Web 3 dominates VC interest in the blockchain industry in Q2 2022. This year is shaping up to be a record year for blockchain-related venture funding. Cointelegraph reported, that blockchain and crypto-focused firms raised $14.8 billion in the first quarter of the year, nearly half of 2021’s totals.
Although activity has waned due to the bear market, startups with a focus on Web3 and the Metaverse continue to attract significant capital.
Layer-1 blockchain developer Aptos Labs has closed a $150 million funding round to further its ambitions in the Web3 space, further highlighting VCs’ interest in crypto-focused startups.
According to Bloomberg LP, the funding round more than doubled the startup’s valuation, which was over $1 billion as of March.
Although the so-called “crypto-winter” is upon us, venture capital continues to make strategic investments across the blockchain and crypto industries.
The emirate of Dubai, launches the Dubai Metaverse Strategy that aims to turn it into one of the world’s top 10 metaverse economies. The strategy promotes Dubai’s ambitions to support more than 40,000 virtual jobs by 2030.
They hope to transform the emirate into a global tech capital, focusing primarily on AI and Web3. The Dubai Metaverse Strategy goes in line with the objectives of the United Arab Emirates AI Strategy to enhance the nation’s status as one of the world’s leading countries in futuristic sectors by investing in new technologies.
Shanghai officially intends to boost the development of innovations such as blockchain, NFTs, the Metaverse and Web3 during its next five-year plan.
The plan suggests supporting the enterprises that plan to construct the NFT trading platforms and research and promote the digitisation of NFT and other assets. A separate section is dedicated to blockchain, with a voiced commitment to promote the development and application of “blockchain+” technology and build a blockchain development ecosystem with strong innovation capabilities and independent control.
There is also a place for the Metaverse, as the municipal government plans to accelerate the research and deployment of the platform for the interaction between the virtual and real world by carrying out the development of core technologies and encouraging the creation of new platforms with richer and more diverse content scenarios.
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July has been jammed-packed with events! I have attended the Venture & Capital Summit 2022, KPMG Tech Innovator Awards Final, Web3 Happy Hour by Collective Shift, Climate Tech Pitch Night by Climate Salad, Sydney Atlassian User Group Meet up and The 2022 Sydney Web3 Summit Inaugural event. It was lovely to meet like-minded people and learn more about all things tech.
Lastly, I would like to show my appreciation to Founder Institute for the nomination for the Global Startup Mentor Award for Australia & New Zealand!