The 37th week of 2022 financing selection, the NFT and DeFi sectors fell off a cliff

22-09-13 18:44
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Original author: BlockBeats


According to BlockBeats statistics, The total number of weekly financings is 43, covering GameFi, NFT, DeFi, social and other fields, with a total amount of more than 1.038 billion US dollars and an average financing amount of 24.72 million US dollars. Among them, financing in the fields of digital asset management/payment, infrastructure, and metaverse/GameFi has become the absolute main body, while financing in the NFT, DeFi, and social sectors has declined significantly. The picture below shows the financing ratio of each sector last week:


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Metaverse/GameFi


A total of 10 financings in the metaverse/GameFi field, with a total amount of more than 197 million US dollars, accounting for 19.03% of the total financing last week.


Animoca Brand


Reason for attention: What new actions will Animoca have after another round of huge financing?


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BlockBeats news, on September 8, Animoca Brands completed a financing of US$110 million, with participation from Temasek, Boyu Capital and GGV Capital. The financing is in the form of convertible bonds. The new funds will be used to fund strategic acquisitions, investments and product development, license popular intellectual property, and advance "open virtual worlds," including efforts to promote digital property rights for online users. Earlier BlockBeats reported that according to Bloomberg citing people familiar with the matter, Temasek will lead a new round of financing of $100 million in Animoca Brands through convertible bonds.


Revolving Games


Reason for attention: Luxury financing lineup and team background, zero upfront payment model attracts traditional players.



BlockBeats news, on September 9th, mobile game developer Revolving Games announced the completion of a US$13.2 million seed round of financing, this round of financing was led by Pantera Capital, Animoca Brands, Polygon, Dapper Labs and Rockstar Games founder Dan Houser participated. The company’s total funding to date has brought it to $25 million.


Revolving Games (RG) is a AAA Web3 blockchain game company. RG keenly captures the development trend of the game industry and is at the forefront of change, that is, from a developer-owned ecosystem to a player-owned ecosystem. The company is developing cutting-edge technology to provide players with a scalable Play-and-Earn gaming experience through a connected metaverse.


RG CEO Saad Zaeem stated that RG's target audience is traditional gamers. If NFT is introduced into the game, it must be accompanied by corresponding measures to compensate for the player's experience, so RG will be committed to creating a chain game that does not require upfront fees, allowing players to have full autonomy over whether to invest.


It is reported that the new financing will be used to create AAA Web3 games. Revolving Games already has two confirmed games in the works. The first is the "Battlestar Galactica" 4X strategy MMO blockchain game produced in collaboration with Gala Games and NBCUniversal, which was unveiled on Galaverse earlier in June 2022. The second is "Skyborne Legacy," a Nintendo-inspired RPG game based on the Polygon network.


Gameplay Galaxy


Reason for attention: Strong financing lineup, with a seed round of US$12.8 million; a professional team to create a "really fun" blockchain game.



BlockBeats news, September 7th, chain game company BlockBeats news, September 7th, chain game company Gameplay Galaxy completed a $ 12.8 million seed round of financing, led by Blockchain Capital, Mysten Labs, Solana Ventures, Yield Guild Games, Merit Circle, Com2uS and Hustle Fund participated.


Gameplay Galaxy will build a Web3 competitive chain game ecosystem. Players will own NFTs of game assets related to racing, such as vehicles, tracks, characters and other items, and earn money by winning races.


The Gameplay Galaxy team has more than 15 years of professional experience in building industry-leading Web2 game Trial Xtreme, the series has over 250 million downloads in total. Their senior resume and performance achievements make them firmly believe that they must "put players as the focus of attention". Gameplay Galaxy stated that it will start from the player's real game experience and focus on providing interesting gameplay. The team stated that the model combining rich gaming experience with potential revenue is an innovation of Gameplay Galaxy and the development direction of the entire GameFi industry.


Metaverse Magna


Reason for attention: The investment lineup is bright, and they understand the essence of Growth Hack, leveraging the dividend leverage of the African market.


