WEB3
Web3 (WEB3 or Web 3.0) refers to the next generation of the internet, characterized by decentralized and peer-to-peer networks that aim to give users more control over their data and digital interactions. It is a vision of the internet that incorporates blockchain technology and smart contracts, enabling trustless and transparent transactions, decentralized applications (dApps), and the secure storage and sharing of data. Web3 seeks to empower individuals, promote privacy, and foster a more open and collaborative digital ecosystem.
Solana Gum Protocol Shuts Down
Gum protocol on Solana ecosystem is shutting down due to market conditions and revenue issues, raising concerns about the sustainability of protocol-layer projects.
C98 News: Coin98 Ventures Rebrands to Arche Fund for Web3 Focus
Coin98 Ventures rebrands as Arche Fund, supporting Web3 projects and businesses through three pillars: Arche Ventures, Kompass, and Arche Capital, promoting adoption and ecosystem stability.
Binance Labs Announces ColLabs: A Web3 Investment Community Platform
Binance Labs has launched ColLabs, an invite-only Web3 investment community, aiming to bridge the gap between venture capitalists, startups, and investors in the Web3 space. The platform combines a blog, newsletter, and Telegram channel for exclusive content and deal-sourcing opportunities.
Animoca Brands Reports US$402 Million Bookings for 2022
Animoca Brands, a leading digital entertainment and blockchain technology company, reported strong financial performance in 2022, with bookings reaching A$594 million and a strong liquidity position, despite expanding its business portfolio.
Hong Kong's Financial Secretary Propels Web3 Expansion
Hong Kong's Financial Secretary, Paul, has highlighted the growing significance of digital entertainment as an economic sector. The government has allocated HKD 50 million to support a thriving Web3 ecosystem, with over 180 companies involved.
BIGG to Acquire Web3 Company TerraZero in $20M Deal
BIGG Digital Assets plans to acquire TerraZero Technologies Inc. for $20 million, a metaverse company with a 161% growth in Q1 2023. TerraZero will create a subsidiary for BIGG, with TerraZero's CEO serving a 12-month term.
Zilliqa declares the establishment of the Zilliqa Group.
Zilliqa Research Pte. Ltd. has formed the Zilliqa Group, a conglomerate focusing on Web3 and blockchain-based products, including gaming and decentralized finance, with a restructured board overseeing the transition.
Binance Labs Funds Delphinus Lab's zkWASM VM for Web3 Evolution
Binance Labs invests in Delphinus Lab's pioneering zkWASM VM, aiming to boost the Web3 app landscape with enhanced privacy and efficiency.
MAS Pledges S$150 Million for Tech and Innovation in Finance including Web3
MAS commits S$150M for financial tech innovation, including Web3, under the FSTI 3.0 scheme, aiming to strengthen the sector's digital capabilities.
OKX Ventures Fuels Moonbox's AI and Web3 Ambitions with $1M Investment
OKX Ventures invests $1M in AI and Web3 startup Moonbox, aiming to boost development of AI-powered NFTs. The funding will accelerate product growth and promote the integration of AI and Web3.
Mark Cuban-Backed NFT Platform Nifty's Shuts Down After Failed Investment Opportunities
Nifty's, a notable platform focused on Web3 creators, announced the cessation of operations earlier today, marking a significant shift in the digital ownership landscape.
Japan Blockchain Association Proposes Cryptocurrency Tax Reforms to Government
The Japan Blockchain Association (JBA), led by Representative Director Yuji Kano of bitFlyer, submitted a proposal for cryptocurrency tax reforms to the government on July 28, 2023.
Former Coinbase Executive Joins Magic Eden as Head of Product
Former Coinbase executive, Linus Chung, joins Magic Eden as Head of Product. Chung will lead product development, enhance user experience, and drive growth.
Bundle Africa Stops Exchange Services
Bundle Africa is discontinuing its exchange services to focus on Cashlink, a Web3 payment solution. Users are advised to withdraw funds by September 10, 2023. The shift reflects the growing needs of the blockchain community.
McDonald's Hong Kong Partners with Sandbox to Launch First Metaverse Experience, McNuggets Land
McDonald's Hong Kong has teamed up with The Sandbox to create the first Web3 experience platform. This partnership has resulted in the launch of "McNuggets Land", a unique metaverse gaming experience that marks the 40th anniversary of McNuggets.