285 days ago • cryptodaily
Coinfund, Polychain Raise Over $350M
Venture capital firms Coinfund and Polychain Capital have successfully raised a total of $350 million in their latest fundraising rounds, showcasing returning confidence in the crypto space.
Coinfund Raises $152M
New York-based venture capital firm, Coinfund, has successfully raised $152 million in its latest funding round, showcasing confidence in the crypto space despite the recent pullback by many investors. The firm, known for its portfolio of 105 companies, prioritizes projects that contribute to the development of crypto infrastructure, with a specific focus on enabling greater decentralization.
Polychain Raises $200M Of $400M Goal
In a similar chain of events, another blockchain-based venture capital firm, Polychain Capital, has also completed its initial close, amassing approximately $200 million for its fourth crypto venture capital fund.
The total goal for the fund is set at $400 million, in line with the amount specified in an April filing with the SEC for the Polychain Ventures IV (Parallel) LP fund.
With just under $2.6 billion of assets under management, the VC firm struggled during the crypto winter, having to lay off staff, much like many other crypto-focused organizations. Crypto investments took a major hit last year, with funding for crypto projects shrinking from $9.1 billion a year earlier to only $1.7 billion.
However, the recent crypto-positive ruling in the SEC vs. Ripple case has renewed interest in crypto, with Coinbase shares hitting their yearly high.
Coinfund Continues Crypto Bet
Coinfund has already made significant investments in companies such as Giza, an AI-focused venture that raised about $3 million in seed funding, and infrastructure projects like Cosmos, where it helped raise $10 million to advance the development of its Neutron smart contract platform in collaboration with Binance Labs and others.
This latest move by Coinfund comes amidst a broader retreat from crypto investments after a challenging year marked by multiple failures, including the collapse of the TerraLuna stablecoin and FTX exchange. Additionally, higher interest rates have made borrowing more expensive, complicating the fundraising landscape.
Focusing On Scalability, Interoperability
Coinfund's co-founder and chief investment officer, Alex Felix, explained that the implosion of cryptocurrency exchange FTX last year had led developers to double down on completing the roadmap to a decentralized application developer stack. As a result, scalability, interoperability, and user experience have become renewed areas of focus.
While previous rounds of fundraising centered on established categories like NFT gaming and DeFi, this latest round will shift the spotlight towards emerging sectors, particularly early-stage crypto start-ups, especially those involving artificial intelligence.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
317 days ago • cryptodaily
OKX and McLaren Racing Host Panel on Technology in Sports and Film at Tribeca Festival
New York City, New York, June 15th, 2023, Chainwire
Panelists included OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris and director, producer and screenwriter Stephen Kay
From left to right: Director, producer, and screenwriter Stephen Kay; McLaren Racing CEO Zak Brown; Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain; OKX CMO Haider Rafique; and McLaren F1 Driver Lando Norris discuss the power of technology in sports, film and crypto
OKX, a leading Web3 technology company, yesterday hosted a panel discussion with McLaren Racing at the Tribeca Festival titled, "Need for Speed: How Technology Powers Change in Sports, Movies, and Crypto," featuring OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris, and director, producer and screenwriter Stephen Kay.
The panel, moderated by Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain, was held at the Tribeca Screening Room and focused on how technology has transformed various industries, including sports, entertainment, cryptocurrency and finance. During the discussion, the panelists emphasized the impact of innovation on speed, performance and efficiency across the different sectors.
OKX Chief Marketing Officer Haider Rafique said: “We've achieved a lot together in just one year. The McLaren F1 team has a huge appetite to lean into Web3 and make its heritage more discoverable for younger generations, and we want to play a big role in making that a reality for them. There are incredible stories here that can motivate the next generation of drivers and fans to get involved with the sport and, in particular, celebrate McLaren's achievements on and off track. Our goal is to help McLaren transcend into this future and share what we are cooking together on our panel".
McLaren Racing CEO Zak Brown said: “This panel was a great opportunity to share the stage with our Primary Partner OKX, and discuss how technology can power change in our respective industries. In Formula 1, we constantly look to innovate and leverage technology to maximize our fan engagement opportunities. Partners like OKX can support us in these commitments, exploring how they can guide our Web3 strategy and make our sport ever-more exciting and accessible for the fans.”
OKX CMO Haider Rafique (left) and McLaren F1 Driver Lando Norris (right)
McLaren Racing CEO Zak Brown (in orange, left) and McLaren F1 Driver Lando Norris (in orange, right) with OKX CMO Haider Rafique
Tribeca Festival 2023 is OKX’s second consecutive year as the presenting sponsor. The company's multi-year partnership with Tribeca Festival aims to unlock new Web3 opportunities for creators, fans and talent. OKX also introduced the first-ever Tribeca Festival NFT pass for 2023 in January.
