We’re back with all your crypto and fiat news to make sure you stay up to date on market movements over the past week!
Web3 Insight 🌐
We’ve covered Axie Infinity in the past and this week we’ve taken a look at how two friends from Toronto are making money off the game, in a less conventional way.
Toronto-based management consultant Ansel Gravelle and his friend launched a scholarship system for prospective players back in July. Gravelle realised that many players wouldn’t be able to afford the $1,000 entry fee for the platform and saw an opportunity.
The business is called AxieFacts and in return for paying the entry fee of new players the take up to half of their earnings from the game, check out the rest of the story here.
Crypto News
It wasn’t just portfolios that were down this week in the crypto space, but spirits too as famous crypto trading hamster Mr Goxx died. Between July and November this year the tiny trader outperformed famous traders like Warren Buffet by growing his portfolio nearly 20%.
Elsewhere the world of NFTs and music continued their collision as Royal, the Music & NFT company, announced that they had secured $55 million in funding as they look to revolutionize the music industry.
Now To Vow is a social marketplace for organising weddings. As Niraj put it,
“Weddings are a unique, once-in-a-lifetime occasion. Unfortunately, to get there, you have to go through a year of pain first. Our mission is to make organising a wedding as enjoyable as the day. We do this by making it easy and social. Our marketplace brings transparency and automation, whilst social brings couples, guests, and suppliers together to collaborate and interact over the wedding.”
Since 2014, Niraj also served as an elected councillor in London Borough of Harrow. With this tech and politics background, he ended up advising and working with many GovTech companies.
1. What do you generally like to invest in and how would you describe your investing style? I've been making investments in early stage consumer startups with SEIS/EIS tax relief for the past few years. I go on the founder, the market opportunity, and whether I can see people adopting the product idea. Being on that side of the table has really helped me with the pre-seed investment round we're currently in the middle of.
2. Has any of this changed since being a member for the Zash community? Yes. I initially dismissed a lot of the crypto hype for the past few years but having started to get more clued up on it via Zash, I am keeping my eye on a few parts of the landscape. I probably won't go for any coins - I'd probably gravitate towards some blockchain infrastructure companies.
3. What industry are you most excited by and why? I think Web3 is interesting and I can see it playing some sort of significant role in the tech ecosystem. To what degree, I'm not sure yet, but I wasn't thinking much about it pre-Zash! I probably get most excited about the future of food/farming (e.g cell based meat) and energy, but I'd never invest in anything in those industries as I feel I don't have the technical expertise to truly understand the trends and timing.
Reading List
The big news last week for markets, and possibly cryptocurrency, was Joe Biden’s renewed faith in Jerome Powells stewardship of the Federal Reserve of the United States.
Powell has been in the role since 2018 and will serve another term under Biden, it was announced last week. Lael Brainard, his main competitor for the role, will assume the role of vice-chair.
Last week it was announced that delivery service company Getir had reached an agreement to acquire Weezy. Getir, which is Turkish for “bring” has been rapidly expanding since the start of the year and this is the first sign of consolidation in the exponentially growing rapid delivery market.
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