Overview of Fundraisings of the Week
Matter Labs Nets $200M to Build zkSync Ethereum Scaling Platform
Yahaha raises $40M more for its user-generated, low-code immersive gaming platform
Startup Arkon Energy Raises $28M to Further Expand Into Bitcoin Mining
Former Meta Execs Raise $8M in Seed Funding for Web3 Startup Virtualness
Heroic Story raises $6M to build tabletop RPG platform for Web3
Zulu banks $5M for its LatAm digital wallet amid shaky ground for crypto
FTX and Avalanche co-led $5M round for Joepegs NFT marketplace
Yakoa raises $4.8M to help detect NFT fraud for platforms and creators
Anode Labs Announces Funding To Build The React Network: The First Community-Owned, Web3 Green Energy Grid
Binance Labs Invests $4M in Ultimate Champions to Accelerate Innovation in Web3 Gaming
DeFi
Weekly TVL
Gross: ⬇️$41.05B
Top 3 Apps: MakerDAO ⬇️($6.4B), Lido ⬇️($5.38B), AAVE ⬇️($4.06B)
Top 3 Chains: ETH ⬇️($23.81B), BSC ⬇️($4.85B), TRON ⬆️($4.22B)
Top 7D Change 📈: Fully composable liquidity transport protocol — Stargate (+16.81%, $327.61m)
DeFi News
[Atom 2.0 Rejected] The vote for Proposal 82 (Atom 2.0) vote has been rejected. The proposal called for a number of radical changes including Social Coordination Technology Interchain Security, Liquid Staking, as well as changes to issuance(potentially what caused the contention).
[Trader Joe Liquidity Book Live] Trader Joe launches Liquidity Book (phase 1), bringing users new mechanisms such as Surge Pricing, impermanent loss mitigation, zero slippage trading, and a composable bin architecture.
[Circle Adds Apple Pay] USDC issuer Circle now allows crypto businesses to accept payments from Apple Pay users who don’t use crypto.
NFT
7D SALES: $117,119,914.68 (+73.36%)
7D NUMBER OF BUYERS: 197,178 (+24.66%)
7D NUMBER OF SALES: 776,143 (-2.48%)
NFT News
Nov. 18, NFT marketplace X2Y2 to follow OpenSea in enforcing royalties.
Nov. 16, Yuga Labs donates Punk #305 to the Institute of Contemporary Art Miami to kickstart its Punks Legacy Program
Nov. 16, Sony files patent for in-game digital assets tracking via NFTs.
Nov. 16, Adidas Originals launches NFT wearables Virtual Gear.
Nov. 15, Nike launches dotSwoosh web3 platform.
Nov. 14, Yuga Labs acquires WENEW and its NFT collection 10KTF.
Nov. 14, Adidas’ BAYC appears with Messi and Benzema in new World Cup trailer.
GameFi & Metaverse
[Harmony partners with Game Space to scale web3 games] Harmony is a Proof-of-Stake blockchain with fast finality launched on Mainnet. Harmony has entered a strategic partnership with Game Space, a one-stop GameFi-as-a-service platform. Harmony’s integration with Game Space will transform GameFi by helping traditional Web2 games enter the world of Web3, reducing the time and cost of on-chain game development.
[DEA signs MOU with Rakuten for collaborative web3 partnership] Digital Entertainment Asset, a Singapore-based global Web3 entertainment company that operates the PlayMining NFT gaming platform, announced that it has signed a memorandum of understanding with Rakuten Group for a collaborative partnership in the Web3 domain.The partnership will see DEA and Rakuten collaborate on potential synergies in their respective businesses further.
[Square Enix partners with Cross The Ages as a strategic investor] Square Enix joins the roster of partnered investors as a strategic investor for the blockchain gaming company CrossThe Ages. Massive Japanese multinational gaming company, Square Enix, partners with Cross The Ages. Cross The Ages is a renowned blockchain gaming firm that produced the recent Metaverse trading card game by the same name.
DAO
[Vitalik addressing the CEX crisis: use zk-SNARKS] After the FTX crisis, Vitalik published a blog introducing his approach of using zk-SNARKS to general proof of solvency to ensure the safety of CEX. Later CZ confirmed in an AMA that Binance will be the first CEX to onboard with Vitalik to experiment with the solution.
[Multiple CEXes delisted USDC and USDT on Solana] Binance, Bybit, OKX, and other major exchanges have suspended USDT and USDC deposits on Solana, to avoid further contagion from FTX and Alameda. The CEO of Circle, Jeremy Allaire later clarified on Twitter that USDC on Solana was directly issued by Circle, the worrisome might be unnecessary.
[Arbitrum announced the first batch of Validator nodes] As the network has successfully proven its scalability and EVM compatibility, it is moving towards a more decentralized network by enabling permission validator nodes into the network. The institutions on the list are highly reputable in Ethereum Ecosystem, namely Consensys, Ethereum Foundation, L2beat, Mycelium, Offchain Labs, P2P, Quicknode, Distributed Ledgers Research Centre at IFF, Unit 410.
[Sui Testnet Wave 1 goes Live] The incentivized testnet will focus on operators where 20 validators and 500 nodes will be tested in a geo-distributed environment. The team disclosed that Wave 2 will focus on epoch management, tokenomics, and stake delegation.
Regulation & Adoption
- Nov 14 (🇺🇸): Circle just added USDC support on Apple Pay.
- Nov 15 (🇺🇸) Mastercard, Wells Fargo, Citigroup and others to launch a 12-week experimental dollar digital dollar pilot program with the NY Fed.
- Nov 15 (🌍) Ronalso launches NFT collection on Binance.
- Nov 16 (🇦🇪) Binance is granted by Abu Dhabi Authorities, approval to offer crypto custody services in the country.
- Nov 17(🇧🇸) FTX Financial Scheme seems to be fully disclosed. With it the lack of transparency and the lack of a financial (accounting) department in the company. Under other discoveries arising from the filling, it seems FTX excluded Alameda from liquidations, all keys were controlled unsecured by 2 people, and the use of funds for personal Real Estate.
- Nov 17 (🇷🇺) Bank of Russia and Finance ministry approves draft bill on crypto mining.
- Nov 20(🇰🇷) South Korean, Flats Exchange, to be investigated for listing native tokens.
Macro
- Oil tanker sailing on the coast of Oman was hit by a drone attack.
- Theranos Founder, Elizabeth Holmes was sentenced to 11 years in prison.
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