Here are three web3 stories you need to know from this week.
Japanese messaging giant Line has raised $140MM for their Line Next NFT subsidiary. This is the largest web3 capital raise in Asia this year, and funds will be used to develop a social app powered by AI avatars as well blockchain games using Line’s popular IP. Story here.
Jito, a DeFi platform built on the Solana blockchain, has given out $225MM in its own token to Solana wallets. This strategy of giving away tokens has been successfully used by other Crypto startups to jumpstart activity. Story here.
Swan, a leading Bitcoin ecosystem startup, has raised an additional $40MM for growth. They will be launching further institutional products including Bitcoin-backer lending and expanding their asset management and custody offerings. Story here.
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