The largest information within the cryptoverse for Feb. 21 noticed Polygon announce a mass layoff. In the meantime, the wi-fi hotspot mission Helium set a date for its migration to Solana. Plus, information on Web3 gaming, a British NFT charity mission, and Friendsies NFTs .
CryptoSlate Prime Tales
Polygon sacks 20% of workers, says it stays financially wholesome
Ethereum (ETH) layer 2 protocol Polygon (MATIC) revealed it has laid off about 20% of its workers, in accordance with a Feb. 21 assertion.
Polygon added that the job minimize affected about 100 positions within the agency. The affected staff would obtain three months of severance pay no matter their positions.
“Earlier this 12 months, we consolidated a number of enterprise items beneath Polygon Labs. As a part of this course of, we’re sharing the troublesome information that we’ve decreased our group by 20% impacting a number of groups and about 100 positions.”
Polygon mentioned it stays financially wholesome, stating that it has a stability of over $250 million and holds 1.9 billion MATIC tokens — price roughly $2.7 billion in accordance with present worth.
Helium proclaims migration date to Solana, 1M hotspots worldwide
Solana (SOL) skilled a surge in worth following an announcement that Helium (HNT) can be migrating in the direction of the platform starting Mar. 27.
In a weblog submit from Feb., Helium introduced the transfer.
“The Community migration to the Solana blockchain and deployment of Oracles represents essentially the most vital improve to Helium Community scalability and reliability.”
Helium’s decentralized community of hotspots totals nearly a million as of Feb. 2023.
Information of the migration date despatched the worth of each tokens up final week. Following the information, Solana’s worth has seen an over 21% surge — to a excessive of $27.11 on Feb. 17, from $22.34 on Feb. 16.
Web3 gaming sees sturdy begin to 2023 with on-chain surge
A brand new report launched by DappRadar has outlined that the web3 gaming trade has had a powerful begin in 2023, with $156 million raised throughout ten investments in January.
Among the many notable developments, TreasureDAO emerged as a platform for constructing metaverse tasks, Sq. Enix launched its first NFT recreation, and Courtside Ventures invested $100 million for its third enterprise capital fund targeted on sports activities, collectibles, wellness, and gaming. The entire worth of investments in web3 video games and metaverse tasks totaled $156M.
The crypto gaming sector has additionally seen an increase in on-chain exercise, with day by day energetic pockets (dUAW) rising by 1.31% to 858,621 and making up 48% of dApp exercise in January. On common, the market cap for high gaming tokens has risen by 122%, with GALA main the cost at 218%.
British MP Matt Hancock launches NFT charity mission for Ukraine
British MP Matt Hancock is continuous his mission to assist blockchain know-how by way of a brand new NFT assortment referred to as “From Ukrain with Love,” in accordance with a press release given to CryptoSlate.
The NFT assortment contains works painted by Ukranian artist Oleg Mischenko earlier than the warfare and will likely be offered at The NFT Gallery in London’s Mayfair on Monday, twenty seventh February. Funds from gross sales will go towards CARE Worldwide UK’s Ukraine Humanitarian Attraction. The gathering, “From Ukraine with Love,” was curated by Irina Korobkina, who fled Kyiv together with her 5-year-old daughter following Russia’s invasion of Ukraine.
Friendsies NFT assortment rug pulls, deactivates Twitter
Fashionable NFT assortment Friendsies tweeted Feb. 15 that it might pause its growth, citing “difficult” market circumstances as the first purpose for its hiatus.
“We had the perfect intentions to create a real digital companion for the long run,” the corporate tweeted. “Nonetheless, the market’s volatility and difficulties have made it more and more difficult to advance this mission in a fashion that meets our requirements.”
Former Binance govt goals to boost $100M to start out crypto adoption targeted VC
Invoice Qian, the previous head of enterprise capital investments and acquisitions at Binance Holdings Ltd., says he goals to boost over $100 million by way of a brand new crypto enterprise capital fund.
Qian informed Bloomberg he sees a necessity for vital person development as one of many crypto trade’s most important challenges, a key consider founding Cypher Capital.
Because the chairman of Dubai-based Cypher Capital since leaving Binance in June, Qian informed Bloomberg that he plans to again startups targeted on web3 and the decentralized web powered by blockchain know-how.
Digital asset investments recorded over $30M outflows in every week
Digital-asset-based funding merchandise recorded $32 million of outflows between Feb. 13 and Feb. 19, in accordance with a current CoinShares report.
Bitcoin (BTC) funding merchandise noticed $24.8 million in outflows in the identical timeframe, in accordance with the CoinShares report, which accounts for 77.5% of the whole quantity. Then again, Brief-Bitcoin funding merchandise recorded $3.7 million in inflows.
Ethereum (ETH) and Polygon (MATIC) primarily based funding merchandise additionally noticed $7.2 million and $800,000 of outflows, respectively. Binance and Ripple (XRP) investments, however, recorded $300,000 inflows every.
Crypto Market
Within the final 24 hours, Bitcoin (BTC) fell 1.2% to commerce $24,494.65, whereas Ethereum (ETH) was down 1.96% at $1,669.88.
Largest Gainers (24h)
- Ankr (ANKR): 35.8%
- Conflux Community (CFX): 15.46%
- UMA (UMA): 15.45%
Largest Losers (24h)
- IOStoken (IOST): -14.62%
- FLOKI (FLOKI): -12.99%
- Maintain Community (KEEP): -11.11%
