Insurance in the Metaverse
AcknoLedger has built a Universal Content Number Scheme (UCNS) for Web3 assets across a range of NFT and Metaverse ecosystems. It claims its beta product has over 15,000 monthly users and use cases across 100 platforms.
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 , 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.
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
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.
Credit: YourStory Design
Startup Spotlight
Founded in 2018, 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.
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 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 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).
Before you go, stay inspired with…
WOW Skin Science Co-founder Manish Chowdhary
“Good business will invite great partners and funding.”
— Manish Chowdhary, Co-founder WOW Skin Science
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