Jul 26 Week in News
In this recap of the crypto world, let us explore the events and news that had the most significant impact in the past week. Our focus will be on the following developments:
- Igloo Receives Major Funding
- Doodles Introduces a Token-Gated Media Platform
- Yuga Labs Announces the Launch of Project Dragon
- Azuki x Hallway
- Reddit Discontinues Collectible Expressions
Igloo Receives Major Funding
Igloo Inc., the parent company of Pudgy Penguins, has announced a substantial $11 million funding round. This significant financial boost marks a pivotal moment for Igloo as it aims to broaden its impact in the cryptocurrency sector.
The funding round was led by the Founders Fund, with additional contributions from Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital. The newly acquired capital will be directed towards the creation of Cube Labs, a new division within Igloo. Cube Labs is set to focus on blockchain research and development, which will be instrumental in advancing the Abstract project and its foundational technologies.
Notably, Abstract is an innovative blockchain initiative, designed to enhance the consumer experience in the digital world. Utilizing cutting-edge Zero-Knowledge (ZK) technology, Abstract offers a platform for transactions that are secure, efficient, and scalable. Currently, Abstract is in its testnet phase, with plans to launch its mainnet later this year, signaling a major step forward in its progress.
All in all, the establishment of Cube Labs and the successful funding round underscore Igloo’s commitment to pushing the boundaries of blockchain technology. With Abstract poised to transform the way consumers interact digitally, Igloo is well-positioned to make significant advancements in the crypto space. Read more on this here.
Doodles Introduces a Token-Gated Media Platform
Doodles, a pioneer in the NFT space, has recently launched a direct-to-community media platform named Doodles TV. This new venture is a strategic move to elevate the Doodles IP and position it as a global brand.
Doodles TV is designed to revolutionize how media is created, shared, and owned. By creating a direct link between artists and their audiences, it allows fans to participate actively in content creation. Users of the platform can enjoy exclusive premieres of music, films, and digital art, and engage with creators through live chats and interactive features.
This unique approach enhances user engagement and fosters a stronger sense of community. By involving fans in the creative process, Doodles TV not only transforms media distribution but also deepens the connection between artists and their audiences.
Overall, Doodles TV is set to redefine media interaction, making it a more participatory and immersive experience for both creators and fans. This inclusive and dynamic experience makes the creative journey more meaningful for everyone involved.
Yuga Labs Announces the Launch of Project Dragon
Yuga Labs is set to launch Project Dragon, a groundbreaking action game series within the Otherside metaverse. This series of monthly events, developed by Improbable using the ODK toolkit, represents a major advancement in metaverse gaming.
For now, these events are token-gated and will open up to all of Yuga Labs’ NFT holders, including Voyagers, BAYC, MAYC, BAKC, Meebits, Grailed, Moonbirds, HV-MTL, and Kodamara NFT holders. In addition to all this, each event session will be brief, lasting only two hours, but is promised to provide an intense and engaging gaming experience.
The first season, featuring three events, will begin on July 27th at 12 PM EST in Meetropolis, a voxelized metaverse environment within Otherside. These events mark a significant milestone for Otherside, enhancing its position as a leading metaverse gaming platform.
Azuki x Hallway
In an exciting development for fans of digital art and interactive media, Azuki has announced a partnership with Hallway, a pioneering startup known for its AI technology that animates 2D characters. This collaboration represents a significant advancement in storytelling, blending cutting-edge technology with creative imagination to create dynamic, interactive personalities.
Hallway’s innovative AI will transform Azuki’s characters into fully autonomous, interactive entities. The first character to undergo this transformation is Bobu. Early tests show Bobu engaging with audiences, integrating Azuki’s rich lore and community feedback into its interactions, highlighting Azuki’s progress in enhancing storytelling through technology.
However, despite the enhanced interactivity provided by AI, the design and visual style of Bobu and other Azuki characters remain the work of human artists, led by Arnold Tsang, Co-creator of Azuki. This ensures that the characters maintain their intended essence and visual identity, even as they gain new lifelike features.
All in all, this partnership between Azuki and Hallway marks a major leap forward in digital storytelling, combining advanced AI with artistic creativity to offer a more immersive and engaging experience for fans.
Illuvium Officially Launches
In a highly anticipated move, Illuvium has officially launched its innovative blockchain game, potentially igniting a gaming bull run this summer. This launch promises an immersive experience with an open beta, community events, and a wealth of new content.
Illuvium introduces players to the world’s first interconnected universe, offering three distinct gaming experiences. In Illuvium: Overworld, players encounter Illuvials, mythical creatures native to the Illuvium universe. Players can hunt and capture these Illuvials, which are central to the game’s mechanics. After capturing Illuvials in Overworld, players can bring them into Illuvium: Arena, a strategic auto-battler. Here, Illuvials face off against AI opponents or other online players, testing players’ strategic skills. Lastly, in Illuvium: Zero, players develop land, extract resources, and stimulate the economy, adding another layer of engagement to the Illuvium ecosystem.
To celebrate the launch, Illuvium is initiating a six-month airdrop campaign, offering players a chance to earn part of the 180,000 $ILV reward pool by completing in-game tasks and milestones. Each month, 30,000 $ILV will be distributed, encouraging continuous player engagement.
