Top Web3 Headlines from This Week 12.09.2022

Here are the top web3 stories from this week.

Consumer Offering

Starbucks NFT Program Live

☕ Starbucks has gone live in Beta with their NFT reward program. Their Odyssey program combines loyalty rewards with NFT collectibles and is built on the Polygon layer 2 protocol. This has the potential to onboard millions given the huge size of their existing rewards app.

Market Challenges

Troubles in the Sector Continue

📉 Stablecoin leader Circle has abandoned their planned $9Bn IPO, which had been struggling to close for months. Crypto hedge fund Orthogonal Trading is in default. Apple and Coinbase are feuding over App Store fees on the Coinbase NFT app. On the brighter side, the Crypto promo lawsuit against Kim K, Floyd Mayweather, and more was dismissed.

Capital Raised

Light Week in Web3

💰 Nothing sizeable to report this week as things begin to slow for the holidays. Bitwave closed a $15MM Series A for Crypto tax reporting software. Shibuya added $6.9MM for a web3 content platform.

Content

Jonathan King of Coinbase Ventures

🎙️ Hear from Jonathan King at Coinbase Ventures the Atlanta Startup podcast. King invests in developer tools for Crypto and web3, and he shares views on the evolving market and the happenings in Atlanta in the sector.

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