Edition #19 - 27 MAY 2022
After the collapse of the Terra Luna, TerraForm Labs proposed replacing the current Terra network with a new blockchain, Luna 2.0.
As part of Kwon's recovery plan, Terra investors would receive a set number of Terra LUNA tokens. The old blockchain network, Terra Classic, would continue to operate and host Terra USD.
gaming developments
India ranks first globally for Play-To-Earn gaming adoption;
Move-to-Earn platform Stepn is set to bar gameplay in China, market capitalization tanks as a result;
Leading card game Splinterlands sells out its Validator Node pre-sale in 11 minutes, accumulating circa $4 million into the game’s DAO;
Yield Guild Games released its community report for Q1, total scholarships grew 174% in the first quarter.
metaverses & Adoption
JPMorgan has begun using blockchain for collateral settlements, beginning with a pilot transaction last week;
ARK Invest files application for physical Bitcoin ETF;
Curzio Research purchases a land plot in the TCG World metaverse for $5 million, marking the biggest metaverse land deal to date;
Solana briefly overtakes Ethereum in single day NFT trading volume.
zen portfolio highlight
This week we highlight our portfolio company Edensol, a fantasy gaming metaverse combining fun-packed action with P2E features and the use of collectible NFTs on Solana blockchain.
Edensol is launching its highly anticipated debut Genesis Warrior NFT collection on the Magic Eden launchpad – mark your calendars for 28th May. Only 1,000 Warriors are available for mint.
Find out more about Edensol by joining their thriving communities on Twitter, Discord and Telegram.
defi
New Tether (USDT) audit report shows 17% reduction in commercial paper holdings;
Delphi Labs is planning to shutdown DeFi lending protocol Mars after a 99% TVL drop following Terra’s meltdown;
Terra governance system passes a proposal to burn 1.3 billion UST tokens;
Crypto whales ditch Tether holdings for USDC after stablecoin panic;
Ethereum fees drop to new lows in a historic sign in relation to its price.
funding rounds
StarkWare, a blockchain scaling solution, completes its $100 million Series C, bringing the company’s valuation to $8 billion. The round was led by Greenoaks Capital and Coatue.
Flow Carbon, a carbon market infrastructure builder, raises $70 million at undisclosed valuation in an investment round led by a16z.
Babel Finance, a crypto asset manager, completes its $80 million Series B round at $2 billion valuation. Jeration Capital and 10T Holdings led the round.
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