Mighty Bear Games received $10 million in funding from Framework Ventures to launch its own blockchain unit and immediately announced its first blockchain game, Mighty Action Heroes.

Gala Games has announced its decision to pause the issuance of the TOWN token due to a series of major economic changes to its play-to-earn farming title Town Star. The game will also switch to a new engine to improve its security and attract new players.

Fintech startup Zebedee has closed a new $35 million funding round. The company will allocate this money towards scaling its blockchain payment platform for virtual worlds. The ultimate goal is to help developers build real economies in video games and let players earn Bitcoin while playing.

It has been revealed that almost 30 companies have lent money to Three Arrows Capital (3AC), a crypto hedge fund that filed for bankruptcy earlier this month. The total debt is $3.5 billion, with the list of creditors including the fund’s co-founder and his wife.

Dubai-based blockchain companies already contribute $500 million to the national economy. Now the Emirates plans to invest more in the metaverse and create 40,000 virtual jobs under a new strategy.

The global crypto market is now flashing green again, with Bitcoin and Ethereum showing significant gains. This rebound has made the global cryptocurrency market cap back above the $1 trillion mark after the latest collapse.

Us Democratic Senator Elizabeth Warren has called on Congress and the Securities & Exchange Commission (SEC) to tighten regulations on the crypto industry and protect customers from scams. She thinks that authorities have to act more aggressively, especially after the bankruptcies of several firms have resulted in people losing their investments.

The talent attrition in the crypto market continues. OpenSea, the largest NFT marketplace in the world, has cut 20% of its staff. The company cited the so-called “crypto winter” and macroeconomic challenges as the main reasons behind this decision.

UnCaged Studios is another ambitious studio in the blockchain gaming space. The team behind play-to-earn soccer game MonkeyLeague has now raised $24 million to develop high-quality crypto titles that can be sustainable.

Apex Game Studios is a new company founded by Dead or Alive creator Tomonobu Itagaki. The team will be making AAA Web3 games, including the upcoming MMORPG for PC and mobile titled Warrior.

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.