Top Web3 Headlines from This Week 10.27.2022

Here are the top web3 stories from this week.

Products

Reddit NFT Product Attracts Millions

😊 Reddit launched an NFT avatar product back in July and has seen stunning success. 2.5MM wallets have been established since the start. Three of the collections ranked amongst the Top 10 on trading site OpenSea. The social network is showing other platforms a roadmap to mass adoption.

Products

Apple Bringing NFTs but Web3 Developers Unhappy

🍎 In a widely expected move, Apple is closer to allowing NFTs within their App Store. The tech giant announced that NFTs can be used in iOS apps, but the company will require them to be sold through Apple’s payment rails with a 30% transaction fee to match other in-app purchases. As with other verticals, Apple is restricting the sale of NFTs to be used in apps outside of their fee structure, enraging web3 devs.

Capital Raised

Another Strong Fundraising Week

💰 DeFi hedge fund Edge Capital adds $66.8MM. Celestial Labs raises $55MM for blockchain networks. Web3 mobile game developer Manc closes $50MM funding round. New layer 1 chain Shardeum brings in $18MM new capital.

Content

A16Z on the Golden Era of Blockchains

🎙️ Ali Yahya is a General Partner with A16Z Crypto. He was a guest on The Defiant podcast to discuss what they are seeing at their massive Crypto fund and the bull market he sees coming out of the current Crypto winter.

Atlanta Event

Georgia Tech Blockchain Club

🗓️ If you are here in Atlanta, please check out the Web3 ATL event on November 4–6th. This event is organized by the Georgia Tech Blockchain Club and takes place near their campus. The event will feature great panels from industry leaders. I’ll be hosting a conversation with three founders about entrepreneurship in web3.

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