Web3 gaming information platform GAM3S.GG announced on its social media platform that it will issue the G3 token. It is reported that the token will be used to incentivize platform players and content creators.
Singapore-based BuildBear Labs has secured $1.9m in funding from investors including Superscrypt, Tribe Capital, and 1kx, as well as angel investors such as Kris Kaczor and Ken Fromm. The funds will be used to speed up development of the company's flagship platform, which provides developers with testing and validation solutions for secure decentralized applications. BuildBear Labs' platform is dedicated to dApp development and testing, offering developers the ability to create customised Private Testnet sandboxes across multiple EVM and EVM-compatible blockchain networks, with features including private faucets for unlimited Native and ERC20 token minting.
Nokia expects future developments in the Metaverse, Web3 and AI to lead to a surge in network demand
Nokia expects the development of the metaverse, Web3, and artificial intelligence in the future to lead to a surge in network demand and plans to fill this gap by 2030. Their "2030 Technology Strategy Report" focuses on building the future network architecture to serve emerging innovative markets. Network demand is expected to grow by 22% to 25%. Nokia will focus on investing in network equipment and services. Nokia is also focused on the value internet ecosystem, including decentralization, blockchain, and smart contracts. They plan to focus on human enhancement, spatial computing, and distributed processing in the metaverse field. In addition, Nokia is using metaverse technology to assist aircraft technicians in South Australia and conducting digital twin experiments in Finland.
Web3 sports betting platform Shuffle completes US$2.5 million in financing, with participation from Parc Capital and others
Web3 sports betting platform Shuffle has announced the completion of a new round of funding of $2.5 million. Angel investors including Karatage, Cypher Capital, Sunforge (Robbie and James Ferguson), ODA Capital, Web3 Wizards, UpsideDAO, Parc Capital, Baboon VC, Andrew Kang of Mechanism Capital, and Tristan Yver of Backpack participated. Last week, Shuffle announced key details of the distribution plan for its ERC-20 token SHFL, with a total supply of 1 billion and an initial supply of 71,126,984.56 SHFL. Token generation and airdrop activities are expected to take place in the first week of March.
Leading the transition from EOAs to Smart Accounts Welcome to The Safe Case, a new series where we lay out Safe’s position in the web3 ecosystem, and make the case for the future outlook of Safe Smart Accounts as the bedrock of onchain ownership.
Japan plans to allow certain venture capital institutions to directly invest in cryptocurrency and Web3 startups
The Japanese Ministry of Economy, Trade and Industry announced that the Japanese Cabinet has approved a proposal to add cryptocurrencies to the list of assets that local investment limited partnership companies can obtain or hold. According to a revised bill released by the ministry last Friday, "the revision of the Industrial Competitiveness Enhancement Act will expand support for strategic investments in small and startup companies." According to local news media Coinpost's report on Saturday, this revision will allow venture capital firms to invest in projects that only issue cryptocurrencies. The ministry stated in a statement that after the Cabinet's approval, the bill has been submitted to the legislative body and will be deliberated. It is reported that Japanese limited partnership companies are usually used to invest in unlisted companies, which has become a common measure for venture capital firms to invest in startups. <br>
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According to analytics firm Santiment, the Internet Computer (ICP) has surpassed all other cryptocurrency projects in terms of recent development activity, registering 466.9 GitHub commits in the past 30 days. Santiment uses an "advanced methodology" to collect data for "true" GitHub commits only, excluding routine updates. Internet Computer aims to add a serverless cloud functionality to the public internet, and its native asset, ICP, is currently trading at $13.45. Santiment has previously stated that heavy development activity is a positive indication of a project's potential success.