๐Ÿ‘€ Worldcoin Update & Investment Highlights

๐ŸŽฃ w3.catch-of-the-week cw50

AuthorAuthor

Vicktoria Klich & Quinn Wilhelm
December 15, 2023

GMGM and welcome to the ๐ŸŽฃw3.catch-of-the-week, the newsletter that keeps you ahead of the game, showing who's scoring big in the Web3 field and who's stuck in the offside.

That we are seeing significant new capital inflows into the crypto and NFT sector, signaling a strong comeback, should no longer be a secret. FIFA is capitalizing on this momentum with a new NFT launch on Polygon. Recall that FIFA introduced Fifacollect+ NFTs on Algorand in 2022, which were initially met with a positive response until the community realized the limited variety of collectibles.

๐Ÿ‘‰ The Genesis collection comprised 100,000 packs, each pack costing $5 and including 3 collectibles, but there were only around 50 different collectibles in total.

Now Fifa has announced a new collection focussing on the 2026 World Cup, with 1000 digital collectibles split between the Algorand and Polygon blockchain. The new drop was advertised as giving owners of the first 100 NFTs the chance to secure a ticket for the 2026 World Cup final. However, the community remains skeptical ๐Ÿ‘‡.

Does this sound like a project with a future to you? How do you feel about it?

๏ฟฝ What is Sam Altmann eyeing at?
๐Ÿ’ธ The latest Investment of the w3.fund
๐Ÿ’ฐ VC Top-Picks of the week
โ™ป๏ธ Web3 Roundup: Pudgy Penguins, Reebok & Trump

Sam Altmann introduces World ID 2.0 ๐Ÿชช

While the tech world has been shaken up by Sam Altman's ChatGPT developments, his other major project, World Coin, has made significant progress. Quietly progressing in the background, this global cryptocurrency project has seen a surge in both collaboration and mainstream acceptance, alongside an uptick in its market value.

As we approach the end of 2023, the digital identity landscape is undergoing a significant transformation, particularly with the introduction of World ID 2.0. This innovative system is revolutionizing how we prove our humanity online while maintaining privacy.

What's New?

World ID 2.0 presents a leap forward in digital identity verification. It introduces three new levels of security, including Orb+ with facial authentication, ensuring enhanced security for crucial actions. Moreover, it offers the flexibility to reset your World ID at an Orb if it ever gets lost, bolstering security and user control.

New App Integrations

  • Reddit: Enhancing community interaction with secure and private access.

  • Discord: Facilitating secure and bot-free communication.

  • Shopify: Simplifying online store management and transactions.

  • Minecraft: Creating a more immersive, verified gaming experience.

  • Telegram: Offering private and efficient messaging using World ID.

Each integration aims to elevate the user experience on these platforms by leveraging the unique human verification feature of World ID.

Six Core Upgrades in World ID 2.0

One of the main criticisms leveled at World ID to date has been the security of personal data. In order to improve this, six new updates have now been introduced, which should not only make the World ID more user-friendly but also more secure.

Resetting the World ID: Users can reset their World ID at an Orb if it is lost or compromised. This process invalidates the old ID and allows a new one to be created without affecting the user's wallet.

Personal Custody: The World ID private key, which is stored locally on the user's device, is now paired with a verification package secured by end-to-end encryption, increasing both privacy and convenience.

Removal of Data Custody: With the introduction of Personal Custody, optional Data Custody will no longer be offered at the time of Orb visit. Users who wish to contribute to the security of the system can opt in later, allowing them flexibility and an informed decision.

Delete World ID verification: Users can delete their Orb-verified World ID directly in the app, which cancels verification and deletes all associated data.

Wallet Bridge: This new feature allows wallets to communicate more reliably with World ID apps and provides end-to-end encryption and full open-source access. Developers can run their own instances for more security and control.

Enhanced OIDC + OAuth support: With usability improvements, security upgrades and extended support for the OIDC standard, this upgrade is now also available for native apps, facilitating app-to-app connections and secure authentication with Auth Code Flow + PKCE.

What's Next?

Looking ahead, the rollout of World ID 2.0 will continue until early 2024. This incremental upgrade is designed to further integrate the system into our digital lives and provide a more secure, private and comprehensive online experience. With the further development of World ID 2.0, the Worldcoin team plans to redefine the standards for digital identity and the verification of people on the Internet.

