This Week in Crypto Venture Capital: Web3, Gaming, and Beyond
The venture capital landscape continues to be a hotbed of innovation, with this week showcasing significant investments across various sectors poised to shape the future.
This weekly wrap of crypto dives into the latest funding rounds across DeFi, FinTech, Web3, Gaming, Security, and the NFT market.
Category | Project | Money Raised this Round |
|---|---|---|
Bitcoin | 8,000,000 | |
Nubit | 8,000,000 | |
DeFi | 37,500,000 | |
Blueberry Protocol | 2,500,000 | |
M^0 | 35,000,000 | |
FinTech | 26,750,000 | |
Mountain Protocol | 8,000,000 | |
XREX | 18,750,000 | |
Gaming | 40,000,000 | |
The Sandbox | 20,000,000 | |
XOCIETY | 7,500,000 | |
Crypto Blockchain Industries | 12,500,000 | |
Meme | 5,000,000 | |
Milady Meme Coin | 5,000,000 | |
Mining | 2,500,000 | |
Arthur Mining Inc | 2,500,000 | |
NFT | 4,375,000 | |
1,075,000 | ||
Stashh Labs | 3,300,000 | |
Security | 25,000,000 | |
Fhenix | 15,000,000 | |
GoPlus | 10,000,000 | |
Web3 | 48,500,000 | |
$COOKIE3 | 5,500,000 | |
Avail | 43,000,000 | |
Grand Total | 197,625,000 |
Crypto and DeFi See Continued Support
Bitcoin, the granddaddy of cryptocurrencies, continues to attract interest from investors regarding its scalability. Nubit, a Bitcoin scaling ecosystem, secured a healthy $8 million lead by Polychain Capital. This indicates ongoing confidence in Bitcoin's role as a digital store of value.
DeFi, the world of financial services built on blockchains, saw some interesting developments. Blueberry Protocol, a decentralized prime brokerage, raised $2.5 million, highlighting the growing demand for non-custodial financial solutions. M^0, a network for minting fungible crypto dollars, received a significant $35 million investment from Bain Capital Crypto, reflecting the increasing adoption of robust minting solutions.
FinTech Embraces Blockchain Technology
FinTech, the traditional financial services industry embracing technology, witnessed exciting developments. Mountain Protocol, a provider of a yield-generating USD stablecoin, secured $8 million led by Multicoin Capital. This demonstrates the growing demand for innovative solutions that offer returns on stablecoin holdings. XREX, a regulated blockchain financial institution, further validates the trend with its $18.75 million funding round backed by Tether, a leading stablecoin issuer.
Web3 Takes Center Stage
Web3, the next iteration of the internet built on decentralization and blockchain technology, saw notable investments. $COOKIE3, a "MarketingFi" token facilitating marketing efforts within the Web3 space, secured $5.5 million from prominent players like Animoca Brands and Spartan Group. This highlights the importance of marketing and branding within the burgeoning Web3 ecosystem.
Avail, a project focusing on interoperability, scalability, and security for rollups (a type of blockchain scaling solution), garnered a significant $43 million from investors including Peter Thiel's Founders Fund, demonstrating the growing demand for solutions that address scalability challenges within the blockchain space.
The Gaming Industry Gets a Blockchain Boost
The gaming industry is increasingly embracing blockchain technology. The Sandbox, a user-generated content (UGC) metaverse platform, secured $20 million from Kingsway Capital and Animoca Brands, signifying the rising interest in user-driven virtual worlds built on blockchain principles.
XOCIETY, a developer of AAA games, received $7.5 million from Hashed and Sui Foundation suggesting the continued belief that blockchain technology will eventually allow players to better control and own aspects of their contribution to game play. Meanwhile, Crypto Blockchain Industries (CBI), specializing in blockchain-powered games, secured EUR 12.5 million from COLOPL, Inc, a prominent Japanese video game publisher highlighting the growing collaboration between traditional gaming companies and blockchain firms.
Security Takes Priority in a Decentralized World
Security continues to see investment into projects which strengthen the blockchain. Fhenix, an Ethereum Layer 2 network developer focused on data confidentiality, secured $15 million led by Hack VC, signifying the continued importance of privacy and security solutions within the blockchain space. GoPlus, a Web3 cybersecurity firm, also raised $10 million from OKX Ventures, further highlighting the focus on securing the Web3 ecosystem.
NFT Market Matures with Utility-Driven Projects
The NFT market, known for its digital art collections, is evolving towards more practical applications and not just jpeg collections of animals. Notable.Art, a platform for digital art NFTs, secured $1.075 million, indicating continued interest in digital art ownership. Stashh Labs, an omni-chain SoFi NFT marketplace, received $3.3 million from Animoca Brands, showcasing the potential of NFTs in a social-first platform where users can connect, discover, trade, and grow content.
Conclusion: A Week of Innovation Across Industries
This week's venture capital landscape has painted a diverse picture of investment across various sectors. From continued support for Bitcoin and DeFi to the rise of Web3, blockchain-powered gaming, and security solutions, the future appears to be increasingly decentralized. The NFT market is maturing with a focus on utility, demonstrating its potential beyond just digital collectibles. As these trends evolve, it will continue to be fascinating as to how blockchain reshapes the world we live in.
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