Welcome again to Chain Reaction.
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This week was a busy one for crypto (per common) with the SEC, PayPal, Coinbase and Microsoft main the headlines. Let’s get into it.
This week in web3
- The SEC stated in a court docket submitting on Wednesday that it might file an “interlocutory appeal” for the federal court docket ruling on Ripple and the XRP token final month. Read extra.
- Artificial intelligence has captured the hearts, minds and wallets of the know-how trade. So it’s little shock that Microsoft, which has a number of irons within the AI hearth, is working to develop its footprint within the space. On Wednesday, the corporate introduced that it’s partnering with layer-1 blockchain Aptos Labs to work on AI and web3. Details right here.
- PayPal is rolling out a stablecoin for funds and transfers. Yes, you learn that proper. Find out what which means for customers and the standard fee world right here.
- Will the Law Commission’s digital belongings closing report make the UK a DeFi jurisdiction of alternative?
- Coinbase reported its second-quarter earnings Thursday afternoon after the bell, beating market estimates. We dove into what it means for the corporate, so that you don’t have to.
- Beacon, an early-stage web3 accelerator program, held its demo day on Wednesday throughout which the groups homed in on infrastructure, gaming, decentralized social media and DeFi, held its second cohort commencement on Wednesday. Learn extra right here.
The newest pod
For this week’s episode, Jacquelyn interviewed Robbie Ferguson, co-founder and president of Immutable.
Immutable is a web3 firm consisting of two entities: Immutable Platform, a developer platform for constructing and scaling Ethereum-based web3 video games, and Immutable Games, a web3 recreation developer and writer. Some conventional gaming studios and IP holders are additionally constructing on its platform like GameStop, TikTookay, Illuvium and NFT market OpenSea, to identify a couple of.
In March 2022, Immutable raised $200 million at a $2.5 billion valuation and final June it launched a $500 million developer and enterprise funding fund, which Ztoog coated completely.
We mentioned the web3 gaming market and the way it’s grown previously 12 months and the place it’s going sooner or later.
We additionally talked about:
- Creating worth in video games
- Mobile gaming vs web3 gaming
- Global adoption
- Advice for builders
Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favourite pod platform to sustain with the most recent episodes, and please go away us a overview in case you like what you hear!
Follow the cash
- Spearbit raises $7M to enhance safety audits in crypto by its open market
- Cube3.AI raised $8.2M in a seed spherical to enhance web3 safety
- SphereX additionally raised $8.2M to enhance good contract safety
- Orbital raised $6.4M for to present crypto options for conventional finance
- Institutional decentralized alternate D8X raised $1.5M in a pre-seed spherical
This record was compiled with data from Messari in addition to Ztoog’s personal reporting.
What else we’re writing
Want to department out from the world of web3? Here’s some articles on Ztoog that caught our consideration this week.
- Fearless Fund responds to racial discrimination lawsuit
- So your startup’s runway is dwindling and fundraising is difficult. What’s subsequent?
- Researchers watched 100 hours of hackers hacking honeypot computer systems
- Imagine for a second that you just’re an AI
- 6 startup founders gaze right into a future-of-work crystal ball