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Andreessen Horowitz (A16z) is launching a new fund that will exclusively invest in the gaming and metaverse industries. The new $600 million fund is comprised of a pool of dedicated cash and a new internal structure aimed at locating acquisitions inside the gaming vertical.
The fund, which aspires to establish the future of the gaming industry, intends to support many businesses and initiatives in a variety of fields, such as gaming studios, the intersection of gaming and consumers, and infrastructure.
Games Fund One is the name of the fund, and the funds will be invested in three primary areas: game studios, consumer applications that promote player communities, such as Discord, and gaming infrastructure providers.

Citi estimates that the metaverse economy's overall market value will hit $13 billion by 2030 (RaillyNews).
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A16z Forays Into $300 Billion Video Game Market
Games Fund One is the company’s first fund dedicated only to the gaming industry. The injection of new funding will enable Andreessen Horowitz to expand its presence in the more than $300 billion global video gaming business.
“On the long run, we believe that gaming infrastructure and technology will be essential components of the metaverse,” A16z said.
“As games expand into virtual worlds and online services, the demand for the tools and services required to create excellent games is soaring,” A16z added.
Among the fund’s backers are a variety of gaming industry professionals, including co-founders of King, Roblox, Discord, Twitch, Blizzard, Riot Games and Zynga.
The establishment of the games vertical comes as another of its bets, Facebook (now Meta), brags loudly about gaming’s metaverse-related prospects.
BTC total market cap at $560 billion on the weekend chart | Source: TradingView.com
Gaming Giants Boost The Metaverse
Massive sums are contributed by gaming industry titans to Metaverse endeavors. The developer of the popular Fortnite game, Epic Games, raised $2 billion last month from Sony and LEGO to create a metaverse.
The A16z team highlighted the billions of dollars in revenue that games like Minecraft produce, citing the open-world game as an example of a title that has maintained a long-lasting active community that acts more like a social network.
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Horowitz has placed a wager on upcoming technologies such as web 3, quick games, and VR/AR. All of this has strengthened its conviction that games demand a specialized focus, not just in terms of devoted investment money, but also in terms of operational expertise that is as unique and innovative as the games business itself.
Several parties are already investing heavily in the metaverse concept, and Citi estimates that the metaverse economy’s overall market might reach $13 billion by 2030, drawing more than 5 billion individuals.
Featured image from CNBC, chart from TradingView.com


Andreessen Horowitz (A16z) is launching a new fund that will exclusively invest in the gaming and metaverse industries. The new $600 million fund is comprised of a pool of dedicated cash and a new internal structure aimed at locating acquisitions inside the gaming vertical. The fund, which aspire...

