According to BlockBeats statistics, the total number of financings last week was 19, which is less than before, with a total amount of approximately US$230.24 million and an average financing amount of US$12.1179 million. Among them, the infrastructure field occupies the majority, the digital asset management/payment field and the metaverse/GameFi field are relatively more, the Web3.0+AI field and the NFT/digital fashion field are more, the social/creator economy field and the DeFi field are less, and there is no financing in other fields. The following figure shows the proportion of financing in each sector last week:

Metaverse/GameFi

A total of 4 financings were raised in the Metaverse/GameFi field, with a total amount of US$37 million, accounting for 16.07% of the total financing last week.

Sandbox

On June 6, VentureBeat reported that the user-generated content metaverse platform Sandbox has raised $20 million in convertible debt financing, with a valuation of $1 billion. This round of financing was led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures.

The Sandbox is a virtual metaverse where players can experience, build, own assets, and earn income from them. Before becoming a blockchain-based game, The Sandbox was a traditional game launched in 2012.

Noteholders can convert them into equity in Bacasable Global Limited under the same terms as existing preferred shares. It is reported that the new funds will be used to continue to advance The Sandbox's vision of creating a decentralized virtual world where culture and games merge and the community can actively participate in and benefit from the development of the entire ecosystem.

NDUS Interactive

On June 6, NDUS Interactive, the developer of Sui's ecological chain game Xociety, announced the completion of a $7.5 million Series A financing round led by Hashed and Sui Foundation, with participation from Spartan, Neoclassic, Big Brain Holdings and PUBG game publisher Krafton.

Xociety is a AAA shooter game that will be launched on Sui before the end of the year in partnership with Mysten Labs as part of a major push for AAA Web3 mainstream games.

NDUS Interactive is developing Xociety, combining RPG mechanics with a new reward system that emphasizes player engagement and skill. The game introduces an in-game company system that allows players to own shares in the game world and manage their own companies and economic entities.

Hypersonic Laboratories

On June 4, Hypersonic Laboratories, the company behind the metaverse platform HELIX, announced the completion of a $7 million Series A financing round, led by Play Ventures, with participation from AppWorks, WTIC, KB Investment and Alex Ekvall.

HELIX Metaverse is the full name of Hyper Expansive Lifelike Interoperable eXperience, and HELIX will be launched in a closed alpha version later this year. HELIX was originally launched as a web3 platform with an NFT market, but the team recently switched to web2 and removed any blockchain and NFT.

The new funds will be used for further development of Helix, which is expected to launch a closed alpha test version later this year, aiming to facilitate the creation of role-playing game mods and servers.

Other financings in the Metaverse/GameFi space include:

On June 3, Web3 gaming platform NexGami announced the completion of a $2.5 million seed round led by Metalpha, with participation from KuCoin Ventures, HTX Ventures, Gate Labs, Ledger Capital, Tide Group, OIG, XT.com, Lbank, Kekkai, IBC Group and several well-known investors.

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NFT/Digital Fashion

A total of 1 financing in the NFT/digital fashion field, with a total amount of over US$3.3 million, accounting for 1.43% of the total financing last week.

Stashh Labs

On June 4, NFT platform Stashh Labs completed US$3.3 million in financing, with investors such as Animoca, 6th Man Ventures and Shima Capital participating in this round.

As part of its mission, Stashh Labs launched Stashh 2.0 on Tuesday, the second iteration of its NFT full-chain center focused on SoFi. Stashh said the new market supports encrypted NFTs and provides many new use cases for creators and collectors. These include unlockable on-chain private content, access control, identity management, and unlockable collectibles.

Stashh Labs will use the funds to further its mission, expand support for more blockchain ecosystems, attract more creators, and launch more messaging, games, and other social features on its platform.

DeFi

A total of 1 financing in the DeFi field, the total amount was not disclosed.

Glypher

On June 4, the full-chain inscription Alpha data + trading platform Glypher announced the completion of a million-dollar Seed Round round of financing. Investors include SEZ Labs, Mask, Imtoken, Hash Global, Newtribe Capital, etc. This financing will be used to drive the next stage of growth and development of Glypher.

Glypher is the industry's first multi-chain asset trading + cross-chain platform that links BTC and EVM ecosystems. The platform is incubated by NFTGo and officially endorsed by Polygon. It has reached strategic partnerships with well-known projects in the industry such as Merlin, Bitlayer, Nervos, Trust wallet, and Safepal.

Glypher will establish a business model for long-term cooperation between the platform and community projects around its first inscription asset ZEROI. The first phase of ZEROI has increased by more than 1200%, and the second phase will be released soon. Inscription holders will also receive a variety of airdrop benefits including GZERO token airdrops.

