The cryptoverse has been fraught with ups and downs lately. With the recent plunge of crypto markets, many investors are scaling back on their investments or pulling out altogether. But there are still experts who believe that investing in cryptocurrencies can be profitable in the long run, even if there is some risk involved.

Using Hyperspace, customers may discover and shop for NFTs throughout the Solana ecosystem, an aggregation platform. It also allows users to mint and exchange NFTs directly on Hyperspace, a convenient feature.

Alexis Ohanian’s 776 will be the majority crypto by the end of 2022. 

Reddit co-founder Alexis Ohanian is no news to the cryptocurrency sector, previously working in the industry. His venture capital business, 776 Management LLC, was one of the driving forces behind a $100 million Web3 growth fund launched in November 2021 in partnership with Solana Ventures. Now, Ohanian’s 776 has opened two new funds, with a combined value of $500 million, focused on investing in businesses at various phases of their growth and development. While Ohanian didn’t give the exact details and estimates, he told The Wall Street Journal that cryptocurrencies “will be the majority of the portfolio by the end of this year.”

Ohanian’s rising interest in cryptocurrency is based on his perception of where the best talent is heading in the industry. “Talent has never led me wrong,” he remarked. His statement was about the significant surge of software developers into the Crypto Industry. As reported by the venture capital firm Electric Capital, approximately 34,000 new developers contributed to open-source crypto projects in 2021, marking the biggest number of contributions on record.

Blockchain startup 5ire raises $100 million. 

5ire is the first Layer 1 blockchain project focusing on sustainability, complete with an exchange, wallet, and NFT marketplace, and a venture capital fund to aid in the growth of other sustainable blockchain initiatives.

5ire, a blockchain network, has acquired $100 million in funding from GEM Global Yield LLC SCS (GGY), a private alternative investment organization based in Luxembourg. 5ire had previously raised $21 million in a seed round at a valuation of $110 million. The company intends to go public shortly.

The funds will be utilized to expand the ecosystem, including collaborating with government stakeholders, investing in technology and resources, employing, and promoting 5ireChain adoption.