Welcome back Chain reaction.
Last week, we talked about how the NFT community is going downhill but is still active. This week, we’re looking at the desperation of web3 startups for the post-Apple tech industry.
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crypto wants to have its own iPhone
There are some consumer companies that have a better reputation with users than Apple, there are also some “web2” companies that are more despised by crypto startups than Apple.
We’ve talked a bit about Apple’s reputation in the crypto space over time. The App Store’s rules are quite hostile to crypto startups and NFTs, but it’s not the least understandable move for Apple as the bank makes money from cutting back on in-app transactions. use and justify their monopoly by saying that they are protecting users from scams and malware. Well, no one can argue that it’s simple to avoid scams in today’s crypto space, but life under Apple’s mobile empire still leaves legitimate crypto apps content to become a desktop priority in an overwhelmingly mobile world.
Therefore, it is not too shocking that the crypto world is showing an interest in building a world without Apple. A task that doesn’t sound easy at all…
This week, Solana Labs, the creator of the Solana blockchain that has seen a dizzying rise and the token price has dropped quite a bit in recent months, has announced their own blockchain smartphone. If you’ve been reading TechCrunch for years, this will raise your eyebrows a little. It is nearly impossible to build a smartphone business like a startup, many have tried and few have achieved success that is even akin to success.
The Solana phone, called Saga, runs on Android and uses its own blockchain-centric features, including a built-in hardware wallet, essentially providing users with a more secure path to hold and trade crypto or NFT on their smartphone. I’m sure there’s an audience for this phone in the crypto world, but this isn’t the ideal launch time for a niche device that will likely have a tighter audience. next year when the phone actually comes out.
Web3 has received a surprising amount of buying from the web2 giants, but has notably received little warm reception from the companies that own the mobile hardware. Apple’s users are barely growing and demanding more access to the mobile app’s NFT purchases, so the company’s mobile grip will be a disappointment for now. The hope that web3 developers are tasked with is almost hopelessly finding a way out.
This week, my co-host Anita was on vacation so our colleague Jacquie joined us to dive into the week’s web3 happenings. We dive deeper into the topic of the Solana Saga phone, we discuss FTX’s alleged interest in buying Robinhood, we also chat about some of the crypto finance companies currently facing … deeply troubled.
For our guest this week, I chatted with Julian Holguin, CEO of Doodles. Doodles is a very popular NFT project that has made over $500 million in total sales. Holguin was previously a major executive at Billboard and took on the task of expanding the Doodles brand into an intellectual property powerhouse. The company just awarded its first round of venture funding from Alexis Ohanian and is gearing up for some major new NFT launches as it looks set to keep the team going even amid a crypto downturn.
according to money
Where startup money is moving in the crypto world:
- The first businessman raised $158 million from the Collison brothers to build a startup school with web programming3
- Codeless Crypto Game Platform Soba $13.5 million raise led by Lightspeed
- Start fitness make money Fitmint grossed $1.6 million from General Catalyst
- Web Games3 Stella Fantasy received $5 million from Animoca Brands
- NFT for children’s platform Cryptoys hit $23 million from a16z
- NFT Management Application EyesFi raise 2 million dollars from Multicoin Capital
- Blockchain launch Linera get 6 million dollars from a16z
- Start up financial security PolySign earned $53 million from Cowen Digital, others
- Start wallet login Dynamic grossed $7.5 million from a16z
- NFT for a good start R Labs received 5 million dollars from Softbank
TC + analysis
Here are some of this week’s crypto analysis that you can read on our TC+ subscription service (written by TC’s Jacquelyn Melinek):
This Crypto Winter May Be Long, But Builders Stay Optimistic
While the top digital assets in the crypto market are still down significantly so far, some market participants are opting out and focusing on the long game. The crypto world is working to build a human experience beyond throwing money at each other, said Evin McMullen, CEO of metaverse-focused Disco.xyz. “Now that we are no longer looking at green candles to keep us busy, we have the opportunity to explore other kinds of fun we can have,” McMullen said. “What other types of cooperative games can we solve based not only on token prices, but also on our activities as humans?”
Blockchain gaming undisturbed by crypto volatility as gamers ‘seek entertainment’
The web3 gaming industry is one of the few sectors that appears to be unaffected by current crypto market conditions, with capital continuing to pour into the space – and several industry players say that that’s a good reason. Robby Yung, CEO of Animoca Brands, said the number of active web3 game users has nothing to do with the market, because even if the economy is down, people will still be looking for entertainment. , Robby Yung, CEO of Animoca Brands.
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