weekly web3 gems // cw 8 [2023]

whats up in web3?

???Coinbase Unveils Low-Cost Ethereum Layer 2 Network Designed to Draw in Developers

The renowned cryptocurrency exchange giant, has launched its own testnet version of Ethereum Layer 2 network called Base. The platform is designed to be a low-cost, open-source developer sandbox for decentralized applications (dapps), and will eventually connect to the main Ethereum network. Unlike other Layer 2 networks, Base won't have its own dedicated token, according to Jesse Pollack.

link to the story

????Yield Guild Games Launches $75M Fund to Boost Web3 Gaming

Yield Guild Games (YGG), a top web3 gaming guild, is breaking into venture capital with its first fund, YGG Ventures Fund I. The fund aims to invest in early-stage token and equity deals in web3, gaming studios, and infrastructure to support the growth of the industry. Despite recent market challenges for crypto startups, Li believes this is the perfect time to double down on the web3 gaming space, as the market has bottomed out and there are quality founders with improved game economics.

link to the story

???Spotify Pilots NFT-Gated Playlists, Offering Exclusive Access to Token Holders

Unlocking exclusive content has long been a goal for NFT-based communities, and Spotify is now helping some of them realize that goal with token-gated playlists. The streaming giant is testing playlists that can only be accessed by NFT holders in certain geographic locations. Spotify's move suggests that the company has the technology to offer more content, including songs, albums, or podcasts that could be token gated.

link to the story

?????China supports Hong Kong's crypto vision, as SFC allows licensed exchanges to facilitate retail trading

Hong Kong's Securities and Futures Commission (SFC) has recently released a statement outlining its plans to allow retail investors to trade cryptocurrencies like Bitcoin and Ethereum, through licensed exchanges to ensure investor protection. With Hong Kong aiming to establish itself as a crypto hub, a Bloomberg report reveals that China's Liaison Office officials have been checking on developments and showing support for the region's pursuit of cryptocurrency, despite China's own crypto crackdown in 2021.

linkt to the story

???NBA's NFTs, the Top Shot Moments created by Dapper Labs, might be securities

The case involves a class-action lawsuit against Dapper Labs, which accuses it of violating federal securities laws by offering the NBA-branded collection of non-fungible tokens without SEC registration. A judge from New York denied Dapper Labs' motion to dismiss the lawsuit, ruling that Top Shot Moments could be an "investment contract" under the Howey Test. While Dapper Labs argued that digital basketball cards are not securities, the judge pointed to the "purchasers' fortunes" being tied to Dapper Labs' overall success, indicating the existence of a "common enterprise.”

link to the story

???YouTube's new CEO expressed his excitement for Web3 technologie

Neal Mohan believes that these technologies will allow creators to build deeper relationships with their fans. With the appointment as CEO of the former CPO, advocates of Web3 technologies can expect to see more Web3 integrations into YouTube's offerings.

link to the story

fundings of the week

• Indian web3 gaming studio Kratos raises $20M seed round at $150M valuation, acquires IndiGG.
• link to the article
• Web3 Social Startup Towns Raises $25.5M Led by Andreessen Horowitz. link to the article
• Retro-Style Ethereum NFT Metaverse Game Worldwide Webb Raises $10M. link to the article
• Strider Raises $5.5M Seed Round Led by Makers Fund and Fabric to Develop Platform for Creatives to Build Collaborative Story-Driven Worlds. link to the article

articles of the week

1) “ARK’s Big Ideas For 2023”, by Ark Invest

This over 100 pages long paper is the annual research report from ark Invest that seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow . I’ve linked you both, the report and a very nice video from Coin Bureau which summarizes it in 20 minutes.

link to the report

link to the summary video from Coin Bureau

2) "9 promising blockchain use cases in healthcare industry”, by Guneet Kaur, Cointelegraph

The use of blockchain technology in the healthcare industry has the potential to revolutionize the way medical records are managed, medical research is conducted and patient care is delivered. This article breaks down nine promising use cases for blockchain in healthcare.

link to the article

podcasts of the week

1) “Ryan Wyatt on Polygon’s Winning Streak”, by gm by Decrypt

Polygon Labs President Ryan Wyatt, the former YouTube Gaming head, helped turn Polygon into one of the crypto industry’s rare winners in 2022. In a lively chat with Dan Roberts and Andrew Hayward, he revealed why the promise of digital ownership pushed him from the gaming world into crypto, and how Polygon has pulled giants like Starbucks, Reddit, and Instagram into Web3. Watch and make sure to subscribe to the gm podcast on Apple or Spotify.

link to the episode

2) “Founder Series #3 mit senken-Gründer Adrian Wons”, by Alles Coin nichts Muss

German start-up senken is the world's largest marketplace for carbon credits, bringing transparency to a market historically dominated by opaque intermediaries. Founder Adrian Wons explains how his company is opening up the market to institutional investors and addressing challenges faced by Web3 entrepreneurs in this podcast with Julius Nagel & Max Vargas.

link to the episode

3) “NEWS: Coinbase launches L2”, by Empire

Jesse and Will from Coinbase join Empire to discuss the news and paradigm shift for Coinbase. The episode explores why Coinbase is building Base, how Coinbase chose to use the OP tech stack, Base's value proposition, how Coinbase thinks about "competition" building on Base, if Base will have a token and more!

link to the episode

That's it! Happy Weekend everyone :)