Here are the top web3 stories from this week.
New Opportunities with NFTs
📸 Instagram announced they will allow creators to sell NFTs directly to their followers soon. Amongst the many changes at Twitter, the company is experimenting with NFT Tweet Tiles. GameStop has added web3 games to their NFT marketplace. A startup is helping restaurants sell NFTs to get reservations at some of the buzziest locations in L.A.
More Crypto VC Funds Growing
💰 Crypto venture firm CoinFund is closing a $250MM new offering. Popular Twitter poster Mags announced her $30MM web3 VC fund. Crypto payment firm Reap adds $40MM in new funding. Bitcoin ATM firm RockItCoin is acquiring Tao Bitcoin.
The Mining Industry Struggles
😢 With the big drop in Crypto prices, Bitcoin and other cryptocurrency mining firms are being hit hard. Core Scientific warned of a possibly bankruptcy, and its stock plummeted. Crypto trading exchange Deribit was the latest hack victim with a loss of $28MM. NBA Top Shot creator Dapper Labs laid off 22% of its workforce as the industry cools.
Armstrong and Pomp on State of Crypto
🎙️ Coinbase CEO Brian Armstrong hosted Anthony “Pomp” Pompliano on this podcast. The powerhouse pair discuss the current state of the Crypto market and give predictions on where things are heading.
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