WAO ART #332

Bitfinity, a web3 infrastructure company, has raised $7 mln from Polychain Capital and ParaFi to create a Bitcoin sidechain on the Internet Computer. The sidechain, called Bitfinity EVM, will have a fully decentralized stack backed by Solidity and will be 100 times faster than Ethereum's mainnet.

The co-founder of The Sandbox predicts a boom in Web3 gaming in 2024. He highlights the upcoming launches of games like Shrapnel, Star Atlas, and My Pet Hooligan as exciting developments. The trend of Web3 games focusing on educating and rewarding players for their skills is also noted.

India's Web3 industry is hoping for a "level playing field," clearer regulations, and dedicated funds for indigenous blockchain projects in the upcoming Union Budget. The industry is seeking a reduction in the 1% tax deducted at source (TDS) on virtual digital asset (VDA) trades.

The US Securities and Exchange Commission (SEC) has approved the first Bitcoin exchange-traded funds (ETFs), allowing investors indirect exposure to the cryptocurrency. This move is seen as a significant development for the crypto market and fintech industry.

Squadron Energy, a Tattarang portfolio company, has started construction on the 414MW Uungula wind farm in New South Wales, Australia. It has received permission to connect to the current transmission system and is expected to generate enough electricity to power 220,000 homes.

Algeria's state grains agency, OAIC, is believed to have purchased between 250,000 and 350,000 metric tons of durum wheat in a recent tender. The purchase was expected to be sourced from Canada, Mexico, and Australia. The exact volume and prices are still unknown.

Calgary-based Arrow Exploration Corp plans to drill 15 wells in Colombia with a net capital budget of $33.68 million for 2024. The company will focus on its Colombian assets, specifically the Tapir block and the Carrizales Norte field. Arrow expects to employ two rigs.