Microsoft enters the metaverse, January 14-20

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This week’s Crypto Biz explores Microsoft’s purchase of Activision, the new partnership between Coinbase and Mastercard, and the latest funding news from the crypto world. For a full breakdown of business developments over the past week, sign up for the full newsletter below.

Microsoft enters the Metaverse with the purchase of Activision

It’s no secret that Microsoft has been considering entering the Metaverse ever since Zuckerberg renamed Facebook to Meta. The company found its perfect entry this week by acquiring gaming giant Activision Blizzard for $68.7 billion. Satya Nadella, CEO of Microsoft since 2014, described video games as playing a “key role in the development of metaverse platforms”. Activision is behind some of the world’s most iconic gaming franchises, including Call of Duty, World of Warcraft and Tony Hawk’s Pro Skater.

With @ATVI_AB, we will usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to everyone. https://t.co/fF2Ig3gSfx

— Satya Nadella (@satyanadella) January 18, 2022 Coinbase partners with Mastercard around NFT purchases

Crypto is not new to Mastercard. As Cointelegraph reported, the credit card giant launched crypto-related credit cards in the Asia-Pacific region in November 2021. Now, the company is partnering with Coinbase to allow users to purchase non-fungible tokens using their credit cards. The partnership revolves around Coinbase’s future non-fungible token (NFT) marketplace and allows users to purchase digital collectibles without having to create a crypto wallet or hold Ether (ETH). Strengthening payment gateways to the crypto industry is seen as vital to driving mainstream adoption.

Intel to Unveil New Power-Efficient Bitcoin Mining ASIC

Semiconductor giant Intel plans to unveil a new energy-efficient Bitcoin (BTC) mining ASIC at the upcoming IEEE International Conference on Semiconductor Circuits in February. The new ASIC, called the Bonanza Mine, is based on a patent filed by Intel in November 2018. The technology behind the Bonanza Mine could reduce overall power consumption by around 15%. For reference: Intel is a Dow 30 company. Its potential foray into the Bitcoin mining industry could become one of the biggest stories of 2022.

BREAKING – Intel says #Bitcoin mining market could grow by $2.8 billion in just 3 years pic.twitter.com/BaTo0hsRSf

— Bitcoin Magazine (@BitcoinMagazine) January 20, 2022 Animoca brands valued at $5 billion after $358 million raise

The biggest funding news of the week centered around Animoca Brands, an NFT-focused software game and venture capital firm that recently raised over $358 million. The funding round, which catapulted Animoca to a $5 billion valuation, was backed by Liberty City Ventures, 10T Holdings, Gemini Frontier Fund, ParaFi Capital, Provident, Sequoia China and Winklevoss Capital, among others. Animoca said its ultimate vision is to protect users’ digital property rights in the Metaverse using NFTs.

Related: Meta Reportedly Intends to Embed NFTs on Facebook and Instagram Profiles

Crypto IRA iTrustCapital valued at $1.3 billion

Speaking of major funding announcements, crypto-focused 401(k) provider iTrustCapital closed a $125 million Series A growth round led by Left Lane Capital. The company said it plans to use the cash injection to expand existing product offerings as well as explore strategic acquisitions. iTrustCapital’s value proposition is that it provides tax-advantaged exposure to cryptocurrencies such as Bitcoin and Ether through government-approved retirement accounts. This means you can invest in crypto while keeping Uncle Sam happy.

There’s a new metaverse player in town. Microsoft, the world’s second-largest company by market capitalization, announced earlier this week that it has acquired Activision Blizzard for $95.00 per share in a deal expected to close sometime this week. 2023. Microsoft will use the gaming giant to pivot to virtual worlds. metaverse environment.

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