FTX CEO and Solana co-founder offer advice for building Web3 ecosystems
FTX CEO Sam Bankman-Fried and Solana co-founder Anatoly Yakovenko shared valuable insights for early-stage Web3 founders during a virtual summit. The blockchain ecosystem is constantly evolving, yet there always seems to be one overarching sector dominating at a given time. For example, decentralized finance (DeFi) projects received an impressive amount of venture capital funding in 2021, making it the most invested sector last year. Findings further show that nonfungible tokens (NFTs) were the second most invested sector, while Web3 and infrastructure ranked third. Now, Web3 is proving to....
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There are many opportunities in the Web3 and metaverse space. Excitement is building, and projects are coming to fruition. However, there needs to be a stronger focus on interconnecting the virtual worlds, as society doesn’t need more siloed ecosystems. Connecting Metaverses Is Essential While one must apply the teams building their metaverses, some criticism is […]
Sandeep Nailwal, the co-founder of Polygon, encouraged Solana community members to keep on building. With Solana (SOL) being heavily affected by the FTX debacle, Crypto Twitter expressed sympathy and hopes that its community can make a comeback. Being one of many coins that FTX CEO Sam Bankman-Fried (SBF) supported, SOL has been hit heavily amid the FTX collapse. On Nov. 10, the total value locked on the Solana chain has fallen by 32.4%. The SOL token lost almost half of its value, dropping in value from $38 on Nov. 5 to $17 at the time of writing. Because of the devastating things....
The Web3 development platform and infrastructure provider will support Solana-built applications, despite the blockchain halting multiple times in 2022. In an announcement published by Alchemy just one day after the Solana network temporarily halted on June 1, the Web3 development platform and infrastructure provider announced its support for the controversial blockchain.Caused by a bug that made it impossible to reach network consensus, the Solana blockchain was halted for approximately four hours on Wednesday. This isn’t the first time the system has been compromised, as normal....
The blockchain unicorn created Web3 Engine as a developer tool set targeting DeFi, GameFi and NFT products and services. Digital asset custody platform Fireblocks has launched support for Solana, giving its thousands of users access to the developer network’s applications and infrastructure. Beginning Tuesday, Fireblocks users will have direct access to Solana’s various decentralized finance (DeFi) and Web3 applications — a move the company says will directly benefit “alternative asset managers” and “capital market participants.”“Thousands of businesses use Fireblocks to access novel Web3....
With the rapid pace of progress and innovation, blurred together with at least as much buzz-word saturated hype, it can become easy to get lost in the growing wave of news, advertisements, and social media blasts around the next big thing. Two of these buzzwords driving conversation are “Web3” and “Dapp”. What makes it more difficult is that you can’t just dismiss the news on either term. There are genuinely world-changing innovations that are being developed, and entire ecosystems are growing so rapidly that they feel like they are appearing overnight. It might be worthwhile to pause,....