Web3 Financial News

In this week’s newsletter, read about how Warner Music Group partnered with OpenSea to give artists a way to engage with their audiences. Find out how Tennis legend Maria Sharapova is exploring her growing interest in nonfungible tokens (NFTs) and check out how blockchain game Illuvium is trying to create an interoperable game. In other news, Meta enabled cross-posting for NFTs on Instagram and Facebook. And, don’t forget this week’s Nifty News featuring the Build-A-Bear Workshop entering Web3 and a CryptoPunk selling for 3,300 Ether (ETH) amid the bear market. 

Crypto-focused investment firm M31 Capital has launched a new investment fund dedicated to Web3 companies, further underscoring the industry’s shift toward decentralized internet projects. 

web3.0 infrastructure protocol Pocket Network has announced an upgrade to its Pocket Portal service, which would enable web3.0 developers to create accounts, mint remote procedure call (RPC) endpoints for their dapps. This will also give access to blockchain information across any of the several blockchains supported by Pocket. ‘Pay-as-you-go’ (PAYG) and ‘Always Free’ tiers are part of the recently customised Pocket Portal service plans. Developers can receive up to 2,50,000 daily data relays for their dapps under the ‘Always Free’ tier. If a dapp’s traffic requirements are higher, developers may choose a simplified PAYG plan or may seek a unique plan from the Pocket network team.Ability to create an endless number of endpoints With the PAYG approach, developers can avoid paying a large amount of money upfront for relay traffic that they might not utilise by only paying for the data relays that their dapps actually use each month.

 

With COVID-19 having accelerated the adoption of technology across frontiers, technology professionals are in demand more than before, especially in newer areas like cryptocurrency, NFTs (non-fungible tokens), and blockchain.

Miami is positioning itself as the crypto capital of the world — and over recent years, the Floridian city's become the go-to destination for summits and conferences with impact.

In this week’s newsletter, read about how a science fiction comic book uses nonfungible tokens (NFTs) to make the reading experience more interactive and how Web3 musicians view NFTs. Check out how big names like Bandai Namco, Sega and Square Enix are eyeing blockchain gaming. In other news, find out how a metaverse-focused fir- integrated NFTs within Minecraft despite its ban on NFTs. And, don’t forget this week’s Nifty News featuring the first metaverse wedding at The Sandbox.

A popular adage says that the path to success is not a straight line. Sometimes, it leads to various detours along the way, like learning about developing aircraft, being a writer, keeping an eye on Bitcoin (BTC) and exploring the blockchain space. 

Blockchain infrastructure platform Coinbase Cloud has officially rolled out its Web3 developer platform, allowing users to build new decentralized applications free of charge. 

Web3 payments platform Fuse has partnered with ChromePay, an identity-based payment solution, to launch a new suite of payment products in Africa — a move designed to boost financial inclusion on the continent.

Starbucks, the world's largest coffeehouse chain, is diving into the Web 3 and non-fungible tokens (NFTs) space with plans to launch a blockchain-facilitated loyalty program called Starbucks Odyssey. 

The future for crypto remains very bright. That’s according to the CEO of Ledger, Pascal Gauthier who sat down for a tête-à-tête with Cointelegraph in his home country, France. Gauthier, who enters his eighth year working at Ledger, explained that the recent downward price action in Bitcoin has not brought interest in crypto to a standstill:

Highly anticipated medieval strategy massively multiplayer online (MMO) game Blocklords is out, unraveling iconic characters, pitched battles and engrossing drama. A genre-defining grand strategy game of MetaKing Studio, Blocklords introduces players to a universe where players' actions have a bearing on their characters, other players and the medieval world around them. 

As crypto evangelists and investors adapt to Indian tax rules and operational protocols, and the virtual currency market stabilises, the focus has now shifted to the much-talked-about Web3 space. Experts say with India having a large number of retail crypto customers and Web3 developers, it’s in a unique position to play a key role. A quick 5G rollout and government support will boost India’s play, Partha Sinha reports… Two months after the crypto crash, the virtual currency market is showing signs of stability with the price of Bitcoin, the oldest and the most popular one, hovering around the $20,000-mark for weeks now. In India, crypto exchanges, facilitators, and investors are adapting to new tax rules and operational guidelines. With talks of an existential crypto crisis mitigating, tech entrepreneurs and developers who are in the Web3 space are once again becoming hopeful. According to industry leaders, India has played a key role in the Web2 space globally. While Web 2 are websites and applications that make use of user-generated content like Facebook and Wikipedia, Web3, at its core, uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership of digital assets. Thoughthese are early days, there are indications that Indians will once again play an important role in the development and growth of Web3, metaverse, and the blockchain space, say industry experts.ENTER YOUNG ENTREPRENEURS Did you Know?From tracking sustainability

Australians may not ever see their nonfungible tokens (NFTs) take them “to the moon,” but they might be able to get to the next best place — the edge of space.

With more institutions joining the Web3 space, regulation has been identified as one of the trickier challenges that can either smother creativity or become a potential catalyst to broader adoption. 

Cryptocurrency entrepreneur and Polygon founder Sandeep Nailwal has raised $50 million for a new startup fund dedicated to Web3 companies, underscoring venture capital’s growing interest in the blockchain-powered internet. 

You’ve no doubt heard the expression, follow the money. Well, if you do that in the venture capital world, you’ll be led directly to crypto, blockchain and digital assets. After a modest summertime lull in venture financing, this week saw the announcement of two massive raises worth a combined $500 million. That’s $500 million VCs are allocating to crypto-focused startups at the intersection of Web3, blockchain infrastructure and decentralized communities. 

Nonfungible tokens (NFTs) have been part and parcel of the cryptocurrency space for the last couple of years. Still, their value and utility across several industries have driven their proliferation into mainstream consciousness.

Typically a lagging indicator of the sector’s health, the explosion of venture funding in the blockchain sector in 2021 and the first half of 2022 appears to be cooling off after seven consecutive sectors of growth. According to Cointelegraph Research, inflows in the blockchain venture capital market have declined by 43% month-on-month in July 2022.

Shima Capital, a new venture firm focused on early-stage blockchain projects, has launched its debut fund to support emerging digital asset companies — and has received considerable backing in doing so.