Cryptoday 11.18 | Binance Labs makes strategic investment in gaming metaverse platform MOBOX
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Cryptoday 11.18 | Binance Labs makes strategic investment in gaming metaverse platform MOBOX
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Funding Movements
Binance Labs makes strategic investment in gaming metaverse platform MOBOX
Binance Labs has made a strategic investment in the gaming metaverse platform MOBOX (MOMOverse), advancing further development in the gaming platform sector. MOBOX will integrate its game MOMO Farmer as the first game launched on Binance's live mini-program.
DeFi insurance protocol FairSide raises $4.2 million with participation from Alameda Research and others
Decentralized risk-sharing DeFi insurance protocol FairSide has raised $4.2 million in funding. Participants include Alameda Research, Dominance Ventures, Jump Capital, Figment Capital, and Daedalus. The funds will be used to further develop its DeFi insurance protocol. Note: FairSide aims to provide members with comprehensive insurance coverage across multiple blockchains, projects, and types of losses. Cryptocurrency holders will no longer need to manage multiple policies, pay high premiums, or wait for pools to form before obtaining coverage. Through FairSide’s unique product, members automatically receive insurance without needing to purchase specific project-based policies.
Crypto trading platform Defy raises $5.5 million in seed funding
On November 18, Indian social crypto trading platform Defy announced it has raised $5.5 million in seed funding. Investors include Y Combinator, Goat VC, JAM Fund, and Goodwater Capital. Defy is building a social and community-based cryptocurrency exchange that allows users to create profiles and share their crypto portfolios, interacting with friends and followers. The new capital will be used to expand teams in engineering, product, and other verticals.
Arrow Markets, an AMM options protocol built on Avalanche, raises $1.4 million in seed funding
On November 18, Arrow Markets, an automated market maker (AMM) options protocol built on Avalanche, announced it has raised $1.4 million in seed funding. Framework Ventures, QCP Soteria, DeFi Capital, Alameda Ventures, RenGen, CMS Holdings, Avalanche Foundation, and Delphi Digital Ventures participated in the round. Arrow Markets will support the next generation of derivatives markets by providing decentralized options creation and settlement on Avalanche.
Decentralized perpetual contract trading platform Polysynth raises $1.5 million in seed funding
On November 18, decentralized perpetual futures trading platform Polysynth announced it has raised $1.5 million in seed funding. Participants include Jump Capital, DeFi Alliance, Hashed, Smape, Alan Howard (co-founder of Brevan Howard), Sandeep Nailwal and Jaynti Kanani (co-founders of Polygon), Sanket Shah, Rahul Dalmia, and Joel John. The funds will be used to build the team and conduct security audits. The platform uses VMM (Virtual Market Maker) and has already launched a testnet version.
DeFi
Aave launches Aave Arc, a permissioned market based on Aave V2
Aave has announced the launch of Aave Arc, a permissioned market built on Aave V2, designed to create a web3-native experience for financial institutions. Fireblocks has been proposed as the first whitelisted entity. Aave Arc aims to be fully decentralized and governed by Aave Governance.
DeFi protocol bEarn Fi announces consolidation of all core bEarn tokens into a single new token
Mars Finance reports that DeFi protocol bEarn Fi has released a token consolidation announcement stating that all core bEarn tokens will be merged into a new unified token. Detailed information regarding the merger process, timeline, and specifications of the new consolidated bEarn token will be provided within approximately two weeks. All token emissions will cease 24 hours after the announcement.
NFT/GameFi
SushiSwap’s NFT platform Shoyu launches NFT marketplace, with multiple creators initiating NFT auctions
SushiSwap’s NFT platform Shoyu has officially launched its NFT marketplace, where multiple creators have begun hosting NFT auctions, including Thom Mayne, Shavonne Wong, Nicolas Sassoon, Jesse Draxler, Luna Ikuta, and others. Currently, the NFT minting feature on the platform is only available to whitelisted users. Earlier, in early July, SushiSwap community member LevX proposed the creation of the NFT platform Shoyu. The proposal was voted through in mid-August alongside four other proposals, including one related to the multi-chain expansion fund.
NBA star Giannis Antetokounmpo to become global ambassador for NFTSTAR
On November 18, Singapore-based internet company NetEase (Nasdaq: NCTY, “NCTY”) announced that its digital collectibles trading and community platform NFTSTAR (www.nftstar.com) has signed an exclusive licensing agreement with two-time NBA MVP Giannis Antetokounmpo (“Giannis”) and his three brothers—Thanassis Antetokounmpo, Kosta Antetokounmpo, and Alex Antetokounmpo. NFTSTAR will exclusively develop, sell, and trade officially licensed digital collectibles featuring Giannis and his brothers.
Others
IoTeX publishes MachineFi Vision Paper and IoTeX 2.0 Roadmap
According to official announcements, the next-generation high-performance blockchain IoTeX has officially released its MachineFi Vision Paper and IoTeX 2.0 Roadmap, marking the beginning of a new era of billion-dollar machine finance. In the vision paper, IoTeX introduces the future of the Web3 machine economy, elaborating deeply on the concept of machine finance (#MachineFi); presents innovations brought by IoTeX 2.0, transforming traditional IoT and machine-focused sectors into MachineFi dApps; unlocks trillion-dollar opportunities in the Metaverse and Web3 worlds enabled by MachineFi; and ultimately enables millions of users to participate in the machine economy using billions of smart devices. At 1:00 AM Beijing time on November 20, the IoTeX team will host a livestream event for the MachineFi launch, featuring a keynote speech by IoTeX co-founder Raullen on MachineFi. Additionally, more than ten IoTeX team members will engage in multiple themed discussions directly with the community.
Ethereum storage layer protocol Arcana Network launches Alpha testnet and unveils $25,000 bug bounty program
On November 18, Arcana Network, a decentralized storage and data privacy platform on Ethereum, launched its developer-facing Alpha testnet Quantum Descent. The testnet includes features such as identity and access management, decentralized storage, end-to-end encryption, and non-custodial key management. Simultaneously, Arcana is launching a $25,000 bug bounty program, with rewards tiered according to the severity of reported vulnerabilities and prioritization assigned by the Arcana team. The testnet went live on November 17, 2021, IST time, and the bug bounty program runs from November 17, 2021, to December 17, 2021, IST time. Earlier, in October, Arcana Network raised $2.3 million in funding led by Republic Crypto and Woodstock Fund.
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