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Standard & Poor's credit rating unit launches a specialised DeFi division

Edition #18 - 20 MAY 2022

S&P Global Ratings acknowledges that DeFi is gradually revolutionising the capital markets, from market participants to the formation of new asset classes and the emergence of improved competencies to execute financial transactions. The move, in a first by a major credit agency, signals a breakthrough for DeFi adoption.

gaming developments

  • Wax and Hive ecosystems, dominated by Alien Worlds and Splinterlands respectively, are way ahead of other blockchains in comparison by gamer market share;

  • Leading fantasy football platform Sorare has released its official iOS app on the Apple App Store;

  • Axie Infinity gets hacked once again, this time its Axie’s core social media channel Discord;

  • The leading metaverse game Sandbox announces an updated landowner roadmap, citing improvements and detailing essential milestones.

metaverses & Adoption

  • Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, is warning of hard times ahead for cryptocurrency investors as the Federal Reserve and other central banks tighten monetary policy;

  • Russia legalizing bitcoin and crypto is a matter of time, says Russian Ministry of Industry and Trade;

  • Unsupervised survey: 44% of marketers plan to run campaigns in the metaverse;

  • Spotify is testing a way for artists to display their non-fungible token (NFT) collections;

  • NBA Top Shot surpasses $1 billion in all-time sales volumes.

zen portfolio highlight

This week we highlight out portfolio company Ertha, a real world simulation, crypto based NFT game featuring a player driven economy, wars and politics.

Ertha is proud to anounce its v0.2 Beta release, introducing numerous new features, fixes and adjustments to its expansive gameplay and in-game economy.

Find out more about Ertha and keep in-the-loop with the latest developments on Twitter, Discord and Telegram.


  • USDC reserves on exchanges have fallen down over the past few days;

  • Tether’s circulating supply reduced by $7 billion in a week, amid depegging concerns;

  • Total Value Locked (TVL) across DeFi down 40% in the last 7 days, concentrated to crypto lenders;

  • Large LUNA investors disclose losses after Terra’s collapse, including a $3.5 billion incurred by Hashed;

  • DeFi lender Scream left with $35 million in bad debt after quoting depegged stablecoins at $1.

funding rounds

  • N3TWORK, a blockchain gaming studio, has raised a $46 million Series A, lead by Griffin Gaming Partners;

  • Bitkeep, a crypto wallet, has closed a $15 million Series A round, valuing the company at $100 million. Dragonfly Capital led the investment round;

  • KaJ Labs, developer of the Lithosphere Network, has raised $400 million via a Token Subscription Facility (“TSF”) in a Seed round led by GEM Digital.


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