Blockchain gaming activity experiences 2,000% year-on-year growth
- Zen Capital
- Apr 22, 2022
- 2 min read
Edition #14 - 22 APR 2022
Gaming dApps continue their ongoing developments whilst the metaverse keeps flashing as one of the most exciting opportunities in the blockchain industry. VCs and other investors keep pouring capital into blockchain games, surpassing $2.5 billion in investments in Q1 2022.
Check out the full DappRadar’s Q1 Blockchain Gaming report here.
gaming developments
The $600 million Axie Infinity hack is still developing, with hackers already moving almost $115 million to date, including attempts to launder the funds via centralised exchanges – Binance CEO Changpeng Zhao has announced a recovery of $5.8 million;
Splinterlands, the leading P2E card game, has reported 2.32 million daily NFT rentals on its platform;
Crypto lender YouHodler is hosting a three-day treasure hunt in Decentraland, giving away $30,000 in the process.
metaverses & Adoption
Canadian startup NTRY is using its metaverse platform to show property buyers through properties that are still just plans in an architect’s office – potential buyers are able to walk into the property and surrounding areas to get a real-life sense of the space and the views;
Latest search engine data and exchange volumes shows retail interest in crypto declining as investors search for the next big price mover;
Property prices around El Salvador’s “Bitcoin City” development are heating up – investors are offering hefty premiums for land surrounding Conchagua;
Russia is set to experiment with digital Ruble payments this year;
Goldman Sachs aims to collaborate with FTX ahead of potential public listing;
Chinese man uses Digital Yuan token to pay court-issued fine in a first for the legal field.
zen portfolio highlight
This week we highlight our portfolio company CannaDAO – the Bloomberg Terminal of Cannabis industry.
CannaDAO aims to become a one-stop-shop for cannabis development on the blockchain - a platform for anyone to invest in real cannabis growth operations and digital assets, along with procuring market pricing, trends, news and other information relevant to the industry.
Learn more about CannaDAO, its exciting developments and the upcoming public launch on Twitter and Discord.
defi
Growth in institutional transactions push Total Value Locked in DeFi to $239 billion;
Leading derivatives trading exchange dYdX plans to completely decentralize by end of 2022 – “no central party (including dYdX Trading inc, the holding company) will have the ability to receive trading fees on dYdX”;
Beanstalk Farms, a stablecoin protocol, loses more than $180 million in fourth largest DeFi hack in history;
Cardano (ADA) is set strengthen its ecosystem by integrating USDC and Tether (USDT).
funding rounds
Spruce, a provider of decentralized intentity and data control solutions, has raised $34 million in Series A funding at undisclosed valuation. The round was lead by a16z and included Ethereal Ventures, Electric Capital and Y Combinator
CoinDCX, India’s largest crypto exchange, has completed its $135.9 million Series D this week, valuing the business at $2.15 billion, in a round lead by Pantera Capital and Steadview Capital.
BlockApps, a blockchain infrastructure company, raised $41 million in Series B funding this week, led by Liberty City Ventures and including Morgan Creek Digital, Eidetic Ventures and Givic.
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