#Web3

The developers of the Web3 social network Friend.Tech transferred control over the project’s smart contract to Ethereum's null address, effectively freezing the platform. This move means no further updates or modifications can be made, and all future revenue will be burned.

On July 31, Telegram messenger announced an update that introduces several new features, including an integrated Web3 browser and a mini-app store.

American company Morgan Creek Digital plans to raise $500 million for its new Web3 Venture Capital Fund, which will focus on artificial intelligence, blockchain technologies, chip manufacturing, and data processing. This initiative is part of the firm’s strategy to expand its presence in Europe, Africa, and other regions, building on its already managed assets of over $440 million.

The "Hack3D: The Web3 Security Report," published by CertiK, a security company, reveals that blockchain projects experienced 184 security incidents in the second quarter of 2024, resulting in losses totaling $688 million. This marks a 37% increase from the previous quarter.

Manchester United announced the launch of Fantasy United, a Web3 game on the Tezos blockchain, along with a new series of digital cards featuring the club's first-team players.

Victor Ji, co-founder of Manta Network, has described the Polkadot ecosystem as toxic, accusing the team of inefficiency and a lack of genuine decentralization. He asserted that Polkadot adds no real value to Web3.

The popular metaverse project The Sandbox has announced its acquisition of several meme coins, including PEPE, SHIB, DOGE, and BONK. This move is aimed at bolstering the Web3 ecosystem and fostering a culture of creativity, essential elements in any metaverse.