web3
As labor struggle takes center stage, can DAOs democratize work?
Web3 has given rise to a number of innovative business models. In particular, decentralized autonomous organizations (DAOs) have started gaining traction as Web3 as the creator economy comes to fruition. Natalie Salemink, CEO and founder of Prismatic — a tooling and treasury management platform for DAOs — told Cointelegraph that DAOs are internet-native organizations that utilize smart contracts to facilitate coordination and governance in pursuit of a common goal. When it comes to traditional businesses, though, one of the most interesting aspects a DAO structure can provide is leadership based on computer-generated code rather than individual authority. The idea of operating a business without any central governance has become especially intriguing to brick and mortar compani...
Linkin Park’s Mike Shinoda Named Web3 Advisor for Warner Recorded Music
Linkin Park co-founder Mike Shinoda has been tapped by Warner Recorded Music (WRM) to help shape the company’s “artist-centric approach” to Web3, it was announced Wednesday (April 20). As WRM’s community innovation advisor, Shinoda will support the company in partnering with artists to “bring their creative visions to life and build communities across new platforms, products, and experiences, while exploring new revenue streams,” according to a press release. Long interested in the crossover between music and tech, Shinoda has recently been a music industry innovator in the NFT space. In February 2021, he released his single “Happy Endings” feat. iann dior and UPSAHL as an NFT via the Zora NFT marketplace, which was billed as the first such project by a major-label artist. He followed that...
3LAU Wipes Out Artist’s Student Loan Debt With Cryptocurrency
Distressed by accumulating student loan debt, music producer and visual creative director Bdice reached out to 3LAU for feedback on an idea. What happened next changed the trajectory of his life forever. A multi-faceted creative, Bdice understood well the need to retain ownership of his work. He had been well versed in the possibilities of Web3 and was actively exploring opportunities to monetize his work. Unfortunately, Bdice tells EDM.com, he had found himself in dire straits from a financial standpoint. He’d gone through Audio Engineering & Music Production school, but the aftermath left him six figures in debt. Despite monthly payments, the interest continued to eat away his progress. He had spent $100,000 over 10 years in interest payments alone. Nonetheless, Bdice was...
Framework Ventures allocates half of $400M fund to Web3 gaming
Crypto-focused venture firm Framework Ventures has raised $400 million in new funding to invest in early-stage companies across the Web3, blockchain gaming and decentralized finance (DeFi) industries. The completed raise will go towards “FVIII,” an oversubscribed fund worth $400 million, the company announced Tuesday. Approximately $200 million of that total will be allocated to the emerging blockchain gaming industry. The venture firm, which had early exposure to DeFi, now has over $1.4 billion in assets under management. Framework Ventures was an early investor in projects such as Chainlink, Aave and The Graph. Like DeFi in 2020, gaming and Web3 have been identified as the next major growth plays for the blockchain industry. Axie Infinity — a popular play-to-earn game constructed a...
Crypto exchange CoinDCX raises $135M funding to support Indian Web3
Crypto exchange CoinDCX became India’s first crypto business to complete a Series D funding round, raising $135 million in support of various Web3 and crypto initiatives in the country. The latest funding round resulted in CoinDCX doubling its valuation to $2.15 billion, which was led by Pantera and Steadview and saw participation from prominent investors including Kingsway, DraperDragon and Republic. Existing investors such as B Capital Group — a venture capitalist firm from Facebook co-founder Eduardo Saverin — Coinbase, Polychain and Cadenza also joined in on the oversubscribed funding round to increase their investments in the crypto exchange. Excited to share that CoinDCX has raised over USD 135 million, in our latest Series D funding round. Another step closer to our dream of m...
KuCoin-backed companies launch $100M Web3 developer fund
Crypto exchange KuCoin’s venture capital arm and nonfungible token (NFT) marketplace have launched a $100 million “Creators Fund” to help bootstrap early-stage NFT projects at the intersection of art, sports and GameFi. KuCoin Ventures and the Windvane NFT marketplace have created the fund to help artists and creators showcase their work and scale their business to wider audiences, the companies announced Tuesday. The fund’s mandate is to support promising NFT projects that are contributing to the development of Web3, which refers to the next iteration of the internet powered by blockchain technology. Windvane is a new NFT marketplace from KuCoin that aims to tap into the crypto exchange’s large user base. At the time of writing, KuCoin was the fifth largest crypto exchange by volume, acco...
