Week 28: Check out what happened in the Tech world

Week 28: Check out what happened in the Tech world

The crypto market is finally turning green, the global crypto market cap is $935.85B, a 5.71% increase over the last day. Both Bitcoin and Ether have seen gain this week. Bitcoin’s price is currently above $20,000. ZKX receives a seed round of $4.5m. Coinbase’s stock price has gone down by 80% and is laying off 20% of its staff. NFT leading marketplace OpenSea is laying off its 20% employees and TM, the second-largest cryptocurrency exchange in Latin America said it would lay off 12 per cent of its 750 workers.

Crypto market this week

The global crypto market cap is $935.85B, a 5.71% increase over the last day, as per the CoinMarketCap. The total crypto market volume over the last 24 hours is $84.03B, which makes a 11.14% increase. The total volume in DeFi is currently $6.99B, 8.32% of the total crypto market 24-hour volume. The volume of all stablecoins is now $67.02B, which is 79.76% of the total crypto market’s 24-hour volume.

Both Bitcoin and Ether have seen gain this week. Bitcoin’s price is currently above $20,000.

Though the prices of cryptocurrencies have shown improvement, negative news has been pouring in from all parts of the world. Last week Three Arrows Capital (3AC), Vauld, Terraform Labs, Voyager Digital, and Celsius Network were in the spotlight. There are bigger names this week creating panic in the market. The first and the foremost one is Coinbase whose stock price has gone down by 80%. Media reports that it is laying off 20% of its staff.

Another leader in the Web 3.0 space, NFT leading marketplace OpenSea has been reported of laying off its 20% employees. The CEO of this company shared a note on Twitter i.e. “today is a hard day for OpenSea, as we are letting go of 20 per cent of our team”.

2TM, the second-largest cryptocurrency exchange in Latin America in a statement said it would lay off 12 per cent of its 750 workers.

2022 Disney Accelerator includes Polygon, Lockerverse, and more Web 3.0 players

The Walt Disney Company announced the six companies that will be joining the 2022 Disney Accelerator. This class will focus on building the future of immersive experiences and specializes in technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters.

As per the announcement, the companies selected for the 2022 Disney Accelerator program are:

  • Flickplay: Flickplay is a Web3 social app that enables users to discover NFTs tied to real-world locations that they can experience and share via AR.
  • Inworld: Inworld allows users to create interactive, AI-driven characters for immersive experiences.
  • Lockerverse: Lockerverse is a Web3 platform that empowers creators and brands to tell culture-defining stories and deliver unique access and experiences.
  • Obsess: Obsess is an experiential e-commerce platform that enables brands to create immersive 3D virtual stores on their websites and on metaverse platforms.
  • Polygon: Polygon is a scalable blockchain network that allows developers and enterprises to build Web3 experiences.
  • Red 6: Red 6 is an AR company that has created a patented headset and interface that works outdoors in dynamic, high-performance environments.

ZKX receives a seed round of $4.5m

The first permissionless derivatives trading protocol built on StarkNet, StarkWare’s L2 network that leverages ZK rollups, raised $4.5m with participation from investors including StarkWare, Alameda Research, Amber Group, Huobi, Crypto.com, Hashkey Capital, Orange DAO, Angel DAO, Dweb3, Caballeros Capital, Cluster Capital, and Gate.io.

Uri Koldony, Co-Founder and CEO of StarkWare, shared his views on ZKX:

“Our ongoing collaboration with ZKX has been a successful one, and we have developed a fruitful relationship. They have been pioneers of the StarkNet ecosystem, building, educating, and providing invaluable feedback to developers everywhere.”

With its decentralised exchange, ZKX wants to build a platform which charges minimal transaction fees from users. In addition, it is trying to bring a user experience that will be more accessible through mobile. For example, ZKX is planning to allow logins on the exchange through Facebook or Gmail app as it wants to open up new ways to onboard users.

Farcaster – a new decentralized social media platform

Farcaster defines itself as a sufficiently decentralized social network. Founded by a former Coinbase executive, the social media platform will be backed by blockchain technology. Varun Srinivasan, a former Director at Coinbase and Founder of SoundFocus believes centralized social networks closely control their users’ ability to reach their audience. A decentralized social networking protocol could change this dynamic by ensuring open access to the network. Companies can still make money by offering services, as Gmail does with email and Github does with Git. But decentralizing access ensures that they can’t be monopolistic and ignore users. It creates a market-based approach where the best ideas can compete on equal footing.

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