Polygon Labs Releases Database of Over 400 Nonfinancial Use Cases for Blockchain Technology
Polygon Labs has recently launched The Value Prop, a database of 430 total projects across 42 use cases and nine verticals that demonstrate the various ways web3 can be implemented beyond just making money. The company created the database to provide regulators with information on the nonfinancial use cases of crypto and blockchain technology.
Xangle and Republic Crypto Partner to Accelerate Web3 Adoption in Korea and Asia
South Korean Web3 data and intelligence platform, Xangle, has formed a strategic partnership with US-based advisory firm, Republic Crypto, to promote the adoption of Web3 technologies among Korean enterprises. Xangle clients will gain access to Republic Crypto's experience in Web3 execution, including blockchain infrastructure setup, digital asset management, and tokenomics design.
Zokyo and Conflux Partner to Strengthen Security and Innovation in Conflux Ecosystem
Zokyo and Conflux have partnered to enhance the building projects of the Conflux ecosystem, with a focus on optimizing security and accelerating innovation. Zokyo will provide support for upcoming projects on the Conflux Network, including security services such as penetration testing and smart contract auditing.
Crypto Startups Raise Over $94 Million, Sound Music Marketplace Secures $20 Million in Series A Round
16 crypto startups raised over $94 million, with Sound, a Web3 music marketplace, leading the way by securing $20 million in a Series A round. The project aims to provide a better model for artists to make money by allowing them to sell their music as song NFTs.
KNN3 Recap: 'Igniting Innovation with #WEB3' Vietnam Meet-up
'Igniting Innovation with #WEB3,' organized by KNN3 Network alongside esteemed partners AWS, Chainlink, Moonbeam, and PolkaInsider, proved to be an outstanding success.
ChainGPT Launches IDO Platform Connecting Startups with $CGPT Community and Offering Web3 Incubation Program
ChainGPT has launched ChainGPT Pad, an IDO platform connecting early-stage startups with the $CGPT community for initial DEX offerings. The platform includes an incubation program with expert mentors to support qualifying projects, and features such as a two-round structure for IDOs, a staking and point system, a fair tier system, and a flexible refund policy. Three startups, DexCheck, TradeTomato, and Solidus AI Tech, are set to launch their IDOs through the ChainGPT Pad.
Startup Silent Protocol Raises $5 Million Led by Sora Ventures
Silent Protocol, a startup initiative led by researchers from TÜBİTAK BİLGEM, is focused on developing a scalable privacy layer for existing applications without the need to swap liquidity from existing pools. The project has received initial funding from venture capital firms such as Zee Prime Capital, Mechanism Capital, Hypersphere, and Daedalus, among others, and has recently secured a $5 million funding round led by Sora Ventures. Silent Protocol aims to extend its network into and beyond web3 by constructing a security layer for their applications compliant with MiCA regulations in the European Union, providing a crucial data privacy layer for institutions transitioning into the web3 space. Silent Protocol's approach offers a scalable privacy layer that doesn't necessitate liquidity swaps, which could shift how traditional financial institutions engage with the decentralized finance sector.
Circle CEO Jeremy Allaire Optimistic About Hong Kong's Stablecoin Regulations and Potential for Yuan Internationalization
Jeremy Allaire, CEO of Circle, has expressed optimism about the development of Web3 in Hong Kong and the HKMA's efforts to regulate stablecoins. He believes that stablecoins could play a role in the internationalization of the yuan and that they could offer a more immediate solution compared to a central bank digital currency. Hong Kong is positioning itself as a global virtual asset hub and is focusing on regulating stablecoins, with the HKMA committed to introducing regulations for stablecoins by 2024. Circle is encouraged by the HKMA's prioritization of stablecoin regulations and is motivated to grow its presence in the region.
Web3 and Crypto Venture Capital Funding Drops 80% in Q1 2023, Further Declines Possible
In Q1 of 2023, venture capital funding for Web3 and crypto has dropped by 80% compared to the same period last year, which is concerning for the investment landscape. However, projections for the full year are more optimistic, with an estimated $12 billion investment in 1,876 blockchain transactions. This would still represent a 64% decrease from the previous year, leading some experts to speculate that the market is undergoing a correction after a period of rapid growth and speculation. Despite the challenges, this presents an opportunity for reflection, consolidation, and the development of more sustainable business models to advance decentralized technologies.
Google Allows NFT Transactions on Google Play Store, Snoop Dogg-Backed Music Venture Raises $20M, and More NFT News
Google has updated its policy to allow NFT transactions on apps in the Google Play store. Starbucks Odyssey's next loyalty program stamp will be designed by Micah Johnson's NFT character, Aku. Sound, a decentralized music venture backed by Snoop Dogg and a16z, announced a $20 million funding round. Art Blocks' Chromie Squiggle NFTs have a floor price of nearly $20,000. Web3 is offering free Slurpee NFTs, while Seedphrase, the self-proclaimed "No. 1 CryptoPunk," has signed with talent agency WME to expand its brand. Particle's co-owners have approved the loan of their Banksy painting, "Love is in the Air," to museums worldwide. Meta's new app, Threads, has surpassed 100 million downloads and supports the decentralized social media protocol ActivityPub.