bitcoinist.com

A16z Rolls Out $600 Million Gaming, Web3 And Metaverse Dedicated Fund

More than 5,505 Ether of the Ronin Bridge exploitation seems to be transferred through Tornado Cash, a unique privacy crypto exchange.
Blockchain data showed that the address associated with the $625 million Ronin Bridge Attack had begun transferring ether tokens valued at over $10 million. This occurred during the Asian morning hours.
The data showed that the Ronin hacker had transferred over 5,505 ether to one unknown account this morning. Additionally, the funds were sent from another Ethereum wallet funded by the prominent hacker’s blockchain address. All these took place within the early hours of Wednesday, as the funds were sent in groups of 100 ether each to the Tornado privacy crypto exchange.
The Ronin Bridge Ether Exploit
Ronin Bridge is an Ethereum-based sidechain for the play-to-earn game Axie Infinity, an NFT game. It was created by Sky Mavis and is running both Ronin Bridge and Axie Infinity.
Related Reading | Bitcoin Market Plunges Into Extreme Fear, How Scary Does It Get?
On March 23, cybercriminals exploited The Ronin Bridge Network, and the hackers looted over $625 million worth of assets. The assets comprise 25.5 million USDC and over 173,600 ether. A report on their blog revealed this data. The platform realized the attack when one of its users couldn’t withdraw 5,000 Ether from the Ronin Network.
 Ethereum falls below 2k | Source: TradingView
Then, they took to Twitter to notify the public of the security breach on the platform. After the hack, the Ronin Bridge temporarily shut down to redevelop the platform. Moreover, even though attackers targeted the hack at Ronin and Axie Infinity, the incident didn’t affect the ‘axie’ tokens. Therefore, the AXS and SLP tokens used to facilitate transactions within the Axie Infinity game are still safe and unaffected.
Blockchain Data Reveals Ongoing Ether Fund Transfer
Within the early hours of Wednesday, Etherscan, a blockchain tracking platform, revealed that the attackers made about 55 transactions from an address funded by the principal looter. Currently, the wallet holds 3.45 ether, summing to $6,885.84.
 (Image Source: EtherScan)
This step followed the massive selling of looted ether in April when the looters transferred over 21,000 ether via various transfers to the Tornado exchange. The transaction was worth over $65 million then.
Tornado Privacy Crypto Exchange
Tornado crypto exchange is an advanced crypto exchange that tweaks and breaks through the on-chain for a destination and source address. Thus, enabling hackers to hide their addresses while illegally withdrawing looted funds.
The United States Trace the Looting to North Korean Hackers
The United States official had previously traced the looter’s address to the “Lazarus” group, an infamous group of hackers sponsored by the North Korean supreme leader Kim Kuk-song. Also, Chainalysis, the blockchain tracking platform, traced and confirmed the transaction between the North Korean Cybercriminal group.
Related Reading | New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate
In a thread on Twitter, the platform even provided proof of the Lazarus group being behind the March exploitation.
Sky Mavis Accrues $150 Million In A Funding Round to Regain Ronin Bridge
Sky Mavis, the Ronin Bridge, and the Axie Infinity platform raised over $150 million following the massive attack and exploitation. This effort was to regain the Ronin Bridge platform after the previous hit.
Among the list of supporters was the world’s biggest cryptocurrency exchange Binance, alongside other crypto entities.


Featured image from Pexels, charts from EtherScan and TradingView.com




More than 5,505 Ether of the Ronin Bridge exploitation seems to be transferred through Tornado Cash, a unique privacy crypto exchange. Blockchain data showed that the address associated with the $625 million Ronin Bridge Attack had begun transferring ether tokens valued at over $10 million. This ...

newsbtc.com

Blockchain Data Indicates $10M Worth Of Ether From The Ronin Exploit In Rotation

[PRESS RELEASE – Sheridan, United States, 17th May, 2022]
Cash management company announces roadmap to build cutting-edge multichain treasury infrastructure for Web3
Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, announced its $15 million series A funding round and its roadmap for building a novel full-service treasury management solution in the industry.
The series A funding round is led by Tiger Global and joined by Sequoia Capital India, Ryan Hoover (Founder of Product Hunt and the Weekend Fund), Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios, Volt Capital and 300 and more angels and operators in crypto and fintech.
Coinshift has undergone rapid growth since its launch in June 2021, managing more than 1000 safes, $1.3 billion in assets, and $80 million in payouts for organizations like Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol, Balancer and many others.
Coinshift Founder and Chief Executive Officer Tarun Gupta, commented, “Today, a new chapter of the Coinshift journey begins. We are unveiling a glimpse into our platform’s second version, through which we share our vision to build the most sophisticated multichain treasury infrastructure for Web3. The fact that our investors have returned to participate in a series A funding round is a testimony to the quality of our platform and the timely solution we offer to fill the current needs in the market.”
Coinshift’s version 2 was built and designed in close collaboration with the industry’s leading Decentralized Autonomous Organizations (DAOs). Coinshift’s version 2 will allow users to manage multiple Gnosis Safes for multiple chains under one organization to enable significant time saving and transparency in treasury operations. The major architectural change between Coinshift version 1 and Coinshift version 2 is that users can add multiple safes to a single organization across multiple chains, whereas in version 1, one safe address was tied to one organization, in Coinshift’s feature-rich version 2 architecture, treasury managers and sub-DAO committees will be able to efficiently consolidate all their safes across networks and seamlessly visualize overall treasury balances. In addition, users will have global access to payees, labels, budgets, reporting, and advanced access level control between safes.
“With Coinshift’s version 1, our team has done an incredible job of building a sophisticated mass payouts platform. With our version 2, we are taking a massive leap forward to enable DAOs of any size, to manage their treasury. But we’re just getting started, and we are excited for the opportunity that lies ahead as we work toward building the most sophisticated next-generation cryptocurrency treasury management platform.”
Investor Quotes
Tiger Global: ​​“We’ve been impressed by the pace of product development at Coinshift since we met Tarun and the team. It’s clear there is a huge need for crypto native treasury management and payments, and we are excited to back Coinshift as they roll out the next iteration of the platform,” said Alex Cook, Partner, Tiger Global.”
Alameda Ventures: “Excited to observe Coinshift leading the infrastructures to bring simple, flexible, and efficient DAO/treasury management tool into a wider audience.” said Adam, partner, Alameda Ventures.
Notable individual investors include:

