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Sunday, September 25, 2022

Cryptobiz Claims That The Web3 Race Is Out There

The current Cryptobiz newsletter has been featuring several major rounds of funding that was dedicated to building the economy for Web3.

Interestingly, Web3 used to be quite an empty buzzword for the industry that was used to describe the next iteration of the internet. In the current scenario, Web3 is still quite an annoying term, but the community of blockchain has been trying to ascribe it some real-world utility.

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After going through the newsletter, one should be able to decide if the crypto community is actually getting pretty close to defining Web3. 

Cryptobiz’s Newsletter Has A Lot Of Information For Web3 Enthusiasts

As reported by Cryptobiz, venture capitalists have been gearing up for a Web3 Summer 2022. If nothing else, it should at least deal with the crippling pain caused by the Summer of Wyckoff in 2021. Framework Ventures has also been anticipating big things for the space. This week, the venture firm also announced that it would be investing around $200 million of a new $400 million fund in Web3 gaming projects. 

Cryptobiz has also spoken about the uncertainty that has surrounded the cryptocurrency laws of India- with the country becoming quite a hotbed for investing in digital assets. Just this week, CoinDCX, the local exchange, became the first crypto-centric business in India to complete a Series D funding round which went on to raise around $135 million to support a few Web3 initiatives. While it isn’t clear as to how the funding is going to be used, Sumit Gupta- the CEO has informed that the country has the opportunity to be a leader in the economy for Web3.

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In The Market Report published by Cryptobiz, analysts from Cointelegraph have already revealed their holdings for crypto. 

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