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CRYPTO HOT NEWS 07/08/2022

VC firm Konvoy launches new $150M fund, eyes blockchain-based games

Venture capital firm Konvoy Ventures announced the launch of Konvoy Fund III, with $150 million in capital that it plans to invest in a variety of platforms and technologies in the global gaming sector. According to Bloomberg, up to 30% ($45 million) of the fund will be allocated to the crypto and blockchain gaming space.

Playing it louder: Companies bring music licensing to the blockchain

Mehmet Eryılmaz, the CEO of Web3 entertainment firm Faro Company, said that blockchain provides new frameworks for traditional industries. He explained that: “Blockchain offers an opportunity to rethink a new economic model for all of the entertainment including the music industry.”

The Moscow Exchange is a good base for crypto trading, Russian lawmaker says

The Moscow Exchange (MOEX) is the best match for hosting a regulated crypto exchange in Russia, according to Anatoly Aksakov, head of the Russian Banking Association and a financial committee within the State Duma. Aksakov stressed the importance of building a crypto exchange under the strict requirements of the Russian central bank.

US Treasury issues framework addressing engagement on crypto with foreign regulators

The United States Department of the Treasury has delivered to President Joe Biden a framework on crypto for U.S. government agencies to work with their foreign counterparts. According to the Treasury Department, the framework aimed to encourage the development of digital assets while respecting “America’s core democratic values” and ensuring the stability and safety of the global financial system and international monetary system.

Reddit announces new blockchain-backed ‘Collectible Avatars’

Content aggregation, ranking, and discussion website Reddit announced a new blockchain-backed avatar system. The company said that the project is set to utilize the Polygon (MATIC) blockchain for decentralized trading and third-party sales. In addition, management of the Collectible Avatars is handled through Vault, Reddit’s blockchain-powered wallet that functions on Ethereum-compatible chains.

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