Venture capital firm Heartcore raises €15 million for its first Web3 fund
According to Blockworks, venture capital firm Heartcore Capital has raised €15 million ($16.3 million) for its first Web3 fund and is investing in application layer protocols in the crypto sector.
Web3 cross-chain game ecosystem Portal releases white paper
On December 5th, Web3 cross-chain game ecology Portal released a white paper, which includes foundation, game platform, token economics, Stack and other content. In addition, more information will be revealed when it is released in the future.
RabbitHole: Arbitrum backup fund proposal approved, 1 million ARB will be received and distributed to the community
RabbitHole, a Web3 on-chain incentive platform, announced on X platform that the Arbitrum STIP reserve fund proposal has been approved, and will receive one million ARB grants and distribute them to the community. This means that the most loyal users will receive more tasks and higher rewards. It is reported that RabbitHole hopes to build the ArbitrumQuestGateway and distribute one million ARB through incentives to RabbitHole's task users.
The second fund of Indian venture capital Indian Angel Network completed US$42 million in financing and will focus on Web3, Metaverse, etc.
According to DealStreetAsia, Indian Angel Network, an Indian venture capital firm, announced that its second fund, "IAN Alpha Fund," has raised an initial funding of $42 million, with participation from SIDBI (Small Industries Development Bank of India), SRI Fund, and IAN Fund I.The fund will focus on investing in areas such as financial technology, deep tech, Web3, metaverse, and Industry 4.0.
Fintech startup Flow48 completes $25 million in pre-Series A funding, may provide support in "advanced fintech ecosystem"
UAE fintech startup Flow48 announced completion of $25 million pre-A round financing, with participation from Blockchain Founders Fund, Speedinvest, Daphni, 212, Unpopular Ventures, Endeavor Catalyst, TLG and some angel investors. It is reported that this round of financing includes equity and debt financing.Flow48 provides data-driven real-time fintech solutions and helps small and medium-sized enterprises focus on ESG principles. Investors may provide support in the "advanced fintech ecosystem", with Blockchain Founders Fund's investment portfolio including Web3 API platform Uniblock, Web3 domain and TLD provider Freename, privacy protection protocol zkPas, and more.
Forbes launches Web3 experience and community hub ForbesWeb3
According to official X account news, Forbes has launched ForbesWeb3, which is described as an experience and community center for Web3 entrepreneurs, creators, and changemakers around the world. The publication stated that since 1917, Forbes has always been at the forefront of supporting entrepreneurs and success. ForbesWeb3 is different from any other community and is cultivating a network for Web3 practitioners, providing enhanced benefits and opportunities to help write the next chapter.
Among 2,817 Web3 games launched from 2018 to 2023, the average failure rate was 80.8%
According to a analysis by Coingecko, out of 2,817 Web3 games launched between 2018 and 2023, 2,127 are either "dead" or currently inactive, with an average annual failure rate of 80.8%. Based on Coingecko's data, the highest failure rates in these five years were in 2019 (94.3%) and 2020 (94.4%). However, in 2021, the year of the last crypto bull market, out of 738 games, 339 failed, with a failure rate of 45.9%.
OKX CMO: Plans to carry out three aspects of work in India, including cultivating Web3 community, but will not engage in exchange business
OKX officials posted on X platform that during an interview with Forbes, OKX CMO Haider stated that they are strengthening their Web3 business in India.
Ancilia: The inactive project Fulcrum was attacked and the loss exceeded 99 ETH
According to Web3 network security company Ancilia, the long-inactive margin protocol Fulcrum was hacked, losing over 99 ETH. The hacker sent a French message on the chain that read "Chapardez le cadavre, négociez avec les fantômes" (Steal the corpse, negotiate with ghosts). Fulcrum was launched in June 2019 and its official website is also inaccessible. Developer bZx has not updated it since 2020.
Magic Eden integrates its marketplace into blockchain strategy game Honeyland
Cross-chain NFT platform Magic Eden announced the direct integration of its marketplace into Honeyland, a mobile-first blockchain strategy game that combines traditional web2 game basics with a seamless web3 onboarding experience. The collaboration aims to simplify the adoption of web3 games. Honeyland becomes the first project to enable players to use the Honeyland native currency HXD to purchase, sell, and trade in-game digital assets in NFT form, allowing players to own and host their own digital assets. Additionally, the new marketplace will facilitate player-to-player transactions, promote ecosystem development, and enhance overall gaming experience.
