Top Web3 Headlines This Week
Here are the top web3 stories from this week.
Capital Raised
VC Firms Continue to Raise for Web3
💰 This week crushed last week’s cash inflow to Crypto focused venture funds. Venture leader A16Z announced a massive $4.5Bn fund, split between an early stage and a growth fund for the sector. They said we are entering the “golden age of web3”, and I certainly agree. We also saw Standard Crypto, a newer manager, report on a $500MM fund. VC firms are going to keep investing in this sector, as I wrote about a few months ago. The recent market selloff won’t stop this.
New Products
Mythical Games Partners with NFL for NFT Fantasy Game
🏈 The NFL has selected a second partner for daily fantasy games on chain, with an announcement this week of a deal with Mythical Games. This follows the leagues partnership with DraftKings on a similar product. I’m a big fan of this type of experience, which aims to capitalize on the success Sorare has seen with European soccer. Sorare is coming to the US after their deal with MLB. I previously covered the topic of blockchain fantasy and sports betting, this could be huge.
Will eBay be the eBay of NFTs?
🛍️ A few months ago, I wrote about the important race to be the eBay of NFTs. OpenSea has been the clear leader thus far with billions of dollars in trading volume monthly. Coinbase threw their hat in the ring, but they have had limited success thus far. I’m not ready to count out the leading Crypto trading firm from this race, but they better pick up the pace. This week eBay got into the fray, with a launch of a Wayne Gretzky digital collectible. eBay doesn’t have a full-blown marketplace yet, but they are one to watch in the space.
Animated Series with NFTs Coming to Fox
📺 Dan Harmon is the creator of Community and Rick and Morty. This week he announced a new series called Krapopolis that will incorporate “digital goods, ranging from NFTs of one-of-a-kind character and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward superfans”. This is the first offering from Fox Studios new Blockchain Creative Labs. Very cool. It follows the Stoner Cats animated series from Mila Kunis and Ashton Kutcher, which was funded by selling NFTs to fans. More recently, we saw Mad Realities raise $6MM for a dating show with NFT fan participation. I wrote more on this topic back in January.
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