🎮Sandbox Seeks $4 Billion Valuation - TWJ #129
Minecraft & Roblox meets web 3.0.
In today’s issue:
The crypto market is up with the total market cap sitting at $2 trillion. STEPN (GMT) is the best performer in the top 100 in the past 7-d. US equity futures recovered some of their losses but are still in the red.
In other news, IMF calls for globally coordinated crypto capital controls, Sandbox seeks a $4 billion valuation, and OKCoin launches a fee-free NFT marketplace.
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
⎆IMF Calls for Globally Coordinated Crypto Capital Controls
The IMF has not been shy at showing its dislike towards crypto assets. In its latest Global Financial Stability Report, the IMF has called for the importance of a globally coordinated effort to implement capital controls for crypto assets.
"Essential steps include developing a comprehensive, consistent, and coordinated regulatory approach to crypto assets, and applying it effectively to capital flow management measures; establishing international collaborative arrangements for implementation; addressing data gaps; and leveraging technology (“regtech” and “suptech”),"
⎆Sandbox Seeks a $4 Billion Valuation
One of the most popular Metaverse projects, The Sandbox, is reportedly seeking to raise $400M at a $4 billion valuation. This news came after the project raised a $93M round for its Series B led by SoftBank approximately half a year ago. The project is often compared to Roblox or Minecraft, but in web 3.0, which can potentially scale to billions in NFT-related market activities if it can reach mainstream popularity.
⎆OKCoin Launches a Fee-Free NFT Marketplace
Another notable centralized crypto exchange has launched an NFT marketplace. This time, however, OKCoin decided to launch a fee-free NFT marketplace, showcasing how “rent-seekers” in web 3.0 will become a race to the bottom business model if they don’t start innovating and integrating tokens, which is a core component of crypto projects.
👨🏻💻Decentralized Finance (DeFi)
Optimism Token Rumors
Bancor 3 Beta is Live
CRV Liquid Locker is Live on Stake DAO
Pegasus Guarded Mainnet is Live on Optimism
Tethys Bridge is Live
Vector is Entering the Joewars
MakerDAO to Launch on StarkNet
🏛Governance - Active Proposals
Compound - COMP Rewards Adjustments - Kickstart Rewards: Step Two
Compound - Update Mid-TVL cToken Implementations
ENS - Execute EP9
🦮NFT & Metaverse
Deadfellaz Ethereum NFT Collection Lands Exclusive Deal with UTA
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
BlockApps - $41M Unknown Round
Hedge - $3.7M Seed Round
Delta One - $9.1M Seed Round
Flipside Crypto - $50M Series A
Ziglu - Undisclosed $ of Acquisition by Robinhood
Framework Ventures - $400M Third Venture Capital Fund
⚖️Regulatory Update
Global Regulator: Jurisdictions Not Applying Crypto Laundering Norms
FTX Plan Said to Face CFTC Roundtable
EU Crypto Firms Protest ‘Alarming’ Anti-Money Laundering Laws
IMF Says Capital Control Powers Should Include Crypto
Andre Cronje Teases New Regulation-Focused Crypto Projects
Secret Service Seized $102M in Crypto in 254 Cases Since 2015
📚Noteworthy Reads
Immersion’s Read on The Great Web3 Migration
Frederic Kerrest’s Read on Mental Health & Startup
Lily Francus’s Read on Risk Frees and Currencies
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.