Top Web3 Headlines This Week
Here are the top web3 stories from this week.
Market Update
Another Volatile Week in Crypto Markets
📉 Prices found some stability, but the hits keep coming in the Crypto world. Troubled DeFi platform BlockFi had rumors of cash problems, until FTX stepped up and lent them $250MM. Alameda Research, a Crypto trading firm run by FTX’s founder, also provided a $200MM loan to a Crypto broker called Voyager Digital. A big DeFi lending company attempted this week to liquidate a large Solana position, which seemed to violate their decentralized tenets. And early this morning news hit of a $100MM hack from a Crypto asset bridge called Horizon. Tough week!
New Products
Immutable Launches $500MM Gaming Fund
🕹️ Immutable ($IMX) is making a big move to establish their Layer 2 solution as the leading option for blockchain gaming. This $500MM investment fund is done in partnership with some of the leaders in gaming investment including Animoca Brands and BITKRAFT. $IMX groups transactions and writes them to the Ethereum blockchain, and their protocol is already used by big players like GameStop, Gary Vee, and GreenPark Sports.
PartyDAO Raises $16.4MM for Fractional Ownership
🧩 PartyDao is one of the leaders in onchain fractional ownership. Last year, I joined groups on their platform to buy little pieces ($250 each) of a Bored Ape and a CryptoPunk. The company raised $16.4MM led by A16Z to power growth. I’m not exactly sure how these smaller chunks of NFTs are not securities under U.S. law, but it’s a fun way to get exposure to high-cost assets.
Content to Check Out
My Fave Web3 Podcasts
🎙️ I was asked for my favorite podcasts in the web3 space. The Pomp Pod gets excellent guests including leaders of top startups and investors. He’s a Bitcoin maxi, but a fun listen. Bankless is another great interview show. They’ve had the founders of Ethereum, Solana, and most of the big blockchains. The Delphia Digital Podcast is an interview show hosted by a leading web3 investors. Most of the guests are startup founders. Very thoughtful questions.
Follow me on Twitter for more frequent updates on web3.
*Thank you for reading this post. If you would like this directly to your Inbox twice a week, please subscribe. I would also really appreciate if you could share this post with someone who is interested in learning about Crypto and web3.*