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BlockBeats news, on September 5, the blockchain game platform Metaverse Magna (MVM) announced the completion of a $3.2 million seed round of financing through Token sales, Wemade, Tess Ventures, LD Capital , Taureon, Gumi Cryptos Capital, HashKey, AFF, Polygon Studios, Casper Johansen (Spartan) and IndiGG participated.


Founded in December 2021, MVM is the second product released by Nestcoin, an African encryption start-up company, and was incubated in cooperation with the encryption investment fund Old Fashion Research. MVM aims to attract 186 million gamers on the African continent to explore blockchain games and build the largest game DAO in the local market. By drawing on the P2E game guild model, MVM hopes to accelerate the participation of very local players in encrypted games such as Axie Infinity and Pegaxy. So far, the number of its products and community members has exceeded 100,000.


In view of the economic dynamics in Africa, MVM purchased Axie Infinity, etc. through the Scholarship In-game assets and lend them to MVM players for free. MVM will also ensure retention of the majority of users and their revenue through training and player community support. The team has been in private testing for several months now and expects to share a public beta version with the rest of Africa soon.


MVM's community currently consists of over 160 active Goldsmiths and over 750 Discord members Formed, the team is also working hard to expand its catalog of games to support the interests of the growing gaming community. The team is also creating a free, simple, and easy-to-use guild management platform that will provide anyone interested in creating a game guild with the tools and community they need to run it.


HotStreak


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Reason for attention: Deeply cultivate the second largest original universe market outside of e-sports-sports betting.



BlockBeats news, on September 8, Web3 sports betting platform HotStreak completed $9 million in Series A financing, led by Polychain Capital, other specific Financing information has not been disclosed.


HotStreak, a Web3 platform for Daily Fantasy Sports (DFS) competitions, believes that The decentralized nature of blockchain makes it an ideal solution for the DFS platform. Daily fantasy sports is not traditional sports betting, but a virtual role-playing game, which allows users to play the role of team managers, select a team composed of real players, and then feedback the results of the game on the Internet. DFS was originally unregulated in the United States, largely benefiting from the position set out in the Unlawful Internet Gambling Enforcement Act of 2006. The bill declares fantasy sports to be about skill, not luck. Because of this, daily fantasy sports sites position themselves as games of skill, so they're exempt from online gambling regulations.


HotStreak CEO Greg Dean believes there is a serious payout problem with centralized DFS platforms like FanDuel and hosting issues. HotStreak will solve the centralized trust problem through on-chain technology. On the other hand, building its own centralized payment system will also consume a lot of costs, and the fees will be paid by users in the end. HotStreak's decentralized SHARP protocol aims to facilitate payment and To solve the problem from the perspective of hosting, the current payment settlement time on its platform is 10 seconds.


According to Dean, HotStreak has reached a monthly turnover of 3-5 million US dollars this summer , and achieve profitability. But it’s also important to note that as more states in the U.S. legalize sports betting, the overall market for DFS providers may shrink, but Dean believes the overall sports betting market will still grow significantly.


NFT/Digital Fashion


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A total of 4 financings in the field of NFT/digital fashion, with a total amount of 26.2 million US dollars, accounting for 2.52% of the total financing last week.


Dust Labs


Reason for attention: An NFT SaaS start-up company separated from DeGods, the NFT project with the highest market value in the Solana ecosystem.


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BlockBeats news, on September 6, NFT SaaS startup Dust Labs announced the completion of a $7 million seed round of financing. This round of financing was led by Chapter One, Foundation Capital, Magic Eden, Hello Moon , Big Brain Holdings, Unlock Venture Partners, Metaplex, FTX Ventures, Jump Capital, Jupiter, Hyperspace, Solana Ventures, Mysten Labs, and Cymbal participated in the investment.


Dust Labs consists of Frank, the founder of DeGods, the NFT project with the highest market value in the Solana ecosystem, and the Co-founded by Kevin to provide governance tools for NFT projects on Ethereum and Solana. The company’s first product, a “scholarship” whitelisting tool, has been tested against the DeGods second-generation project y00ts minting.


