Top Stories This Week：Cointime Weekly is a weekly blockchain industry summary column, take you through the blockchain industry events this week.
Headlines and Policy
Meta is introducing a way for creators to make their own NFTs (or digital collectibles) and sell them to fans and collectors both on and off Instagram.
More industry pilots have been launched to test the application of asset tokenisation and DeFi across a broader range of use cases in the financial sector.
Singapore wants to be a hub for digital assets, just not for trading and speculating in cryptocurrencies, Ravi Menon, managing director of the Monetary Authority of Singapore, said at the Singapore Fintech Festival. The city-state has shown its approval for blockchain technology and has embarked on various projects such as Project Ubin and Project Guardian which test blockchain applications in financial services.
Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, said today at the 2022 Hong Kong Fintech Week that the multilateral central bank Digital Currency Bridge project uses fintech tools to fully reuse existing infrastructure and realize connectivity between different central bank digital currency systems and traditional financial market infrastructure.
Goldman Sachs is set to start classifying the cryptocurrency industry in a bid to standardize the way the financial industry sees the nascent space, meaning the Wall Street giant will be classifying Bitcoin ($BTC), Ethereum ($ETH), Cardano ($ADA) and even meme-inspired assets like Shiba Inu ($SHIB).
Blockchain technology and Investment
WalletConnect, the web3 communications protocol company, announced that it has raised $12.5 million in an ecosystem round, with participation from Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, Union Square Ventures, 1kx, HashKey, Foresight Ventures, and others.
The Trovio DeFi Fund offers wholesale investors the opportunity to allocate capital into a yield-generating strategy within the DeFi ecosystem.The investment vehicle is managed by Trovio’s asset management team in partnership with Yield App’s highly experienced DeFi risk management team.
Blocto, a crypto ecosystem, and multichain wallet has announced the creation of a $3 million Aptos Ecosystem Fund to assist projects in bringing new users to Aptos. In the wake of Blocto’s Aptos integration, which saw 300,000 new Aptos wallets created in the first week, this is encouraging.
Token Flow is delighted to announce the first close of our Series A funding round with $12 million committed to date, and to welcome Electric Capital and Delta Blockchain Fund as incoming investors, alongside our existing Seed investor UDHC.
The company said it will invest the funds to expand its offerings to college students and strengthen the existing offerings for graduates and working professionals.
A zero-knowledge-oriented compliant privacy protocol, Elusiv, has secured $3.5 million in its seed funding round. LongHash and Staking Facilities Ventures led this round. The company stated in its press release that individual freedom relies on financial privacy, but privacy-maintaining technology requires practical compliance.
The team also announced that the native utility token, MT Token, will be listed on two top-tier exchanges in the coming months. MT Token will first be available on November 18 and then plans with another listing on December 2.
Orderly Network launched its mainnet on October 11th on the NEAR blockchain. The scheduled launch powered the decentralized exchange WOOFi DEX with Orderly’s order book infrastructure, allowing pro traders access to deep liquidity.
Recently the company successfully launched its own blockchain mainnet WEMIX3.0 including 100% collateralized stablecoin WEMIX$ and a DeFi platform WEMIX.Fi. A new economy platform NILE that supports NFT and DAO will be introduced soon as well.
The funding will go toward hiring more engineers, developing strategic partnerships and building out the Evmos ecosystem of interoperable decentralized applications (dapps).
The Berlin-based project enables real-world assets — such as real estate, consumer credit and invoices — to be tokenized and leveraged within DeFi services.
Mozilla Ventures builds on other recent investments the company has made as part of its Mozilla Builders startup incubator program, though in truth Mozilla has sporadically invested in nearly 20 companies over the past decade.
The funding is aimed at developing the go-to open architecture for building the next generation of financial services, scaling the first on-demand Metaverse, facilitating the first-ever bank acquisition by a blockchain firm, and launching a Web 3.0 super App.