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Welcome to TechCrunch Crypto, previously generally known as Chain Response.
To get a roundup of TechCrunch’s greatest and most necessary crypto tales delivered to your inbox each Thursday at 12 p.m. PT, subscribe here.
Hi there and welcome again to the fourth version of the brand new and improved TechCrunch Crypto publication. You most likely know the deal already, however alongside our often scheduled information bits, I’ve added some recurring segments and options — so for those who like what you see (or don’t), let me know at jacquelyn@techcrunch.com.
Anyhow, let’s get into the large headlines beneath.
This week in web3
- Decentralized social network Farcaster is trying to reach mass adoption through Web 2.0 techniques
- Perhaps this is why the bitcoin spot ETFs are yet to send crypto prices to the moon
- SEC’s Hester Peirce still plans to push for a token ‘safe harbor’ plan
- a16z’s Chris Dixon thinks it’s time to focus on blockchains’ use cases, not speculation
- Bluesky is now open for anyone to join
Crunching numbers
This week the crypto market was comparatively up as the 2 greatest cryptocurrencies by market capitalization, bitcoin and ether, rose 5.7 and 6%, respectively, on the week, based on CoinMarketCap data. The worldwide crypto market cap elevated 5.5% over a seven-day interval to $1.72 trillion.
Of the highest 10 tokens by market cap, Solana elevated probably the most on the week at 7.7% on the time of writing.
Our favourite ‘Crypto Twitter’ publish
That awkward second when your crypto buddies and normie buddies see “zero data” as two totally different meanings. However in case you don’t know…see the definition here.
Picture Credit: X (opens in a new window)
The most recent pod
This yr, Chain Response is doing month-to-month sequence diving into totally different matters and themes in crypto. To begin issues off, this month we’re specializing in NFTs.
For this week’s episode, I interviewed Devin Finzer, the CEO of NFT market OpenSea. That is additionally our first full video recording and it’s on TechCrunch’s YouTube channel; check it out here.
He co-founded OpenSea in 2017 and it rapidly climbed to grow to be some of the well-known — and properly funded — NFT marketplaces. Two years in the past, it raised $300 million in a Sequence C spherical at a $13.3 billion post-money valuation, bringing its complete capital raised to over $400 million. A few of its traders embody corporations Andreessen Horowitz and Paradigm, in addition to celebrities like Kevin Durant and Ashton Kutcher.
Regardless of the NFT market’s buying and selling quantity falling from all-time highs in late 2021 to early 2022, OpenSea continues to be pushing ahead, although different NFT marketplaces have popped up and challenged their dominance.
Devin and I talk about the significance of web3 video games integrating NFTs, Net 2.0 corporations launching their very own digital collectibles and challenges {the marketplace} faces.
We additionally dive into:
- Huge use circumstances for NFTs
- The corporate’s future mission
- Retaining neighborhood members
- Gaining market share and buying and selling quantity
However wait there’s extra…
This week we even have a bonus episode with Hester Peirce, commissioner of the U.S. Securities and Change Fee.
I moderated a fireplace chat with Commissioner Peirce at Georgetown College’s McDonough Faculty of Enterprise alongside Eddie Cullen, a former candidate for New York Metropolis Mayor in 2021 and co-founder and CEO of Crescite Innovation Company.
We mentioned plenty of well timed matters, together with the SEC’s spot bitcoin ETF approval, coverage making to maintain crypto innovation alive within the U.S. and the commissioner’s Token Secure Harbor Proposal 2.0 and whether or not Peirce is contemplating a brand new one.
Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please go away us a overview for those who like what you hear!
Observe the cash
- Superform Labs raised $6.5 million to assist others distribute, handle and entry yield
- MediConCen raised $6.85 million to automate insurance coverage claims with AI and blockchain tech
- Immoblocks raised $5.67 million for its blockchain-based actual property funding platform
- Filecoin-centric staking protocol GLIF raised $4.5 million in a seed spherical led by Multicoin
- Tether led a $25 million Sequence A spherical for cellular fee app Oobit
This record was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Need to department out from the world of web3? Listed here are some articles on TechCrunch that caught our consideration this week.
- Why Latin American SaaS startups are different from their US peers
- Actually, it’s good for Spotify that Joe Rogan’s podcast is no longer exclusive
- Apple Vision Pro review: The infinite desktop
- Adam Neumann is trying to buy back WeWork
- Mamoon Hamid and Ilya Fushman of Kleiner Perkins: ‘More than 80%’ of pitches now involve AI
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