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Animoca Brands CEO Robby Yung says investors have been more discerning when allocating capital to Web3 gaming projects during crypto winter. Investing in Web3 gaming has required a greater level of due diligence through a testing crypto currency bear market, according to Animoca Brands CEO Robby Yung. Yung, who is also co-founder of popular Metaverse platform The Sandbox, highlighted more robust check-boxes when considering Web3 gaming investments while speaking at the European Blockchain Convention in Barcelona. Related: Animoca still bullish on blockchain games, awaits license for metaverse fund The Animoca Brands CEO said that investment propositions involve finding a mix of passionate teams with specific skill sets who are building product ideas that have a clear market fit: “Now that we're in a sort of crypto winter and an economic downturn, from the investor perspective, we can afford to be quite choosy because obviously, capital is scarce.” Yung added that the stage of d

CyberConnect co-founder Ryan Li believes that creators who want their content to live forever will ditch Web2 social media platforms for Web3 alternatives. The Web3 industry continues its mission to disrupt the World Wide Web, and social media is one of its primary targets. In the 34th episode of Cointelegraph’s Hashing It Out , host Elisha Owusu Akyaw interviews Ryan Li, co-founder of CyberConnect, about the concept of decentralized social media.  Li kicks off the episode by explaining the rationale behind creating social media platforms running on blockchain. Li points out that Web3 social media platforms give content creators the confidence that they won’t be abandoned when the platform gets bigger or shifts its focus to ad revenue, unlike traditional platforms. This feature is built on top of a decentralized financial system, and the speculative nature of the space creates a strong case for SocialFi. Li also highlights updates in recent years that have shone a spotlight on decent

PayPal has unveiled its new Pn and Off ramps for web3 payment s for merchants and businesses . The new service will enable businesses and merchants to accept cryptocurrencies from their customers. With this service, PayPal’s integrated merchants can expand their user base by offering them the option to buy and sell cryptocurrencies using fiat money. On Ramp lets crypto exchanges let their users purchase digital assets with PayPal. At the same time, Off Ramp enables users to convert their crypto into fiat and receive it in their PayPal accounts. This service builds on PayPal’s previous On Ramp solutions, which allowed its customers to access cryptocurrencies through PayPal via partnerships with Metamask and Ledger. You might also like: Former PayPal president explores vision for Bitcoin as global payment network PayPal’s crypto journey A leading online payment processor, PayPal has made significant strides in cryptocurrency. Recognizing the growing popularity and potent

Cointelegraph Accelerator participants will get a headstart with Consensys’ Web3 solutions, including MetaMask, Infura and Linea zkEVM. The transition from Web2 to Web3 is reshaping the technology landscape and attracting the attention of developers. Despite the challenges faced during the current crypto winter, the Web3 ecosystem continued to onboard new developers, with many thousands of developers making the jump from Web2 to Web3. However, developers working with Web3 and blockchain technology can face numerous issues if they lack the proper knowledge, infrastructure and tools. Web3 teams need assistance developing in a complex environment without introducing vulnerabilities into their smart contracts that could lead to security breaches, such as hacks and exploits. The number of active Web3 developers is rising. Source: Electric Capital. To avoid these potential setbacks, Web3 startups are seeking support from established industry players. Blockchain and web3 software company Con

The widespread adoption of NFTs could be on the horizon, but we need simple solutions for users, Gorilla Funds’ Jakob Sievers tells crypto.news at NFT Show Europe. Web3 is already poised to fundamentally transform the way we operate, according to Jakob Sievers, CEO of Gorilla Funds, a German-based web3 company, during his recent talk at NFT Show Europe in Valencia, Spain. Sievers gave real-world examples of potential NFT adopters, such as artists, event organizers, and fitness companies. He emphasized, however, that the absence of necessary tools hinders the journey to mass adoption, the complexity of NFT technology, high-cost barriers, and the reliance on people owning crypto wallets, a condition not yet met by many prospective users. You might also like: Crypto Twitter thrilled about Google Play adding NFT support For example, the possible strategies to overcome it for a fitness company could include offering an accessible solution to mint NFT smart contracts and combini

Matthias Mende said while it’s very unfortunate, there are a lot of bad actors using social media who are constantly trying to bring harm to others. Digital fraud is a huge problem in social media. Each day, scammers create new accounts mimicking popular content creators, and attempt to get fans and other unsuspecting victims to send them money. To solve the problem, some turned to the blockchain to try to create and implement a decentralized social identity verification system.  At the recent World Token Summit 2023, Cointelegraph spoke to Matthias Mende, the co-founder of the Dubai Blockchain Center and a speaker at the event. During his speech, Mende talked about one of the center’s projects implementing blockchain technology to create a decentralized social identity for its users. Cointelegraph reporter Ezra Reguerra with Matthias Mende (right) at the World Token Summit event in Dubai. Source: Cointelegraph  Speaking to Cointelegraph, Mende shared that identity fraud has been a c

The collaboration is set to allow founders building on Celo to access credits for Google Cloud and Google’s mobile development platform, Firebase. The Celo Foundation has partnered with Google Cloud to support mission-aligned projects in Celo's blockchain ecosystem and advance the early adoption of Google Cloud services. The collaboration is set to allow founders building on Celo to access credits for Google Cloud and Firebase usage, thereby enhancing Celo's mobile-first infrastructure and decentralized applications (Dapps). Firebase is a mobile and web application development platform developed by Google that provides developers with various tools and services for building apps, including authentication, real-time databases, cloud storage, and messaging. According to the announcement, the Google Cloud team will also provide mentorship and guidance to the Celo Foundation's Founders in Residence program and participate in the virtual Celo Camp accelerator program, which su

According to CoinShares, digital asset investment products saw inflows totaling $76 million last week On Feb. 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that investors are showing a strong interest in digital asset investment products, with inflows totaling $76 million last week, marking the fourth consecutive week of inflows. The report indicates a change in investor sentiment for the start of 2023, with year-to-date inflows now at $230 million. This growth has led to an increase in total asset s under management (AUM), which now stands at $30.3 billion — the highest since mid-August 2022. Investors are primarily focusing on Bitcoin (BTC), with weekly inflows of $69 million, accounting for 90% of total flows for the week. This investment growth primarily comes from the United States, Canada and Germany, with weekly inflows of $38 million, $25 million and $24 million, respectively. However, opinions are divide

The partnership hopes to bring the Metaverse directly into the living rooms of viewers. South Korean tech giant LG Electronics announced that it has teamed up with Oorbit, a cloud-based technology platform and PIXELYNX, a company building an integrated music, gaming, and Web3 ecosystem, to bring the metaverse directly into the living rooms of viewers. Announced just in time for #CES2023, we’re excited to announce that we have partnered with @LGElectronics to bring interoperable gaming and social experiences directly to your LG Smart TVs. READ: https://t.co/nppJZe650B — Oorbit (@OorbitOnline) January 4, 2023 The collaboration is set to allow viewers to be able to explore interconnected virtual worlds, concerts, and AI multiplayer games through their LG TVs, making it easier for consumers to interact in the Metaverse.  According to the Jan 4. press release sent to Cointelegraph, users will be able to access “super high fidelity interconnected virtual worlds” and experiences including