AkuDreams dev team locks up $33 million
AkuDreams is a company we should all be familiar with by now. The AkuDreams dev team has been working on the platform for years, and it’s finally here.
After years of dreaming about the future of virtual reality, the AkuDreams dev team has brought its vision to life in the form of a blockchain-based VR chat room. This revolutionary platform has been lovingly crafted to offer users unprecedented control over their chat experience.
AkuDreams is a blockchain-based organization that hosts, stores, and sells non-fungible tokens (NFTs).
AkuDreams is also a company in the business of creating experiences, or AkuDremas, for their clients and customers. AkuDreams emerged from a desire to create new ways to bring people excitement and joy while also increasing employee engagement and morale. Their target audience is anyone who wants to be part of the experience, which means anyone at all.
The goal of AkuDreams is to change the way people think about work by creating experiences that are fun, memorable, and exciting. Most employees consider work to be something they do to get money rather than an enriching part of their lives. AkuDreams works with corporations to help them create environments where employees are happy and engaged with their jobs, rather than feeling like they are just a cog in the machine.
AkuDreams has created a variety of dreams: A moop dream for those who like to collect trash across the city, a zoo dream for those who want to work with animals, and a book dream for those who want to write books about dragons. AkuDreams hosts NFTs on their website. In order to host an NFT with AkuDreams, you must first create an NFT through the AkuDreams platform. Once you have created your NFT and submitted it for inclusion in the catalog of hosted tokens, the AkuDreams team will review and approve your token, and it will be available for sale on their website.
If you have purchased an NFT from AkuDreams, you can store it there for free for as long as you’d like. If you’d prefer to store your NFT elsewhere, you can also download your tokens from the AkuDreams website as many times as you would like at no cost.
You can buy and sell NFTs that have been created with AkuDreams in the same way that one might buy or sell any other piece of digital art. While the process of buying and selling an NFT may not look different from traditional e-commerce, the underlying mechanics are unique: buyers and sellers interact directly with each other on AkuDreams’ platform rather than going
Akudreams is a decentralized gaming platform, built on Ethereum smart contracts, that launched on Wednesday with 14 games. The games included AkuCards, a game that allows players to create and trade ERC-721 tokens based on the cards from Hearthstone; AkuRPS, which allows players to bet ether on whether or not their hand beats their opponent’s; and AkuSquares, which is similar to Farkle.
An AkuDream is a nonfungible token (NFT) that immortalizes the dreams you choose to upload. It’s something that can be collected, swapped, and auctioned off.
When you purchase an AkuDream, you’ll be able to trade it with other users on the AkuDreams platform. You can also participate in auctions of rare or unique tokens. To protect your investment, you’ll be able to ensure that your NFTs are stored safely on the Ethereum blockchain—we won’t let just anybody have access to them! In order to view your collection and use the platform, all you need is an internet connection.
How does it work?
AkuDreams will use deep learning algorithms to create a digital representation of the dream that can then be turned into an NFT. If a user wants their dream tokenized, they can upload it through our app or website, and we’ll make it happen! After uploading their dream as either text or audio/video file format (we have formats for both), they’ll get back an encrypted AkuDream token that is stored securely on Ethereum’s public blockchain network using Metamask wallet integration technology so there’s no chance of losing any data whatsoever.
AkuDreams recently released a new product, the Amethest.
The Amethest is a virtual reality (VR) headset that can be used to help with depression. The headset uses augmented reality (AR) technology to create a simulation of beautiful tropical beaches where users can go to relax and interact with others who are also wearing the headsets
The idea for the headset came from a group of friends who wanted to help their friend who had committed suicide due to his depression. The team is made up of engineers, designers, and psychologists
They worked on their idea for a year before beginning to discuss it with investors. They had planned on using the money to create more headsets that will be able to help more people.
AkuDreams may not be perfect—in fact it clearly isn’t—but it is an example of what can happen when a lot of really smart people come together to create something awesome!
The AkuDreams dev team recently announced that $33 million had been invested into the platform through its initial coin offering (ICO). The money raised will be used to fund further development and expand the capabilities of the platform.
According to the announcement, $34 million was just the beginning. In fact, the company expects to raise much more money as they continue developing new features, such as avatar customization, accessibility options, and companionship.
The virtual gaming company, has locked up $33 million in ethereum due to a bug in the smart contract that was written for the beta launch of their newest game. The company’s developers were unable to access their funds through their wallet due to the bug. The developers can’t find the problem and they seem to have lost all hope, but some people are still trying to help. The virtual gaming industry is still very new and it’s hard to say if companies will be able to recover from this kind of mistake.
The bug was recently discovered by an anonymous programmer who submitted the information to the company’s bug bounty program and shared it with other developers on GitHub.
The bug was found in the code for a limited-edition game called “AkuGa.” The game required players to pay using AkuDreams’ cryptocurrency token, ADR.
AkuDreams explained that they didn’t notice the bug because they were focused on developing a new platform while simultaneously working with their existing games.
Akudreams stated that it would be difficult to fix the bug because every time ADR is transferred between users, it triggers the bug. Akudreams is currently reviewing possible solutions.
Due to the bug, the team’s tokens were locked when they tried to launch the company’s decentralized game, AkuDreams.
The company issued a statement explaining the situation:
“We regret to announce that due to a bug in our smart contract we have lost all of our initial funding. Our funds are currently frozen in a state where we cannot withdraw them until we fix the issue. We have already contacted independent security experts who are helping us locate and fix this issue. We will make another announcement once this issue has been resolved.”
The team said it was working to resolve the issue as quickly as possible.
Meanwhile, blockchain security firm BlockSec has disclosed what it believes to be the two primary weaknesses in Aku Dreams’ contract. According to BlockSec’s investigation, the first problem derives from defective coding in refund processing. However, the analytics firm affirms that this has not been used thus far.
Second, BlockSec highlights a software flaw, which should allow the project owner to claim payments that are locked in the contract.
According to the analytics firm, the contract should now be able to handle all refund claims. Allow the developer to withdraw payments after that. However, as a result of this erroneous code, the contract now believes that total refund bids are more than the amount locked in.
The contract has been locked in. As a result, the contract has put a halt to withdrawals indefinitely.
Conversely, social media users have voiced their dissatisfaction, questioning how a project like Aku Dreams could have flawed contracts. BinBits also observed a same event with a recent NBA’s Association NFT mint this week.
So far, numerous developers have offered to assist in the recovery of the missing monies. However, it remains to be seen how, or if, this will be achieved. What is known is that the smart contract governing the funds cannot be modified. As a result, the monies will be frozen for the foreseeable future.
This was a project that had a lot of attention, fanfare, and good intentions. They did some good things, but they overlooked all of the technical aspects of the project and it resulted in an overly complicated smart contract which the team did not understand.
As a result of this disaster, the fears of “unwarranted FUD” have materialized to become substantiated, deserved criticism. While we should be mindful of Hanlon’s Razor, we need to ask ourselves why high-profile projects often end up delivering such stressful experiences.