The total amount of DeGods sold is 10k (535 were destroyed later), with the innovative "Paper hand tax", deflation mechanism for repurchase NFT destruction, unique meme, positive circular $DUST Token economic system and influential community DeDAO, it has become the most influential NFT brand with the highest market value in Solana . y00ts is the second season of PFP NFT series launched by DeGods. The total amount of y00ts is 15k. Each DeadGods holder can mint one y00ts, totaling 8956. The remaining places need to apply for the "y00tlist scholarship" to obtain casting qualifications. There are also 100 slots for the raffle, and raffle tickets need to be purchased with $DUST. All those eligible for minting will need to pay 375 $DUST to mint y00ts NFTs.


Cupcake


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Reason for attention: Solana ecological NFT issuance and management tool, the production team has obtained tens of millions of financing


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BlockBeats news, on September 9th, NFT application Cupcake development team B+J Studios announced the completion of $10 million in financing, Brevan Howard Digital, Big Brain Holdings, Foundation Capital and Republic Capital, etc. Participate in voting.


B+J Studios is a blockchain solution studio for mainstream consumers and institutions , founded by two software engineers from Solana Labs and multinational hedge fund Citadel. B+J Studios prioritizes infrastructure that brings a seamless experience to crypto users. And hope that through B+J Studios products, creators can establish a close relationship with users in business, content and game scenarios.


B+J Studios is based on infrastructure that prioritizes a seamless experience for crypto users such as Develop concept and launch first product NFT application Cupcake. Cupcake will be based on Solana, which simplifies the complex technical limitations and lengthy setup process when acquiring NFT for the first time, and exempts users from Gas fees. Users are able to create a digital asset wallet and mint the first NFT in less than a minute through Cupcake secure NFC tags paired with smart contracts. In addition, another focus of Cupcake is to strengthen the connection between fans and creators and create a continuous digital participation channel.


DeFi


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A total of 5 financings in the DeFi field, with a total amount of 26.65 million US dollars, accounting for 2.57% of the total financing last week.


Hubble Protocol


Reason for attention: Multicoin leads the investment, can the stablecoin protocol of Solana ecology become the next FRAX?



BlockBeats news, on September 8, Hubble Protocol, a Solana-based Stablecoin lending platform, announced the completion of a $5 million financing. This round of financing was led by Multicoin Capital, with participation from DeFiance Capital, Delphi Digital, Digital Currency Group, Crypto.com Capital, ParaFi, Jump Capital, decentralized Park Capital, CMS, Spartan Group, DeFi Alliance, and Mechanism Capital. In the previous month, Hubble Protocol completed a financing of 10 million US dollars, and Sanjian Capital and others participated in the investment.


Hubble is a lending protocol for the Solana ecosystem, with the native stablecoin USDH as the core of the product, users can Deposit SOL, BTC, ETH and other encrypted assets in Hubble as collateral, and then lend USDH to generate income in Solana's DeFi ecosystem. Hubble’s USDH lending vault is equipped with specific parameters, such as stability fees and deposit limits, etc., and loans are jointly guaranteed by the Hubble vault and the liquidation robot built by the team.


In addition, users can deposit USDH into the Hubble vault to obtain the original Token of the protocol HBB. Similar to most protocols, HBB holders obtain rewards generated by the protocol by staking HBB Token. In the future, HBB will also serve as Hubble's governance token, giving users the ability to guide protocol decisions. On the basis of the loan agreement, the Hubble team will provide more income production tools and add a valuable HBB pledge mechanism to enhance the value of HBB itself.


In the next stages of development, the agreement will introduce various products and services for the platform And USDH itself brings more utility. Hubble Protocol will use the funding to advance its roadmap. Including improvements to the current platform, as well as advancing the usage of its stablecoin USDH by launching new DeFi services and products.


Credix


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Reason for attention: Solana is an interesting attempt to integrate DeFi and TradFi in the ecosystem.




