In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of Dec 04. Our focus will be on the following developments:
● The Treeverse Raised Additional Funding for Development
● Sound x Coinbase
● Coinbase Wallet Introduces Crypto Transfers via Shared Links
● Beam Partners with Immutable and Polygon
● Futureverse x Reebok
The Treeverse Raised Additional Funding for Development
The Treeverse is a browser-based metaverse, carving its niche as a social media platform with a unique focus on NFTs. Spearheaded by Loopify, a prominent NFT creator and collector, The Treeverse has garnered attention not only for its ambitious vision but also for attracting notable figures as investors in the Web3 space.
Loopify’s vision has not gone unnoticed, with a significant investment of $25 million from IdeoCo Labs, Animoca Brands, Skyvision Capital, and Stani Kulechove in a previous funding round. Building on this success, The Treeverse recently secured an additional $2.5 million in funding.
In the most recent funding round, The Treeverse drew support from prominent entities in the gaming and blockchain sectors. Investors such as Animoca Brands, the creators of Axie Infinity (Sky Mavis), and Yield Guild Games (YGG) have joined the ranks, emphasizing their confidence in the metaverse’s potential.
The $2.5 million injection of funds will play a crucial role in various facets of The Treeverse’s development. According to Luckytrader, the funds will be strategically allocated to accelerate development, expand the existing team, facilitate outsourcing, boost marketing efforts, and address other critical aspects of the project.
The diverse group of investors in the recent funding round underscores significant confidence in The Treeverse’s vision and strategic direction. With a substantial financial boost, the development of the game is expected to accelerate, offering a potential transformative era in the world of mobile gaming and blockchain integration.
Sound x Coinbase
In the dynamic intersection of music and crypto, Sound, a revolutionary marketplace founded in 2021, is making waves by reshaping the music industry’s landscape. With a focus on empowering artists, Sound provides a unique platform for the creation and sale of music NFTs. Recently, the platform has garnered significant attention through its strategic partnership with Coinbase, a move that signals a pivotal moment in the convergence of music and the blockchain.
At the heart of the collaboration is a groundbreaking music quest featuring five diverse and talented artists:
- Sara Phillips
- Annika Rose
- Xcelencia
- Beachcrimes
- TK
This collaborative endeavor aims to engage both existing and new communities by inviting participants to collect exclusive tracks using the Coinbase Wallet. The quest not only provides a novel experience for music enthusiasts but also introduces them to the world of music NFTs. As per Luckytrader, participants in the music quest are incentivized with $OP tokens through the Coinbase Wallet. These tokens serve as rewards for collectors who actively participate in the quest, adding a gamified element to the experience.
Furthermore, a notable aspect of this partnership is the commitment to supporting artists directly. A significant portion of mint fees generated through the sale of music NFTs will be allocated directly to the participating artists. This approach not only recognizes and values the creative contributions of musicians but also contributes to their financial independence, a critical aspect in an industry often fraught with challenges for artists.
Coinbase Wallet Introduces Crypto Transfers via Shared Links
In a significant stride towards enhancing user experience, Coinbase, a prominent player in the cryptocurrency space, has introduced a groundbreaking feature within its Web3 wallet. This latest update is poised to revolutionize the landscape of international money transfers, offering a seamless and cost-effective alternative to traditional methods.
The key objective behind this development is to simplify the often intricate process of sending money globally. Coinbase aims to make this as effortless as sending a text message while eliminating the customary complexities and costs associated with traditional transfer methods.
Coinbase wallet users can now generate a link within the wallet interface and conveniently share it through their preferred communication channels. The beauty of this approach is the elimination of the need to download multiple apps or navigate through the intricacies commonly associated with conventional transfer methods. With just a few taps, users can send funds globally through various platforms, including popular messaging apps such as WhatsApp, iMessage, Telegram, social media apps, email, and more.
Moreover, claiming the funds on the recipient’s end is equally straightforward. Upon receiving the shared link, the recipient simply clicks on it and follows the intuitive prompts to deposit the funds into their Coinbase Wallet. However, it is crucial to note that both the sender and the receiver must be Coinbase Wallet users for this process to seamlessly unfold. In cases where the recipient does not possess a Coinbase Wallet account, clicking on the payment claim link will redirect them to a download link for the Coinbase Wallet. Read more on this here.
Beam Partners with Immutable and Polygon
In a strategic move aimed at accelerating the growth of its ecosystem, Beam has joined forces with Immutable and Polygon, signaling a transformative era for Web3 gaming. This groundbreaking partnership, driven by a shared commitment to advancing multichain growth and blockchain gaming, signifies a pivotal moment for the Beam network.
A significant development in this collaboration is Beam’s migration to Immutable zkEVM, a scaling solution supported by the robust infrastructure of Polygon. This move represents a departure from Beam’s previous exclusivity with Avalanche, ushering in a new chapter filled with possibilities for enhanced scalability and efficiency within the Beam network.
As per the announcement by Beam, the partnership brings forth several key integrations that promise to elevate the user experience and functionality within the Beam ecosystem. This includes the integration of Sphere, Immutable zkEVM protocol’s Orderbook, Account Abstraction, and Companion App.
Furthermore, in a commitment to supporting innovation within the gaming industry, the Merit Circle DAO, as part of this partnership, has pledged to invest in games or studios building on Immutable. This financial backing aims to fuel creativity and exploration within the gaming space, establishing synergies between the two organizations.
Futureverse x Reebok
In a groundbreaking move, Reebok has joined forces with Futureverse, a cutting-edge crypto tech startup specializing in metaverse infrastructure. This exclusive collaboration aims to redefine the landscape of digital fashion, leveraging the power of AI and blockchain technologies.
At the forefront of this groundbreaking partnership is the much-anticipated “Reebok Impact,” a digital shoe experience poised to transform the way users interact with footwear in the virtual world. Set to make its debut in 2024, this mind and heart-bending digital shoe experience promises to showcase the fusion of AI technology and on-chain digital wearables. According to Decrypt, ‘Reebok Impact’ will provide users with an unprecedented level of virtual interaction with Reebok products, pushing the boundaries of what is possible in the metaverse.
Notably, Futureverse’s role in this partnership is pivotal, as it will lead Reebok’s foray into the extensive possibilities of the metaverse. From footwear to apparel, Futureverse aims to enhance the ways consumers engage with Reebok products across their entire ecosystem.
The partnership invites consumers to step into a world where their digital presence carries as much weight as their physical existence. This marks a paradigm shift in how consumers perceive and interact with fashion in the digital era. The allure of the metaverse lies in its promise to provide users with an immersive and interactive experience, blurring the lines between the physical and virtual worlds. For those eager to embrace the evolving landscape of digital experiences, the collaboration between Reebok and Futureverse offers an enticing proposition.
