Ethereum’s ‘Merge Day’📈, New law for online gaming🎮, Instagram brings parental supervision tools👀
Ethereum’s ‘Merge Day’ lifts gloom in Web3 community, New law for online gaming, Instagram brings its parental supervision tools, Funding Deals and more.
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Ethereum’s ‘Merge Day’ lifts gloom in India’s Web3 community📈
The Indian Web3 community celebrated the successful completion of Ethereum’s transition to a less energy-intensive technology to run its blockchain on Thursday, with “Happy Merge Day” becoming the greeting of choice among stakeholders.
The transition, dubbed the ‘Merge’, was touted as one of the most important events for the cryptocurrency industry in recent years.
The completion of the long-anticipated shift was met with cheer in the Web3 community on social media, in what has been an otherwise gloomy year for crypto in India.
At one point, over 30,000 people around the world joined the “Ethereum Mainnet Merge Viewing Party” on YouTube, hosted by the Ethereum Foundation, as it happened in real-time.
The transition to a more energy-efficient blockchain could bring in more institutional participation and developer adoption for Ethereum.
India panel calls for regulatory body, new law for online gaming: report🎮
India should create a regulatory body to classify online games as based on skill or chance, introduce rules to block prohibited formats and take a stricter stance on gambling websites, Reuters reported on Thursday, citing a government panel’s report.
The panel has for months been drafting regulations for the country's online gaming sector, in which foreign investors such as Tiger Global and Sequoia Capital have backed startups such as Dream11 and Mobile Premier League.
The much-awaited report is seen as shaping the future of India’s $1.5-billion mobile gaming industry, which is estimated to hit $5 billion by 2025.
The IT ministry will finalise the report after receiving more comments from panel members. It will then be sent to the cabinet secretariat for approval. There is no timeline for finalisation.
Data engineering and AI solutions startup Sigmoid has raised $12 million in its Series B round from Sequoia Capital India.
New Delhi-based cold chain solutions provider enterprise New Leaf Dynamic Technologies has raised Rs 6.15 crore in pre-Series A round from Moskovitz’s firm Good Ventures LLC.
Matrix Partners India has led a $2.4 million round in cross- border raw material sourcing startup XimKart.
Instagram brings its parental supervision tools to India👀
Instagram said on Thursday it has rolled out its new parental supervision tools in India, which will allow parents to control how their children use the platform, monitor their usage, and notify them in case of any trouble.
The social media platform is also introducing a ‘family centre’, where parents and guardians can access supervision tools and resources from experts.
The move comes after Meta launched parental supervision controls and a family centre in the US in March.
The platform said Meta has been working closely with experts, parents, guardians and young people in India to understand their needs. One of the biggest needs is to provide tools and resources to educate parents about digital services. For this, the company will work with Kidsstoppress.com to engage with parents and spread awareness of the tools.
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