Web3 Game Planetarium Raises $32M

Web3 gaming company Planetarium Labs announced the completion of a $32 million Series A round led by Animoca Brands.

Founded in 2018, the company aims to provide a comprehensive toolbox for building decentralized games, with community-centric services covering game incubation, technical and release support.

CEO Kijun Seo said Planetarium will launch a number of community-driven games this year “in partnership with a number of major game studios in the Asia-Pacific region.”

Beacon Chain Deposits Decline

The main cryptocurrency market rallied slightly on Wednesday after the Federal Reserve reiterated its aggressive stance in its steadfast fight against inflation. BTC has managed to hold above the psychological support level of $20,000 for three consecutive days. At the time of writing, the largest cryptocurrency by market capitalization is up 2% in the past 24 hours and is now above $20,300. A major bearish trend line is forming with support near $19,800 on the hourly chart of BTC. A break above the resistance at $20,700 in one fell swoop is likely to bring a stronger upward momentum to BTC. However, many analysts believe that barring a major market-changing event or an unexpected turnaround in the inflation fight, BTC will remain range-bound in the short term.

Similar to BTC, ETH is now near the upper end of the $1,100 range after gaining 3.4% over the same period. The second-largest cryptocurrency is expected to grow steadily, and if it can gain a foothold above $1,160, the $1,200 mark is not out of reach. However, with several major institutions in the cryptocurrency space storming, deposit activity on the Ethereum beacon chain has dropped significantly. At present, stakers of the beacon chain lose an average of 55%, accounting for 36.5% of the entire Ethereum market loss. In the non-mainstream currency market, all major non-mainstream currencies turned from falling to rising, and AVAX led the rally with a 4% increase in the same period.