- MetaStreet and Analog were the leaders in terms of the amount of funding received.
- The funds’ attention was focused on the DeFi and blockchain infrastructure development sectors.
- 3 projects did not disclose the amount of investment.
The period from February 10 to 17, 18 projects attracted investments totaling $133.2 million.
In particular, during the week the following projects received funding:
$25 mln – MetaStreet. The project raised funds and announced the launch of a game called ASCEND. The team stated that the new game “will open the largest untapped source of profitability in cryptocurrency – NFT”. The funding round was participated in by gmoney and 5 other private investors, The funds are planned to be used to develop a product that will create capital markets for illiquid assets.
$16 million – Analog. The blockchain interoperability-focused startup has completed an investment round, after which its valuation rose to $120 million. The funding round was led by Tribe Capital with participation from NEAR Protocol, Wintermute, Orange DAO, Quantstamp, NGC Ventures and private investors. The team plans to use the capital to expand its staff and improve its product. Analog’s core network is scheduled to launch in the second quarter of 2024.
$15 million – Lava Network. The modular blockchain developers announced the closing of a seed round led by three investors, HashKey Capital, Tribe Capital and Jump Capital. Funds and projects such as Alliance DAO, Celestia, StarkWare Corporation, Dispersion Capital, Finality Capital and North Island Ventures also participated in the funding. The raised capital will be used for further development of the startup. The team plans to introduce a modular approach to oracles, sequencing, and other blockchain data infrastructure.
$14 million – Ethena Labs. The team, which develops solutions for Ethereum, has completed a strategic funding round that included Dragonfly and Maelstrom, owned by Arthur Hayes. After receiving the new capital, the project’s valuation rose to $300 million.All investments were accompanied by a future equity agreement. The firm plans to use the funds to expand its 12-person team and further develop the project. In addition, this week the startup received investment from Binance Labs.
$12M – Architect. The company has completed a funding round co-led by BlockTower Capital and Tioga Capital with participation from CMT Digital, ParaFi Capital, A Capital, Twelve Below, Coinbase Ventures, SV Angel, Third Kind, SALT Fund and US Digital Trust. The firm aims to provide derivatives trading brokerage services. The raised funds will be used to expand operations in the US, EU regions and Asia Pacific.
$10 million – FORDEFI. Cryptocurrency wallet provider Fordefi announced the closing of an investment round led by Electric Capital with participation from Paxos and Alchemy. Fordefi plans to use the new funds to develop a new wallet-as-a-service product. This allows other counterparties, including exchanges, to integrate the company’s solutions directly into their application.
$10 million – Overworld. The company, which is partnering with blockchain game publisher Xterio, raised the funds in a seed round of funding. The studio is working on developing a game that will run on Xterio’s ecosystem. Investors include Hashed, The Spartan Group, Sanctor Capital, Galaxy Interactive, Hashkey, Big Brain Holdings and Foresight Ventures.
$8 million – Helika. The firm raised the funds in a Series A funding round led by Pantera Capital with participation from Sparkle Ventures, Diagram Ventures, Sfermion and private investors. It is known that the startup will use the funds to accelerate the development of its artificial intelligence-based game management platform.
$7.5 million – Blueprint Finance. The company received the investment in a funding round co-led by Hashed and Tribe with participation from SALT, Hypersphere, Lightshift, Portal Ventures, and Awesome People Ventures. At the same time, the team announced the launch of Concrete Protocol, a credit marketplace that “protects against liquidation while offering revenue to liquidity providers.”
$4 million – Ultiverse. The artificial intelligence-based gaming platform raised funds in a new strategic round led by IDG Capital with participation from Animoca Brands, Morningstar Ventures, Manta Network, Polygon Ventures and DWF Labs. The capital will enable the team to accelerate the development of an AI platform designed to create Web3 games.
$3.5 million – Witness. The startup received the investment as part of a seed round of funding led by Haun Ventures with participation from Coinbase Ventures and private investors. It is known that the funds are being used to develop a verification protocol that will address commission and scalability issues in the crypto space.
$3 million – Exverse. The Web3 game received funding as part of an investment round co-led by Cogitent Ventures, Cointelligence and Moonrock Capital with participation from KuCoin Labs, Epic Games, Seedify and ChainGPT. The new capital will help prepare for the launch of the game and token test network, create additional strategic partnerships and expand marketing efforts in the Asia-Pacific region.
$1.9 million – Watches. The watch trading platform raised the funds in a previous funding round led by Lemniscap with participation from Big Brain Holdings, Builder Capital, Marin Ventures, Darkside Capital and others. The company also plans to issue NFTs for some watches.
$1.8 million – IntentX. A cryptocurrency startup working to create an OTC marketplace for trading cryptocurrencies has announced that it has received investment. The strategic funding round was led by Selini Capital with participation from counterparties such as: Orbs, Mantle Ecofund, Mirana, Kronos Research and Manifold Trading. Going forward, the team aims to create the “most perfect” decentralized exchange and will leverage strategic partnerships, innovative technology and a world-class team to achieve this goal.
$1.5 million – Drosera. A project that creates solutions to identify vulnerabilities and reduce financial costs in Ethereum has completed a round of funding. Investors included Anagram, Arrington Capital, UDHC, Comfy Capital, Bodhi Ventures, Metamatic, BaseDAO, Asymmetric, Zeal Capital, Everstake, 01Node, Marin Ventures, Infinite Capital and NxGen.
A number of other projects have raised funding but have not disclosed the amount of investment.
Hydro Protocol has received funding from Quantstamp, SkyVision Capital, ExNetwork Capital, CSP DAO, PAKA, Taureon Capital, Vessel Capital, BlackDragon, DoraHacks, Injective Protocol and Trinito.
Venture capital organization Binance Labs has announced its first investment in the sixth season of its incubation program. According to the team’s statement, three projects received funding: NFPrompt, Shogun and Ethena Labs. Note, the latter company received another $15 million investment this week, we wrote about it above.
Top 5 funds by the number of investments in the period from February 10 to February 17, according to CryptoRank
Projects from such segments as Web3, blockchain services, blockchain infrastructure, GameFi, DeFi, CeFi, NFT and others attracted funding during the week.
Recall that from February 1 to February 10, 2024, 34 projects attracted investments totaling $131.4 million.
