Web3 Financial News

A partnership between Web3 payment protocol Immersve and payments giant Mastercard will allow users to make crypto payments on digital, physical and the Metaverse worlds. USD Coin (USDC) tokens — a US dollar-backed stablecoin issued by Circle — will be used to settle transactions on Mastercard’s network.

Automated systems and blockchain technology are being increasingly utilized to improve the efficiency and accuracy of the carbon market, a critical component in the fight against climate change.  

A $100 million is being earmarked for a grant program funding the development of Web3, AI and decentralized technologies in a partnership between Bosch and Fetch.ai.

The game industry has taken notice of the growing GameFi sector, which utilizes blockchain technology, and many brands have launched their own unique blockchain games. However, many of these games lack the engaging gameplay mechanics and enjoyment found in successful traditional games. Undeads aims to bring these elements to the forefront with high production values, high entertainment and replayability values not yet seen in the Web3 space.

Google-owned YouTube has appointed Web3-friendly exec Neal Mohan as its new CEO following the departure of Susan Wojcicki this week.

In the latest Crypto Stories episode by Cointelegraph, Aaron and Austin Arnold share their journey of creating 'Altcoin Daily,' a crypto content platform that has amassed millions of subscribers across various platforms.

Non fungible tokens (NFTs) started as what are essentially tamper-proof ledgers to verify authenticity and guarantee collectors’ ownership rights over artworks. However, since their emergence several years ago, NFTs have become much more than that. Now, many projects claim to seek to deliver new forms of value and utility. So far, many have centered around community building and intellectual property. As of yet though, no notable projects have tried to center their build around the potential of the core technology that is blockchain.

Decentralized finance (DeFi) has been a rapidly growing sector of the cryptocurrency industry, but it has also faced significant regulatory challenges. With regulators struggling to keep up with the pace of innovation, the lack of clarity around regulations tends to create uncertainty for DeFi projects.

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR Government) announced on Feb 16 that it had issued HK$800 million in tokenized green bonds, under the Government's Green Bond Program (GBP). The bonds were underwritten by four banks and priced at a yield of 4.05%.

Blockchain video delivery network Theta Labs has partnered with the artificial intelligence (AI) platform FedML to enable collaborative machine learning on content recommendation and generative AI. 

Developers of one of the earliest Android-based mobile browsers are working to bring online communication to the next level by introducing it to Web3.

Abu Dhabi's tech ecosystem has launched a new initiative with over $2 billion of capital committed to funding Web3 startups, blockchain technologies, and metaverse apps in the United Arab Emirates capital. 

Abu Dhabi's technology ecosystem, Hub71, has announced a new initiative called "Hub71+ Digital Assets," with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government, and investment partners in both global markets and the UAE.

Security is one of the biggest concerns among crypto enthusiasts, and with good reason. Cryptocurrencies, being decentralized and digital, are susceptible to various forms of cyberattacks, and digital wallets that store these assets can be easily transferred and stolen without the possibility of recovery. This has led to an increase in scams and malicious schemes aimed at stealing users’ coins and tokens.

Web3 gaming accounted for almost half of all blockchain transactions in 2022, according to a report from DappRadar. This demonstrates that gaming is the fastest-growing sector in the blockchain space at this point, well ahead of decentralized finance (DeFi) and nonfungible tokens (NFTs).

Nirmala Sitharaman on Monday said crypto assets and web3 sectors require significant international collaboration for effective implementation of domestic legislations. She said these are relatively new and still evolving sectors, with no specific regulations. «By definition, these sectors are borderless and require significant international collaboration for any specific legislation on these sectors to be fully effective,» Sitharaman said in a written reply in the Lok Sabha. The minister was replying to a question by DMK MP T Sumathy on whether the government has prepared any future roadmap to regulate virtual digital assets / cryptos/web3 sectors in the country. In reply to a separate question, Minister of State for Finance Pankaj Chaudhary said the government is engaging with G-20 countries to build international coordination on regulating crypto assets.

German engineering and technology giant Siemens has become one of the first companies in Germany to issue a digital bond on a public blockchain, worth €60 million, with a maturity of one year, in accordance with Germany’s Electronic Securities Act.

Digital asset platform Bakkt has announced its plans to shift its focus to B2B technology solutions. The company said it will soon be sunsetting its consumer-facing app, which was designed to give users the ability to utilize their digital assets in different ways. The app, launched in March 2021, offered a user-friendly experience that brought together various digital assets, including cryptocurrencies, loyalty points, and gift cards.

Small esports tournament organizers have started dabbling in blockchain tech to host tournaments and distribute prize pools. However, don’t expect to see it in the big leagues just yet, says an investor.

On Feb 10, cryptocurrency exchange Binance announced a major upgrade to its proof-of-reserves verification system, saying it would now incorporate zk-SNARKs — a cutting-edge technology Binance reports will allow it to verify its reserves in a more secure, transparent manner.

As the world moves toward a more digital future, the concept of Web3 and its potential to revolutionize the internet has become a hot topic in the tech industry. In this interview, SafePal CEO Veronica Wong, shares her insights on the future of Web3 and the current state of the crypto market.