Google introduces blockchain node service for Web3 development

By Prathiksha BU
October 28, 2022, Updated on : Sun Oct 30 2022 08:18:23 GMT+0000
Google introduces blockchain node service for Web3 development
Read about this week's developments, news, and trends in the Web3 ecosystem
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Tech giant Google launched its in-house cloud-based node engine service for Ethereum developers and projects. 


The blockchain node engine service will help Web3 companies to deploy smart contracts as well as read and write blockchain data on Google Cloud.

google

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.

Own Gulzar’s poems as NFTs

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. 

Kulturemint

How it works


On a technological level, Kulturemint 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.” 

A16z crypto fund incurs 40% loss in the first half of 2022

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.

Chris Dixon, a general partner at Andreessen Horowitz

Chris Dixon, general partner at Andreessen Horowitz, Image Source - TechCrunch

Recent developments:


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 Solana, OpenSea , NEAR, and Uniswap.


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.

Cypher Capital to support Web3 startups in the Middle East

Earlier this year, Cypher Capital, 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. 

Cypher Capital

Recent developments


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.

Blockchain.com introduces crypto debit card to US customers

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.

crypto

Recent developments:


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.

Telegram launches marketplace to auction rare usernames

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.

Pavel Durov

Recent developments:


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