Weekly Web3 Roundup

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🟣 Moonbirds NFT collection to be stored “in chain” which will allow them to be fully generated off the underlying smart contract. Also, Moonbirds raised $50M in their Series A funding.

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🟣 Meta enables NFT cross-posting between Facebook and Instagram. After a one-time wallet connection on Facebook or Instagram, users (in USA)can freely cross-post their NFTs and the platform will automatically tag the user and artist for free. As of now, Meta currently supports Ethereum, Polygon, and Flow NFTs.

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🟣 OpenSea, the largest NFT marketplace, will not support any Ethereum Forks after The Merge. OpenSea announced last week that they will only be supporting proof-of-stake (PoS) NFTs on Ethereum after The Merge, which is set to occur sometime between September 10 and September 16.

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🟣 DeGods’ price at a new all-time high approaching the NFT project’s y00ts launch. DeGods, the popular Solana NFT project, launched in October 2021. The current floor price of a single DeGods sits at 587 SOL, or approximately $18,650, on the Magic Eden Marketplace.

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🟣 Fifa to launch NFT platform on Algorand approaching the 2022 World Cup. The platform will be called FIFA+ Collect and will feature affordable, inclusive and accessible NFTs that will showcase notable soccer moments, art and imagery.

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🟠 The Province of Mendoza in Argentina now supports the use of stablecoins such as USDT and DAI as a new option of using cryptocurrency to pay taxes.

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🔵 Gabe Leydon raised $200M for his new blockchain gaming venture. The founder and former CEO of Machine Zone has raised $200M for his web3 gaming start-up venture called Limit Break. It will focus on free-to-play blockchain games. The start-up company’s goal is to create a free-to-own game community that will attract fans by giving out free NFTs.

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🟢 South Korea keeps expanding on regulating the metaverse. Heo Eun-ah, a member of the National Assembly, proposed the enactment of the Metaverse Industry Promotion Act as a support to the Web3 Industry. According to the bill, the Metaverse Policy Review Committee would be the one to deliberate on the policies promoting Metaverse development in the country, while the Minister of Science and Information and Communication Technologies should be in charge of defining a final plan every three years.

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🟡 GammaX raised $4 million to create a crypto derivative exchange with combined elements of DEX and a centralized exchange. Some notable investors of the project are StarkWare, the developer of zero-knowledge proof technology, and liquidity provider Dexterity Capital.

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🟡 Reddit co-founder is set to launch a $177M crypto fund. Venture capital firm Seven Seven Six, owned by Reddit’s co-founder Alexis Ohanian, is set to raise $177.60 million for a new crypto-focused fund called Kryptos. The fund will focus on investing in early-stage web3 startups and related cryptocurrency ventures.

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🟡 Solana Defi exchange accidentally locks $661K USDC. Optifi, the Solana-based decentralized exchange accidentally shut down its program and made all funds inaccessible. Optifi promised to reimburse all users’ funds.

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🟡 Ethermine, the world’s largest Ethereum pool has launched a staking pool service that will allow users to contribute funds as low as 0.1 ETH to a massive pool of user contributions that will create and earn new ETH. Unfortunately, Ethermine staking will not be available in the United States.