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.
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.
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.
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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