Web3 Wednesday - 11/16/22

Web3 Industry Buzz???

We have a lot to say (and share) about #FTX and everything that’s followed in the #crypto industry over the last week — but before linking out to some of the most significant news reports, we recommend reading:

1. This breakdown in Entrepreneur about why these crypto giants keep falling apart [spoiler: greed, incompetence, and balance sheet assets]
2. Fortress’s Crypto Chaos Survival Guide

And now, a few of the updates from last week that we consider “must know”

• If you took a break from the news cycle over the weekend: FTX saga unravels more after the crypto exchange's bankruptcy filing
• If you want to know how other major exchanges and crypto firms are responding: Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse and BlockFi Eyes Bankruptcy as FTX Fallout Continues: Report
• What everyone should know about the fallout — that regulators are getting ready: Banking giants and New York Fed start 12-week digital dollar pilot

And industry buzz not related to FTX drama:

• Businesses Can Now Accept USDC With Apple Pay
• Taking a long-term view of Web3

Brands Entering the Web3 Space ??

The Swoosh has entered the (meta)building.?

• Nike to Open Its Own Virtual Sneaker Store and Trading Platform
• NFTs Are Giving Web3 a Bad Name. Here's What They Both Can Really Do
• What the crypto crash means for fashion’s Web3 projects
• Helping mainstream artists into Web3: The triumphs and struggles

Web3 Funding News ??

And yet - the funds continue to flow. A few smaller entrants were boosted into the space with funding, while TRM Labs landed a Series B to prevent fraud and financial crime for digital currencies. Great timing for them.

• Sepana Raises $10M in Funding Round, Seeks to Enhance Operations in Web3 Search & Indexing Tool Space?
• Web3 messaging infrastructure Notifi raises $10M seed round co-led by Hashed, Race Capital?
• Xternity Raises $4.5M in Pre-Seed Funding to Boost Web3 Games?
• TRM Labs’ Financial-Service Backers Come Back For More In $70 Million Series B Expansion

Tips, Tricks, and Insights from Fortress ??

There’s a lot happening in the Web3 World, and we’re here to help explain. This week we’re discussing the current market landscape and how blockchain will benefit the future of business.

Honestly, this week it feels worth it to end on a second reference to our Crypto Chaos Survival Guide.

We’ll bring more broad-reaching 101 content back next week.?

Reach out to?Fortress Web3 Technologies?on?LinkedIn?or?Twitter?with content requests and ideas ??

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Stay sane out there, subscribers.