Google introduces blockchain node service for Web3 development
Read about this week's developments, news, and trends in the Web3 ecosystem
Tech giant in-house cloud-based node engine service for Ethereum developers and projects.launched its
The blockchain node engine service will help Web3 companies to deploy smart contracts as well as read and write blockchain data on Google Cloud.
How it works:
As self-managed nodes are often difficult to deploy and require constant management, Google aims to deploy a fully managed node-hosting service that can minimise the need for node operations.
This implies its customers do not have to hire their own teams to maintain or monitor their nodes. Instead, with this service, Google will monitor the nodes. Ethereum is the first blockchain-powered by the Blockchain Node Engine.
NFT startup Kulturemint has introduced Urdu poet Gulzar and his timeless works as one-of-a-kind NFTs. The startup is also bringing on board a variety of people–from poets to journalists–in the near future to build on its idea of creating a bustling community of artists on Web3.
How it works
On a technological level,is like any other NFT marketplace. Users can sign up with a crypto wallet or plugin, and buy any collection that catches their eye.
But the NFTs sold are not limited to digital assets. Users get a physical version of the piece delivered to their doorstep upon purchasing a token.
Co-founder Govind Singh Sandhu explains, “We have taken Gulzar’s handwritten poems and turned them into NFTs. And when users buy the NFT, they also get the actual handwritten poem framed. So, it’s a physical collective asset as well.”
Silicon Valley’s Andreessen Horowitz's (a16z) flagship crypto fund reportedly lost around 40% of its value in the first half of this year.
Earlier in May, the firm had raised $4.5 billion, allocating $3 billion to venture investments and $1.5 billion to seed investments for early-stage crypto startups.
The 40% loss is much larger than the 10% to 20% loss recorded by other venture funds.
The firm had made notable early investments in firms such as Facebook, Airbnb, Twitter, Coinbase, and Stripe. It had invested millions in major cryptocurrency projects, including , , , and .
This year, the firm has made just nine crypto investments in the third quarter of this year—which is fewer than the 26 investments done in the fourth quarter of 2021.
Earlier this year,, a private venture capital firm, launched its $100-million seed fund focused on investments in Web3 and blockchain technology startups in the Middle East.
In May this year, the UAE-based VC firm announced that it had set up an ecosystem fund along with Ocean Protocol, according to which it has allocated $5 million to invest in Ocean Protocol projects.
Prior to the launch of the new $100 million funds, Cypher Capital had earlier invested in another private VC fund Crypto Oasis Sentio.
The firm has also played an important role in the growth of successful crypto and blockchain startups, including Kilt Protocol, Sheesha Finance, PAID Network, Splinterlands, CasperLabs, Matterless Studios, Prasaga, AukiLabs, and others.
Earlier this week, crypto exchange Blockchain.com announced its partnership with payments company Visa to launch a crypto card.
At present, the card will be available only to US customers and the company plans to expand its offerings to Europe next year. The crypto card is powered by Marqeta, a California-based payments company.
Prior to this partnership, Visa also partnered with crypto firms such as Coinbase and Binance. Earlier, in the first week of October, Visa partnered with crypto exchange FTX to offer crypto debit cards in 40 countries, including those in Latin America, Asia, and Europe.
Earlier this week, the instant messaging service Telegram launched its marketplace on the Telegram Open Network (TON) blockchain and will begin the auction of usernames for both individual accounts and channels through its marketplace.
The auction will last for a week, and users can add their existing handles for auction on Fragment.com.
Earlier in August, Pavlev Durov had hinted at the idea of launching a marketplace to auction usernames.
“Imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction," he had stated.
Edited by Kanishk Singh