Ryan Hoover (Founder of Product Hunt and the Weekend Fund)
Sandeep Nailwal — Co-Founder and COO, Polygon
Shiva Rajaraman — VP at Opensea
Prabhakar Reddy — Founder of FalconX
Scott Belsky — CPO Adobe and Founder of Behance
Lenny Rachitsky — Previously Product Manager, Airbnb
Utsav Somani — Founder at Iseed and Head of Angelist India
Shaan Puri — Previously Director of Product, Twitch

About Coinshift
Coinshift is leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, general financing, and overall risk. Coinshift provides a single and easy-to-use solution that facilitates and manages treasury operations in an efficient manner. Coinshift is built on the Gnosis Safe, allowing clients to utilize its core pay-out features to manage payments, engage in collaborative multi-signature transactions, and save up to 90 percent on gas fees. We extend Gnosis Safe functionality with additional reporting features, on Ethereum and Polygon, allowing users to save time and reduce operational and gas costs.


[PRESS RELEASE &#8211; Sheridan, United States, 17th May, 2022] Cash management company announces roadmap to build cutting-edge multichain treasury infrastructure for Web3 Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash res...

cryptopotato.com

Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda


May 17, 2022 – Sheridan, United States


Cash management company announces roadmap to build cutting-edge multi-chain treasury infrastructure for Web 3.0.

Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, announced its $15 million Series A funding round and its roadmap for building a novel full-service treasury management solution in the industry.
The Series A funding round is led by Tiger Global and joined by Sequoia Capital India, founder of Product Hunt and the Weekend Fund Ryan Hoover, Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash Key Capital, Quiet Capital, Polygon Studios, Volt Capital and over 300 more angels and operators in crypto and fintech.
Coinshift has undergone rapid growth since its launch in June 2021, managing more than 1,000 safes, $1.3 billion in assets and $80 million in payouts for organizations like Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol, Balancer and many others.
Tarun Gupta, founder and chief executive officer of Coinshift, said,
“Today a new chapter of the Coinshift journey begins. We are unveiling a glimpse into our platform’s second version, through which we share our vision to build the most sophisticated multi-chain treasury infrastructure for Web 3.0. The fact that our investors have returned to participate in a Series A funding round is a testimony to the quality of our platform and the timely solution we offer to fill the current needs in the market.”
Coinshift’s version two was built and designed in close collaboration with the industry’s leading decentralized autonomous organizations (DAOs). Coinshift’s version two will allow users to manage multiple Gnosis Safes for multiple chains under one organization to enable significant time-saving and transparency in treasury operations.
The major architectural change between Coinshift version one and Coinshift version two is that users can add multiple safes to a single organization across multiple chains. Whereas in version one, one safe address was tied to one organization – in Coinshift’s feature-rich version two architecture, treasury managers and sub-DAO committees will be able to efficiently consolidate all their safes across networks and seamlessly visualize overall treasury balances. In addition, users will have global access to payees, labels, budgets, reporting and advanced access level control between safes.
Gupta added,
“With Coinshift’s version one, our team has done an incredible job of building a sophisticated mass payouts platform. With our version two, we are taking a massive leap forward to enable DAOs of any size to manage their treasury. But we’re just getting started, and we are excited for the opportunity that lies ahead as we work toward building the most sophisticated next-generation cryptocurrency treasury management platform.”
Investor Quotes
Alex Cook, partner at Tiger Global, said,
“We’ve been impressed by the pace of product development at Coinshift since we met Tarun and the team. It’s clear there is a huge need for crypto native treasury management and payments, and we are excited to back Coinshift as they roll out the next iteration of the platform.”
Adam, partner at Alameda Ventures, said,
“Excited to observe Coinshift leading the infrastructures to bring [a] simple, flexible and efficient DAO/treasury management tool into a wider audience.”
Notable individual investors include the following.

