The Bitcoin-Based Ecosystem Sees A Total Market Value Of $900 Million
The introduction of the Bitcon-based BRC-20 standard has led to an explosion of new tokens in the ecosystem, leading to a total combined value of $900 million so far. Proposed by a pseudonymous developer, the BRC-20 was an experimental token standard built upon the Ordinals protocol which led to its proliferation with over 11 thousand tokens created. Memcoins currently make up most of those tokens, with the most popular one being the Ordi token.
Family Offices Invested In Crypto Increased By 10% From 2021, Says Goldman Sachs Report
In a recent Goldman Sachs report which surveyed over 166 family offices and their current investments, the finding reported that the number of family offices investing in digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and stablecoins have increased from 16% to 26% in 2023. A breakdown of the response by the participants showed that 19% continue to believe in the potential of blockchain technology, while others are invested as a form of diversification and as cryptocurrencies being a store of value.
Arbitrum Establish Itself As A Top Chain For Web3 Games With Increased Transactions On-Chain
Arbitrum, an Ethereum scaling solution that uses optimistic rollups, is establishing itself as the chain of choice for Web3 games as game-based transactions dominate the total transactions submitted. Crypto analytics platform DappRadar pointed out that certain decentralized gaming ecosystems benefited from the Arbitrum airdrops earlier this year, which may have sparked other GameFi projects to move to Arbitrum and boost the network’s visibility.
Clear Framework From Europe Brings In VC Funding For European Startups
The recent progress on cryptocurrency clarity in Europe has boosted the confidence of venture capitalists towards investing in European startups, and there has been an influx of funding with crypto startups across the continent which accounts for 48% of all VC funding in Q2 2023. The key top spots for crypto projects to source funding from are in cities such as London which already has an existing crypto culture despite being outside the EU, along with Zurich and Berlin being the next top choices.
Europe’s First DeFi-Native Bank Is In The Works After The EU Lays Out Crypto Framework
Unstoppable Finance, a Berlin-based fintech startup with its own non-custodial wallet product, has announced that it will be pushing ahead with Europe’s first DeFi-native bank that is compliant with the newly signed EU crypto framework.The endeavor will allow users to deposit money anytime to an European Central Bank (ECB) account, which is not dependent on any bank management. The startup will also be launching a fiat-backed Euro-pegged stablecoin that is compliant as well.
IguVerse Accelerates Development Of Ecosystem In Long-Term Collaboration With DWF Labs
Iguverse, a novel decentralized social network and Gamefi-focused platform, saw a boost in its efforts to develop its ecosystem through its latest long-term commitment with DWF Labs. The commitment will see a seven-figure contribution, as well as the necessary market expertise, providing the necessary resources needed to accelerate new developments such as a decentralized ad network and an AI-powered NFT Marketplace on the IguVerse network which will empower its existing GameFi ecosystem.
Diversification Is Key To Driving Innovation And Creating A Solid Investment Strategy, Says DWF Labs Managing Partner In Crypto Oasis Report
DWF Labs had the pleasure of sharing its Web3 direction and investment strategy in the latest iteration of the Crypto Oasis Ecosystem Report 2023, which was produced in partnership with entities such as the DLT Science Foundation and Chainalysis.The report showcased the significant progress of the Crypto Oasis initiative so far, and DWF Labs Managing Partner Andrei Grachev emphasized the diversification of Web3 projects as a key investment strategy to drive innovation and promoting the adoption of decentralized solutions.
Polylastic Clinches Support From DWF Labs Ahead Of May Public Launch
Polylastic, a digital finance index that is designed to track token performances within the cryptocurrency market, has clinched support from DWF Labs in the form of monetary resources to boost their long-term development ahead of their public launch. The index project will kick off several offerings such as DeFi protocols, NFT and Gaming protocols, along with a community DAO supported by its POLX token.
Blockchain-Based Travala Adopts Bitgert’s $BRISE As Payment Option On The Platform
Travala, a popular travel booking platform that also readily accepts cryptocurrencies as a valid payment option, has adopted Bitgert’s $BRISE token as a payment token for hotel and travel bookings. As a crypto engineering organization, Bitgert currently offers a full range of blockchain-based solutions such as its Bitgert chain and cryptocurrency exchange, and the adoption means that $BRISE holders have more utility for their tokens.
AI-Focused CryptoGPT Supports Browse-To-Earn Mechanics With Their Latest AI2Earn Product
The AI-dedicated layer-2 blockchain network CryptoGPT will soon be launching its privacy-focused virtual private network (VPN) Mainnet in the coming month. The product is able to cater to private browsing on an institutional level, and users can earn while browsing on the mainnet with a data capsule NFT equipped to their profile. The product may still be in early access, there are already plans to go out with a retail mobile VPN option with similar in-built earn mechanics soon.
Key Venture Capital Players Share Their Tips For Spotting Web3 Projects With Potential
The Web3 space is inundated with projects that are creating new applications and use cases every day. How can VCs spot the proverbial jewel in the rough amongst the sea of projects? For BDE Ventures, looking out for subtle language cues during discussions is a crucial point to take note of, while for Zain Ventures it is the history profile of the project’s founders that make a world of difference. Some go back to the basics of business fundamentals, with Anchorage Digital advising to evaluate on metrics like creditworthiness, audit results, and regulatory oversight.
The Open Network Solidifies Collaboration With BIT Exchange
The TON Foundation, which oversees the development and advancement of The Open Network (TON), has embarked on a collaboration with BIT cryptocurrency exchange to advance trading accessibility for both parties. As part of the collaboration, the native wallet service on Telegram will facilitate deposits and withdrawals from BIT accounts, while the exchange will accept TON tokens for payment of trading fees and offer a fee discount at the same time. Participants staking TON in the exchange will also enjoy different levels of VIP rates on the platform.
Ethereum Begins Planning And Development Of The Dencun Hard Fork
Moving beyond the success of the Shapella hard fork, Ethereum developers have begun planning for the development and implementation of the next upgrade, the Dencun hard fork. Combining the names of the two major upgrades during the next phase, it aims to integrate the use of ‘proto-danksharding’ under EIP-4844 which will scale the blockchain by making space for data bits while reducing fees for layer 2 rollups. The upgrade seems to be an allusion to the integration of sharding in Ethereum as part of its roadmap, although the launch date is yet to be decided.
Cross-Chain Dex Achieves Symbiosis With ZKSync
Symbiosis finance, a cross-chain decentralized exchange (DEX) that aggregates liquidity across EVM and non-EVM compatible networks, recently deployed its governance token $SIS onto the Layer-2 scaling solution zkSync which brings Symbiosis’ functions and liquidity to the ecosystem. This brings the total number of chains that Symbiosis is being deployed to four chains, including Etheruem, BNB Chian, and Arbitrum.
Disclaimer: This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.
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