Crypto Weekly Recap: TapNation’s Web3 Push with PLAY, Praxis Funds Tech City, Blockstream secures $210M
In Brief
In October, the crypto landscape experienced a surge in strategic partnerships and investments, including developments in Web3, DeFi, and GameFi, as well as significant funding successes.
As October entered its second half, the crypto landscape saw a surge of strategic partnerships and investments pouring in. We’re talking about developments in Web3, DeFi, and GameFi by Play & TapNation, Truflation & Scannit, QANPlatform and Cointelegraph Accelerator. That’s not to mention massive funding successes by Praxis, Azra Games, and Blockstream and a whopping $4.75M presale round by the DTX Exchange. So, this Autumn, investors have quite a few reasons to smile. Read on to find out more!
Play & TapNation
PLAY is collaborating with TapNation to introduce its popular gaming titles to the Web3 space. One of the first games in this transition, Rock Crawling, has already surpassed 15 million downloads. The Web3 adaptation of this hit game is expected to launch in Q1 2025. This effort aligns with PLAY’s broader goal of attracting mobile gamers to blockchain gaming, leveraging TapNation’s massive user base, which boasts over 60 million active players each month.
Christina Macedo, CEO and founder of PLAY, described this initiative as a way to make gaming more accessible, especially for players who lack access to traditional gaming hardware.
Additionally, PLAY has introduced a podcast titled PLAYground, where they explore trends in gaming and Web3. The first episode, which featured ex-Sony executive Shawn Layden, went live on September 30th, offering insights into the future of gaming. This partnership places PLAY at the forefront of connecting traditional gaming with blockchain tech.
Truflation & Scannit
Truflation, a provider of real-time economic data, has partnered with Scannit Inc., a leader in user-controlled data monetization, to enhance the accuracy and transparency of its economic insights. The integration of Scannit’s ethically sourced, user-consented data will help Truflation create richer data sets for businesses, researchers, and analysts. Truflation’s platform currently tracks over 20 million items through more than 80 data providers and brings this information on-chain, allowing for greater democratization and access to real-time financial data.
This partnership is part of Truflation’s broader initiative to expand its data ecosystem, which includes over 782 data feeds covering sectors like agriculture, energy, and commodities. The partnership aims to further develop a decentralized and user-driven data network that powers smarter financial decisions.
Praxis secures $525M for building a tech-friendly city
Praxis has secured $525 million in funding to develop a city optimized for technology-driven sectors, including crypto, AI, biotech, and advanced manufacturing. The project is backed by key investors such as GEM Digital and Arch Lending. GEM Digital’s $500 million investment will be converted into crypto tokens tied to future real estate developments. The funding will be released incrementally as Praxis achieves major milestones like land acquisition, ownership tokenization, and the start of construction.
This project aims to create a deregulated, innovation-driven city that could attract top tech talent and companies in emerging industries. With plans to house 10,000 people on a 1,000-acre site, Praxis aims to become a hub for crypto and AI development, potentially unlocking new investment opportunities in real estate, technology, and decentralized infrastructure.
Azra Games secures $42.7M for mobile RPG
Azra Games has successfully raised $42.7 million in Series A funding led by Pantera Capital, with support from a16z Crypto, a16z Games, and NFX. This brings their total funding to $68.3 million. Founded by Mark Otero, co-founder of KlickNation, Azra is diving deep into the development of mobile RPGs integrated with blockchain technology.
The fresh funds will be used to develop a free-to-play RPG for Western audiences and to further research at Azra Labs, which is focused on leveraging AI to speed up game development. With the global RPG market projected to reach $38.46 billion by 2029, Azra aims to position itself at the intersection of gaming and blockchain, ready to tap into this growing market.
Blockstream secures $210M for Bitcoin Layer-2 strategy
Blockstream has secured $210 million in debt financing, led by Fulgur Ventures, to support its Bitcoin infrastructure projects, including its layer-2 scaling strategy, mining operations, and financial products. This follows the launch of its second security token, Blockstream Mining Note 2 (BMN2), aimed at institutional investors. The BMN2 token is backed by Bitcoin hashrate from Blockstream’s North American mining facilities, offering direct exposure to Bitcoin mining.
Source: Blockstream
Blockstream’s Liquid Network, a key layer-2 solution, has facilitated over $1.8 billion in asset issuances, including stablecoins and tokenized bonds. The funding will further Blockstream’s efforts to enhance Bitcoin’s scalability through faster transactions and reduced fees as the demand for Bitcoin layer-2 solutions grows amidst rising network activity.
QANplatform joins Cointelegraph Accelerator as Infrastructure Partner
QANplatform, a quantum-resistant Layer 1 blockchain, has teamed up with Cointelegraph Accelerator as its new Infrastructure Partner to drive Web3 development while safeguarding against future quantum computing threats. Known for its quantum-resistant technology, the QANplatform offers secure, flexible tools for decentralized app (dApp) development, catering to everything from retail projects to government initiatives. The platform made headlines in March 2024 when its tech was adopted by the first EU country, marking a milestone for quantum-resistant infrastructure.
This partnership comes hot on the heels of QANplatform joining the Linux Foundation’s Post-Quantum Cryptography Alliance, positioning the platform as a frontrunner in quantum-secure blockchain solutions. With Cointelegraph Accelerator’s backing, QANplatform will provide cutting-edge security and development support for Web3 startups, ensuring that emerging projects are well-prepared for the post-quantum era. Cointelegraph Accelerator, the venture arm of the blockchain media giant, focuses on mentoring and connecting startups with industry leaders, pushing forward innovation across the Web3 ecosystem.
DTX Exchange’s presale hits $4.75M
DTX Exchange, a rising DeFi platform, smashed through $4.75 million in its presale, finishing weeks ahead of schedule. The platform’s mission is ambitious – bringing over 100,000 assets, from crypto to stocks to real-world assets (RWAs), into one seamless trading hub. Early interest skyrocketed the token price from $0.01 to $0.08, showcasing strong demand from investors.
Built on the VulcanX blockchain, DTX Exchange offers standout features like the DTX Unified Wallet, which lets users manage forex, equities, and crypto in one place. Its Enterprise RWA platform is another game-changer, allowing real-world assets to be tokenized for easier access and trading. With over 70,000 members onboard and public trading around the corner, DTX is gunning to bridge traditional finance and DeFi, tapping into the $2 trillion crypto market and the $90 trillion equities space.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
More articles
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