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BlockBeats news, on September 6, DeFi investment platform Credix completed $11.25 million in Series A financing, co-led by Motive Partners’ early-stage fund and ParaFi Capital, Valor Capital Group and Victory Park Capital, MGG Bayhawk Fund, Circle Ventures , FuseCapital, and Abra participated in the investment.


Credix is a credit market in the Solana ecosystem, designed to support Tokenization and securitization of real-world assets, creating programmable assets and automated capital market workflows, matching institutional investors with fintech companies in emerging markets, enabling institutional borrowers to obtain liquidity, and providing institutional investors, Credit funds and accredited investors create attractive risk-adjusted investment opportunities.


The Creditx team is Working directly with borrowers such as fintech lenders, funding them at attractive rates for institutional access to these securitized and high-yield opportunities through Creditx. Accredited investors (including hedge funds, private equity, etc.) You can invest in credit transactions directly in Creditx, or you can spread the risk through the liquidity pool of decentralized transactions.


< p>Currently, there are more than 25 funds using the Creditx platform. According to the company, Creditx has received more than US$20 million in financing. This round of financing will be used for expansion in Latin America.


Magpie Protocol


Reason for attention: Jump and Republic participated in the vote.



BlockBeats News, September 8, Decentralized Liquidity Aggregation Protocol Magpie Protocol announced the completion of a $3 million seed round led by Jump Crypto, ArkStream Capital, Sandeep Nailwal, GSR Markets, Parafi Capital, Republic Capital, Big Brain Holdings, Serafund, Faculty Group, MH Ventures, D1 Ventures, Apollo Capital Wait to vote.


 Magpie Protocol aims to provide the best possible transaction for any asset across chains without the need for bridges. Ethereum, Polygon, BNB Chain and Avalanche are currently supported, and more blockchains will be supported in the future. When using Magpie, users do not need to lock or destroy tokens, then mint on the target chain and then mint, but use the Stablecoin liquidity pool and Magpie liquidity aggregation protocol, both of which are deployed on the chain to initiate the token exchange. Although Magpie is similar to liquidity aggregation and cross-chain exchange protocols 0x, Parswap and 1inch. The advantage of Magpie is that it does not need to spend 15 minutes to 3 hours to cross-chain before being able to exchange on the new chain.


Magpie Protocol Token FLY will be publicly sold in the fourth quarter, and FLY will be used as a governance token and Liquidity tokens. Currently, Magpie charges a 0.1% fee for cross-chain and cross-chain swaps. Future earnings will be distributed to liquidity providers, FLY stakers and operating funds. According to the roadmap, Magpie plans to add cross-chain revenue aggregation, private RFQ market makers in 2023.


Social/Content


A total of 4 financings in the social field, with a total amount of 8.3 million US dollars, accounting for 0.8% of the total financing last week.


KNN3


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Reason for attention: The track is novel, the investment lineup is bright, and the community pays attention and atmosphere.


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BlockBeats news, September 9th, according to Bitcoin.com reports, Web3 data management protocol KNN3 Network completed a seed round of financing of 2.4 million US dollars, this round of financing was jointly funded by HashGlobal and Fosun International Founder Liang Xinjun led the investment, and participating investors included Mask Network, MetaWeb Venture, Eniac Venture, Tess Venture, Stratified Capital, Fundamental lab, Incuba Alpha, Zeuth Venture, Cogitent Venture, Atlas Capital, ETHsign, Impossible Finance, RSS3, ShowMe, etc.


KNN3 Network aims to be a community-driven data management protocol, providing visualization solutions for multi-chain data to support social dApps and AI analysis. Rhythm has previously conducted an exclusive interview report on KNN3, see "Conversation with KNN3: Web3 also needs reliable algorithms"


Hooked Protocol


Reason for Concern: The common choice of Binance, Redshirt and A&T.



BlockBeats message , On September 9, Binance announced that Binance Labs and Sequoia Seed Fund led the seed round financing of Web3 social network Hooked Protocol, and A&T Capital and others participated in the investment. The financing amount was not disclosed.


