🎮Epic Games $2B to Build the Metaverse - TWJ #124
Gaming companies are already building the existing metaverses.
In today’s issue:
The crypto market is down with the total market cap sitting at $1.8-1.9 trillion. CELO is the worst performer in the top 100 in the past 7-d. Global markets are waiting for the US CPI number release at 8:30 am EST.
In other news, Epic Games raised $2B to “build the metaverse”, Uniswap launched a venture arm, and Mastercard filed for multiple crypto trademarks.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Epic Games Raised $2B to “Build the Metaverse”
The company behind the world-famous Fortnite game has raised $2 billion at a $31.5 billion valuation with ambitions to “build the metaverse”. The round was split evenly between Sony and LEGO’s parent company, KIRKBI. Tim Sweeney, the Founder & CEO of Epic Games, is also the original developer of Unreal Engine, an extremely well-known and massively utilized game engine that will without a doubt also power the future of the Metaverse.
⎆Uniswap Launched a Venture Arm
The world’s top decentralized exchange, Uniswap, has announced the launch of its venture arm. Named Uniswap Labs Ventures, the new entity will invest in web 3.0 projects with a focus on blockchain infrastructure, developer tools, and consumer-facing apps. The AUM was not disclosed, but the capital will be coming directly from Uniswap’s balance sheet.
⎆Mastercard Filed for Multiple Crypto Trademarks
Financial service giant Mastercard has filed for multiple crypto and metaverse trademarks, indicating its seriousness in embracing crypto and blockchain as the technology of the future.
The 15 filings by Mastercard, with an April 7 status date, include NFT backed multimedia, marketplaces for digital goods, and payment transaction processing and e-commerce software business transactions in the metaverse.
👨🏻💻Decentralized Finance (DeFi)
Alchemix Introduces Algorithmic Market Operator
ETH Mainnet Shadow Fork is a Success
Multichain Cross-Chain Messaging Protocol is Live
Uniswap Launches Uniswap Labs Ventures
Redacted v2 Rollout
Dopex Introduces SSOV v3
ICHI Updates after the Market Selloff
Lido Open a new Node Operator Onboarding Round for Ethereum
Bastion Lockdrop Phase II: Stableswap
Coinbase Increases Transparency for the New Assets Listing
🏛Governance - Active Proposals
Compound - OpenZeppelin Security Partnership - 2022 Q2 Adjustment V3
🦮NFT & Metaverse
Mastercard Files 15 Metaverse and NFT Related Trademarks
Bored Apes Go Hollywood With Coinbase-Produced Movie Trilogy
Nansen Reports Blue Chip and Metaverse NFTs Propel Growth of NFT Market
Indian Official Twitter Accounts Hacked, NFT Content Posted
NBA’s Crypto Chief Registers Second .Eth Domain
Meta Starts Building a Digital Economy for Creators in Horizon Worlds
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Shrapnel - $7M Unknown Round
Noox - $2M Seed Round
Volt Protocol - $2M Seed Round
Eden Games - $16M Acquisition by Animoca
White Star Capital - $120M DAF II
Fabric Ventures - $245M Web-3 Focused Fund
IOST Foundation - $100M Developer Fund
TON Foundation - $250M Ecosystem Fund
⚖️Regulatory Update
India Crypto Trading Volumes Collapse 10 Days After New Tax
FTX Co-CEO Donates $4M to Republican PAC Ahead of Midterm Elections
Virgil Griffith to Be Sentenced in New York Court Tuesday
📚Noteworthy Reads
Kyle Harrison’s Read on Why Most VCs Suck At Talent
Kyle Samani’s Thread on Decision Making
Sam Chepal’s Read on Do Kwon’s Luna Bet: A Quantitative Analysis of Aping Into A Twitter Wager
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.