Animoca Brands – the Hong Kong-based Web3 giant – led the venture landscape in October, signaling broader ambitions across different sectors. Messari reported that Animoca made nine investments, surpassing other active entities such as CMS Holdings, which made seven, and Hack VC with six. Animoca Brands Pushes Venture Limits in October Traditionally known for its...Read More
Yuichiro Tamaki, leader of Japan’s Democratic Party for the People (DPP), has proposed a crypto tax reform to support the growth of a token economy, including Web3 and NFTs if he wins the election. His plan would lower the taxation on crypto gains to a 20% separate declaration tax instead of treating them as miscellaneous...Read More
In the second quarter of 2024, Web3 user engagement hit an all-time high, with approximately 10 million daily unique active wallets (dUAW), marking a 40% increase from Q1. According to a July 4 report by blockchain analytics platform DappRadar, the unprecedented growth spanned various sectors of the decentralized application (DApp) industry, leading to an overall...Read More
Web3 gaming project Gala Game was exploited by an unknown attacker, who was described as a compromised or rogue admin address, minted 5 Billion GALA, worth more than $200 million. The security incident has since been contained while the affected wallet has been frozen. The team also said that the exploit was an isolated incident...Read More
Polimec, a decentralized and community-driven funding protocol designed to transform how Web3 projects raise capital and issue tokens, has officially launched on Polkadot. Polimec offers a transparent, regulatory-compliant environment that connects investors and startups on a global scale. Community-Driven Web3 Fundraising According to a statement shared with CryptoPotato, Polimec represents a significant advancement in Web3...Read More
Animoca Brands reported $558 million in digital assets on its balance sheet, as per its latest unaudited financial disclosures. Since December 2023, the company has acquired an additional $266 million in digital assets through various recent investments and token launches. According to the official announcement released earlier this week, the Hong Kong-based Web3 giant disclosed...Read More
Decentralized applications (dApps) saw a rise of 77% in activity in the first quarter of 2024 and a 7 million total daily active user wallet count. This growth comes as Bitcoin hit an all-time high in Q1 2024, reaching above $73,000. DApp Activity Resurges According to DappRadar, the recent increase in new users shows a...Read More
On April 1, Juicebox’s content manager appeared to have announced that the Ethereum-based crowdfunding platform had secured a fake $69 million funding round supported by the crypto venture capital company Paradigm. However, it was later revealed to be an April Fools’ Day prank, causing JBX speculators to incur losses exceeding 20%. JuiceBox’s April Fools’ Day...Read More
Friend.tech, a Web3 social platform, has revealed that its investors have unanimously decided to waive their rights to sell tokens to users, granting them full control over the funds. The decentralized social media protocol garnered significant attention last year but has recently experienced a decline. Friend.tech Is Looking for a Comeback Friend.tech users have been...Read More
By Trevor Traina, Founder and CEO of Kresus You are reading these words because our planet is orbiting the sun at just the right distance to neither fry nor freeze us. Our planet is perfectly balanced for life to thrive. And within that world, numerous other forces exist in a state of optimal balance: light...Read More
Despite a challenging market and waning trust in centralized crypto entities, Binance Labs disclosed 25 new investments in 2023. In the latest report, Binance Labs primarily focused on decentralized finance (DeFi), Web3 gaming, tooling, and infrastructure throughout the year. In the DeFi sector, Binance Labs invested an undisclosed amount in the lending and borrowing protocol...Read More
The dApp industry experienced unprecedented growth, with DappRadar’s 2023 Industry Report revealing a 124% year-over-year increase in Unique Active Wallets (UAW). The report provides an overview of the dynamic landscape, shedding light on key NFTs, DeFi, and blockchain gaming trends. Blockchain Games Dominate Blockchain-powered games took the lead in dApp activity with a dominance of...Read More
More than 30% of blockchain games announced in 2023 have been reported as discontinued or canceled, as per the data provided by the Big Blockchain Game List. As of January 2024, the list encompasses 911 games, with 334 currently live and 577 still in development. Blockchain Games Face High Discontinuation Rate Out of the cumulative...Read More
Bitget – the Seychelles-based crypto derivatives exchange – has significantly expanded its team, growing from 1,100 to 1,500 employees. A similar trend could be seen with its user base increase from 8 million to 20 million. According to an open letter, Gracy Chen, Bitget’s Managing Director, revealed that the the support team played a crucial...Read More
Hashed – South Korea’s leading crypto venture – has defied the challenges of the crypto winter, investing a massive $28.44 million (36.8 billion won) in blockchain projects this year. The long crypto winter has failed to deter Hashed which has not only weathered the storm but has expanded its footprint in blockchain infrastructure and gaming...Read More