Hooked Protocol aims to build a community-driven social network with Token economics design, and users can get a gamified experience. The Hooked Protocol will first be launched on the BNB Chain and will expand to other Layer 1 blockchains in the future. One of the characteristics of Hooked Protocol is that it hopes to help builders automate some functions through modular design. For example, for dApps developers, they can quickly create applications through modular design. In addition, Hooked Protocol analyzes specific on-chain identities through key user behaviors, allowing ecosystem participants to optimize resource allocation, etc.


Currently the team is integrating the wallet and DID, and the specific progress and roadmap of the project have not been announced. According to official information, Hooked will build a basic layer for Web3 ecological users in the future, and all applications using Hooked infrastructure will also form a collaborative alliance network while running independently.


Reveel


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Reason for attention: Shortlisted for the Binance Labs Incubation Program, community treasury agreement or a new track?


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BlockBeats news, on September 5, Web3 revenue sharing protocol Reveel announced the completion of a $1.3 million pre-seed round of financing, with participation from Binance Labs and Moment Ventures. BlockBeats previously reported that Reveel was shortlisted for the Binance Labs Season 4 Incubation Program in May this year.


Reveel is a complete financial stack for Web3 collaboration, founded by Swiss reggae musician and producer Adrien Stern. Reveel provides developers with an on-chain revenue reporting platform designed to automate revenue sharing and is currently in v0.1. The initial beta includes a Revenue Share Protocol and a set of Creator Analytics ).


The revenue sharing agreement allows creators to design and deploy their own revenue paths based on smart contracts so that Automatically distribute on-chain income with collaborators. The protocol is implemented in a permissionless, gas-efficient and fully decentralized manner. Funds can be sent to a revenue path, and any listed recipient can withdraw their share of funds at any time without any other partner's approval or action on the smart contract, simplifying the revenue management aspect of collaboration.


The creator analysis tool provides the first analysis tool for NFT creators and collectors. Creators can track their entire catalog of NFT releases, compare their performance, and derive valuable insights to guide decisions for future releases. Additionally, the tool allows users to track and understand their collector base, segment holders based on various filters, and download collector lists. Reveel hopes it will give creators a better understanding of how their income is generated, and which projects and collaborations can help them grow their communities and income.


Infrastructure


A total of 9 financings in the field of infrastructure, with a total amount of more than 453 million US dollars, accounting for 43.66% of the total financing last week.


Mysten Labs


Reason for Concern: The new public chain development team founded by former Facebook team members, one of the "Move Geminis" - the boss of Mysten Labs The financing news has finally landed, can Gemini continue to become a hot spot in the bear market, and even lead the next round of bull market?


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BlockBeats news, on September 8, Sui development team Mysten Labs completed a $300 million financing at a valuation of over $2 billion, led by FTX Ventures, a16z Crypto, Jump Crypto, Apollo , Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures and Lightspeed Venture Partners participated.


Mysten Labs was established in September 2021 by four ex-Facebook (now Meta) Founded by senior engineers in the encryption department. When the team was at Facebook, they focused on research on the Diem blockchain, the Move programming language, high-performance consensus and execution techniques, and cryptographic proofs of solvency.


The core members of the team include Evan Cheng, who used to be the research and development director of Facebook's Novi Financial Products Department, and also worked at Apple for 10 years , currently in the CEO position of Mysten. The other three core members are Sam Blackshear, Adeniyi Abiodun, and George Danezis, who worked together at Novi Research (the advanced encryption R&D team under Meta). For detailed project introduction, please refer to "Mysten Labs: Web3 infrastructure provider from Facebook|Project Introduction" previously released by BlockBeats< /a>One article.


According to previous news, Mysten Labs has completed a round A financing of US$36 million in December 2021 This round of financing was led by a16z, with participation from Lightspeed, Coinbase Ventures, Electric Capital, Standard Crypto, Samsung NEXT, and Lux Capital. The testnet activity of its high-performance public chain project Sui has been launched in mid-August. The Sui Foundation will reward verifiers with 2000 SUI for each testnet "wave" they participate in, and promise to continue to participate in the Sui mainnet with the best performance. Validators provide SUI up to 10% of the supply.


