Web3 game launcher and game infrastructure GGEM, designed specifically for blockchain technology and encryption and chain games, announced the completion of new financing. IBC Group and GensoKishi participated, but the specific amount and valuation data have not been disclosed. It is reported that the new funds will support GGEM to introduce more games into its game launcher, expand its community and game partners, and build and integrate encrypted wallets.

The new holographic display could give NFTs the Pokemon Go treatment.

The Hong Kong Legislative Council is actively seeking feedback on several critical aspects of Web3 policy development, including balancing technical, legal, and regulatory frameworks.

On June 16th, according to CryptoSlate, the Web3 Foundation has launched a prize pool of 10 million DOT tokens (approximately $65 million) to support the deployment of Join-Accumulate Machine (JAM) upgrade to the Polkadot ecosystem. On May 27th, Polkadot founder Gavin Wood revealed that the community had nearly unanimously approved the upgrade proposal.The foundation stated that its initiative aims to promote innovation and enhance the Polkadot ecosystem by implementing various JAM protocols, thereby improving the network's resilience. The 10 million DOT award encourages the creation of JAM implementations in various programming languages, including OCaml, Go, and Zig. Qualified participants must reach specific milestones, such as importing and outputting blocks, meeting performance standards on Kusama and Polkadot, and passing security audits. The plan aims to ensure the development of a decentralized network capable of handling various computing tasks.The foundation stated that JAM provides a universal environment to ensure the scalability of L2, independent of rollup solutions, and meets the diverse needs of any application. It added that the community's strong support for JAM indicates a willingness to accept decentralized innovation while maintaining high standards. Although the upgrade schedule is currently unclear, its implementation will be carried out in five steps, including importation, authoring, speed checks, and security audits.

Web3 game publisher Sidus Heroes announced the completion of a new round of financing on the X platform. Cryptocurrency trading market maker DWF Labs participated in the investment and reached a partnership with Sidus Heroes. The specific financing amount has not been disclosed yet. Sidus Heroes has currently used blockchain technology to create a space-based game metaverse, with products including Xenna, Tembazar, Nidum, and more. It is reported that DWF Labs will support Sidus Heroes' project development and growth, and provide the necessary tools and network for market development.

Web3 social application Halo announced the completion of a $3 million seed round financing on X platform, with participation from IDG Capital, HashKey Capital, Kucoin Ventures, Cyberport, and a group of Web3 angel investors. In addition to these investments, the digital harbor incubation program supported by the Hong Kong government also provided further support for Halo's development. Halo positions itself as a social monetization layer and upgraded its Halo Genesis Pass to Halo Membership Pass (HMP) in April of this year. It is reported that Halo will soon launch an Influencer Badge and integrate with Farcaster, aiming to help creators deepen their connection with their audience and monetize their social influence in innovative ways.

Griffin Gaming Partners, a Web3 game investment fund, announced that the fundraising target for its third flagship fund is $500 million, which is about 33% smaller than its previous fund. The fund has not responded to requests for comment on why it has lowered its fundraising target. Griffin Gaming Partners raised $750 million for its second flagship fund in 2022, when venture capital enthusiasm for Web3 and crypto games reached its peak, but the subsequent bankruptcy of FTX caused the market to slump. As of now, Griffin Gaming Partners has invested in multiple Web3 game studios and infrastructure companies, including game content creator platform Nexus, Web3 game launch platform HyperPlay, Web3 game studio Gallium Studios, blockchain game developer UnCaged Studios, blockchain game studio SuperTeam Games, blockchain game company N3twork Studios, and also led Forte's $180 million Series A financing.

Himalaya Technologies, a US-listed company, has announced that it has signed a letter of intent (LOI) to acquire 100% of the shares of Mad Hatter Society, Inc., a major participant in the Web3 development field. The specific amount has not been disclosed. After this strategic acquisition, Himalaya will expand its digital financial capabilities, enhance its Web3 product portfolio, and significantly strengthen its liquidity pool financing business. It is reported that the acquisition will be completed after the due diligence is completed within 30 days of the signing of the letter of intent.

Wbe3 Entertainment Studio and technology company Feature.io completed a $1.9 million financing round. InterVest, 2PunksCapital, Avalanche, Acme Innovation, and SterlingVC participated, but specific valuation data has not been disclosed. Feature uses its Smart Content™ smart contract technology to connect audiences with brands through interactive touchpoints. These touchpoints can be seamlessly embedded into content that audiences and users love, and each interaction generates automatic rewards, creating revenue streams for users and brands.

Web3 football game project FantaGoal announced the completion of a $3 million financing on X platform, with participation from IDG Capital, OptaJoe, KuCoin Ventures, Chain Capital, and additional $400,000 sponsorship from Sportsbet.io and Whale.io. FantaGoal (FG) aims to establish the world's largest football community, bringing new value and experience to millions of football fans worldwide by closely integrating the football world with blockchain technology, and stimulating fan participation through innovative features such as token rewards.