Uncovered Gems From the Top 3 Web3 Investors – Part 4

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Uncovered Gems From the Top 3 Web3 Investors – Part 4

With the bull market looming, it’s the opportune moment to beef up our portfolios. Wondering where to invest and which platforms need your close attention? Don’t worry, AltcoinBuzz got your back!

Let’s dive into the third segment of our four-part series on Web3 investors and their hidden gems!

Gems # – Wildcard

The first gem in our lineup is an upcoming Polygon Game, Wildcard. Positioned as a player-versus-player arena game in its alpha stage, Wildcard ingeniously blends elements from card games, multiplayer online battle arenas (MOBAs), and auto battles.

Uncovered Gems From the Top 3 Web3 Investors – Part 4Notably, Playful Studios, the brains behind Wildcard, secured an impressive $46 million in funding in June 2022. Wildcard prioritizes ease of access, user-friendliness, and entertainment.

Moreover, the game is crafted for players and engineered for spectator enjoyment. This unique approach enables competitors to engage directly with their in-game fans and supporters.

Renowned video game creator, Paul Bettner, has dedicated over five years to developing this Web3 game. Paul is the co-creator of the mobile gaming sensation Words With Friends and a key contributor to the classic Age of Empires franchise.

On top of that, Wildcard offers a player-versus-player (PvP) experience enriched with virtual NFT cards. Real-time strategy (RTS) elements and Web3 integration happen through the scaling network Polygon.

To enhance the experience, Wildcard has introduced the Wildpass, an NFT membership pass promising holders exclusive access to the expansive Wildcard universe. Additionally, the introduction of the soul-bound NFT titled WildFile immortalizes your participation in the Wildcard ecosystem.

With the brilliant mind of Paul Bettner at the helm and the potential for Wildcard to redefine the gaming landscape, this gem is undoubtedly one to watch closely.

Gem #2 – Showtime

The second gem on our roster is Showtime. It is a groundbreaking platform seeking to revolutionize the NFT landscape by introducing a social layer. Also, it is positioned as a protocol redefining social interactions in digital assets, particularly within the domain of crypto art.

To overcome the challenges existing walled garden models present, Showtime emphasizes the importance of an open social graph.

Moreover, the team recognizes the complexities of user onboarding without relying on established social media giants and explores innovative solutions, including social logins and Ethereum address integration.

Showtime’s team comprises individuals with expertise spanning NFTs, DeFi, and blockchain. Notably, Paradigm, a renowned fund focusing on DeFi, has invested in Showtime’s $7.6 million seed round alongside other venture capitals.

The platform debuted in March 2021, swiftly evolving into a social media network tailored for digital artists, creators, and collectors. Also, Showtime introduced a news feed in April 2021. This feed lets users browse digital art, follow new collectors and creators, and share publications.

Recently, Showtime rolled out Creator Tokens, allowing fans to purchase tokens to unlock a creator’s channel for exclusive content, chat features, and more. The tokens come with additional perks, extending beyond the Showtime platform, including

  • The ability to create a custom website on Bonfire.xyz.
  • Offer early bird ticket access through TicketMaster.
  • Exclusive merch or store discounts through Shopify.

This evolving gem is certainly one to keep a close watch on!

Gem #3 – MoonPay

Securing the third spot on our Web3 gems list is a familiar name – MoonPay. With a staggering 5 million customers spanning 160+ countries, MoonPay has emerged as one of the go-to solutions in the crypto trading landscape.

Chances are, you’ve already interfaced with MoonPay’s services through its extensive network of exchange and wallet partners, perhaps without even realizing it.

Despite its relatively recent establishment in 2019, MoonPay has rapidly expanded into a global crypto trading and payment platform, amassing a considerable $650.7 million in funding over eight rounds, according to Crunchbase data.

Undoubtedly, MoonPay’s meteoric rise is due to its emphasis on user-friendly experiences. The platform boasts.

  • A straightforward trading process.
  • A plethora of payment options.
  • Fiat support.
  • A feature-rich mobile app.
  • Access to over 50 different cryptocurrencies.

Besides, while MoonPay caters to individual investors, its primary business line lies in the business-to-business (B2B) realm. Functioning as a crypto on-ramp and off-ramp for numerous partners, MoonPay is the technology that facilitates the buying and selling of crypto.

Furthermore, the platform, trusted by over 300 leading wallets, websites, and applications, plays a pivotal role in processing payments and combating fraud within the crypto space.

Despite a notable incident in 2020 that implicated MoonPay in a hack of IOTA due to technical vulnerabilities, MoonPay itself has remained secure. As such, users can leverage MoonPay for buying and selling crypto while opting for third-party wallets like Ledger or Trezor to manage private keys and enhance security.

Keep a watchful eye on MoonPay as it continues to shape the landscape of crypto trading and payments.

Gem #4 – Sky Mavis

Securing the fourth spot on our list is also a gem you’re likely familiar with – Sky Mavis. This gaming industry powerhouse is the driving force behind the Axie Infinity Series, Ronin Blockchain, Mavis Market, and Mavis Hub. Their diverse gaming portfolio boasts titles such as Axie Infinity: Origins, Axie Infinity: Homeland, Axie Classic, and Project T Prototype.

In October 2021, Sky Mavis made headlines with a remarkable fundraising feat, securing an impressive $152 million. This substantial backing catapulted Sky Mavis to a valuation of $3 billion, firmly establishing it as a major player in the industry.

Axie Infinity made its market debut in 2019, introducing its first battle system in the alpha phase in December of the same year. The timing coincided with the global COVID-19 pandemic, allowing individuals to earn income through mobile gaming during economic uncertainty and lockdowns. Despite amassing a substantial player base, challenges surfaced due to slow and unrewarding gameplay, particularly as players became aware of the payout structure.

