Kategorie: Crypto Business

• Magic Eden Ventures has invested in eleven Web3 game studios.
• The 11 studios include Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, and Stella Fantasy.
• Magic Eden launched its venture arm in July 2022.

Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has announced investments in 11 Web3 game studios. The eleven studios range from Web3-focused developers to traditional gaming startups, Magic Eden said in a blog post.

Magic Eden to help game studios launch NFTs

In the announcement on 23 February, Magic Eden said the investments are a continuation of its commitment to the development and adoption of Web3 gaming. The mission comes a few days after the platform expanded to the Polygon blockchain and hired Chris Akhavan as Magic Eden’s Chief Gaming Officer.

Launched in July 2022, the unit is backing Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, Stella Fantasy, Rooniverse, Moonveil (STEALTH), Strider and Lucky Kat. 

The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features.

Akhavan commented on the support the NFT platform was extending to the 11 studios, noting that the gaming industry is still an emerging sector that could yet see massive growth.

“Experienced game studios building Web3 enabled games are pioneering something special – fun games with digital asset ownership and powerful economies that enable communities and creators to deepen their connection with the games they love. It’s a powerful combination,” he added.

According to him, Magic Eden wants to help these game studios “achieve long-term success,” through its venture arm. This includes via monetization, with access to in-game marketplace support and fan engagement within the broader Web3 ecosystem key drivers of adoption.

The post Magic Eden invests in 11 Web3 gaming studios appeared first on CoinJournal.

• Tencent Cloud has signed an MoU with Web3 blockchain infrastructure platform Ankr.
• The company also revealed partnerships with Avalanche, Ethereum scaling solution Scroll and Mysten Labs’ Sui blockchain.
• Tencent Cloud is looking to help promote Web3 adoption.

Tencent Cloud, the cloud business division of tech giant Tencent, has signaled its commitment to Web3 development with a major announcement.

On 22 February, the company revealed it was looking to be a significant contributor to the evolution of Web3. Tencent made the developments public at the Tencent Cloud Web3 Build Day, an industry-focused event held in Singapore on Wednesday.

Tencent Cloud “preparing for the Web3 future”

As part of this goal, Tencent Cloud has signed a Memorandum of Understanding (MoU) and sealed strategic partnerships with multiple blockchain platforms. Tencent’s roadmap towards the objective includes development of blockchain API services and foundational infrastructure for growing the Web3 global community.

Poshu Yeung, Senior VP at Tencent Cloud International, commented on these collaborations, noting that the company is bullish on the future of Web3.

“With more businesses now keen to explore and adapt to an efficient, transparent digital future, we are ready to leverage our many years of technical experience in the fields of games, audio, and video to provide strong technical support for Web3, and work with industry partners to create a more immersive experience and nurture a better Web3 ecosystem,” Yeung added.

Tencent partners Ankr, Avalanche and other blockchain platforms

As highlighted in our price prediction for Ankr (ANKR), Tencent Cloud has signed an MoU with the Web3 infrastructure provider in a collaboration that looks to help develop a suite of blockchain application programming interface (API) services.

Tencent also announced strategic partnerships with Ava Labs’ smart contracts blockchain platform Avalanche, zkEVM zk-Rollup platform Scroll and Mysten Labs’ Layer-1 blockchain Sui. The collaborations will help accelerate Web3 adoption, the firm said.

Apart from the three partnerships, the company has unveiled its Metaverse-in-a-Box product, a one-stop solution that offers high-performance, out-of-box software development kits (SDKs). The low-code solution offering provides for wide application across gaming, media and entertainment.

The post Tencent eyes support for Web3 growth with Ankr, Avalanche partnerships appeared first on CoinJournal.

• Ankr has entered a strategic partnership with Microsoft.

• The partnership will see Ankr provide infrastructure solutions that connect builders, applications, and users to web3. 

• ANKR is up by more than 37% in the last 24 hours.

Ankr and Microsoft enter a strategic partnership

Ankr announced on Tuesday, February 21, that it has entered a strategic partnership with Microsoft. 

The team revealed that the partnership would see Ankr provide infrastructure solutions that connect builders, applications, and users to web3. 

Ankr 🤝 @Microsoft

We’ve partnered with Microsoft to support enterprises and organizations needing access to blockchain data with a reliable, easy-to-use node hosting service 🫡

Read more ⬇️https://t.co/XF8CG1grg5 pic.twitter.com/8tv5Mfz7FH

— Ankr (@ankr) February 21, 2023

The partnership is also designed to provide high-performance blockchain connections for individuals and institutions who desire to build new web3 experiences that would help onboard the next billion users. 

In its blog post, Ankr said the two entities are working toward a shared goal of making this service available soon through Microsoft’s Azure marketplace. They will provide a readily accessible gateway to blockchain infrastructure for millions of monthly customers.

The Ankr enterprise node service will allow individuals and entities to launch enterprise-grade blockchain nodes with custom specifications, optimise data querying for high levels of speed and reliability, and easily track the performance of their nodes anytime, 

The enterprise node service will offer low-latency blockchain connections to web3 projects

According to Ankr, the enterprise node deployment service will offer global, low-latency blockchain connections for any Web3 project or developer. This would allow them to focus their time and attention on innovating and scaling their Web3 projects and applications.

