Web3 Gaming and NFT Market Report 2022
The 2022 crypto market has endured a harsh correction amidst the wider global downturn in traditional equities and other assets. Rising interest rates intended to curb inflation have led investors to decrease their exposure to risk-on assets, including cryptocurrencies. Venture capital funding in those sectors has also cooled off, to some extent, except for Web3 gaming, which is proving to be a major contributor to the expansion of blockchain and cryptocurrencies around the world. There is plent
Polygon: A Game Changer for Web3 Gaming and NFTs
When it comes to choosing a scaling solution for Ethereum, Polygon is among the top choices for builders and investors. Polygon, previously known as Matic Network, is a layer 2 blockchain built on Ethereum that aims to serve as Ethereum's Internet of Blockchains (like Cosmos and Polkadot), providing child chains for transactions to reduce the load on the Ethereum parent chain. The rebrand shifted Polygon's focus to exclusively serve as a scaling solution for Ethereum.
Blur: Efficiency in the NFT Market
Blur is a NFT marketplace aggregator that has quickly become a leading player in the space, consistently dethroning OpenSea in volume. The team behind Blur consists of talent from organizations such as MIT and Citadel, and the platform is backed by crypto venture firm Paradigm. Blur’s seed round raised a total of $11 million with participation from notable figures in the NFT and crypto space such as Punk 6529, Cozomo de’ Medici, and Zeneca.