Despite the strong fluctuations in the cryptocurrency market last week (market cap down 2% to 2.783 trillion USD, according to the previous article), venture funds still poured 150 million USD into Web3 projects, with prominent names like Wunder, Blackbird, Meanwhile, Towns, and the acquisition of Slingshot by Magic Eden. Can these projects shape the future of Web3? Let's analyze in detail.


Wunder: Web3 Social Network Raises 50 Million USD

A decentralized social network based in London led the list with 50 million USD in a funding round led by Rollman Management. The project aims to redefine the social media experience in the Web3 era by:



  • Eliminating bots and algorithm manipulation: Wunder integrates on-chain identity verification technology to eliminate fake accounts and bots – a pressing issue on Web2 platforms like Twitter (now X) or Instagram. According to Chainalysis 2024, bots accounted for up to 86% of memecoin transactions on Solana at peak times (according to the previous article), highlighting the severity of this issue.


  • Advertising revenue sharing: Instead of letting profits fall into the hands of large companies, Wunder shares advertising revenue directly with users, allowing them to reinvest in social activities, charities, or community goals.


  • Global ambition: Former global marketing director of TikTok, Ryan Martin, joins Wunder as CMO, demonstrating the plan for scaling up. The project is also planning to launch a token sale in April 2025, with the token serving as advertising rewards, governance, and community funding.



Wunder leverages blockchain to create a transparent platform, promising a fairer user experience, but still needs to prove its competitiveness against Web2 giants.


Blackbird: 50 Million USD for Blockchain Payments in the F&B Industry

Blackbird, a blockchain payment and rewards app for the F&B industry in the US, raised 50 million USD in a Series B round led by Spark Capital, with participation from Coinbase, a16z, Union Square Ventures, and Amex Ventures. Total capital raised by Blackbird since 2022 now stands at 85 million USD.



  • Operational model: Blackbird integrates blockchain to transparently enhance customer loyalty experience. Users check-in at over 600 partner restaurants in major US cities to earn FLY tokens, which can be used for payments within the network.


  • Flynet – Private Blockchain: In February 2025, Blackbird launched Flynet on Layer-2 Base, aiming to become an open database on food consumption behavior. CEO Ben Leventhal stated: “Flynet can allow developers to build applications around users' dining habits,” opening vast application potential.



Blackbird not only addresses payment needs but also creates a transparent ecosystem, demonstrating the potential of blockchain in the F&B industry.


Meanwhile: Life Insurance with Bitcoin Raises 40 Million USD

Meanwhile, the world's first life insurance startup using Bitcoin, raised 40 million USD in a Series A round led by Framework Ventures and Fulgur Ventures. The total capital raised by the project reached 60.5 million USD, with a 20.5 million USD seed round in 2023 involving OpenAI CEO Sam Altman.



  • Insurance model: Meanwhile allows customers to pay premiums and receive payouts in BTC, protecting assets against inflation risk (inflation increased by 1.5%, according to the previous article) and leveraging Bitcoin's growth potential (BTC reached 79,000 USD, according to the previous article). Additionally, users can borrow or withdraw tax-free from the accumulated value of the contract, similar to traditional insurance.


  • Vision: The project aims to integrate Bitcoin into personal finance, providing long-term financial protection solutions in the context of fiat currency devaluation.


Towns: 10 Million USD for Decentralized Messaging

A decentralized messaging platform on the River protocol and Layer-2 Base raised 10 million USD led by a16z Crypto, with participation from Coinbase Ventures and Benchmark.



  • Different from Web2: Unlike Discord or Slack, Towns stores data on the blockchain and end-to-end encrypts conversations, giving users full control over their data. Users can create a “Town” (community) with features such as bots, extensions, and access based on token/NFT ownership.


  • Achievements: Towns has reached nearly 1 million users and generated over 500,000 USD in direct tips during conversations, showing strong growth potential.



Magic Eden Acquires Slingshot: A Shift from NFT to Cross-Chain Trading

Magic Eden, the leading NFT exchange, has acquired the cross-chain trading app Slingshot, marking a shift towards a comprehensive digital asset trading ecosystem. The value of the deal has not been disclosed, but Jack Lu, CEO of Magic Eden, shared: “This is a significant step to create a seamless, secure trading platform for all types of digital assets across all blockchains.” [Web ID: 0] [Web ID: 11]



  • Slingshot and Chain Abstraction Technology: Slingshot allows transactions of any token across any blockchain with a single account and a common USDC balance, removing barriers such as wallet compatibility, gas fees, or bridges.


  • Development plan: Magic Eden and Slingshot will integrate more user-friendly features, such as on-chain deposits via Apple Pay, Venmo, credit cards, and using AI for asset suggestions and analysis. They also plan to expand support for various cross-chain assets beyond USDC.


  • Declining NFT context: This move comes as the NFT market has sharply declined – the trading volume dropped from 6 billion USD (January 2022) to 429 million USD (March 2025), with total NFT sales in 2025 reaching only 1.6 billion USD (according to CryptoSlam). [Web ID: 18]



Impact on the Web3 Market


  • Investor confidence: Despite fluctuations in the crypto market (Bitcoin down 5.3%, Ethereum down 11.8% last week, according to the previous article), major funds like Coinbase, a16z, and Union Square Ventures are still investing, showing confidence in the long-term potential of Web3. In total, over 25 deals raised 854 million USD in the first week of April 2025, nearly 1.5 times the previous week, according to a post on X. [Post ID: 2]


  • User-centric trends: Projects like Wunder, Blackbird, Meanwhile, and Towns all focus on user experience, from transparent social media, F&B payments, Bitcoin insurance, to decentralized messaging, indicating that Web3 is getting closer to everyday life.


  • Magic Eden leads the trend: The acquisition of Slingshot helps Magic Eden diversify services, from NFT to cross-chain trading, leveraging the boom of Solana (SOL up 12.5%, according to the previous article) and competing with centralized exchanges.



Conclusion: Is Web3 Rising Strongly?

The influx of 150 million USD into Web3 projects last week is a testament to the allure of blockchain technology, despite market volatility. Wunder (50 million USD) redefines social media, Blackbird (50 million USD) innovates F&B payments, Meanwhile (40 million USD) integrates Bitcoin into insurance, Towns (10 million USD) protects messaging privacy, and Magic Eden expands into cross-chain trading. With support from major funds and a clear product vision, these projects are laying the groundwork for a Web3 ecosystem closer to users. Could this be the beginning of a new growth wave for Web3? Investors and users need to closely follow to seize opportunities.


Risk warning: Investing in Web3 projects carries high risks due to market volatility and the novelty of technology. Please consider carefully before participating.