Social/Creator Economy

A total of 1 financing was raised in the social/creator economy field, with a total amount of more than 3 million US dollars, accounting for 1.3% of the total financing last week.

Halo

On June 8, according to official news, Web3 social application Halo announced the completion of a $3 million seed round of financing, with participation from IDG Capital, HashKey Capital, Kucoin Ventures, Cyberport, and other Web3 angel investors.

It is reported that Halo is committed to building a monetization layer in the field of SocialFi and creating a new paradigm for the fair distribution of personal social influence value. In April, Halo Genesis Pass was upgraded to Halo Member Pass (HMP). HMP not only accelerated the monetization of social interactions, but also provided new HMP minters with excellent returns of up to 50%.

In the future, Halo will launch its influencer badge and plans to integrate with Farcaster, enabling users to connect with Farcaster directly on Halo. Halo will conduct a public sale and TGE this year. As a community-driven SocialFi platform, Halo will distribute the largest share of 30% to community members through social farming.

Infrastructure

A total of 8 financings in the infrastructure field, with a total amount of over US$121.5 million, accounting for 52.77% of the total financing last week.

GoPlus

On June 5, Web3 user security network GoPlus completed a US$10 million third round of financing to create a Web3 modular user security layer. This round of financing was participated by well-known fund institutions and investors such as OKX Ventures, HashKey Capital, Web3Port, Fenbushi, Redpoint China, Quantstamp, Animoca Brands, Undefined Labs, 7UpDAO, Ash Crypto and Richard Ma. This is another milestone after the private placement II and private placement II+ rounds led by Binance Labs and Red Point in 2023, with a total financing amount of US$25 million.

GoPlus has become the world's largest Web3 security ecological network and security data platform, with a real-time, dynamic and automatic security detection engine based on advanced artificial intelligence technology. Among them, the Token security detection API is integrated with Web3 head dApps such as CoinMarketCap, CoinGecko, DEXTools, DEXScreener, SushiSwap, MetaMask Snaps, Opera, etc., with a daily call volume of up to 21 million times; at the same time, GoPlus launched a personal security service platform SecWareX, which attracted 9 million registered wallet addresses and 1.8 million independent IP users in just two months after its launch.

On this basis, GoPlus is creating an open, permissionless, user-driven Web3 modular user security layer that can be seamlessly integrated with any public chain, improve the modular blockchain architecture, and combine SecNet (Secure RPC) and SecHub (On-chain Personal Security Center) to provide complete and powerful protection for the entire life cycle of user transactions.

Mountain Protocol

On June 6, Mountain Protocol, an issuer of yield-based stablecoins, announced the completion of an $8 million Series A financing round led by Multicoin Capital, with participation from Castle Island Ventures, Coinbase Ventures and other investors. With this round of financing, Mountain Protocol has raised $12 million. The company raised $4 million in a seed round last September.

Mountain Protocol is the issuer of USDM, a yield-based stablecoin that is "fully backed by U.S. Treasuries." Mountain said it is regulated by the Bermuda Monetary Authority and holds USDM reserves in a bankruptcy segregated account, separate from the company's operating accounts. USDM is a redenominated ERC-20 token that is backed one-to-one with the U.S. dollar and currently offers a yield of about 5%.

Mountain plans to increase the issuance of USDM by expanding support for new blockchains such as Solana, Aptos, Sei, and Monad and integrating it into more DeFi protocols. It also plans to work with fintech companies, cryptocurrency exchanges, and market makers to increase the supply of the stablecoin.

Nubit

On June 5, according to official news, the modular blockchain project Nubit completed a seed round of financing of US$8 million. This round of financing was led by Polychain Capital, and other institutional investors included Nomad Capital, Spartan Group, L2IV, Big Brain Holdings, GCR, Protagonist, Gate Ventures, Animoca and Mask Network. Nubit's total financing has reached US$12 million.

Nubit is a modular blockchain solution provider that is committed to improving the scalability of blockchain and providing a secure and scalable data availability solution for the Bitcoin ecosystem. Nubit's data availability layer has been deeply integrated with projects such as Babylon, BounceBit, Unisat and Merlin Chain. In addition, it is also committed to developing programmable, modular, and trustless execution layers for meta-protocols such as BRC-20 and Runes. It has recently expanded support for all major Layer 2 frameworks, including Polygon CDK, OP Stack, Arbitrum Orbit and Scroll.

In April 2024, Nubit launched the Pre-Alpha testnet, which attracted more than 150,000 users, deployed 5,294 modular services, and processed more than 560,000 transactions. The team will launch the Alpha testnet in June, and the mainnet is expected to go live later this year.

