Top Web3 Headlines This Week
Here are the top web3 stories from this week.
Capital Raised
WeWork Founder Raises $70MM for New Crypto Startup
🌲 Adam Neumann is back with a new startup called Flowcarbon. He closed a $70MM funding round last week, led by A16Z Crypto. The new company will help companies sell tokenized carbon credits to others looking to reduce their footprint. The raise was split about 40/60 between traditional equity and a new Goddess Nature Token.
Money Continues into Blockchain Gaming
🕹️ Jadu brought in $35MM for their Series A raise. The company is bring NFT gaming assets for the metaverse. Bain Capital Crypto led the round. They are creating their own AR assets and will incorporate popular projects like Meebits and CyberKongz. Additionally, gaming leaders Makers Fund and Bitkraft led a $15MM raise for MetaKing Studios. The company is building a blockchain massively multiplayer online game called Blocklords.
Another Jumbo Crypto Venture Fund
💰 Leading Crypto exchange Binance announced a $500MM fund to invest in web3 startups. The money will be split from pre-seed all the way to growth stage across the sector. This follows A16Z’s massive $4.5Bn Crypto fund last week and numerous smaller but still sizeable offerings. The selloff in Bitcoin and other tokens is not stopping people from building in the sector. Binance said there are “300,000 to 500,000 active Web3 developers” and that number is growing fast.
New Products
Hunger Games Producer Dives into Web3 TV
📺 Another studio heavyweight is bringing web3 tech into their process. Hunger Games producer Bryan Unkeless announced plans this week for a sci-fi project called Runner. Runner will portray a futuristic world built around speed racers. They will start with a comic book and NFT profile picture project, and then expand to a TV series and video game. This follows last week’s news that Rick and Morty creator Dan Harmon is working with Fox on a web3 animated series. Expect much more on this in the coming months.
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