Web3 News

Uniblock, a startup based in San Francisco and Toronto, is revolutionizing blockchain development by introducing its groundbreaking Unified Web3 API platform.

The company has secured a funding round of $2.3 million, with participation from Cadenza, Blockchain Founders Fund, Side Door Ventures, AQN, Serafund, Outsider Ventures, and others.

Uniblock’s aim is to become the go-to developer platform for blockchain companies. By integrating the best blockchain tools such as Alchemy, thirdweb, Moralis, Parsiq, Covalent, QuickNode, and many others into one easy-to-use platform, Uniblock seeks to unify this fragmented market.

This funding milestone will help Uniblock accelerate the development of its Unified Web3 API platform, which will integrate hundreds of top Web3 connections and endpoints into one tool, enabling faster and more scalable blockchain development.

Speaking about the investment, Managing Partner at Blockchain Founders Fund Aly Madhavji said, “Uniblock’s innovative approach to Web3 development holds the promise of transforming how blockchain products are built. We’re backing their mission to tackle this fragmented market with their easy-to-use Unified Web3 API platform. Their platform is a massive upgrade for any company that wants to build, manage, and maintain a Web3 product.”

Uniblock’s vision is to create a future where every company can effortlessly develop for blockchain and maintain their product using a unified platform. Thanks to Uniblock, that future is now a reality. Uniblock empowers Web3 developers by providing them with a single platform that grants access to all necessary Web3 tools.

Huawei Cloud recently made a significant move into the Web3 sector by announcing a suite of Web3-focused cloud services at the SUSTAINABLE WEB3 SG 2023 Summit, a key event jointly organized by Wanxiang Blockchain Labs and the Singapore University of Social Sciences.

The goal of these services is to enhance the accessibility, efficiency, and security of the Web3 infrastructure. The services offered include the Node Engine Service, confidential computing, and the InterPlanetary File System (IPFS). This move aligns with Huawei Cloud’s broader “Everything-as-a-Service” strategy and its commitment to distributed computing on a global scale.

Huawei Cloud offers several services to bolster the infrastructure of Web3, including the Node Engine Service, confidential computing, and the InterPlanetary File System (IPFS). These offerings are aimed at improving the accessibility, efficiency, and security of Web3.

Huawei Cloud’s entrance into Web3 is in line with its broader strategy of “Everything-as-a-Service” and its commitment to distributed computing on a global scale.

Huawei Cloud’s Web3 infrastructure is expected to provide fast and reliable blockchain services, as highlighted by the Managing Director of Huawei Cloud Singapore, Rex Lei, in his compelling keynote. Lei emphasized the company’s dedication to research and development and the potential impact of these technological advancements on the widespread adoption of Web3 technologies.

South Korean blockchain-based K-pop startup Modhaus has successfully raised $8 million in its series A funding round led by Sfermion, a U.S. venture capital firm.

The funding will help the company expand and introduce more blockchain-based use cases in the Korean entertainment industry.

According to a statement, the funding round also saw participation from renowned investors such as SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III, and Foresight Ventures.

Modhaus was established in December 2021 and has already formed a popular K-pop girl group called “tripleS.” The group has over 1.74 million subscribers on YouTube, and it was formed through Modhaus’ innovative NFT voting system. Fans can purchase NFT photo cards using Modhaus’ COSMO app, which counts as voting tokens.

“By collecting NFT-format photocards of their favorite idol members, fans receive utility tokens that enable them to participate in decisions related to group operations, such as the activities of members, title songs, album jacket photo shoots, and selecting the city for these activities,” Modhaus said in the statement.

According to CEO and co-founder of Modhaus Jaden Jeong, K-pop fans often have a keen eye for talent and trends. He aims to increase the value of artists by getting fans more involved.

Meanwhile, Simon Kim, CEO and Managing Partner of Hashed, which invested in and incubated Modhaus, believes that web3 will be the next game changer for the music industry, just as media and streaming have transformed it.

GD Kim, COO of UNOPND, a venture division of Hashed, told The Block that COSMO has sold nearly 1.2 million digital photo cards to almost 130,000 dedicated K-pop fans since its launch. Kim said that Modhaus has set an excellent example of how blockchain technology can be used to promote mass adoption in the entertainment industry.

SC Ventures, the investment arm of Standard Chartered, and Japanese financial conglomerate SBI Holdings have partnered to create a cryptocurrency vehicle worth $100 million in the UAE.

The joint venture aims to invest in various crypto sectors, including decentralized finance, tokenization, infrastructure, payments, and the metaverse, covering seed to Series C funding rounds with a global investment focus.

The crypto market shows signs of a potential bullish sentiment, with Bitcoin currently trading at around $36,800, reflecting a year-to-date gain of over 120%.

Considering the market dynamics, SC Ventures and SBI Holdings are positioning themselves strategically in the crypto space. Notably, spot crypto trading volume on centralized exchanges increased in October after a four-month decline. This could indicate renewed interest in crypto, possibly in anticipation of the approval of a spot Bitcoin exchange-traded fund (ETF) early next year.

SC Ventures and SBI Holdings’ joint venture plans to make strategic and minority investments in crypto startups. They will utilize SC Ventures’ expertise in digital assets, including experiences with ventures such as Zodia Custody and Zodia Markets and previous investments in fintech firms like Ripple and Metaco. It’s worth noting that SC Ventures sold its stake in Metaco in May after Ripple acquired the company for $250 million.

CEO of SC Ventures Alex Manson said: “The Joint Venture will leverage SC Ventures’ experience in digital assets through our ventures, such as Zodia Custody and Zodia Markets, and our investments in fintechs like Ripple and Metaco.”

SBI Holdings plans to launch a fund by the end of the year to invest up to 100 billion yen ($663 million) in web3, AI, and fintech startups. The fund will have the support of several major Japanese financial institutions, including Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and Daiwa Securities Group, who have pledged to invest over 50 billion yen in the fund.