Updates

February & Early March 2023 Crypto News Roundup

10 Mar 2023   |   

Fundraising, Coinbase, Uniswap, UK Digital Pound, Amazon, Polygon, and more… 

Previously published weekly, we’ve now moved to a monthly schedule with our roundup of crypto news. As always, our goal is to focus on the sunny side of the crypto world by sharing positive (but realistic) insights as to how crypto is manifesting in our daily lives.


Fundraising News

Polychain Capital - $400 million

Polychain Capital, a leading investment firm in the cryptocurrency sector founded by Olaf Carlson-Wee, is reportedly in discussions to raise $400 million for their fourth fund. Polychain is recognized as one of the most successful investors in the crypto industry and has a strong track record of backing winners.

Source

10T Holdings - $1 billion

Dan Tapiero of 10T Holdings is targeting a $1 billion capital raise for a crypto-focused fund by the end of Q3, 2023, and has the backing of prominent investors including hedge fund billionaire Alan Howard. The private equity startup, called 1RoundTable Partners, is seen as a natural evolution of 10T Holdings' investment strategy. 

Source

Yield Guild Games - $75 million

Yield Guild Games (YGG), a leading web3 gaming platform, is moving into the venture capital arena with an inaugural target fund of $75 million expected to be named the YGG Ventures Fund. The fund aims to invest in early-stage token and equity allotments in web3, gaming studios, and supporting infrastructure.

The fund's investment committee includes Gabby Dizon, Li Xu, and Jeff Holmberg, who will oversee strategy and day-to-day operations, and manage a team of gaming analysts. Li Xu has also been appointed as a director of YGG Ventures.

Source

Abu Dhabi Initiative to Back Web3 Startups - $2 billion

Abu Dhabi's proposed tech ecosystem, ‘Hub71’, will be a $2 billion initiative to support blockchain-based startups and Web3 technologies in the Middle East. The Hub71+ Digital Assets ecosystem will offer access to various programs and potential corporate, government, and investment partners. The initiative aims to promote startup growth in Abu Dhabi, the Middle East, and global markets, as well as support companies moving to the region.

Source 1, Source 2

Worldcoin - $120 million 

Worldcoin, the ambitious cryptocurrency project that uses eyeball-scanning technology, is reportedly seeking a lead investor to raise up to $120 million. According to sources, the startup founded by OpenAI CEO Sam Altman is in discussions with major investors, including sovereign wealth funds, to fundraise at a $3 billion valuation. The round is anticipated to be a sale of equity plus token warrants. 

Source


Coinbase News

Launch of Base

Coinbase has announced the launch of Base, a Layer 2 (L2) network dedicated to providing a secure, low-cost, and developer-friendly way for building decentralized apps (dapps) onchain. The Base network aims to serve as both a home for Coinbase’s onchain products and an open ecosystem accessible to anyone, anywhere. The platform hopes to assist in the onboarding of the next one billion users into the cryptoeconomy. The chain will be progressively decentralized over time, with the entire project incubated in Coinbase. The platform will not be issued with a new network token. Developers can start building on Base today by visiting the official website.

Source 1, Source 2

Web2 Experience To Web3 With WaaS

Coinbase has announced the launch of a wallet-as-a-service product aimed at crypto companies that have struggled to offer a more user-friendly experience for customers. The new offering is designed to provide an easier, more familiar "Web2" experience for users, making it simpler for them to create crypto wallets with usernames and passwords. The move is part of a wider push from Coinbase to "onboard the next billion users" to the world of crypto. The move is in response to wallets that can be tough for less tech-savvy users to manage, requiring them to remember complex seed phrases to access their accounts.

Source


Uniswap Self-Custody Crypto Wallet

Uniswap Labs, the major DeFi platform, has developed a self-custody crypto wallet, taking UniSwap another step closer to being a one-stop-shop within the crypto ecosystem. However, its launch is pending Apple's approval for the App Store. The wallet is specifically built for iPhones and has already faced several denial reasons, delaying its release. 

Uniswap has recently diversified its focus from being a decentralized crypto exchange to expanding its services to other areas of the crypto industry. Once approved, 10,000 people will be able to download the wallet via Apple's beta testing program.

Source


UK Bank of England Launches Digital Pound

The Bank of England, UK's central bank, has launched its digital pound project, which ‘ has the potential to create a new form of money and payment system’. The digital currency would be exclusively issued by the central bank, with households and businesses being able to store it in a digital wallet accessible via smartphones or cards. 

A statement by Chancellor of the Exchequer, Jeremy Hunt, and Bank of England Governor, Andrew Bailey highlighted that ''A UK central bank digital currency – a ‘digital pound’ – would be a new form of digital money for use by households and businesses for their everyday payments needs." 

Source


Amazon NFTs 

Amazon, the world's largest e-commerce platform, is apparently gearing up to offer its customers the ability to buy NFTs (non-fungible tokens) tied to real-world assets that are delivered straight to their homes, according to sources. The company is said to be planning to notify all US-based Amazon Prime customers of the development once the initiative is to go live. Shoppers will be able to use their credit card to make purchases as they would with any other Amazon order. 

The launch date for this service is currently uncertain, with sources suggesting a launch by May at the latest.

Source


Polygon Zero-Knowledge-Powered ID Protocol

Polygon, the fast-growing scaling solution for Ethereum, has unveiled its zero-knowledge-powered ID protocol. The protocol utilizes advanced cryptography technology known as zero-knowledge proofs (ZKPs) to maintain the privacy of the users on the blockchain. 

With this launch, Polygon announced that developers can now use its ID system for their users to verify their identity without exposing their personal information. Polygon's ID system will allow users to perform KYC verification in a decentralized manner while ensuring that their personal data is secure. 

The launch partners of Polygon's ID protocol include popular platforms like The Sandbox and Collab.Land. It's expected to be the cornerstone for the development of many other blockchain-based enterprise applications going forward.

Source


At Marfire, we offer tailor-made web3 solutions. We invite you to follow our Linkedin page and don’t hesitate to reach out if you have any questions or if you’d just like to chat.

Connect with us individually on Linkedin: Oliver Bell, Edward Noyons, James Hutchings, Kate Bell

Also visit Autonomous Limited, our affiliated company providing services to your DAO/Foundation. Follow Autonomous on Linkedin.

NFA DYOR (Not financial advice. Do your own research.)

Share this post: 
Copyright © 2023 MARFIRE - ALL RIGHTS RESERVED.
Designed by MERGED MEDIA
magnifierchevron-downcross-circle