Highlights of this issue

According to incomplete statistics from PANews, last week (November 4-10), there were 19 financing events in global blockchain, with a total funding scale exceeding $73 million, showing a decrease compared to the previous week. The overview is as follows:

In the DeFi sector, three financing events were announced, among which the RWA stablecoin protocol Usual announced the completion of $1.5 million in a new round of financing with Comfy Capital participating.

Two financing events in the Web3 gaming sector were announced, among which the Web3 chain game A-world announced the completion of $5 million in Series A financing, with IBGTG Capital participating.

Two financing events in the AI sector were announced, with AI startup Pond, focused on the cryptocurrency sector, raising $7.5 million in seed round financing, led by Archetype.

According to PANews, NFT sales experienced a significant increase this week, reaching $95.72 million, marking a 14.99% rise compared to the previous week. This uptick comes after several weeks of declining transaction volumes. However, the number of buyers saw a dramatic decrease of 90.21%, while the number of sellers dropped by 88.80%.Ethereum emerged as the leading blockchain for NFT sales over the past seven days, recording $31.14 million in sales, which represents a 13.25% increase. Following closely, Bitcoin-centric NFT sales secured the second position with $26.01 million. Solana ranked third, with sales amounting to $12.97 million from November 2 to November 9. Despite the overall growth in sales, the sharp decline in both buyers and sellers highlights a shifting dynamic in the NFT market.

In a recent breakthrough for the Web3 space, the Open Network (TON) has joined forces with Axelar and integrated with its Mobius Development Stack (MDS) for connectivity.  One of the goals of this affiliation is to enhance the usability of numerous blockchains and provide developers and users with a universal cross-chain interface. With this partnership, TON’s infrastructure and Axelar’s Interchain Amplifier technology will be positioned to unlock a new generation of decentralized applications, liquidity, and inter-chain activity.

Announcing TON x Axelar. Experience Web3 amplified like never before @ton_blockchain will integrate Axelar's Mobius Development Stack (MDS) as an interoperability layer, connecting the TON Ecosystem with new builders, users + liquidity pic.twitter.com/FNKySsCyxx

— Axelar Network (@axelar) October 17, 2024

A Powerful Collaboration

TON Blockchain, which has already integrated 950M Telegram users and has many application builders ecosystem, remains the industry leader in the Web3 market. Through Axelar, the blockchain will gain a programable, permissionless interoperability layer.  This integration will create safe entry points for users and developers and link assets and applications together across multiple blockchain protocols, like Cosmos, EVM, and Polkadot, in the future, as well as others, including Solana, Sui, etc.

Axelar MDS: The Key to Seamless UX and Scalability

At the centre of such integration is Axelar’s MDS, through which multiple-chain UX can be achieved seamlessly.  The MDS will act as the base layer for TON’s interoperability as a framework for adding and connecting dApps without compromising speed or security. MDS enables optimizations, combats liquidity fragmentation, and allows users to engage with the Web3 world.

Anthony Tsivarev, who is Director of Ecosystem Development at TON Foundation, said,

“MDS is an ideal choice for the interoperability layer. It’s open, developer-friendly, and aligned with TON’s focus on fast, decentralized networks.”

Interchain Amplifier: A Key Enabler

Axelar is integrated with its Interchain Amplifier, a robust technology that helps enable smooth cross-chain interaction. Interchain Amplifier makes liquidity and assets portable from one blockchain to another and enhances the efficiency of executing cross-chain transactions, eliminating the challenges traditionally associated with cross-chain transactions.

A Growing Web3 Ecosystem

With the growing number of TON developers, the partnership with Axelar is a true revolution. MDS is a developer-first solution for a secure cross-chain interoperability solution with a user-friendly cross-chain experience.  This especially benefits TON-based platforms like Mini Apps, Community Tokens, and others. It will also help increase the liquidity and use of Toncoin since people can navigate between different ecosystems using the assets freely. As Web3 advances, the partnership between TON and Axelar will be seen as one of the most significant steps toward interoperability, scalability, and liquidity. With the incorporation of Axelar MDS, TON is ready to provide millions of users and a rapidly expanding developer base with a profound and universal cross-chain platform that adheres to a fully decentralized and interconnected blockchain future.