welcome home Chain reaction.
Last week we talked about the NFT community getting worse, but still attending the party. This week we’re looking at the despair of web3 startups in the post-Apple tech industry.
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Crypt wants its own iPhone
Few consumer companies have a better reputation among users than Apple, and few “web2” companies are more despised by crypto startups than Apple.
We talked a bit about Apple’s reputation in crypto space. The App Store rules are pretty hostile to cryptocurrencies and NFT startups, but Apple justifies monopoly by spending money on reducing in-app transactions and protecting users from fraud and malware. It’s not the easiest move for you to understand. Now, no one can argue that it’s easy to avoid fraud in crypto space these days, but Apple’s life under the mobile empire is overwhelmingly desktop-first in the mobile world. Still frustrating for legitimate crypto apps that have to be content with.
As a result, it’s not too shocking that the crypto world is interested in building the world without Apple. Tasks that don’t sound so simple …
Solana Labs, the creator of the Solana blockchain, said that token prices have risen dramatically and dropped quite dramatically in recent months this week. publication Unique blockchain smartphone. If you’ve read TechCrunch for years, this should be a little frowned upon. It is almost impossible to build a smartphone business as a startup. Many have tried and few have achieved near success.
The Solana phone, called Saga, runs on Android and has its own blockchain-centric features such as a built-in hardware wallet. This basically gives users a more secure pass for holding and trading cryptocurrencies or NFTs on their smartphones. I think there is an audience for this phone in the world of cryptocurrencies, because of the ideal launch timing for niche devices that are likely to make the niche of the audience next year when the phone actually launches even tighter. Is far from it.
Web3 has received a surprising amount of support from the Web2 giants, but the warm welcome from companies that own mobile hardware has been significantly reduced. For now, Apple’s mobile shackles are almost hopelessly escaping for web3 developers, as Apple users are unlikely to get up and demand more access to NFT purchases for mobile apps. It’s a frustration to have a mission.
This week my co-host Anita was on vacation, so my colleague Jacquie joined us and jumped into what happened on web3 that week. We dig deeper into Solana Saga’s phone topic, discussing FTX’s alleged interest in acquiring Robin Hood, and some of the crypto finance companies that are currently in serious trouble.
For this week’s guest, we talked to Julian Holguin, CEO of Doodles. Doodles is a very popular NFT project with total sales of over $ 500 million. Holguin, formerly a Billboard executive, has taken on the task of expanding the Doodles brand into an intellectual property powerhouse. The company has deposited the first round of venture funding from Alexis Ohanian in a bank and is preparing to launch some big new NFTs to continue the party in the crypto recession.
Follow the money
Where startup money is moving in the crypto world:
- Entrepreneur first Raise $ 158 million from Brother Collison to build a startup school with web3 programming
- No-code crypto game platform Soba Lightspeed takes the lead in raising $ 13.5 million
- Move to Earn Fitness Startups Fitmint Earn $ 1.6 million from General Catalyst
- Web3 games Stella fantasy Earn $ 5 Million from Animoca Brands
- NFT for kids platform Cryptography Earn $ 23 million from a16z
- NFT curation app EyesFi Raise $ 2 Million from Multicoin Capital
- Blockchain startup Linera Get $ 6 million from a16z
- Financial security startup PolySign Earn $ 53 Million from Cohen Digital and Others
- Wallet login startup dynamic Earn $ 7.5 million from a16z
- NFT for a good startup R Lab Get $ 5 million from Softbank
TC + analysis
Here are some of this week’s cryptanalysis that you can read on the subscription service TC + (created by TC Jacquelyn Melinek):
This cryptocurrency winter may be long, but builders remain bullish
The top digital assets in the crypto market are still declining significantly year by year, but some market participants are shrugging and focusing on long games. Evin McMullen, CEO of Disco.xyz with a focus on the Metaverse, said the crypto world is committed to building a human experience beyond throwing money at each other. “We are no longer looking at green candles to get us hooked. We have the opportunity to explore what other kinds of fun we have,” McMullen said. “What other types of collaborative games can we solve together, based not only on token prices but also on human activity?”
A blockchain game where gamers are “seeking entertainment” so they aren’t fooled by cryptographic variability
The web3 gaming industry is one of the few sectors that does not appear to be affected by the current crypto market conditions, and capital continues to accumulate in this sector. Some industry players say that’s a good reason. Robby Yung, CEO of Animoca Brands, said the number of active web3 game users “has nothing to do with the market.”
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