Two new partnerships for NFT and Web3 confirm that technology companies are showing more interest in these sectors in the coming periods. Today, two more altcoin projects announced new partnerships and investors.
Important Web3 and NFT move from two altcoin projects
Fractal, the NFT platform developed by Twitch co-founder Justin Kan, has announced that it will expand to the Polygon (MATIC) network to increase accessibility. Polygon Labs will also make a “strategic investment” in Fractal, which aims to “build the future of gaming.”
Fractal was first launched on Solana in December 2021 and raised $35 million in a kickoff round backed by Andreessen Horowitz, Solana Labs, Animoca, Coinbase Ventures, and others. It now hosts dozens of Web3 games, NFTs, and tournaments on its site, and offers a range of developer tools to assist new creators.
cryptocoin.com Polygon (MATIC) has attracted a lot of attention in the Web3 space in recent months, with big brands such as Starbucks, Reddit, Nike and Meta using the network for their platforms. Reddit, for example, has printed nearly 8.5 million NFT Avatars on Polygon since last summer. Nike launched metaverse fashion at Polygon, while Starbucks created a loyalty program designed around NFTs.
As part of the new collaboration, Fractal tells Polygon in a press release that the expansion will help “focus on user acquisition and provide the necessary blockchain tools and financial infrastructure to foster successful game development.” The F Studio suite of products will now offer a Polygon-based launchpad, marketplace, tournaments, developer SDK, game launcher, and login with Fractal service.
QuickNode completes a $60 million funding round
In other investment news, blockchain development platform QuickNode has completed a $60 million funding round as part of a global expansion aimed at getting more users and developers into Web3 apps. QuickNode’s Series B funding, valued at $800 million, was led by venture capital firm 10T Fund, with participation from Tiger Global, Seven Seven Six and QED, the company announced on Jan.
QuickNode’s team says it will fund the global expansion of capital and facilitate the transition to Web3 “at scale”, which includes providing developers with the deployability needed to engage new Blockchain users.
QuickNode is a Web3 infrastructure platform that helps developers and businesses build, launch and scale Blockchain-powered applications (dApps). A lightning-fast global API provides instant access to 14+ networks including Ethereum, Solana, Polygon, BSC, and Avalanche.
According to reports, as of the third quarter of 2022, Web3 projects account for around 44% of Blockchain financing deals. The point to note here is that a universally agreed-upon definition of Web3 continues to be misleading. For now, the concept refers to some future iterations of the internet that are more decentralized, permissionless, and user-centric.
