Author Archives: theblock.co

Metaplex Foundation to airdrop governance tokens to early adopters

Metaplex Foundation, the non-profit arm of the Metaplex Protocol, announced on Tuesday it is launching its own token under the MPLX ticker.  As of today (Sept. 20), through a multi-week claim period, the organization will distribute 14 million tokens to early community members. Those receiving the initial token tranche are early builders on the Metaplex[Read more…]

Token management platform Magna closes $15 million funding round

Token management platform Magna raised $15.2 million at a $70 million evaluation. The funding round was led by venture capital firms Tiger Global and Tusk Ventures, CoinDesk first reported. Shima Capital, Circle Ventures, Solana Ventures, Avalanche Labs and Galaxy Labs also participated in the round, as well as individual investors like DJ Steve Aoki and co-founder and[Read more…]

Token management platform Magna closes $15 million funding round

Token management platform Magna raised $15.2 million at a $70 million evaluation. The funding round was led by venture capital firms Tiger Global and Tusk Ventures, CoinDesk first reported. Shima Capital, Circle Ventures, Solana Ventures, Avalanche Labs and Galaxy Labs also participated in the round, as well as individual investors like DJ Steve Aoki and co-founder and[Read more…]

NFT mints on Solana have surged to an all-time high

Activity is surging around Solana-based NFTs despite an overall tepid market for so-called non-fungible tokens.  The Block Research’s Data Dashboard shows that the number of NFTs minted on Solana — or the number of new NFTs created on its blockchain — surged to a high of 312,000 on Sept. 7. That figure represents a significant[Read more…]

Mysten Labs, creator of the Sui blockchain, closes $300 million raise led by FTX Ventures

Mysten Labs has closed a $300 million fundraise at a valuation that tops $2 billion, according to an announcement on Thursday. Mysten is the creator of Sui, a yet-to-launch proof-of-stake Layer 1 blockchain that is built to mount a challenge to the likes of Ethereum and Solana. The startup’s co-founder and CEO Evan Cheng, who[Read more…]

Hubble Protocol raises $5 million in a strategic round led by Multicoin Capital

Solana-based stablecoin borrowing platform Hubble Protocol raised $5 million in a strategic round led by Multicoin Capital, the company announced on Thursday. Previous investors DeFiance Capital, Delphi Digital, Digital Currency Group, Crypto.com Capital, ParaFi, Jump Capital, Decentral Park Capital, CMS, Spartan Group, DeFi Alliance and Mechanism Capital also participated in the round. The company declined[Read more…]

Gaming firm Gameplay Galaxy raises $12.8 million in seed funding to build decentralized competitive games

The gaming firm Gameplay Galaxy, creator of web2 sports and racing games, raised $12.8 million in a seed round to expand a line-up of decentralized competitive games.   Blockchain Capital led this round, with additional participation from Merit Circle, Com2uS, Mysten Labs, Solana Ventures, Yield Guild Games and Hustle Fund, a release shared with The Block[Read more…]

Sunak’s crypto charm offensive brought to an end as Truss named UK prime minister

The election of Liz Truss as the UK’s new prime minister on Monday has further clouded the outlook for the country’s crypto policy. The new Conservative leader, who was voted in by party members to replace Boris Johnson in the nation’s top job, has not so far laid out a cohesive position on digital assets. Rishi[Read more…]

After The Merge, nearly all NFTs will be environmentally friendly

After years of delay, Ethereum is set to migrate to a proof-of-stake consensus mechanism this month, reducing the energy consumption needed to run the blockchain.   This will have a big impact on NFTs, which are primarily traded on Ethereum and get somewhat singled out for their perceived environmental impact. This reduced environmental impact may help[Read more…]

Coinbase Cloud launches Solana archival nodes

Blockchain infrastructure platform Coinbase Cloud announced the launch of Solana archival nodes yesterday, a tool to help developers build products and services that run on the network.  Previously, Coinbase Cloud launched dedicated standard Solana nodes to enable builders to access and verify transaction data from the blockchain. Expanding into Solana archival nodes provides developers with access to all historical[Read more…]