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Welcome to TechCrunch Crypto, previously often called Chain Response.
To get a roundup of TechCrunch’s largest and most essential crypto tales delivered to your inbox each Thursday at 12 p.m. PT, subscribe right here.
Whats up and welcome again to the fourth version of the brand new and improved TechCrunch Crypto e-newsletter. You in all probability know the deal already, however alongside our frequently scheduled information bits, I’ve added some recurring segments and options — so in the event you like what you see (or don’t), let me know at jacquelyn@techcrunch.com.
In any case, let’s get into the large headlines under.
This week in web3
- Decentralized social community Farcaster is attempting to achieve mass adoption by means of Internet 2.0 methods
- Maybe because of this the bitcoin spot ETFs are but to ship crypto costs to the moon
- SEC’s Hester Peirce nonetheless plans to push for a token ‘secure harbor’ plan
- a16z’s Chris Dixon thinks it’s time to concentrate on blockchains’ use instances, not hypothesis
- Bluesky is now open for anybody to affix
Crunching numbers
This week the crypto market was comparatively up as the 2 largest cryptocurrencies by market capitalization, bitcoin and ether, rose 5.7 and 6%, respectively, on the week, based on CoinMarketCap knowledge. The worldwide crypto market cap elevated 5.5% over a seven-day interval to $1.72 trillion.
Of the highest 10 tokens by market cap, Solana elevated essentially the most on the week at 7.7% on the time of writing.
Our favourite ‘Crypto Twitter’ submit
That awkward second when your crypto mates and normie mates see “zero data” as two completely different meanings. However in case you don’t know…see the definition right here.
Picture Credit: X (opens in a brand new window)
The newest pod
This yr, Chain Response is doing month-to-month sequence diving into completely different subjects and themes in crypto. To begin issues off, this month we’re specializing in NFTs.
For this week’s episode, I interviewed Devin Finzer, the CEO of NFT market OpenSea. That is additionally our first full video recording and it’s on TechCrunch’s YouTube channel; test it out right here.
He co-founded OpenSea in 2017 and it shortly climbed to develop into probably the most well-known — and effectively funded — NFT marketplaces. Two years in the past, it raised $300 million in a Collection C spherical at a $13.3 billion post-money valuation, bringing its complete capital raised to over $400 million. A few of its buyers embrace corporations Andreessen Horowitz and Paradigm, in addition to celebrities like Kevin Durant and Ashton Kutcher.
Regardless of the NFT market’s buying and selling quantity falling from all-time highs in late 2021 to early 2022, OpenSea remains to be pushing ahead, despite the fact that different NFT marketplaces have popped up and challenged their dominance.
Devin and I talk about the significance of web3 video games integrating NFTs, Internet 2.0 corporations launching their very own digital collectibles and challenges {the marketplace} faces.
We additionally dive into:
- Huge use instances for NFTs
- The corporate’s future mission
- Retaining neighborhood members
- Gaining market share and buying and selling quantity
However wait there’s extra…
This week we even have a bonus episode with Hester Peirce, commissioner of the U.S. Securities and Trade Fee.
I moderated a fireplace chat with Commissioner Peirce at Georgetown College’s McDonough Faculty of Enterprise alongside Eddie Cullen, a former candidate for New York Metropolis Mayor in 2021 and co-founder and CEO of Crescite Innovation Company.
We mentioned plenty of well timed subjects, together with the SEC’s spot bitcoin ETF approval, coverage making to maintain crypto innovation alive within the U.S. and the commissioner’s Token Secure Harbor Proposal 2.0 and whether or not Peirce is contemplating a brand new one.
Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the newest episodes, and please depart us a overview in the event you like what you hear!
Comply with the cash
- Superform Labs raised $6.5 million to assist others distribute, handle and entry yield
- MediConCen raised $6.85 million to automate insurance coverage claims with AI and blockchain tech
- Immoblocks raised $5.67 million for its blockchain-based actual property funding platform
- Filecoin-centric staking protocol GLIF raised $4.5 million in a seed spherical led by Multicoin
- Tether led a $25 million Collection A spherical for cellular cost app Oobit
This checklist was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week.
- Why Latin American SaaS startups are completely different from their US friends
- Truly, it’s good for Spotify that Joe Rogan’s podcast is now not unique
- Apple Imaginative and prescient Professional overview: The infinite desktop
- Adam Neumann is attempting to purchase again WeWork
- Mamoon Hamid and Ilya Fushman of Kleiner Perkins: ‘Greater than 80%’ of pitches now contain AI
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