White Star Capital Digital Asset Fund - newsletter #72
Crypto companies are tempting top talent away from Big Tech to build Web3
Crypto companies are tempting top talent away from Big Tech to build Web3
Web3’s decentralized infrastructure gives users more freedom and ownership than ever before. The revolutionary paradigm shift from web2 is attracting the brightest minds and top talent to crypto. Many are leaving lucrative jobs at Facebook, Google and Amazon to build in web3.
"Naturally, people will want to work on what they view as the most exciting and innovative developments in the technology space, and currently, that is crypto and Web3," Alex Bouaziz, CEO and co-founder of payroll software firm Deel, told CNBC.
David Marcus, a Facebook executive who resigned at the end of 2021, sums up the current excitement and passion among builders.
The enthusiasm is electric and has also led to finance converts. Goldman Sachs global markets co-head of operations, Roger Barlett left to join Coinbase. He described the decision as a “once in a lifetime opportunity to be part of building the next stage of the digital evolution” in a LinkedIn post.
We are seeing the dominoes fall into place with the top minds being primed to solve the biggest challenges in building a decentralized and permissionless backbone for web3.
We are excited to empower companies and builders on their journey.
🔦 White Star & Portfolio Spotlight
JellyFi prepares to launch and renames to Atlendis
The name Atlendis fits with the idea of vastness and endless possibilities for innovation. The update comes with plans to launch Atlendis Labs, Atlendis Protocol, and AtlendisDAO. Atlendis Labs will be the organization and team behind Atlendis protocol. Atlendis protocol encompasses the capital-efficient DeFi lending protocol for uncollateralized crypto loans. We are excited for the coming months.
Rally reaches an impressive milestone for their creator & community-owned economy
Rally's collective creator & community-owned economy is worth nearly $110M USD and consists of 280 Creator social tokens. 59% of our Creators have economies worth >$100K USD and 10% have economies worth >$1M USD.
ALEX is now available on your phone with XverseApp
ALEX announced the long-awaited release of the DApp browser in XverseApp. All existing decentralized apps built using Stacks will automatically work with Xverse wallet.
🏦 Enterprises & Institutions
Korea's largest bank to launch the country's first crypto investment fund
Kookmin Bank, South Korea's largest bank by net assets, is launching crypto investment products targeted at retail investors.
London Stock Exchange buys TORA for $325 million in digital asset push
Following completion, TORA will be part of LSEG’s data and analytics division.
Crypto unicorn Bitpanda snaps up FCA-registered custodian in first acquisition
Bitpanda, the Austrian investment platform, has acquired British crypto and DeFi custodian Trustology for an undisclosed sum.
More than 75% of family offices see a benefit in crypto, BNY Mellon finds
A new study from the investment banker BNY Mellon found that 77% of family offices are interested in or are involved in crypto.
Puma registers ENS domain, changes name to Puma.eth on Twitter
Sports brand Puma registered its own ENS name, announcing the change with an update on Twitter.
L’Oréal Eyes NFTs and the Metaverse, Filing for 17 Virtual Goods-Related Trademarks
The cosmetics giant has filed trademarks for a slew of its properties, indicating plans to venture into virtual cosmetics.
Gucci bought a plot of virtual land in The Sandbox to create themed experiences in the metaverse
The luxury brand said it is expanding Gucci Vault, its Gen Z focused online concept store, to create an interactive fashion experience.
BNY Mellon plots launch of crypto custody platform
US bank BNY Mellon is planning to launch a digital asset custody platform to enable institutional clients to gain exposure to crypto.
Animoca Brands and Cube Entertainment complete establishment of AniCube joint venture
Animoca Brands and Cube Entertainment announced today that they have completed the establishment of their new joint venture, named AniCube Entertainment (“AniCube”).
⚖️ Government & Regulation
Crypto legislation in Panama advances with committee meeting
A group of lawmakers in Panama discussed two crypto-focused bills during a February 22 meeting.
Ukrainian government raises more than $10 million in crypto following public appeal
Nearly $10 million in the form of bitcoin, ether and other digital assets has been raised since the Ukrainian government issued a direct appeal for crypto donations this weekend.
South Korea to invest $187M in national Metaverse project
The South Korean government has pledged $186.7 million to support the growth of its new Metaverse platform called the Expanded Virtual World where creators, industry, and commercial talent are expected to converge.
💰 Funding & Exits
Helium raises $200M at a $1.2 Billion valuation to build 5G telecommunications coverage
Helium continues to build off its success in IoT coverage by expanding into 5G. Tiger Global and FTX Ventures are among new investors.
Luna Foundation Guard raises $1 Billion for Terra Ecosystem
The $1 Billion will act as a bitcoin reserve during USDT redemptions. Jump Crypto and Three Arrows Capital led the raise.
Amber Group raises $200M at a $3 Billion valuation
Temasek led the round for Amber Group, a liquidity and market making firm.
Jambo secures $7.5 million in seed funding to build Africa's web3 'superapp'
A company looking to seed Web3 penetration in Sub Saharan Africa via a superapp has raised $7.5 million from early backers.
Solana-based programmable cash stream protocol Zebec raises $15 million
Crypto settlement startup Zebec announced last Tuesday that it raised $15 million in a Series A funding round.
ConsenSys alum raises $34M for his crypto startup Aligned
Sam Cassatt's web3 infrastructure startup has emerged from stealth with $34 million in funding from GSR and others.
Axie Infinity Sets Record-Breaking $4 Billion In NFT Sales
Axie Infinity, the Ethereum-based video game, continues to amaze its fandom over the last year.
Ex-Meta Coders Raising $200M to Bring Diem Blockchain to Life: Sources
Aptos is eyeing a $2 billion valuation for its bid to bring the Diem blockchain into users’ hands, sources tell CoinDesk.
🚀 Project Launches & Updates
Crypto exchange FTX.US is launching a new gaming business
Dubbed FTX Gaming, the new unit aims to help gaming studios integrate blockchain technology and NFTs into their games, according to two job openings posted by FTX.US earlier this month.
Ethereum scaling solution StarkNet has now fully launched
StarkNet has been rolling out in stages but it’s now fully deployed — with plans to be handed over to its community this Summer.
With Vesta, Investors Can Now Buy Home Equity Slices Via Fractionalized NFTs
A real estate startup has rolled out a service that allows homeowners to part with a fraction of their equity via fractionalized NFT sales.
Microsoft’s Minecraft Goes Web3 With 'NFT Worlds' on Polygon - Decrypt
NFT Worlds is a metaverse project built on top of Minecraft using Ethereum sidechain Polygon. But it's unclear if Microsoft endorses it.
🔥 Other Bits We're Excited About
Snoop Dogg Drops 10,000 Playable Sandbox Avatar NFTs
The Sandbox is going to launch a grand collection of unique Snoop Dogg NFT avatars that are fully playable in the game.
There’s a Vending Machine in New York City Selling Solana NFTs
Solana NFT marketplace Neon lets you buy non-fungible tokens in person with a credit card—no crypto required.