Blockchain gaming giant Animoca Brands has raised $75.3 million, which brings its market valuation to $5.9 billion. The company will continue to invest in more titles, believing that the so-called “crypto winter” won’t kill the industry.

Modern Times Group-owned company Kongregate has announced an acquisition of Chilean mobile studio Gamaga. The deal should help it expand its blockchain capabilities, including the development of Web3 games.

Shanghai’s government has announced it plans to establish a $1.5 billion fund dedicated to metaverse development. The initiative is supposed to accelerate China’s economic recovery through supporting companies working in this area.

Cauldron has raised $6.6 million in a seed round. The blockchain studio, which is now working on Project Nightshade, is focused on storytelling and wants to become the “Pixar of Web3”.

Pocketful of Quarters (POQ) has become an official Unity partner. This will not only allow developers to implement blockchain technology for their projects, but also to transfer in-game tokens between multiple titles.

New details about the infamous hack that resulted in over $600 million being stolen from Axie Infinity have been revealed. It turned out that hackers tricked a Sky Mavis developer into applying for a fake job offer at a fictitious company.

Jason Fung, former head of TikTok’s gaming division, has founded the new company titled Meta0. He wants to fix infrastructure problems with blockchain gaming by developing a special protocol with multi-chain support.

Blockchain company Polium has announced its own “multi-chain console” for Web3 gaming. The device, however, faced a lot of criticism online, with people struggling to understand its purpose. Not to mention its logo being similar to that of the GameCube.

Crypto hedge fund Three Arrows Capital (3AC) has filed for bankruptcy amid the ongoing blockchain industry collapse. The company is now seeking protection from creditors in the US after failing to pay a $670 million loan.

30 Chinese tech companies, including Tencent, have signed a pact to stop NFT secondary trading. They also pledged to regulate their activities in the market and prevent speculations.

Mona has raised $14.6 million for its metaverse platform for digital creators. It is designed to help people build virtual worlds and sell them as NFTs, while also offering its own infrastructure and editor.

The NFT market has continued its downfall this month, with sales dropping to the lowest levels in the last 12 months. Experts think that investors are now looking for safer places following the latest Terra collapse and other warning signs.

Project Twelve (P12), which operates its own metaverse editor, has closed a new $8 million funding round. The company will allocate the money to develop its own Web3 gaming ecosystem and make the game economy sustainable. One of the goals is to remove the widespread for-profit model.

STEPN, the most famous move-to-earn app globally, has seen its reward token drop almost 100% in the last two months. This might be due to the unsustainability of the product’s tokenomics. However, its rivals in the category have been on the rise for a while.

Harmony, a blockchain protocol for Web3 apps and games like DeFi Kingdoms, has offered a $1 million bounty for the return of $100 million stolen during the latest bridge attack. However, some people think the reward is too low for hackers to consider taking it.

Sky Mavis has pledged to reimburse Axie Infinity players affected by the $625 million hack no later than next week. However, the announcement came in the wake of the latest crypto market crash, which sent the Ethereum price to the downfall.

Square Enix has once again opened up about its blockchain ambitions. The Japanese publisher plans to create NFTs that will be integrated into its games and will focus on story.

Venture firm 1confirmation has launched a new $100 million fund for NFT projects. The company will invest in gaming, art, and other startups, with the main focus on new projects.

Epic Games-backed metaverse platform Core has started its expansion into the blockchain space. Manticore Games launched its own API that allows creators to make games and other interactive experiences based on their NFT collections.