SAND, the native token of metaverse platform ‘The Sandbox,’ has gained over 40% in the past month, driven by a broader market resurgence that pushed its price to $0.61, a level last seen in April this year. SAND is one of the popular GameFi tokens that initially gained prominence in 2020-2021 amid the pandemic, providing...Read More
Polygon Labs has discontinued contributions to its Edge platform which is designed to build custom Ethereum-compatible blockchain networks. This decision reflects the company’s plans to prioritize the expansion of the Polygon Chain Development Kit (CDK), the open-source development toolkit for building ZK-powered Layer 2 chains on Ethereum for both Web3 projects and Web2 enterprises. Polygon...Read More
Thirdweb, a smart contract development firm within the Web3 ecosystem, has discovered a security vulnerability that potentially affects a range of smart contracts across the Web3 landscape. The company offers multichain smart contract deployment tools for various applications such as gaming, minting, marketplaces, and wallets, with a user base of over 70,000 developers. Thirdweb Discloses...Read More
The game finance (GameFi) space has recorded a high failure rate since its emergence in 2017. More than 75% of all Web3 games launched are dead due to declining user interest. According to a study by leading crypto data aggregator CoinGecko, three of every four Web3 games launched in the last five years have become...Read More
The global media giant Forbes announced the launch of its esteemed Under 30 list on the Ethereum blockchain. This initiative represents a milestone, combining conventional media’s reputation with blockchain technology’s transformative power. Ethereum-Based Under 30 List Fuses Media with Web3 Tech The Under 30 list, famous for highlighting the world’s most promising young entrepreneurs, innovators,...Read More
The downward trend in 2023 has failed to deter the steady pace of deals and investments in the digital market space. Binance Research’s latest report revealed that a substantial share of this sustained growth came from gaming and infrastructure projects. While the traditional VC share surged to 45% since the beginning of the year, the...Read More
Unstoppable Domains is currently facing criticism for allegedly appropriating the open-source advancements of the Ethereum Name Service (ENS) through the filing of a patent named “Resolving Blockchain Domain Names” in January this year. In an open letter, Nick Johnson, the lead developer of ENS, expressed significant concerns about Unstoppable Domains’ patent applications related to blockchain...Read More
Stani Kulechov – the founder of Aave Companies – has announced that the network of blockchain entities and ventures that he created has rebranded as Avara. Rebranding to Reflect New Priorities According to Kulechov, the name change reflects Avara’s new mission to go beyond DeFi by bringing Web3 to “all users globally with different kinds...Read More
SBI Holdings, a prominent Japanese financial company, is preparing to launch a $663 million fund supporting Web3, AI, and other fintech startups. The fund is slated to invest in 150-200 companies and is anticipated to begin operations by the current year’s end, as Nikkei Shimbun reported. Japan’s Startup Fund Momentum with Major Backing The SBI...Read More
South Korea’s largest wireless carrier – SK Telecom – has announced signing a tripartite agreement with Aptos Labs and Atomrigs Labs. The latter serves as its technology partner. According to the official announcement on the LinkedIn post, the strategic partnership is expected to enhance SK Telecom’s affiliations with customer-preferred mainnets and decentralized applications(dApps). The focus...Read More
In the rapidly evolving landscape of technology, Web3 stands as a beacon of innovation, poised to redefine how we interact with the digital world. Unlike its predecessor, Web2, which primarily focused on user-generated content and social networking, Web3 places decentralization at its core. It leverages blockchain technology to empower users with greater control over their...Read More
Despite a market-wide slowdown this quarter, data suggests stakeholders continue to see substantial potential in the blockchain gaming space. Recent data from Dapp Radar’s Q3 report reveals that Web3 gaming projects have managed to accumulate a whopping $600 million, bringing the year’s total investment to an impressive $2.3 billion. While this is only 30% of...Read More
Web3 gaming platform Immutable recently announced a partnership with Amazon Web Services (AWS). This collaboration is set to revolutionize the world of blockchain gaming, ushering in a new era of possibilities for game developers in the crypto space. Immutable Joins AWS’s ISV Accelerate Program According to an Oct. 10 statement, Immutable has recently joined AWS’s...Read More
Galxe, a Web3 credentials and rewards platform, has taken measures to reassure its community in response to last week’s DNS attack. The platform announced a refund totaling slightly over $396,000 for over 980 affected users, along with an additional 10% compensation on the lost funds. The funds of impacted users will be automatically returned to...Read More
Galxe, a Web3 credential project, instructed users not to interact with the platform following a security breach on its website. Meanwhile, on-chain sleuth ZachXBT says the hackers are likely the same as the rogue actors that recently attacked Balancer’s front end. Galxe reported the security incident via its official X handle on October 6, asking...Read More
