Thursday, Apr 21st 2022
"You don't have to swing hard to hit a home run. If you got the timing, it'll go." —Yogi Berra
1) Goldman Sachs looks to lead crypto exchange FTX to IPO, with hopes of cementing long-term relationship. According to the FT, Goldman CEO David Solomon met with FTX founder Sam Bankman-Fried in the Caribbean in March, and offered help with regulatory approval. Goldman led a syndicate of banks that propelled Coinbase on Wall Street last April, and the IPO market remains hot, with valuations soaring and the crypto space accelerating its march into traditional financial services. At three years old, FTX is presently valued at a staggering $32B.
2) Softbank-backed Sandbox Metaverse gears up for a fresh funding round at $4B valuation, with “aggressive” expansion planned. The NFT gaming firm’s most recent round was its $93M Series B, led by SoftBank Vision 2 and others. The $400M that The Sandbox is seeking now would be used to grow new partnerships, acquisitions, and staff. Owned by Animoca Brands, The Sandbox is one of the earliest and largest Metaverse projects built on the ETH blockchain, and has already distinguished itself as a marketplace and entertainment platform with massive potential.
3) Crypto gaming continues to soar, with more than $2.5B raised from VCs and investors in Q1 alone—more than half the amount invested in crypto games in all of 2021. A recent DappRadar report suggests that as much as $10B in capital could flow towards crypto gaming this year, as blockchain gaming activity continues to skyrocket, with a 2000% increase compared to the same quarter a year ago. By the looks of it, 2022 will be a record-breaking year for crypto game developers, even in the face of growing challenges, hacks, and cyber threats.
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