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- 🗿 Web3 Funding is Hot, Bear Market Over??
🗿 Web3 Funding is Hot, Bear Market Over??
Lens, Magic, and others raking in massive funding rounds
Today’s No FOMO newsletter is brought to you by…
GM. Two lattes deep in Lisbon, and we’re feeling good. The Binance/Coinbase/SEC saga continues as the industry keeps pushing forward – web3 broke $140M in funding in the last two weeks alone.
☕ *knuckle cracks* Let’s get into it.
Today’s Specials:
No FOMO News 📰 : Binance to Halt Dollar Deposits 😁
No FOMO 🗿 : Thru the Lens of Decentralized Social Media 🔬
NFT Power Rankings 🔥 : Introducing, Tiers. Find Pudgy, Yuga, Azuki + DeGods on our A-list NFTs 🏭
AI Intel 🤖 : US Senators Propose AI Bills for Transparency and Innovation 🦿
You Raised? 💰 : Magic and Lens Lead Huge Funding Week 🤑
No FOMO News 📰
Crypto Exchange OKX Burns $258M of OKB Tokens in Record Move (CoinDesk)
Binance.US to halt dollar deposits after SEC crackdown (Reuters)
Hong Kong Monetary Authority to Prepare for Retail CBDC (CoinDesk)
Australia's largest bank blocks payments to some crypto exchanges (Reuters)
EU starts countdown to crypto legislation, adds MiCA to official journal (Cointelegraph)
Gary Gensler: Crypto market is like 1920s stock market, full of 'fraudsters' (Cointelegraph)
Walmart launches accelerator program for Web3 startups (RetailDive)
Cathie Wood’s ARK loads up crypto bags, buys $19.9M Block shares (Cointelegraph)
Looking Thru the Lens of Decentralized Social 🔬
Our friends @ Lens Protocol, developed by Aave, added $15m to it’s $50M bag to further develop its decentralized social networking ecosystem.
What does Lens do exactly? It’s basically a Twitter alternative with some new toys.
The protocol combines web3 with social media. Connect your wallet, upload content, and take your “social graph” wherever you go on the interwebs. They aim to make networks more equitable and democratic by letting you control your data.
To be clear, this is not an ad or shill. We simply want to highlight the emerging social media landscape as more alternatives to centralized content launch and mature.
Here are some of our de-social favs:
Still in development: Most budding social playgrounds like Lens are currently in beta, with plans to open access as the ecosystem grows.
But as more users pour in to create and engage, developers build various applications, such as Orb, Riff, and Enso Collective.
Why should I use new platforms like Lens? I already have too many social profiles.
Think of Lens like an open-source Twitter where you can see anyone’s Twitter content wherever you go on the Internet, but developers can create their own alternative versions of Twitter with their favorite products and features, and you, the user, can choose which versions of Twitter best fit your vibe.
As they slowly integrate more video capabilities and payment gateways, Lens aims to create a truly open platform where contributions shape its evolution.
We use it to distribute more of our newsletter content, and we support the platform and the values that back it!
What we’d like to see more of from Lens: Web3 social protocols need accessible options to attract a broader audience beyond crypto-insiders.
Let’s bring in some more normies and make it easier to unlock these bada$$ tools without the jargon and gatekeeping.
How can we curate more well-rounded topics? Onboard more non-industry creators.
🔥 NFT Power Rankings 🔥
Special edition this week – we’re launching tiers!
PollWhat do you think of tiers vs rankings? |
AI Intel 🤖
Tech leaders are calling for an A.I. pause because they have no product ready, Palantir CEO says (CNBC)
Nvidia’s AI software tricked into leaking data (Financial Times)
US senators propose AI bills for transparency and innovation (Cointelegraph)
Marc Andreessen Warns Against 'Government-Protected Cartel' of Major AI Firms (Decrypt)
If AI invents a new medicine, who gets the patent? (StatNews)
You Raised?? 💰
Despite a “bear market,” web3 startups had a huge couple of fundraising weeks totaling $140 million. Magic takes home the biggest prize at $52m, but others aren’t far behind.
We’re not saying the bear market is over, but a dramatic uptick in funding can’t be a bad sign. Here are the highlights:
Aave’s Lens Protocol raises $15M to build the decentralized social web (TechCrunch)
Decentralized Mining Startup WOW EARN Raises $30 Million (InvestingCube)
Griffin Gaming Partners and Bitkraft co-lead investors in a $12 million Series A funding round for MetaMask and Game7’s HyperPlay (CoinTelegraph)
Haun Ventures Leads Argus Labs' $10M Raise for Ethereum Gaming Networks (Decrypt)
PayPal Ventures Leads $52M Funding Round for Web3 Firm Magic (Cryptopotato)
BNB NFT marketplace Tabi raises $10M in angel funding (CoinTelegraph)
Shameless Shill + Alpha
This is NOFOMO, the newsletter keeping you up-to-date on all things AI, crypto, and NFTs.
Whether you're a seasoned investor or just getting started, our expert writing team will bring you the latest news, trends, and insights from the rapidly evolving world of robots and digital assets.
Plus, we ratioed Bloomberg once, so we think we’re pretty cool.
We’ll try to make it as fun as possible in the process.
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