Immutable / Polygon, Paris Blockchain Week, Funding Spikes

Top Stories

• VC Funding: Venture capitalists are pouring money back into crypto according to CryptoRank. So far the month of March has seen $6.8 billion raised. This is the biggest monthly funding numbers seen since April 2022 (CD).

• Paris Blockchain Week: Pre summit events have already begun for Paris Blockchain Week which is back for its fourth year. It’s one of the world’s largest conferences tackling all things blockchain, crypto and Web3. The event hosts over 10,000 attendees and sold out last year (CT). 

• Celsius: Lawyer fees in the Celsius bankruptcy are on track to eclipse $140M. The high fees can create additional hardship for the victims of fraud who may already be struggling with financial losses (CS).

Web3 Games

• Immutable/Polygon: Immutable, the leading web3 gaming platform – is joining forces with Polygon the leading scaling protocol – to create the new home of gaming. The strategic partnership is aimed at simplifying the process of onboarding game studios and developers into Web3. (TW). 

• WinZO: Social gaming platform WinZO has announced a $50 million fourth fund to invest in the global gaming ecosystem including Web3 games. The Indian social gaming startup said the new fund will be launched as part of its flagship Game Developer Fund, with $10 million set to be invested in US-based gaming startups (NG). 

NFT News

• NFT Wars: Community wars are killing the NFT space according to wale.swoosh. He argues the space needs more constructive criticism (TW).

• Ordinals: NFT marketplaces are popping up for Bitcoin NFTs (Ordinals). Gamma.io is the latest, having built its presence by supporting creation and auctions for NFTs issued on Stacks, the smart contract layer for Bitcoin (BW).

Into the Metaverse

• China/Metaverse: A report issued by Globaldata, a global consulting and data analysis company, predicts that China will become a leading country in metaverse tech during 2023. The firm believes that the development of other technologies like artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and 6G will allow China to configure itself as a metaverse hub (B).

• iQSTEL: The company announced entering into a Joint Venture with GOTMY to accelerate the launch of a turnkey, white label metaverse solution for iQSTEL’s telecommunication customers. The metaverse market size by revenue is estimated to currently be worth $61.8 billion and expected to grow to $426.9 billion by 2027 (PNW).