New projects on the horizon!

We are certainly seeing losses in the cryptocurrency and NFT markets, but new projects continue to emerge in these sectors. Companies such as SKNUPS and TGV4 Plus have recently raised funds to finance new Web3 projects. At the same time, celebrities like Dorsey and Jay-Z are investing in growth initiatives in the cryptocurrency industry.

Web3 projects find funding despite bear market

The SKNUPS company has managed to raise $ 3.5 million to set up a Web3 project focusing on collectibles from blockchain games. It must be said that the company offers a platform focused on NFTs of streetwear and beauty brands in the metaverse world. SKNUPS announced its fundraiser and unveiled a partnership with Italian fashion house Dolce & Gabbana.

Similarly, the venture capital firm True Global Ventures 4 Plus (TGV4 Plus) has raised more than $ 60 million in funds to fund TGV’s portfolio of Web3 companies and some Advanced phase Web3 projects. At the same time, the cryptocurrency exchange Huobi Global launched a new investment branch called Ivy Blocks. The goal of this branch is to implement more than $ 1 billion in cryptocurrencies for projects in the Web3 and DeFi sectors.

In addition, Jack Dorsey’s Block (Square) company plans to switch directly from Web3 to Web5. According to her, Web5 would be the new vision of a decentralized internet. Note that Web5 is built on the Bitcoin blockchain only, and it was developed by the TBD branch of Block. She said that today’s web has a big problem: users “are assigned accounts by companies and their data is kept captured in application silos“.

A wealth of cryptocurrency and NFT projects

Celebrities Dorsey and Jay-Z had invested $ 24 million last year to launch a project to help the development of bitcoin (BTC) in Africa and India. The duo returns this year with another project announced last week. It’s about launch of Bitcoin Academy which aims to teach crypto to residents of Marcy Houses, a public housing complex in Brooklyn. In their project, Dorsey and Jay-Z have planned a summer camp where participants will receive a symbolic amount of bitcoins (BTC).

In addition, the identity of the team responsible for Goblin Town, one of the latest NFT projects, is now known. This is the group Truth Labs, which is responsible for two other projects, namely: IlluminatiNFT and The 187. After the team behind Goblin Town on Tuesday revealed their identity through a video of almost four minutes on Twitter, The IlluminatiNFT collection hit a top price of 0.67 ether (ETH).

In their video, the founders said the project has no roadmap, no Discord server and no utilities. They clarified that Goblin Town functions more as a form of group therapy and comic relief.

Despite the bear market and criticism, cryptocurrencies, NFTs and Web3 are booming with more and more new projects. Companies that specialize in these sectors, and celebrities who hold crypto, invest more capital to get things done.

Source: Blokværket

Get an overview of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service, so you do not miss any of the essential Cointribune!

User image

CT writing

Behind the generic signature “Redaction CT” are young journalists and writers with specific profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.

Leave a Comment