Fundraisings of the Week
‘Alternative Internet’ Builder Tomi Raises $40M to Attract Content Creators
A16z Leads $40M Funding Round for CCP Games
Crypto Exchange Bitget Invests $30M in Digital Wallet BitKeep
OP3N raises $28M to build ‘WhatsApp meets Amazon’ for web3
Crypto Trading Firm Auros Secures $17M Investment as It Recovers From FTX Woes
Gryfyn Custodial Wallet: Animoca Brands & Hex Trust’s Joint Venture
Web3 middleware platform Particle Network raises $7M
Aspecta nabs $3.5M to build AI-vetted coder profiles
Ethereum-Based Carbon Tracker Carbonable Raises $1.2M to Tackle Greenwashing
Narwhal Finance secures $1M in seed funding led by Animoca Ventures
DeFi
Weekly TVL
Gross: ⬆️$49.29B
Top 3 Apps: Lido ⬇️($10.46B), MakerDAO⬇️($7.61B), AAVE ⬆️($5.59B)
Top 3 Chains: ETH ⬇️($28.79B), TRON ⬇️($5.21B), BSC ⬆️($5.1B)
Top 7D Change 📈: Dexes on arbitrum — Arbitrum Exchange (+500%, $143.84m)
DeFi News
[Magic Eden on Bitcoin] Multichain NFT marketplace Magic Eden expands to Bitcoin, enabling users to trade Bitcoin NFTs without paying royalties (for now).
[Coinbase Received SEC Wells Notice] The SEC sent a Wells notice to Coinabse regarding Coinbase’s listed digital assets, including staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet after a cursory investigation.
A Wells Notice is a notification issued by regulators to inform individuals or companies of upcoming enforcement actions. Coinbase states they will contest any enforcement in court.
[Do Kwon Arrested] Do Kwon, the key person behind the Terra LUNA, was reportedly arrested Thursday at an airport in Montenegro after he was caught using falsified documents to evade capture.
[Telegram USDT Transfers] Telegram now supports TRC-20 USDT, allowing users to buy/sell/transfer USDT using the in-app wallet bot.
NFT
Top 10 Collections by Weekly Volume
NFT News
Mar. 24, Digital fashion studio XLABEL has signed a licensing deal to bring Tarzan into the world of web3. XLABEL and X2Y2 will launch a Tarzan NFT collection, with plans to integrate the character into various third-party blockchain-driven metaverse games and platforms. The Tarzan NFTs will be compatible with Unreal Engine. [Source: Decrypt]
Mar. 24, An email from an official Amazon account appears to confirm the existence of digital tokens and a gallery on the e-commerce platform. This provides new insights into Amazon’s plans for Web3 expansion and hints at where these new tools might live on the platform. Rumors have been swirling for weeks that Amazon is planning to release its own NFT marketplace soon, though Amazon has not yet commented publicly on the reports. [Source: CoinDesk]
Mar. 22, Balmain has launched an NFT sneaker collection called the Unicorn Phygital Wearable Collection. Each NFT comes with a matching physical shoe and perks such as early access to future Balmain products and digital wearables. The NFTs were created in collaboration with Space Runners, and the collection includes five unique designs priced between $1,595 and $2,095. [Source: Decrypt]
Mar. 22, Nexon is teaming up with Polygon to enable NFTs in its massively multiplayer online game MapleStory Universe. Players will be able to develop and manage NFTs through gameplay, powered by Polygon’s Supernets. This marks a departure from many large gaming companies, and Polygon has also partnered with other industry giants, including Square Enix and Cloud9. [Source: The Block]
Mar. 21, The US IRS may subject NFTs to capital gains tax rules by treating them as collectibles, potentially affecting retirement plans. The IRS and Treasury Department have requested feedback on the proposal, which marks the first move to clarify digital asset tax treatment. The IRS updated its tax forms in October to include NFTs and cryptocurrencies. [Source: CoinDesk]
Mar. 21, Sony Interactive Entertainment filed a patent to allow NFTs to be transferable between different games and consoles, including virtual reality headsets and smartphones. The patent also covers NFT use for achievements and tournaments, and being interoperable with other gaming ecosystems. Sony has been making moves to grow its presence in the Web3 space, including partnerships and testing blockchain-based products. [Source: CoinDesk]
Mar. 21, Magic Eden is launching a fully audited Bitcoin NFT marketplace to allow traders to list, purchase and sell Ordinal NFTs. The company is integrating support for Bitcoin wallets Hiro and Xverse to help collectors purchase inscriptions, or non-fungible tokens minted on satoshis within the Bitcoin network. Magic Eden is teaming up with popular Ordinal collections Taproot Wizards, Inscribed Pepes and Bitcoin Bandits to help onboard users to Bitcoin-based NFTs. [Source: CoinDesk]
GameFi & Metaverse
[CCP Games raises $40M for new triple-A Web3 game] CCP Games, creators of sci-fi spacefaring MMO EVE Online, announced that $40M has been secured from external partners. This financing will allow CCP Games to build upon the discoveries of its research & development team to enable the full-scale development of a new AAA game. A16Z led the round, with participation from Makers Fund, Bitkraft, Kingsway Capital, Nexon, and Hashed.
