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Fed raises interest rates by another 0.5%

Edition #45 - 18 DEC 2022


The Federal Reserve on Wednesday raised its benchmark interest rate to the highest level in 15 years, indicating the fight against inflation is not over despite some promising signs lately.

Keeping with expectations, the rate-setting Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%. The increase broke a string of four straight three-quarter point hikes, the most aggressive policy moves since the early 1980s.



gaming developments

  • The Shiba Racing Team is set to release the genesis collection of Racing NFTs supported by a P2E racing game in the SHIB metaverse;

  • Illuvium releases Overworld as it attempts to bring AAA quality to web3 gaming;

  • The Sandbox plans for 2023 season's greetings event with 250k SAND in prizes and more;

  • Epic Games launches Verse, the Metaverse programming language.


metaverses & Adoption


defi


funding rounds

  • Web3 privacy firm Aztec Network raises a $100 million Series B in a round led by a16z crypto, with A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi and AVG in participation;

  • ​​Web3 infrastructure company Blocknative raised $15 million in a Series A-1 funding round led by Blockchain Capital, Foundry Group, Rho, IOSG Ventures, Robot Ventures, Fenbushi Capital, HackVC, Industry Ventures and others.

  • Сryptocurrency insurance firm Evertas raised $14 million in a Series A funding round led by Polychain Capital, with participation from SinoGlobal Capital, CMT Digital Ventures, Foundation Capital, Morgan Creek, Bloccelerate, network0, Matrixport, and HashKey.

 



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