The rest of the infrastructure financing includes:

On June 4, the modular blockchain project Avail completed a $43 million Series A financing, with Dragonfly Capital, Founders Fund, Cyber Fund, SevenX Ventures, Hashkey, Elixir Capital, Spark Digital Capital and some angel investors participating. Avail will launch the mainnet in the next few weeks. Avail said the Series A funding will accelerate its efforts to address scalable data availability, interoperability, and Rollup fragmentation through the Unification Layer, a modular technology stack that combines data availability, aggregation, and shared security.

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On June 4, the decentralized energy network Starpower has completed a $2 million Pre-Seed round of financing, with investors including Alliance, Arweave, IoTeX, Bas1s Ventures and angel investors. It is reported that Starpower uses the DePIN model to link energy and power equipment including air conditioners, batteries, electric vehicles, etc. to establish a dispatchable energy management network to improve power efficiency and reduce grid fluctuations, accelerate global energy transformation, and now has 50,000 APP and hardware users.

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On June 5, Ethereum Layer 2 Fhenix announced the completion of a $15 million Series A financing round, led by Hack VC, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures and Stake Capital. Fhenix announced the launch of its open test network, called Helium (originally planned to be named Renaissance), which allows developers to deploy "confidential" smart contracts on the Fhenix Layer 2 network.

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On June 5, the stablecoin protocol M^0 completed a $35 million Series A financing round led by Bain Capital. M^0 previously raised $22.5 million in a seed round led by Pantera Capital in early 2023. The Series A financing and launch phase were also supported by companies such as Galaxy Ventures, Wintermute Ventures and GSR.

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On June 7, Layer 1 blockchain platform Datalayer announced the completion of a $500,000 Pre-Seed round of financing, led by GBV Capital and NxGen, with participation from X21 Digital, CSP DAO, Connectico, etc. Datalayer is a new Layer 1 blockchain and smart contract protocol that introduces local chains (lightweight, user-owned parallel chains) to provide users with dedicated block space.

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Digital Asset Management/Payment

A total of 1 financing in the field of digital asset management/payment, with a total amount of more than US$50 million, accounting for 21.72% of the total financing last week.

Nium

On June 5, according to CNBC, fintech startup Nium said it had completed US$50 million in new financing and planned to IPO within the next 18 months. The round was led by an undisclosed Southeast Asian sovereign wealth fund, with support from venture capital firms BOND, NewView Capital and Tribe Capital. It values the company at $1.4 billion, a 30% discount to its previous valuation.

This year, Nium appointed former Bank of America executive Alexandra Johnson as chief payments officer, responsible for overseeing the global banking and payments operations team; former PayPal executive Rissy Ruddy as chief human resources officer, leading all people functions; and former Revolut executive Anton Pasiechnikov as vice president of finance.

Recently won customers include Weel, the Australian expense management leader, and Emirates NBD, one of the leading banks in the UAE. The latest roadmap shows that Nium provides features and financial services that serve mission-critical customer use cases in industries such as travel, payroll, and expense management.

Web3+AI

A total of 3 financings in the Web3+AI field, with a total amount of more than US$15.44 million, accounting for 6.71% of the total financing last week. Including:

On June 5, MarketingFi and AI data layer Cookie3 announced the completion of US$5.5 million in financing, including US$3.3 million in seed and strategic rounds. Investors in the seed round of COOKIE tokens include The Spartan Group, Baboon VC, GSR, Hartmann Capital, and Poolside. Its $2.5 million strategic financing was led by Animoca Brands, and other strategic investors include Mapleblock Capital, Castrum Capital, Founderheads, Unreal Capital, Undefined Capital and Kangaroo Capital.

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On June 6, Glacier Network, the first data-centric AI-enhanced blockchain project, announced that it had completed $8 million in financing in the angel and seed rounds at a valuation of $100 million, with participation from ForesightX, UOB Venture Management, Laser Digital, Contribution Capital and Aza ventures. In addition, the project has also received funding from PermaDAO, ForesightX Accelerator Cohort and Aptos Grant Dao in the Arweave ecosystem. It is reported that Glacier Network is building a programmable, modular and scalable blockchain infrastructure for storing, indexing and querying data to enhance AI on a large scale. Glacier enables verifiable computing through GlacierAI, GlacierDB, and GlacierDA.

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On June 6, SmartLoC, a B2B payment solution based on blockchain and AI, announced the completion of 1.8 million euros in financing, led by High-Tech Gründerfonds (HTGF), with participation from Loggerhead Ventures, MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH and several angel investors. SmartLoC focuses on using technologies such as the Internet of Things, blockchain and artificial intelligence to optimize the way companies conduct financial transactions globally, and the new funds will accelerate its go-to-market strategy.

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