In May of last year, OKX and McLaren Racing announced a multi-year partnership that would make OKX a Primary Partner of the McLaren Formula 1 Team and McLaren Shadow esports team. Through this partnership, OKX supports the team’s global fan experience, providing exciting opportunities and product innovations that bring fans closer to the action. OKX branding is featured on the McLaren cars, the helmets of McLaren F1 drivers Lando Norris and Oscar Piastri, as well as the McLaren F1 and McLaren Shadow team kits.
About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace and DEX.
OKX partners with a number of the world's top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.
To learn more about OKX Web3, download our app or visit: okx.com/web3
About McLaren Racing
McLaren Racing was founded by racing driver Bruce McLaren 60 years ago in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.
McLaren Racing competes across five racing series. In 2023, the team will compete in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Felix Rosenqvist and Alexander Rossi, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers René Rast and Jake Hughes, and the Extreme E Championship with NEOM McLaren Extreme E Team drivers Emma Gilmour and Tanner Foust. The team also competes in the F1 Esports Pro Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships.
McLaren is a champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry.
McLaren Racing – Official Website
About the Tribeca Festival
The Tribeca Festival, presented by OKX, brings artists and diverse audiences together to celebrate storytelling in all its forms, including film, TV, immersive, games, audio storytelling, music, and online work. With strong roots in independent film, Tribeca is a platform for creative expression and immersive entertainment. Tribeca champions emerging and established voices; discovers award-winning filmmakers and creators; curates innovative experiences; and introduces new technology and ideas through premieres, exhibitions, talks, and live performances.
The Festival was founded by Robert De Niro, Jane Rosenthal, and Craig Hatkoff in 2001 to spur the economic and cultural revitalization of lower Manhattan following the attacks on the World Trade Center. Tribeca will celebrate its 22nd year from June 7–18, 2023.
In 2019, James Murdoch’s Lupa Systems, a private investment company with locations in New York and Mumbai, bought a majority stake in Tribeca Enterprises, bringing together Rosenthal, De Niro, and Murdoch to grow the enterprise.
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your risk tolerance and financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
Contact
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341 day ago • cryptodaily
The Web3.Conference United Industry’s Brightest Minds in Amsterdam
Amsterdam, Netherlands, May 24th, 2023, ChainwireThe organizers of The Web3.Conference are celebrating a successful day-long event that brought together the industry’s leading lights. Held in Amsterdam on May 19th, the annual event from the AroundB team discussed hot topics and gathered industry insights from Web3 experts.With more than 20 speakers, four panel discussions, and six startup pitch sessions during seven hours, the agenda contained something to suit every guest. Mark Eid from Qlindo, the main sponsor of the event, spoke about green real estate and renewable energy investment opportunities. The subject of how to invest in Web3 was continued by a lively panel discussion between Rachel Pipan (Maneuvre), Nick van der Heiden (Hodl), Sofia Chikara (4wrdtech), and Sandro Potenza (Global Coin Research).Nirmala Shome’s (The Fabricant) speech was dedicated to Web3 fashion and its possibilities. The future of Web3 identity and social networks was covered bySharon Sciammas (W3B Lab) as well as panel participants Gijs Ertemann (Secret Network), Joonatan Lintala, (Phaver), Sharon Sciammas (W3B Lab), Nico Gallardo (Troop Labs), and Sara Anna Mamel (KILT Protocol).An intense panel discussion titled “The Role of NFTs and the Metaverse in Web3” was conducted by Nishera Sachdev from Luna PR, Lianna Adams (Web3/NFT GTM Advisor), Cosmin Gafta (YOM), and Mickelle Weber (House of Peregrine). The topic “Metaverses as Jurisdictions” was led by James Haft (DLTX), while the section “Web3 Infrastructure: Building DAOs” was supported by Philippe Honigman (Mangrove DAO), Jamie Holmes (Perpetual Protocol), Soumaya Erradi (Scaling Parrots), Vincent Plaisier (The Graph AdvocatesDAO), and Ben Hoelzl (FTW DAO).One of the special panels was dedicated to startups that presented their future-proofed vision: TrueBlocks, Rail, Ping, Tribal.market, Tide, Aidonic, and 1inch hardware wallet.Natalie Gavrilenko, AroundB CEO, said: “Thank you to everyone who attended. The AroundB team is grateful for every participant at The Web3.Conference. The goal of the event was to bring together people from different countries, with their own vision of the Web3 future, to share their thoughts with the audience, and make our own impact on the Web3 development industry.”The Web3.Conference was held in Felix Meritis, known for its winning design by the architect Jacob Otten Husly. He built it for a new society called Felix Meritis that was established in 1776 for Music, Drawing, Physics, Commerce and Literature in the modern neo-classical style.AroundB thanks the main sponsor of the event Qlindo that bridges the gap between blockchain and green real estate investment opportunities, paving the way to a sustainable future, and thanks all the participants, speakers, and media partners for making this event happen.ContactPR ManagerMaria [email protected]