Top Web3 Headlines from This Week 02.24.2023
Here are the top web3 stories from this week.
Capital Raised
Good Volume of Deals This Week
💰 Chaos Labs received $20MM led by PayPal for onchain risk analysis. Lots of activity in web3 gaming with fundings for Kratos Studios $20MM, Yield Guild Games $13.8MM, Azra Labs $10MM. Towns raised $25.5MM and Sending Labs added $12.5MM, both for web3 communication tools. $FLOW wallet Blockto closed a Series A round at a $80MM valuation.
Regulations
Crypto Attacks Not Slowing
⚖️ Former FTX exec Nishad Singh is pleading guilty to crimes and will work with the government on their prosecution of Sam Bankman-Fried. The SEC finally charged Terra/Luna founder Do Kwon with fraud, but he is on the run. NBA vet Paul Pierce settled with the SEC over Crypto promotions and paid a $1.4MM fine. Dapper Labs was shot down on a motion to dismiss a case against NBA Top Shot, failing to persuade a judge that their NFTs are definitely not securities. The case will move forward before a decision is made on this issue.
Products
Big Companies Continue to Explore Web3
🚀 Spotify is testing token-gated playlists. DraftKings is expanding their NFT fantasy game platform to cover golf. Sony announced a web3 incubation program. OpenSea is in a fierce battle for NFT trading volumes with Blur, and the company dropped their fee to zero to compete.
Content
Hear from Web3 Builder and Investor Lauren Feld
🎙️ Lauren Feld is a web3 veteran builder and investor, and she is also on the Selection Team of our W3 Studio venture studio non-profit. On the Bridging Web3 podcast, she discusses data composability and value creation.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Crunchbase reported that funding to Black founders fell 50% in 2022, faster than the overall market. Three new Black-led unicorns were minted last year. Check out our list of pitch competitions, grant programs, and other founder resources here.
Follow me on LinkedIn for more frequent updates on web3.
*Thank you for reading this post. If you would like this directly to your Inbox twice a week, please subscribe. I would also really appreciate if you could share this post with someone who is interested in learning about Crypto and web3.*
