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Web3 Foundation sets up a DOT prize pool worth about $65 million for deploying Polkadot JAM upgrade

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 completes new round of financing, DWF Labs participates in the investment

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 completes $3 million seed round of financing, with participation from IDG Capital and others

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.

Web3 gaming venture capital fund Griffin Gaming Partners announces $500 million target for third flagship fund

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 announces it has signed a letter of intent to acquire Web3 development company Mad Hatter Society

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 Complete $1.9 Million Funding

Wbe3 Entertainment Studio and technology company 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 completes $3 million in financing, with participation from IDG Capital and others

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 and 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.

Web3 artificial intelligence engine Orbofi AI launches V2.1

On May 18th, according to official sources, the Web3 artificial intelligence engine Orbofi AI released version 2.1, providing over 2.5 million voice-driven, multi-mode, and personalized AI clones. Users will be able to create their own personalized AI companions and import them into platforms such as WhatsApp, Messenger, Discord servers, Subreddits, and more.

OKX Ventures invests in Web3 ‘play ARPG to train AI’ game Blade of God X

The game is currently available in early access on the Epic Games Store.
OKX Ventures invests in Web3 ‘play ARPG to train AI’ game Blade of God X

Web3 game Nyan Heroes donates over $350,000 to animal rescue groups

Web3 game Nyan Heroes combines traditional gaming elements with blockchain technology to enhance player ownership and participation, emphasizing the pursuit of permanent ownership of player digital assets. In addition, Max Fu, CEO of Nyan Heroes developer 9 Lives Interactive, stated that Nyan Heroes is committed to making a real-world impact, having donated over $350,000 to animal rescue organizations, demonstrating their passion for charitable causes. (Benzinga) Earlier in March, Web3 shooter game developer 9 Lives Interactive announced the completion of a $3 million financing round led by Mechanism Capital, with participation from Delphi Digital, Sfermion, 3Commas Capital, Momentum 6, Kosmos Ventures, Devmons GG, and CSP DAO. The new funds will be used to support the global release of their first game, Nyan Heroes.