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In mid-June (06/19~06/23), an overview of Web3 financing projects

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In the past week, we have witnessed a series of financing activities spanning various domains such as Web3, DeFi, gaming, NFTs, AI, and data science.

Project Type

Comprehensive Project:

  1. This week, seven cryptocurrency startups raised over $46 million, including a Web3 payment platform and interoperability protocol.
  2. The IoTeX Foundation has funded nearly a million dollars to 15 Web3 projects in the past year.
  3. BitValue Capital has established the Web3 startup incubator 223 Booster in Hong Kong to promote the development of Web3 technology in the region.
  4. Web3 credit protocol Getaverse received an investment from the cryptocurrency exchange Hotcoin, and they will continue to develop credit risk management systems and AI components.
  5. Ripple has made a strategic investment in the early-stage venture capital fund Blockchain Founders Fund, focusing on top global Web3 startups.
  6. Blockchain company Metatime has secured a $25 million investment and plans to list its ecosystem token MTC on global exchanges.

DeFi projects:

  1. Portal Gate, a DeFi infrastructure provider, has successfully raised $1.1 million in seed funding and is set to launch a privacy pool on the mainnet.
  2. Maverick Protocol, a DeFi infrastructure project, has secured $9 million in funding with the aim of addressing cross-chain liquidity issues.
  3. Earn Network, a DeFi infrastructure platform, has received $2.7 million in seed funding led by Shima Capital.

GameFi and NFT projects:

  1. Web3.0 game accelerator DGV has received investment from Hashed.
  2. NFT platform Open Foodie has secured $500,000 in seed funding to reshape food technology.
  3. UK mobile fashion styling game company Drest has raised £15 million in financing and plans to launch a metaverse version.
  4. Web3 chess game Anichess has raised $1.5 million in seed round funding and plans to release a playable Alpha test version in the first quarter of 2024.
  5. Web3 game DAO Game7 has announced the first batch of recipients for its Web3 game technology open-source project grants.
  6. Blockchain game platform XPLA has received investment from Big Brain Holdings, Play Ventures, and IVC, with a focus on Play to Own gaming experience.

AI and Data Science Projects:

  1. Web3 credit protocol Getaverse will continue developing credit risk management systems and AI components.
  2. The first AI-driven cryptocurrency search engine, Kaito, has successfully completed a Series A financing round of $5.5 million.
  3. Amazon has launched a $100 million fund to support generative AI startups, called the AWS Generative AI Innovation Center.
  4. AI video editing application Captions has secured $25 million investment in Series B financing, with a valuation of $250 million.

Cryptocurrencies and trading platforms:

  1. Digital asset broker INX has secured a $5.25 million investment from digital commercial bank Republic to jointly expand cryptocurrency trading capabilities.
  2. Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has led a $10 million investment to support the development of cross-chain smart contract platform Neutron.
  3. Liquidity provider Wintermute Ventures has made an undisclosed investment in decentralized exchange Vertex Protocol, which facilitates digital asset spot and derivative trading, in order to provide liquidity.

Other projects:

  1. The beehive creator tool ecosystem raised $12.5 million in Series A funding, led by Lightspeed Venture Partners.
  2. Dtcpay announced $16.5 million in Pre-A round funding, with Kwee Liong Tek as the lead investor.
  3. Startup Radius secured $1.7 million in funding to develop zero-knowledge solutions for decentralized sorting issues.
  4. Nordic company Northstake received €2.8 million in funding, focusing on providing a cryptocurrency staking platform for institutional investors.
  5. a16z launched a new fund, offering wealth management services like portfolio management to expand its business amidst a slowdown in traditional venture capital.
  6. OKX Ventures strategically invested in the Ethereum MEV solution, Shutter Network, enabling users to send opaque encrypted transactions to address malicious MEV.
  7. Blockchain launchpad HotPad raised a subscription amount of 375.508 ETH (536.44%) in its public round IDO, and the HTD token will be listed at 9 PM Beijing time on June 23rd.

Highlights

Firstly, investment activities in the Web3 and blockchain sectors are highly active, with seven related startup companies raising over $46 million in funding within a week. This demonstrates investors' strong interest and confidence in this field. Secondly, projects in the DeFi sector have also received significant investments. For instance, Portal Gate and Maverick Protocol secured $1.1 million and $9 million in financing, respectively, indicating market demand for DeFi infrastructure. Additionally, the gaming and NFT sectors are attracting investments. Examples include DGV, a Web3.0 gaming accelerator, receiving investment from Hashed, and the NFT platform Open Foodie securing $500,000 in seed funding. In the fields of AI and data science, funding activities by Getaverse and Kaito showcase the potential of AI technology in the blockchain space. Lastly, cryptocurrency trading platforms have also garnered substantial investments. INX, a digital asset brokerage, received $5.25 million in investment, while Binance's venture capital and incubation division led a $10 million investment to support the development of the cross-chain smart contract platform Neutron. These funding activities highlight the expanding global influence of cryptocurrency and blockchain technology, with more companies and investors paying attention to and investing in these domains.

Conclusion

In summary, these funding activities demonstrate investors' strong interest in the fields of Web3, DeFi, gaming, NFTs, AI, and data science. They indicate the potential for further innovation and development in these areas. Moreover, they reflect the growing global influence of cryptocurrency and blockchain technology, as more companies and investors focus on and invest in these domains. Looking ahead, we expect to witness the emergence of more innovative projects and technologies in these fields, driving the overall industry's progress.

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