๐Ÿฆ Pave Bank: Bridging the Gap Between Fiat and Digital Currencies

We at w3.fund are excited to share our recent investment in Pave Bank. Just out of stealth mode, Pave Bank is leading the way in โœจprogrammable moneyโœจ. With its recent launch, the company secured $5.2M in seed funding.

What Does Pave Bank Do?

As a bridge between traditional finance and digital assets, Pave Bank offers multi-currency operating accounts, global payment connectivity, and treasury management solutions. This innovative approach transforms money and value into a programmable operating system, allowing businesses to use the power of code for real-time automation and customization. It also provides multi-asset custody, virtual IBANs, and an efficient, low-cost network called PaveNet.

Why Pave Bank Stands Out

Pave Bank is the first fully regulated commercial bank that integrates traditional financial products with digital assets within a regulated environment. It emphasizes transparency, real-time transactions, and full-reserve banking.

Funding and Future Vision

The funding round, led by 468 Capital, will fuel Pave Bank's mission to transform global financial systems using blockchain technology. Pave Bank is poised to reshape banking by integrating programmable languages for money and assets, highlighting a new era in financial services.

๐Ÿ„๐Ÿฝโ€โ™€๏ธ Vickys Top Picks by Numbers

$140 Million

Line Next, a subsidiary of the Japanese messaging giant Line, has raised a notable $140 million for expanding its NFT and blockchain initiatives. This investment, led by Crescendo Equity Partners, is a significant move towards developing new Web3 services and enhancing global competitiveness in the blockchain sphere.

$13.5 Million

This is the amount Dynamic Labs has raised in a Series A funding round, led by a16z crypto and Founders Fund. This investment will advance their development of user-friendly, non-custodial wallet tools, incorporating technologies like FaceID and TouchID to streamline the web3 experience.

$11.88 Million

Animoca Brands has received $11.88 million to further develop its Mocaverse after recently closing a $20 million funding round. This additional funding, which was raised through the issuance of shares at A$4.50 each and participation from major investors such as OKX Ventures and Polygon Ventures, will enhance Mocaverse's points system and digital identity in the Web3 landscape. With a total funding of $31.88 million, Animoca Brands will enhance the experience in its metaverse by utilizing its extensive network of over 400 businesses and reaching over 700 million users.

๐ŸŒ Web3 Roundup: The Latest Headlines

As we reach the end of our newsletter, it's time for the grand finale! I've gathered three crisp and concise topics for you, ensuring you're fully up-to-date with the whirlwind of activities currently unfolding in the Web3 space.

Pudgy Penguins - Pudgy World ๐Ÿง

Pudgy Penguins is set to launch its Metaverse ecosystem, "Pudgy World" in early 2024, aiming to blend storytelling and gameplay in the Web3 space. Utilizing zkSync for Ethereum transactions, Pudgy World represents a significant step for blockchain experiences. Anticipating the release, the brand has already started engaging its community, teasing features like quests and social interactions. Moreover, physical Pudgy Penguins toys will further bridge the gap between the digital and physical worlds, allowing users to unlock digital characters in Pudgy World, promising a unique and immersive experience for fans.

Digital Fashion Reebok ๐Ÿค Futureverse

Reebok is joining forces with Futureverse to revolutionize fashion in the Metaverse with their upcoming project, "Reebok Impact." This collaboration will utilize AI and blockchain technologies to create unique virtual consumer experiences, focusing on interactive digital wearables.

๐Ÿคช Donald Trump goes Phygital

No sooner has liquidity returned to the market than Donald Trump is back with new NFTsโ€ฆDonald Trump's latest NFT venture, the "Mugshot Edition," turns his recent legal troubles into a unique collectible opportunity. These NFTs, available for $99 each, feature a mugshot from his August 24 arrest and a piece of his suit. Buyers stand a chance to win dinners with Trump.

w3.hub Community Breakfast with Celestia

Vicky & Marvin are Web3-obsessed. That's why they host a weekly podcast featuring updates and cool stuff.

Don't miss out on any news, updates, & vibes anymore. Discord is so yesterday. Let's meet on Telegram.

How do newsletters actually work in Web3? Find out for yourself.