Fuel Labs


Reason for Concern: Optimistic Rollup Expansion Solution The OG project turns to "modular development", what does it mean for OR?



BlockBeats news, on September 7, Fuel Labs, an Ethereum expansion solution, announced the completion of $80 million in financing, led by Blockchain Capital and Stratos Technologies , Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic and ZMT participated in the investment.


Fuel is an Ethereum expansion solution. Its V1 version was launched in 2020, and it is known as the first official launch on Ethereum Optimistic Rollup, and then the team carried out a technical route transformation, claiming to use the concept of "modular execution layer" to achieve high performance and security that cannot be achieved by all current Layer 2 solutions. Fuel defines a "modular execution layer" as: a verifiable computing system designed for a modular blockchain stack.


Fuel's technology stack has three core pillars: Parallel transactional execution, that is, more computation and state access; FuelVM; developer experience. To optimize the development experience, Fuel Labs has developed a specific smart contract language Sway for FuelVM. Sway is based on Rust and includes the syntax to utilize the blockchain VM without unnecessary verbose templates.


Omni

Reason for attention: A new generation of Web3 wallet/NFT asset aggregator.


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BlockBeats news, on September 7, Web3 wallet Omni (formerly Steakwallet) announced that it completed an equity financing of US$11 million at a valuation of US$50 million in May this year. Spartan Group, GSR Ventures, Eden Block, OP Crypto, Shima Capital, Kosmos Ventures, Daedalus Angels, PrimeBlock Ventures, Figment Capital, Lattice Capital, and Chorus One also participated.


As a next-generation Web3 wallet, Omni allows users to manage cross-chain assets in one App. Currently, Omni supports more than 25 blockchains And Roll-up, including EVM compatible chains and non-EVM compatible chains. Omni will also allow users to manage NFT assets on multiple chains, and can set NFT as a wallet background. Omni's partners are just as strong, including Yearn Finance, Unstoppable Domains, Fantom, and more.


Omni's co-creator and chief technology officer said Alex Modon said that Omni is seeking to cooperate with WalletConnect to extend Omni to Ethernet Outside of Square, and into ecology such as Solana, Cosmos and NEAR, in order to realize the true multi-chain vision.


Slide


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Reason for attention: Targeting the application market, led by Polychain Capital and Framework Ventures.



BlockBeats news, on September 8, DApps service provider Slide completed a $12.3 million seed round of financing, co-led by Polychain Capital and Framework Ventures . The financing will be used to continue to expand the Slide team and provide high-quality solutions for DApps.


Slide is headquartered in New York, led by former Coinbase product leader Farman-Farmaian and former quiz platform Polymarket Co-founded by developer Sam Hatem. It provides a payment tool that enables users to purchase encrypted assets such as NFT with a credit card. According to information on its official website, users do not need to create encrypted wallets or pay blockchain gas fees during the process of purchasing encrypted assets, realizing seamless integration from Web2 to Web3, and users do not need to master encryption knowledge to communicate with Web3 DApps Deep interaction.


Framework Ventures says it expects billions of people to transact on-chain in the next decade , UX (user experience) infrastructure projects like Slide will play a key role in this migration.


Spice AI


Reason for attention: Designed for App and ML. At the time when many venture capital institutions withdrew their investment, a relatively large amount of seed round financing was completed.




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BlockBeats news, on September 7th, Web3 data warehouse infrastructure provider Spice AI announced the completion of a $13.5 million seed round of financing, led by Madrona, Blackbird Ventures, Basis Set Ventures and Founders' Co-op, and the former GitHub CEO Nat Friedman, current GitHub CEO Thomas Dohmke, and Microsoft Azure CTO Mark Russinovich also participated.


SpiceAI Alliance Luke Kim and Phillip LeBlanc have worked together to develop Azure at Microsoft, including Dapr and Azure Active Directory. Luke Kim is also one of the joint founders of the Azure incubation team.