While commenting on this latest cryptocurrency news, Chandler Song, Co-Founder & CEO, Ankr said;

“This was a critical step in bringing blockchain infrastructure to a growing sector of the digital economy. The partnership, while an incredible milestone for Ankr, is also a key indicator of how far the decentralized web has come in integrating with the crucial players in every layer of web systems. The end result will be an era of extremely prolific building for blockchain-based applications from new Web3 projects as well as large enterprises entering the space.”

Rashmi Misra, Microsoft General Manager AI & Emerging Technologies, added that;

“Microsoft’s mission is to empower every person and every organization on the planet to achieve more. Many developers and organizations are exploring how Web3 can help solve real-world business challenges, and our partnership with Ankr will enable them to access blockchain data in a reliable, scalable, and secure way. Together with Ankr, we are building a strong Web3 infrastructure layer whether you’re a developer building the next big decentralized application (dApp) or an established enterprise exploring Web3.”

ANKR, the native token of the Ankr blockchain, is one of the best performers over the last 24 hours. At press time, the price of ANKR stands at $0.0466, up by more than 37% in the past 24 hours. 

Ankr concluded that its partnership with Microsoft will provide a fully managed node hosting solution that comes with a wide range of custom specifications for blockchain nodes for memory, bandwidth, and global location according to customer needs. 

The post Ankr partners with Microsoft to offer enterprise node services appeared first on CoinJournal.

• Galois has halted all trading after losing $40 million to FTX.

• The hedge fund has become the latest entity to be negatively affected by FTX’s collapse. 

• The company said it would take a few years to recover some of its funds.

Galois loses $40 million to FTX

Galois, one of the leading crypto-focused quantitative funds in the world, has shut down operations. This latest cryptocurrency news comes after the company revealed that it lost a sizeable portion of its capital in the collapse of FTX.

The hedge fund’s co-founder Kevin Zhou told the Financial Times that they lost $40 million following the collapse of the FTX cryptocurrency exchange. He said;

“Given the severity of the FTX situation, we do not think it is tenable to continue operating the fund both financially and culturally. Once again, I’m terribly sorry about the current situation we find ourselves in.”

In November, the company revealed that its $40 million was stuck on the FTX platform. Back then, Zhou told investors that it would take a few years to recover some percentage of the funds. At the time, he said;

“We will work tirelessly to maximize our chances of recovering stuck capital by any means.”

FTX’s collapse continues to take more companies down

According to the Financial Times, Galois has sold its bankruptcy claims for 16 cents on the dollar. Zhou stated that

“This entire tragic saga starting from the luna collapse to the 3AC [Three Arrows Capital] credit crisis to the FTX/Alameda failure, has certainly set the crypto space back significantly. However, I, even now, remain hopeful for crypto’s long-term future.”

Since FTX’s collapse, a few companies have filed for bankruptcy. Earlier this year, the lending arm of crypto platform Genesis filed for bankruptcy, with over $3 billion in debt. 

BlockFi is another company that filed for bankruptcy following its massive exposure to FTX. 

The post Crypto hedge fund Galois shuts down following exposure to FTX appeared first on CoinJournal.

• Sony Network and Astar Network have partnered to launch a web3 incubation program.

• The program will support projects that focus on the utility of NFTs and DAOs. 

• The incubation program will be organised by Startale Labs. 

Astar Network and Sony Network set up a web3 incubation program

Sony Network Communications, a business division of The Sony Group, has announced a strategic partnership with Astar Network, a leading multi-chain smart contract network.

The partnership has seen the two entities launch a Web3 incubation program for projects that focus on the utility of non-fungible tokens (NFTs) and decentralised autonomous organizations (DAOs).

The companies revealed that Singapore-based Startale Labs would organise the Web3 incubation program. The program will run from mid-March to mid-June of 2023. Projects interested in joining the program can apply starting today, Friday 17th, until March 6th. 

According to the companies, accepted projects will be divided into 10 to 15 groups. They will learn various aspects of the web3 ecosystems from global venture capital firms such as Dragonfly, Fenbushi Capital and Alchemy Venture.

The incubation program will focus on real-world use cases of blockchain

According to Sony Network Communications, the incubation program is designed to look at the various ways blockchain technology can solve numerous problems in their industry. 

Furthermore, Sony Network can invest in projects in the incubation program. Astar Network has rolled out some exciting features since the start of the year.

Last month, Astar Network launched its Cross-Virtual Machine (XVM) functionality on the public testnet Shibuya. At the time, Astar Network said allowed projects to build on its network seamless interoperability between different smart contract environments such as the Ethereum Virtual Machine (EVM) and WebAssembly (WASM).

In November 202, the Astar Network also rolled out Swanky, an all-in-one tool that gives developers what they require to build WebAssembly (WASM) smart contracts easily.

Also in January, Astar Network partnered with Toyota, one of the leading car manufacturers in the world, on a web3 hackathon. 

The post Sony Network and Astar partner for web3 incubation program appeared first on CoinJournal.