Founder Jaideep Mandal talked about creating low-cost menstrual pads and raising menstrual hygiene awareness. Editor's Pick:  Zepto bets big on cafes  Zepto saw its valuation soar to $900 million in less than nine months since launch. With a café pilot and a private label plan, the startup now aims to get a bigger share of the quick commerce pie in India.  Started in Mumbai last month, Zepto Cafe delivers coffee and snacks within 10-20 minutes. These products are sourced from brands, including A1 Samosa, Chaayos, Blue Tokai, and The Sassy Teaspoon.  Read more. Startup Spotlight Khichdi is the new biryani Founded in 2018, Urban Khichdi has rolled out three brands and operates seven outlets in Gujarat. The startup raised its first round of funding of Rs 2.5 crore in September 2021, and plans to foray into cities such as Bengaluru, Pune, and Gurugram. Read more. The CapTable For Cred, the real bounty lies in lending game The fintech unicorn is doubling down on its lending business by forming partnerships and taking direct loan exposure. With financial services and ecommerce, Kunal Shah is shaping Cred's super-app ambitions amid a tough macroeconomic climate. Will it work? Continue Reading News & Updates Life Insurance Corporation of India (LIC) has reported a 17.4 percent decline in net profit for the fourth quarter of FY22, and announced an interim dividend of Rs 1.50 per share. It reported a net profit of Rs 2,409.39 crore. Hobby learning startup FrontRow laid off about 145 employees—about 30 percent of its workforce—citing tough 'market conditions'. Confirming the developments to YourStory , co-founder Ishaan Preet Singh said the layoff primarily impacted the sales team.  Internet conglomerate Info Edge (India) reported a consolidated income of Rs 2,029.4 crore in FY22 , growing 59 percent on a year-on-year basis. The company also reported a profit of Rs 12,882 crore in FY22, which was nine times its FY21 profit. Mumbai-based PayMate India, a B2B payments and services provider, has filed its Draft Red Herring Prospectus (DRHP) with markets regulator, Securities and Exchange Board of India (SEBI), to raise around Rs 1,500 crore through an initial public offering (IPO). Read more Startup Funding: Deals of the day Startup Amount Round ShareChat $300 million Series H Nutrifresh $5 million Pre-Series A In Case You Missed It* *A roundup of interesting stories from global media organisations; YourStory has not verified this content and does not vouch for its accuracy SoftBank Group Corp trimmed borrowing from its main bank Mizuho Financial Group Inc  by 4.5 percent in FY22 to 812 billion yen ($6.38 billion), a filing showed. Borrowing from JPMorgan Chase & Co fell 23 percent and from Goldman Sachs Group Inc by 39 percent. The new Terra 2.0 (LUNA) crypto asset dropped by nearly 80 percent  immediately after founder Do Kwon announced its launch. The new altcoin was airdropped to holders of the old LUNA following its collapse after the Terra community voted for the genesis of a new blockchain. India is reportedly probing the local units of ZTE Corp and Vivo Mobile Communications  for alleged financial improprieties. The Ministry of Corporate Affairs has received information from unnamed sources that indicate potential violations, including fraud. Brand Spotlight Each shopper comes with different purchase intent - some are still in the research stage and some have high purchase intent. To understand this better,  Namogoo and YourStory present the webinar 'Increase revenue with AI recommended promotions personalised to your customers'. Register now. Final call for startups applying to the K-Startup Grand Challenge 2022 offers prizes totalling $320,000 and an incredible government-backed acceleration opportunity for your startup in Korea. Hurry, the application window closes on May 31, 2022. Apply here.  The roundtable 'The new normal with flexible work solutions' offered insights into the current workplace scenario and the technology trends that companies are leveraging today. Read on. The last few years have been momentous for the Indian startup ecosystem. As Indian startups continue to prosper at home, the question arises – how many of them are equipped to gain traction outside India? Can the success model at home be replicated globally? Catch the latest episode of HSBC's all-new roundtable series 'Scale to Succeed' themed 'Startups scripting success stories beyond boundaries' where we speak to entrepreneurs and HSBC leaders, as they ponder on opportunities in markets outside India. Before you go, stay inspired with... — Manish Chowdhary, Co-founder WOW Skin Science "Good business will invite great partners and funding." We want to hear from you. Tell us what you think of this newsletter and what else you'd like us to explore. You can reach us at editorial@yourstory.com. If you don't already get this newsletter in your inbox, please sign up here . You can also read past issues of this newsletter here . Download the YourStory App Don't forget to follow us to get updates on the go

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