Here’s Why Snoop Dogg Says He Pulled Death Row’s Catalog From Streaming
Snoop Dogg’s first course of action after purchasing the Death Row Records brand and catalog in February was seemingly pulling the whole catalog off streaming services — now he’s explained why. In a new interview with REVOLT’s Drink Champs on Friday, Snoop said he removed Death Row’s music — including his 1993 debut Doggystyle and Dr. Dre’s seminal The Chronic — from traditional streaming services “because those platforms don’t pay.” Instead, the rapper claimed he’s planning to launch a standalone “Death Row app” that will host the label’s music. Explore See latest videos, charts and news See latest videos, charts and news “Those platforms get millions and millions and millions of streams and nobody gets paid other than the record labels,” said Snoop. “So what I wanted to do is snatch...
Regulations set the table for more talent, capital and building in crypto industry
The feeling in the crypto and decentralized finance space has been shifting and evolving. The industry is also becoming more scrutinized and, inevitably, more organized. Some weeks ago, United States President Joe Biden signed an Executive Order to expedite and focus regulatory oversight of the $3-trillion industry. The order will spur the government to examine the risks and benefits of cryptocurrencies, with a particular focus on consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation. While the results of this order have yet to unfold, this moment helps to set the table for more clarity, predictability, security and stability for decentralized finance (DeFi). Like with any industry, clarity on how DeFi and cry...
Elon Musk endeavors to buy Twitter but will reconsider position if rejected
In a letter sent to the chairman of Twitter’s board Bret Taylor on Thursday, entrepreneur Elon Musk, best known for founding and heading Tesla and SpaceX, has offered to purchase the entire Twitter company for $54.20 a share, stating that the social media platform has “extraordinary potential” that he will “unlock.” Published by the U.S. Securities and Exchange Commission in a 13D filing, Musk stated that “Since making my investment, I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.” Following this, Musk categorically states that this offer is his “best and final”, and if not accepted, he “would need to reconsider his [my] position as a shareholder.” I made an offer https://t.co/VvreuP...
Dirtybird Launches Metaverse Nightclub, Birdhain
Dance music tastemaker Dirtybird is opening the doors to its very own Web3 nightclub, Birdhain, in its own metaverse, Birdyverse. A nod to the famous Berlin nightclub Berghain, it’s 24-7-365 virtual nightclub with DJ sets running every day and night, all year-round. Dirtybird cofounder Claude VonStroke will launch the venue today, April 13th, and will feature DJ sets from the Dirtybird roster, including Nikki Nair, Justin Jay, Mz Worthy and Catz ‘n Dogz, among others. The Birdyverse at large is open to anyone with a cryptocurrency wallet, like MetaMask, but you must hold a Dirtybird Flight Club NFT to enter Birdhain. Once connected, users will be able to roam, chat, explore and interact with the mysterious island, which is shaped like a cracked egg. Dirtybird cofounder Claude V...
Dozens of VIP backers invest $87M into crypto payment startup MoonPay
In November 2021, MoonPay announced a $555 million Series A financing round that brought the crypto payment platform’s valuation to $3.4 billion. On Wednesday, the fintech company revealed that $87 million of the total $555 million came collectively from more than 60 public figures and celebrities in the music, sports, media and entertainment industries. While the Series A round was led by firms like Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following household names are also considered strategic investors: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Willis. Other “industry VIPs” like Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve A...
Virtual Avatar Company Genies Raises $150M at $1B Valuation
Genies, a Los Angeles-based avatar startup with close ties to the music industry, raised $150 million in Series C funding led by Silver Lake and existing investors Bond, NEA and Tamarack Global, the company announced today. The deal values Genies at over $1 billion. The six-year-old company has partnerships with Universal Music Group and Warner Music Group as their official avatar and digital goods NFT provider, and has partnered with artists including Cardi B, Justin Bieber, Rihanna, Shawn Mendes, J Balvin and Migos. Genies creates virtual identities for artists to use across the metaverse and releases digital wearables – such as a J Balvin space suit and a Mendes digital hoodie — for fans to collect and wear in the metaverse. Last year, Genies widened its ambition by launching a marketpl...
