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High-Speed Freight Link Hyperloop One To Shut Down

The high-tech transportation system was planned to connect Europe and China.

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high-speed freight link hyperloop one to shut down

Founded in 2014 with the goal of building a high-speed freight link between Europe and China, Hyperloop One is reportedly shutting down.

Following a paper in 2014 by Elon Musk about his vision for hyperloop transport systems, the project intended to carry cargo along the length of its route in just a single day. The company planned to carry cargo and people in pods traveling through sealed metal tubes at aircraft-like speeds.

From 2017 until 2022, the company was known as Virgin Hyperloop One due to an investment from Richard Branson’s Virgin Group. However, Virgin pulled out last year when Hyperloop One decided to abandon plans to transport passengers. The company has now laid off over 100 staff members due to its change in priorities.

Also Read: Aramex And Regent To Develop Electric Seagliders

According to news outlet Bloomberg, Hyperloop One never secured a contract to build a working hyperloop system, and all remaining employees will be gone by December 31.

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LUVED Is A New Curated Preloved Marketplace For The UAE

Sellers keep 100 percent of every sale and AI can build a listing in five seconds — though the app’s smartest tools are still coming.

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luved is a new curated preloved marketplace for the uae

Secondhand shopping has become mainstream in the UAE, but the experience is still scattered across resale sites, social media and informal group chats. LUVED, a mobile-first marketplace that launched in Dubai this month, is betting it can pull that activity into one place — and that the thing buyers and sellers actually want is not more inventory, but trust.

The app trades in what it calls circular luxury: preloved fashion and lifestyle pieces across men’s, women’s and children’s categories, bought, sold or given away peer to peer. Its main pitch is economics, with sellers keeping 100 percent of every sale under a zero-commission, fast payout model, while buyers are promised vetted pieces at lower prices.

Where LUVED is staking its reputation is verification. Sellers pass a KYC check, and items run through a two-layer authentication system powered by Entrupy that pairs instant AI screening with human expert review for high-value pieces. Authenticity certificates travel with each item, payments sit in escrow, and a buyer-protection package the company calls The Safety Net adds a 48-hour return window and dispute resolution. Door-to-door logistics removes the in-person meetups that make most resale deals awkward.

An in-app assistant called Luvbot — offering selling insights and demand-based recommendations — is soon to be introduced to the platform. Other features include autofill and dynamic pricing that lets users build a listing in as little as five seconds from three photos, plus a swipe-based feed, story-style drops and in-app chat in English and Arabic. Finally, a gifting layer, Luved & Gifted, lets users pass items to others inside the app rather than sell them.

Also Read: Logitech’s New Folding Mouse Is Designed For Work On The Go

“After moving to Dubai, I saw how difficult it was to sell or even give things away,” says founder and CEO Shaima Sibtain. The friction is real, and so is the competition. In resale, trust is won transaction by transaction — and that is the test LUVED has set itself.

The app is live on the App Store now, with Google Play to follow. The company also plans to expand across the region, which will be the real test for a marketplace staking everything on trust.

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