Hey Waivly Crew! 🌊 Immutable has launched a $500 million venture fund focused on Web 3 games and NFT projects. A new WhatsApp update lets users mute individual people during a group call.
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Elon Musk hints at crypto plans during Twitter meeting
After securing a $44 billion deal to acquire Twitter in April, billionaire Elon Musk met with employees virtually on Thursday to discuss how crypto could be used on the social media platform.
According to a transcript of the meeting shared by Recode, Musk explained that news, entertainment, and payments are like three critical areas. To that extent, he wants to focus on making Twitter "so compelling that you can’t live without it and that everyone wants to use it."
The Tesla CEO went on to explain how crypto could be used on the platform: "Money is fundamentally digital at this point," he said. "it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth," adding that such plans would include "currency as well as crypto."
Musk also hopes to eliminate crypto scams on the platform. “There [are] quite a lot of crypto scams on Twitter,” he said. “It’s gotten better, but there’s still a fair bit of that.” To fix this problem, he proposed to make Twitter's algorithm open source so that users can "critique it, improve it, identify bugs, potentially, or bias."
Earlier this year, Twitter accepted Musk’s $44 billion offer to acquire and privatize the company. However, he later threatened to abandon the deal unless the company provided him with data that shows less than 5% of its accounts are fake. Twitter’s board plan to comply with Musk’s demands, according to the Washington Post.
Immutable launches $500M fund for Web3 games
Web3 gaming firm Immutable has launched an inaugural $500M developer and venture investment fund.
The fund will aim to accelerate the growth of its layer-2 scaling solution on Ethereum, Immutable X, by allocating token grants and investments to Web3 games and NFT-focused projects building on the platform.
“We see gaming being one of the biggest opportunities in web3 to have ever existed,” Immutable President Robbie Ferguson told TechCrunch. “The total addressable market is going to be enormous and much bigger than what gaming is today — a $100B industry for in-game items alone.”
Immutable's fund will also collaborate with other Web3 gaming and NFT-focused investors, including BITKRAFT, Animoca Brands, Arrington Capital, Double Peak, AirTree, King River Capital, and GameStop, as well as leading strategic gaming publishers, for additional investment opportunities.
In March, Immutable closed a $200 million Series C funding round led by Singaporean state-owned investment firm Temasek. Immutable Ventures has already made several investments in Web3 companies and NFT startups, including Starkware, Stardust, PlanetQuest, and Topology.
The Waves
🛍️ Meta to launch digital fashion store
🤝 FTX agrees to acquire crypto exchange Bitvo
👀 5 unique NFT projects to keep an eye on
📃 Do Kwon & Terraform Labs sued for misleading investors
NFT Special
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WhatsApp rolls out new feature for group calls
The messaging platform, WhatsApp, has recently announced that they are rolling out new features for group calls.
One of the new features that WhatsApp added is the mute feature which allows all participants in a group call to mute specific people, unlike other conferencing apps like Zoom, where only the host could mute participants.
The new feature enables WhatsApp users to have more control when participating in a large group call. Besides adding the mute feature, users will now be able to send messages to specific individuals in a group call.
WhatsApp is also rolling out new options for users to control their privacy settings. Users will now be able to choose which contacts can see their profile photo, about section, as well as the user’s last seen status. A user’s last seen status is when they were last active on the messaging platform. The rollout of WhatsApp’s new privacy option will allow users to keep their profiles private from anyone who they do not want to have access to their information.
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