November 26, 2024
Here’s your Weekly Wrap of all things crypto funding, ending November 23, 2024.
This week’s crypto funding activity saw $91.78 million raised across 16 projects, slightly below historical weekly averages of approximately $257 million across 27 projects. Notable sectors driving this week's funding include Gambling, Infrastructure, and DeFi, which collectively showcased strong investor interest.
The Gambling sector led the way with $30 million raised across two projects, highlighting the rising prominence of blockchain-enabled gaming and entertainment platforms. Infrastructure projects followed with a total of $28.15 million raised across three initiatives, underscoring continued interest in scalable blockchain solutions. Meanwhile, the DeFi sector attracted $5.1 million across two projects, reflecting ongoing innovation in decentralized financial systems
Below is a summary of the recorded projects receiving funding this week.
Category | Organisation Name | Project Description | Money Raised this Round |
AI |
|
| 5,000,000.00 |
Oceans Gallerie | AI-Powered Social Aggregation Platform built on Sui | UNDISCLOSED | |
OpenLayer | AI Data Layer | 5,000,000.00 | |
Bitcoin |
|
| UNDISCLOSED |
Lnfi | DeFi platform built on the Bitcoin Lightning Network | UNDISCLOSED | |
DeFi |
|
| 5,100,000.00 |
Barter | DeFi Liquidity Solver System | 3,000,000.00 | |
Exponent | Solana DeFi fixed rate market | 2,100,000.00 | |
Gambling |
|
| 30,000,000.00 |
BoxBet | Crypto Betting and Gaming Firm | UNDISCLOSED | |
Monkey Tilt | Gaming & Entertainment Brand | 30,000,000.00 | |
Gaming |
|
| 13,200,000.00 |
Gabby World | AI Generated Content Game | 2,000,000.00 | |
KGeN | Zk Gaming Reputation Platform | 10,000,000.00 | |
SuperScale | Gaming Analytics Platform | 1,200,000.00 | |
Infrastructure |
|
| 28,145,000.00 |
Noble | Stablecoin Issuance UX | 15,000,000.00 | |
Shinami | Move developer platform for Aptos and Sui | 5,645,000.00 | |
Valantis | Modular DEX Protocol Framework | 7,500,000.00 | |
Payments |
|
| 6,300,000.00 |
Rise | Crypto & Fiat Payment Infrastructure | 6,300,000.00 | |
Social |
|
| 4,030,000.00 |
Truemarkets | Market-based media platform | 4,030,000.00 | |
Stablecoin |
|
| UNDISCLOSED |
Quantoz | Regulated electronic money token issuer | UNDISCLOSED | |
Grand Total |
|
| 91,775,000.00 |
Gambling
The Gambling sector topped the funding chart this week, raising a total of $30 million. Two key projects stood out in this category:
Monkey Tilt: A Gaming & Entertainment Brand that secured the full $30 million in funding. The project aims to blend blockchain with interactive entertainment, offering a robust ecosystem for gaming enthusiasts. This significant investment underscores the growing demand for decentralized gaming and betting platforms.
BoxBet: A Crypto Betting and Gaming Firm with an undisclosed funding round. While specific details were not revealed, BoxBet represents the increasing momentum within crypto-enabled gambling solutions.
Infrastructure
Infrastructure projects followed closely, raising $28.15 million across three initiatives. This sector continues to attract significant attention for its foundational role in blockchain development.
Noble: A Stablecoin Issuance UX platform raised $15 million, marking the largest contribution within the Infrastructure category. Noble is focused on creating user-friendly interfaces for stablecoin issuance, essential for broader Web3 adoption.
Shinami: A developer platform for Aptos and Sui secured $5.645 million. Shinami’s funding supports the development of tools for Layer 1 networks, enabling developers to build scalable and efficient blockchain applications.
Valantis: A Modular DEX Protocol Framework raised $7.5 million. Valantis is working on improving decentralized exchange architectures, providing modular solutions for better interoperability and user experience.
DeFi
The DeFi category also performed well this week, with three projects raising a combined total of $5.1 million. These projects showcase innovation in liquidity solutions and financial infrastructure.
Barter: A DeFi Liquidity Solver System raised $3 million. This project seeks to optimize liquidity across decentralized platforms, addressing a critical need in DeFi markets.
Exponent: A Solana-based DeFi fixed-rate market raised $2.1 million. Exponent aims to stabilize yields and provide consistent returns for investors in the volatile DeFi landscape.
Conclusion
This week’s funding highlights reveal a strong preference for projects in Gambling, Infrastructure, and DeFi. Gambling projects, particularly Monkey Tilt, received the highest funding, showcasing the potential of blockchain in gaming and entertainment. Infrastructure projects, led by Noble, continue to attract investments for their critical role in expanding blockchain ecosystems. Meanwhile, DeFi projects maintain steady growth, driving innovation in decentralized financial services.
The diverse funding activity this week signals a balanced yet targeted interest in core blockchain sectors and emerging applications, paving the way for stronger industry development in the months to come.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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