#Web3

American company Morgan Creek Digital plans to raise $500 million for its new Web3 Venture Capital Fund, which will focus on artificial intelligence, blockchain technologies, chip manufacturing, and data processing. This initiative is part of the firm’s strategy to expand its presence in Europe, Africa, and other regions, building on its already managed assets of over $440 million.

The "Hack3D: The Web3 Security Report," published by CertiK, a security company, reveals that blockchain projects experienced 184 security incidents in the second quarter of 2024, resulting in losses totaling $688 million. This marks a 37% increase from the previous quarter.

A new Web3 mini-game, Pocket Rocket, has launched on the Whitechain blockchain. This space-themed strategy clicker game invites players to compete for valuable crystals and positions on the global leaderboard.

Victor Ji, co-founder of Manta Network, has described the Polkadot ecosystem as toxic, accusing the team of inefficiency and a lack of genuine decentralization. He asserted that Polkadot adds no real value to Web3.

The popular metaverse project The Sandbox has announced its acquisition of several meme coins, including PEPE, SHIB, DOGE, and BONK. This move is aimed at bolstering the Web3 ecosystem and fostering a culture of creativity, essential elements in any metaverse.

Linda Jeng, CEO of Digital Self Labs, a Web3 venture, praised the Federal Trade Commission's (FTC) prohibition of non-compete agreements that limit employees from moving to rival companies. Linda shared how this issue had personally affected her career.