NFT, Web3 and cryptocurrencies: Lots of new projects on the horizon!

We are certainly seeing losses in the cryptocurrency and NFT market, but new projects continue to emerge in these sectors. Companies like SKNUPS and TGV4 Plus have recently raised funds to finance new Web3 projects. At the same time, celebrities such as Dorsey and Jay-Z are investing in initiatives to grow the cryptocurrency industry.

Web3 projects find funding despite bear market

The SKNUPS company has managed to raise $3.5 million to set up a Web3 project focusing on collectibles from blockchain games. It must be said that the company offers a platform focused on NFTs of streetwear and beauty brands in the metaverse world. Announcing its fundraiser, SKNUPS revealed a partnership with Italian fashion house Dolce & Gabbana.

Similarly, venture capital firm True Global Ventures 4 Plus (TGV4 Plus) has raised more than $60 million in funds to finance TGV’s portfolio Web3 companies and some advanced-stage Web3 projects. At the same time, cryptocurrency exchange Huobi Global launched a new investment branch called Ivy Blocks. The goal of this branch is to deploy more than $1 billion worth of cryptoassets for projects in the Web3 and DeFi sector.

In addition, Jack Dorsey’s Block (Square) company plans to switch directly from Web3 to Web5. According to her, Web5 would be the new vision of a decentralized Internet. Note that the Web5 is built solely on the Bitcoin blockchain and it is developed by the TBD branch of Block. She said that today’s web has a big problem: users “are assigned accounts by companies and their data is held captive in application silos“.

A plethora of cryptocurrency and NFT projects

Celebrities Dorsey and Jay-Z had invested $24 million last year to launch a project to help the development of bitcoin (BTC) in Africa and India. The duo returns this year with another project announced last week. It’s about launch of Bitcoin Academy which aims to teach crypto to residents of Marcy Houses, a public housing complex in Brooklyn. In their project, Dorsey and Jay-Z have planned a summer camp during which participants will receive a symbolic amount of bitcoins (BTC).

Moreover, the identity of the team responsible for Goblin Town, one of the most recent NFT projects, is now known. This is the group Truth Labs which is in charge of two other projects, namely: IlluminatiNFT and The 187. After the team behind Goblin Town revealed their identity last Tuesday through a video of almost four minutes on Twitter , The Illuminatinft collection has reached a maximum price of 0.67 Ether (ETH).

In their video, the founders said the project has no roadmap, no Discord server, and no utilities. They clarified that Goblin Town acts more like a form of group therapy and comic relief.

Despite the bear market and the criticisms, cryptocurrencies, NFTs and Web3 are booming with more and more new projects. Companies specializing in these sectors and celebrities holding cryptos are investing more capital to get things done.

Source : Blockworks

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NFT, Web3 and cryptocurrencies: Lots of new projects on the horizon!

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