[Web3 game Aavegotchi raised $30M in multiyear token sale] Pixelcraft Studios, the creators behind the popular metaverse game Aavegotchi, said that it raised $30 million in a multiyear token sale. The funding round is said to be one of the largest in the Web3 gaming sector with no venture capital or investor participation.
[Metaverse builder LandVault announces strategic funding round] LandVault has announced its strategic funding round with several Web3 firms, including The Sandbox, a leading metaverse platform backed by Animoca Brands and Softbank, the Gemini Frontier Fund, HodlCo, and Kingsway Capital, a $3B hedge fund and a large shareholder in Animoca Brands. This comes after LandVault raised a total of $37 million, the last round being a $25 million Series B in November 2021.
[Hadean raises $5M for metaverse infrastructure solutions] Hadean has raised an addition $5 million in funding for the build-out of its metaverse infrastructure solution. The new funding adds to the company’s previous Series A round, where it raised £30 million last September. The funding will help support bigger, more immersive virtual worlds. Ericsson Ventures, Metrea Discovery, VU Venture Partners, Sanctor Capital and Tirta Ventures all contributed to the additional funding.
[Bored Apes owner Yuga Labs launches 2nd Trip Otherside metaverse experience] Bored Ape Yacht Club parent company Yuga Labs launched its Second Trip for its Otherside universe as a new “metaverse” experience. The company launched the experience with many thousands of simultaneous users. Yuga Labs is among the contenders trying to create an experience in metaverse, the universe of virtual worlds that are all interconnected.
[Blockchain game startups for Web3 Games Collective] Four blockchain game startups have formed the Web3 Games Collective to leverage their expertise in creating a wave of breakout blockchain games. The members of W3GC include Yield Guild Games (YGG), Game7, Magic Eden, and Fenix Games. The companies made the announcement at the Game Developers Conference.
[Magic Eden eyes growth in web3 gaming following launch of Magic Eden Games] The cross-chain NFT marketplace Magic Eden has launched its long-anticipated gaming hub, Magic Eden Games. Magic Eden Games is on a mission to assist gamers in uncovering the finest web3 gaming experiences. Every game on their platform is given a dedicated “explore game” page captivating videos, and an NFT marketplace specific to the game.
[South Korean Nexon to use Polygon for popular MapleStory Universe] South Korean gaming studio Nexon will run a Polygon supernet to bolster the in-game offerings of its popular NFT game MapleStory Universe. A dedicated Polygon supernet allows Nexon to customize a blockchain to meet the complex requirements of online gaming.
DAO
[zkSync Era mainnet launched] Among all the zkEVM players, zkSync Era became the first to reach mainnet. Even though extensive security check on code has been done in preparation for the launch of the mainnet, many monitoring and risk mitigation mechanisms were added at the mainnet alpha stage such as delaying withdrawals, Permissioning ZK proof submission, and security council.
[Aave community is voting for “temp check” to deploy an MVP version of Aave V3 on zkEVM L2] The zkEVM mentioned specifically was Polygon zkEVM, since the L2 is still in mainnet beta. Thus the proposal also suggests to limiting asset onboarding and setting conservative risk parameters.
[Starknet alpha v0.11.0 is live on Testnet] The testnet bootstrap is the key step for mainnet where developers can test out Cairo 1.0 smart contract.
[Coinbase rollup, Base announced Ecosystem Fund] Base started a program to fund early projects building on the network and requesting a few critical areas to explore: Flatcoin, Onchain Reputation, Onchain Limit Order Book Exchange, and Safer Defi.
[1inch passed the proposal to fund NFT Marketplace MVP] The proposal requests $387,022 to deliver an NFT Marketplace platform to the 1inch Network, it is a bold movement for the protocol to expand its services and revenue channels.
Regulation & Adoption
- 20/03/2023: (🇺🇲) JP Morgan leads talks to bail out stricken First Republic Bank.
- 22/03/2023: (🌍) Telegram users can transfer USDT in-app.
- 23/03/2023: (🇺🇲) SEC sues Tron founder Justin Sun.
- 23/03/2023: (🇷🇺) Russia to adopt digital ruble bill in April.
- 23/03/2023: (🇲🇪) Terra founder, Do Kwon reportedly arrested in Montenegro.
Macro
- FED, ECB, BoE, BoC and BoJ, to open swap lines to boost US dollar liquidity.
- Saudi National Bank loses over 1bn USD on Credit Suisse Investment.
- UK Inflation surges to 10.4% in February. BoE raises interest to 4.25%.
- FED hikes rates by 25bps.
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