🎮 Razer is entering the web3 space with its new web3 fund

🎮 Razer is entering the web3 space with its new web3 fund 📈 a16z crypto launches a "state of crypto" index 👽 Reddit is launching 3rd generation of its NFT avatars

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Here's what recently happened in the space:

🎮 Razer is entering the web3 space with its new web3 fund 

    📈 a16z crypto launches a "state of crypto" index

   👽 Reddit is launching 3rd generation of its NFT avatars

Razer is entering the web3 space with its new web3 fund

Gaming tech company Razer (known for it's gaming peripherals mostly) is finally 'leveling up' by going into Web3 with its new investment fund. It's called zVentures Web3 Incubator or ZW3I and it'll be investing in early-stage Web3 gaming projects. The fund will focus on game devs that make games that are fun to play and have a sound roadmap.

The devs that this fund chooses to invest in will get sweet perks like access to Razer's marketing and partnership resources (and they're quite extensive), plus access to zVentures' Web3 partners, which include Animoca Brands and Griffin Gaming Partners (two leading gaming investment firms) as well as Amazon Web Services and more. Blockchain gaming is gaining new powerful allies! Who knows what exciting new projects will come out of this?

a16z crypto launches a "state of crypto" index

a16z crypto, the biggest crypto investor in the world, is aiming to bring transparency and clarity to the nascent market by launching its new "State of Crypto" index. The index aims to paint a more accurate picture of the market than what is typically provided by price charts alone.

The venture investor has backed numerous companies and projects such as dYdX, LazerZero and Dapper Labs, which it seeks to further support with the launch of this new index. The index factors in several parameters such as the number of active developers, mentions of crypto-related terms in academic research, and volumes across decentralized exchange venues. It does not include more traditional metrics such as price movements or market capitalization.

The price isn't the only indicator of health in a market, and a16z's index reflects that. While bitcoin's price has plummeted 55% from 2021 highs, the index dropped only 25%. And while the total number of transactions across blockchains declined 10% over the same period, active developers dropped by a whopping 25%. This highlights how much impact developer activity can have on an ecosystem, and why it is important to factor in when evaluating the health of a market.

Hopefully clear metrics such as this can lead to better decision making and help bring more people into the crypto space.

Reddit is launching 3rd generation of its NFT avatars

Reddit has recently announced the 3rd generation of its NFT collection avatars, and this time it looks like they've gone to the future! From Snoo aliens to Super Bowl-themed avatars and now futuristic realities, Reddit appears to be calling all sci-fi fans and creative minds alike to join in the fun.

The original collection came out in June 2022, and since then it has attracted over 7.3 million unique wallets from avid collectors around the world. But the latest collection is taking creative expression to a whole new level. With over 100 artists involved, it's said that this collection looks to push the boundaries of art and technology in equal measure.

Even though Reddit's decision to launch its NFTs was considered a bit of a surprise to some, the avatars have been highly sought after since their launch. As the dust settles on Gen 3, some have even begun to speculate that the avatars will be among the top-selling NFTs of the year.