Ryan Hoover, founder of Product Hunt and the Weekend Fund
Sandeep Nailwal, co-founder and COO of Polygon
Shiva Rajaraman, vice president of Opensea
Prabhakar Reddy, founder of FalconX
Scott Belsky, CPO of Adobe and founder of Behance
Lenny Rachitsky, previously product manager of Airbnb
Utsav Somani, founder at Iseed and head of Angelist India
Shaan Puri, previously director of product at Twitch

About Coinshift
Coinshift is a leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, general financing and overall risk. Coinshift provides a single and easy-to-use solution that facilitates and manages treasury operations in an efficient manner.
Coinshift is built on the Gnosis Safe, allowing clients to utilize its core payout features to manage payments, engage in collaborative multi-signature transactions and save up to 90 percent on gas fees. We extend Gnosis Safe functionality with additional reporting features, on Ethereum and Polygon, allowing users to save time and reduce operational and gas costs.
Contact
Tarun Gupta, CEO of Coinshift
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures appeared first on The Daily Hodl.


May 17, 2022 – Sheridan, United States Cash management company announces roadmap to build cutting-edge multi-chain treasury infrastructure for Web 3.0. Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, announced its...

dailyhodl.com

Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures

[PRESS RELEASE – Please Read Disclaimer]
With the establishment of bitcoin – a decentralized electronic peer-to-peer cash system that outgrew its initial purpose and became a global phenomenon – many people outlined plans to decentralize various other niches. Somewhat expectedly, the financial industry has been among the most talked-about, given its centralization that has embodied it for centuries.
As such, the word “decentralized” began popping up left and right, but very few projects have actually managed to reach the whole meaning of it when it comes down to their product. Coinlocally, a crypto exchange with fiat to crypto on/off ramps, has set out its plans on how to tackle this as it ultimately wants to be a decentralized bank.
To do so, the company has signed multiple notable partnerships, including with the digital asset giant Binance and Mercuryo.
Coinlocally, Binance, Mercuryo, and More
Perhaps the most talked-about partnership that came in recent months was with the Changpeng Zhao-led crypto exchange – Binance. Being the world’s largest digital asset platform, Binance has provided Coinlocally with the infrastructure needed to have its own crypto Futures platform with 125X leverage. Consequently, Coinlocally will operate as a Binance Exchange Broker.
The company’s aforementioned on/off ramps for crypto and fiat will also be supported by Binance. The team behind Coinlocally promised that Binance will soon provide most of its fiat pairs.
Speaking of the company’s crypto and fiat products, it’s worth mentioning Mercuryo – the entity that made possible the additions of multiple fiat currencies to Coinlocally’s platform, including USD, GBR, RUB, EUR, and others.
Following its roadmap closely, the team also informed that its spot and futures trading platforms are already available for users of both Android and iOS and can be downloaded from the respective online store. Separately, they will be available on Coinlocally’s website too soon.
About Coinlocally
Built as a cryptocurrency exchange, the company has grown to become a global hotspot for users aiming to enter the digital asset ecosystem. With iOS and Android applications available for both its spot and futures trading platforms, Coinlocally enables users to apply their trading skills, engage with advertisements, and look for the payment method they prefer.


[PRESS RELEASE &#8211; Please Read Disclaimer] With the establishment of bitcoin – a decentralized electronic peer-to-peer cash system that outgrew its initial purpose and became a global phenomenon – many people outlined plans to decentralize various other niches. Somewhat expectedly, the financ...

Bitcoin Cash price	$194.85
Low - High 24H	$190.70 - $195.68
Market cap	$3.72B
Volume 24H	$719.85M
All time high	$3,785.82 -94.87% December 20th 2017
All time low	$76.93 152.50% December 16th 2018
Genesis date	N/A

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