The Collapse

The Ronin Network experienced a security breach in March 2022, resulting in the theft of 173,600 ether and approximately $25.5 million in USDC. The stolen tokens, valued at around $620 million, prompted many players to leave Axie as their profits were wiped out.

Responding promptly, Sky Mavis announced a $150 million funding round in April 2022, just a week after the hack. Despite refilling the Ronin Network bridge and reimbursing users from its balance sheet, the funding round only raised $11 million, leading to a decrease in Sky Mavis’ valuation from $3 billion to $1.95 billion.

Adapting to challenges during the crypto winter and the hacking scandal, Sky Mavis introduced a new version of Axie Infinity based on the traditional microtransaction model. Axie Infinity: Origins emerged as a free-to-play game without crypto involvement, relying solely on microtransactions, benefiting developers while requiring original Axie Infinity players to transition.

The Rebound

Despite setbacks, Axie Infinity rebounded from a $625 million hack, implementing substantial overhauls to Ronin’s core systems in March 2023 for enhanced decentralization and security. The company also forged partnerships with game development studios like Tribes Studio, Bali Games, Directive Games, and Bowled.io, expanding the Axie Infinity universe and allowing select games to leverage the Axie IP.

Undeterred by challenges, Sky Mavis persists in building and innovating, even in the demanding landscape of the crypto winter. In August 2023, the company unveiled a prototype of Project T, a promising addition to the Axie gaming realm.

Undoubtedly, this gem is worth keeping a close eye on.

Gem #5 – Utopia Labs

The fifth gem on our list is Utopia Labs, though there’s a twist to the story.  Developed in secrecy in 2013 and officially launched in November 2019, Utopia is a crypto payment and stablecoin on-ramp/off-ramp. Its primary value proposition revolves around streamlining on-chain funds to off-chain counterparts, catering to various use cases.

From companies aiming to compensate employees in digital assets to venture capital funds sending USDC to portfolio companies, Utopia Labs positioned itself as a versatile solution.

Built on Safe, a decentralized custody and asset management system rooted in Ethereum, Utopia also collaborated with Bridge, a platform aiding developers in transitioning between various dollar denominations, including stablecoins, to facilitate its financial transfers. Notably, the platform secured $23 million in a Series A Financing led by Paradigm in June 2022.

Issues

Now, here’s the catch. Utopia Labs has announced the wind-down of its product, effective November 6, 2023, as communicated by CEO Kaito Cunningham on October 2, 2023. This revelation comes approximately 16 months after Utopia raised $23 million.

While the team commits to addressing support inquiries via Intercom, they have ceased bug rectifications by the engineering team. The product will remain operational until the end of the month, after which the platform will terminate all services. Besides, Utopia Labs also provides users with the means to export their payment and bookkeeping data.

Fortunately, this development doesn’t signal a complete shutdown of Utopia Labs. Rather, it signifies a pivot away from the existing product and its current directional focus.

Despite this setback, CEO Kaito remains optimistic about web3 and anticipates revealing Utopia’s new direction in the coming months. In a subsequent announcement on October 20, the CEO indicated that their next product will continue to support the on-ramp/off-ramp workflow.

Keep a close eye on this platform to see where they will head next.

Gem #6 – Zerion

The final gem on our list is Zerion. It is a non-custodial DeFi interface that allows users to monitor and manage their DeFi portfolios effortlessly. Moreover, by enabling wallet connectivity to DEXs like Uniswap and Kyber Network, Zerion lets users execute asset trades directly from their Zerion wallet.

Beyond its wallet capabilities, Zerion extends access to various DeFi tools. These encompass lending and borrowing protocols such as Compound and Aave and opportunities for yield farming through liquidity pools on decentralized exchanges.

With support for 10+ networks and integration with 500+ protocols, Zerion has garnered over 220,000 monthly active users and processed a substantial $1.2 billion transaction volume. Besides, the Zerion Wallet extends its reach to mobile platforms, offering a user-friendly app for iOS and Android devices, allowing individuals to manage their digital assets on the go.

Pros

Unsurprisingly, Zerion, boasting over four years of market experience without any major security breaches, has swiftly risen to prominence as one of the most favored DeFi interfaces on the web.

Following an $8.2 million Series A funding round in July 2021, Zerion continued its momentum by securing $12 million in a Series B funding round in October 2022. Post these funding injections; the Zerion team diligently worked towards transforming their product into the primary interface for Web3.

This transformation involved simplifying the assessment of NFT values, facilitating blockchain network bridging, and enabling investments in diverse protocols. Recognizing these achievements, Zerion was acknowledged as one of the 50 most promising startups in 2022 by The Information.

Adding a unique touch to its offerings, Zerion presents the Zerion DNA NFT. This living NFT evolves in tandem with your exploration of Web3, with every wallet action influencing your DNA. This distinctive feature lets users showcase their on-chain identity—a delightful and interactive aspect. These gems will be a good addition to your watchlist and later portfolio.

Amid the burgeoning growth of the DeFi ecosystem, Zerion’s unified portfolio asset management interface emerges as a potent tool for consolidating investments and engagements in one location.

Undoubtedly, Zerion, with its continuous evolution and innovative features, is one of the gems worth keeping a sharp eye on.

Conclusion

From the spectator sport innovation of Wildcard, the social revolution envisioned by Showtime, and the rise and pivot of Utopia Labs to the enduring success and adaptability of Sky Mavis, MoonPay’s facilitation of crypto transactions, and Zerion’s powerful DeFi interface, each gem holds a unique story within the ever-expanding Web3 landscape.

Keep a watchful eye on these gems, for they are not just investments; they are glimpses into the evolving narrative of Web3. Stay tuned for the final part of the series!

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Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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