Blockchain Gaming Consortium, American Express & Crypto Trademarks + More News

Sead Fadilpašić

Last updated: June 26, 2023 06:54 EDT | 4 min read

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

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Gaming news

• Blockchain companies Galaxy Interactive, Republic Crypto, and Alameda Research are launching a consortium called NG+ that will invest in blockchain-focused gaming studios and developers, per Bloomberg. The consortium will seek to fund experienced, traditional video-game developers and studios, and help them with token economics and liquidity as they create blockchain-based titles.
• Formula 1 blockchain game Delta Time announced it will cease functioning on March 16, 2022, due to being unable to renew its license. The team added that current owners of F1 Delta Time assets will be “rewarded for their loyalty and support.”

Adoption news

• Payments provider American Express filed seven trademark applications for its logos and related terms, indicating possible plans to offer NFTs, crypto services, and virtual banking and exchange services, per US trademark attorney Mike Kondoudis. The trademarks were filed on March 9.

Security news

• An attacker siphoned over USD 11m from decentralized finance (DeFi) protocols Agave and Hundred Finance in an attack on the Gnosis chain, Agave confirmed. The two platforms stated that their contracts have been paused to forestall further damage.

DeFi news

• The Aave Companies today announced the launch of V3 of the Aave liquidity protocol, which brings new features including increased capital efficiency, security, and enhanced decentralization alongside a new, compatible user interface. Users will be able to access Aave V3 via new wallet integrations and access points on Instadapp, Debank, 1Inch, ParaSwap, Zapper, DeFisaver, Zerion, and more, they said.

Exchanges news

• Crypto.com announced the initial phase of its institutional Exchange platform launch in the US, which is now available to waitlisted users, with a progressive rollout over the coming months. VIP users of the Crypto.com Exchange will have access to exclusive events, rewards, and market insights, they added.
• FTX is partnering with African fintech company AZA Finance to expand the adoption of Web3 and digital currencies throughout Africa. The two will build vital Web3 infrastructure, create ways for African users to learn and participate in the Web3 economy, and launch African currency and digital currency trading pairs, among other things, they added.

NFTs news

• LINE NEXT Inc., LINE’s venture dedicated to developing and expanding the global NFT ecosystem, announced that it is forming 26 partnerships with a range of companies to create NFTs based on their popular intellectual property (IP) content and enable consumers to buy and sell NFTs using familiar payment products. Partners will include companies such as SoftBank, Naver, Hashed, Visa, Crypto.com, Lotte, Mythical Games, among others.

Investments news

• Crypto platform Luno announced the launch of a new early-stage investment business called Luno Expeditions. They say that they will be investing in early-stage rounds across the world, into the crypto/Web3 companies, but also fintech companies that they find are helping move the crypto industry forward.
• Computing solutions provider Canaan announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to USD 100m worth of its outstanding shares. They explain that the reasons for this are recent “international frictions,” the domestic quarantine measures for COVID-19 control, and macro factors across the capital market that have adversely impacted their stock performance.
• Digital asset custodian Hex Trust raised USD 88m in a Series B funding round co-led by Animoca Brands and Liberty City Ventures. The new funding will be used to scale to Europe and the Middle East, obtain additional licenses, and further enhance new business services.
• Open 5G company FreedomFi announced a USD 9.5m Series A funding round from Blueyard Capital, Qualcomm Ventures, and SamsungNext. The company aims to use the funds to accelerate the development of its software and forge new partnerships with telecom equipment manufacturers, operators, and other ecosystem players.
• Web3 company Treehouse raised USD 18m in a seed funding round led by an undisclosed large fintech investor. Treehouse added that it is building the infrastructure required to enable everyday people to fully harness financial products and services made possible by DeFi.
• Telecom-as-a-Service platform OXIO raised USD 40m in a Series B funding round led by ParaFi Capital. The funding will help to accelerate their growth in Mexico and launch their business in the US, they added.
• Silvermint, a proof-of-stake blockchain, today announced the completion of its USD 5m private seed round at a USD 50m valuation, led by Youbi Capital. Launched in 2021 by parent company, Pyrofex Corporation, Silvermint plans to release the testnet in Q2 of 2022 and mainnet in the following Q4.

Tax news

• Blockchain and Crypto Assets Council (BACC), which is part of the Internet and Mobile Association of India, and startup industry body IndiaTech have reached out to the Indian finance ministry, seeking to either reduce or eliminate the 1% tax deducted at source (TDS) proposed on the proceeds of all crypto transactions, the Economic Times reported. The crypto platforms that are members of the BACC have recommended that the proposed TDS be reduced to about 0.01%.

Regulation news

• Sarah Bloom Raskin has withdrawn from consideration to be a nominee for the US Federal Reserve Board of Governors, per the CNN. She explained that the US government did not share her views on the perils of climate change and its implications on the economic system.
   

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(Updated on March 22 at 09:25 UTC:  Silvermint plans to release the testnet in Q2 of 2022, not 2023.)