Spice AI is a Web3 data and AI infrastructure platform, designed for application App and machine learning ML.Developers can easily and efficiently access massive Web3 data through Spice AI, and extract real Meaningful data. Spice AI is able to index data on major blockchains such as Bitcoin, Ethereum and Solana, then store and distribute this data on the platform and allow customers to access it.


Spice AI was born for applications and machine learning, and considers Dune, the current mainstream Web3 data analysis tool Analytics and The Graph, along with infrastructure providers Alchemy and Infura, won't solve this pain point. SpiceAI is building the future of AI-driven apps, and its platform will be open source Spice.ai decision engine combined with "ML-ready" data enables developers to build the next generation of intelligent applications.


Digital asset management/payment


A total of 9 financings in the field of digital asset management/payment, with a total amount of more than 247 million US dollars, accounting for 23.81% of the total financing last week.


Bitwarden


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BlockBeats message, 9 month 6 Bitwarden, an open source password manager for businesses and consumers, announced the completion of a $100 million financing round led by PSG and participated by Battery Ventures. Bitwarden aims to make it easier for people to automatically generate secure passwords and store all their unique passwords and sensitive information in a secure digital vault, avoiding reusing the same insecure passwords. Bitwarden's biggest differentiator is that it's built on an open-source code base, allowing security-conscious individuals and businesses to fully inspect the platform's inner workings.


21.co



BlockBeats message, 9 On June 6, 21.co, the parent company of 21Shares and an encrypted investment product company, announced the completion of a $25 million financing at a valuation of $2 billion. This round of financing was led by Marshall Wace, Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners Wait to vote. With this round of funding, 21.co says it will continue to drive rapid, targeted growth through first-in-class products, key market expansion, and strategic talent acquisitions. 21.co's largest subsidiary, 21Shares, is the world's largest issuer of cryptocurrency exchange exchange products (ETPs), using its proprietary platform, Onyx, to issue and operate crypto ETPs for companies and third parties.


Coop Records



BlockBeats message, september On the 9th, according to Billboard reports, Web3 music fund Coop Records announced the completion of a new round of financing of 10 million US dollars. The founder of the fund, Cooper Turley, did not disclose the information of the investors, but only revealed that several famous Web3 founders and investors participated in the investment. Turley himself is a curator and collector in the Web3 music field, and an angel investor in more than a dozen music NFT platforms such as Royal, Audius and Catalog.


Coop Records will invest directly in startups, artists, and music NFT projects, and build a "community-capable" portfolio that allows companies to share their code, infrastructure and assets, which Turley believes will hopefully unlock a better way to fund musical talent.


VerifyVASP


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BlockBeats message, 9 month 8 On the same day, the encrypted regulatory technology company VerifyVASP announced the completion of a US$5 million Series A financing at a valuation of US$100 million. This round of financing was led by FTX Ventures, with Peak Capital and Bcharu participating. Founded in 2019 and based in Singapore, VerifyVASP offers a members-only closed network that facilitates secure data transfers between members to comply with regulatory rules. According to its website, its members include Bybit, Deribit, Crypto.com, FTX, FTX.US, and Huobi.


Other financing


There were 2 other financings with a total amount of US$79 million, accounting for 7.61% of the total financing last week. Including:


On September 7th, Web3 energy startup Tesseract completed $78 million in financing, Balderton , Lakestar, Accel, Low Carbon, Ribit Capital, Box Group and former Formula One driver Nico Rosberg participated. Founded by former Revolut Chief Revenue Officer Alan Chang, Tesseract is a Web3 startup that tokenizes energy businesses.


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On September 5th, Teamway, a Web3 human resources platform headquartered in Copenhagen, Denmark, announced the completion of 1 million euros (Approximately $990,000) seed round, Invested, well-known Web3 angel investor Jeffrey Haas, and Dreamcraft Ventures, which previously invested in the company, participated. Teamway was founded by Sren Nrgaard and Kristian Kongsted at the end of 2020. They hope to use the potential of Web3 technology to realize flexible, efficient and incentivized remote work, and then change the traditional labor market. The company plans to launch TMW Token this fall, allowing community members to pass Complete remote work tasks to earn rewards.

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