Web3 Financial News

Blockchain development has come a long way since the introduction of Bitcoin (BTC), the leading cryptocurrency and the first successful application of blockchain technology. The introduction of smart contracts by the Ethereum blockchain gave birth to potential use cases for blockchain both within and beyond the finance world.

Salesforce, a customer relationship management software firm announced the limited release of Salesforce Web3 on March 15. The company said it will be a platform that helps companies create, manage, and deploy non-fungible tokens (NFTs) in a trusted, scalable, and sustainable way. The service will allow brands connect with their customers in a whole new way by integrating their Customer 360 with Web3 data, in order to help brands gain a comprehensive understanding of how customers interact with their brand across traditional and emerging digital environments.

Credit rating agency Moody's, has recently downgraded its outlook on the entire US banking system from "stable" to "negative." The move comes in light of recent bank failures of Silicon Valley Bank, Silvergate Bank, and Signature Bank, which has prompted regulators to intervene with a rescue plan for impacted depositors and institutions. 

DeFiance Capital has reportedly raised $100 million for its liquid token fund.

Across the globe, women creators and founders in Web3 are building communities and innovating to help other women create wealth and have ownership and integrity over their work. At the same time, humanitarian efforts within the crypto space are evolving and gaining traction thanks to decentralized finance. Through the rise of nonfungible tokens (NFTs), generating funds for public good has become easier.

Japanese automotive brand Nissan has become the latest car manufacturer to ramp up its Web3 efforts, filing four new Web3-related trademarks filed in the United States, while its Japan unit is experimenting with auto sales in the metaverse.

digital landscape advances, the world continues to witness rapid growth of the Web3 ecosystem across the regions. However, it is common to see emerging challenges and risks in fast-growing areas. For instance, the boom of Web2 came with its own set of security concerns such as phishing attacks and data breach concerns. The nascent Web3 industry is no exception. Just as the ecosystem is evolving, Web3 cyber crimes are also getting more advanced, with criminals becoming more sophisticated with their attacks. As such, it is important that a country has a secure and stable Web3 infrastructure that can support continued growth while eliminating cybercrime and financial crime risks. The public sector, and the regulators and law enforcement agencies in particular, play a crucial role in building regulatory frameworks and setting the foundation for Web3 security in the country. Private sectors, which include cryptocurrency exchanges or data analytics companies, can supplement the knowledge and expertise to leverage blockchain technology for investigation. Therefore, through strengthened collaborations across public and private sectors, the Web3 industry can effectively develop more comprehensive security strategies to bridge existing gaps in the system while reducing its susceptibility to cyberattacks and cybercrimes. Greater integrative efforts between Web3 organisations and law enforcement agencies

Decentralized websites rely on decentralized networks rather than centralized servers to preserve and verify the data’s integrity. Decentralized websites offer a more private, secure and censorship-resistant alternative to standard websites by utilizing peer-to-peer (P2P) networking, cryptography and blockchain.

Degen Zoo, an NFT game inspired by YouTuber Logan Paul’s controversial Crypto Zoo concept, has seen more than 115,000 wallets register to join the game, with pledges of over $700 million. DAO Maker founder Christoph Zaknun took on the challenge of building his variant of the shelved zoo-themed game in just 30 days.

Although the Web3 ecosystem is rapidly evolving, the industry still faces many challenges, one of which is its lack of diversity. The underrepresentation of women in the field remains a significant concern, as their involvement is indispensable in addressing some of the critical challenges in the sector.

Cassava Network, an African Web3 platform focused on NFTs, gaming and loyalty rewards, has launched the third version of its platform, featuring an integration with non-custodial smart contract wallet Unipass to lets users use email addresses instead of seed phrase and gas.

Lawyers of Jimmy Fallon, star of NBC’s long-running comedy and variety series The Tonight Show, have filed a petition to "quash" a subpoena requiring him to testify in the Yuga Labs Inc. v. Ripps et al. case. 

The world of Web3 has opened up new opportunities for individuals to participate in a more open and transparent internet, and to create wealth. However, despite the potential benefits of this emerging technology, women face unique challenges in the Web3 space. From the lack of diversity in the industry to the gender bias in funding, women encounter significant obstacles that make it difficult for them to thrive in the decentralized web.

The world of crypto and decentralized technologies is no longer an internet niche, home to a few pioneers on the frontier of fintech. It is now a blossoming sector for people of all backgrounds, interests - and genders.

Transform Ventures has co-invested in a new holding company in what it states is an effort to accelerate blockchain investment and innovation. Alpha Transform Holdings (ATH) aims to support the blockchain ecosystem through investments via two new funds.

The world of Web3 has offered users the opportunity to recreate their digital identity, along with offering new avenues of creative expression and individuality. This is more so the case as nonfungible tokens (NFTs) become more dynamic and personalizable.

The healthcare industry, like many other industries, has begun implementing Web3 technologies to serve those in need better. Now healthcare services are even showing up in the metaverse, specifically for those seeking mental health care. 

Web3 app developer Kresus has closed a $25 million funding round to support the development of its so-called SuperApp, potentially opening the door to broader consumer adoption of digital assets. 

Last week’s ETHDenver conference highlighted a disturbing trend in the crypto industry. While not unique to blockchain, the trend of not using the products our industry creates is something that the crypto community needs to grapple with. In more mature industries, this “dogfooding” is enforced. Microsoft employees must use Outlook, Word and so on. But in early industries such as blockchain, this dynamic is still being worked through.

Amazon is poised to launch its NFT and Web3 initiative by next month, with around fifteen collections expected to be available from the launch.

Hermès International, the French luxury fashion house, has requested a Manhattan federal court to block artist Mason Rothschild from marketing or owning his "MetaBirkin" non-fungible tokens (NFTs) following a recent jury decision that found Rothschild had violated Hermes' trademark rights in its famous Birkin bags, as reported by Reuters.