Investors bet big on exchanges and GameFi
Key Takeaways
- Investors bet big on crypto exchanges, allocating almost $345 million to deals this week
- Deal of the Week: Sky Mavis, creator of Axie Infinity raised $152 million at $3 billion valuation
- Active investors this week include Paradigm, MultiCoin, Digital Galaxy and Accel
Venture Capital Deals
BitOasis is one of the oldest crypto exchanges in the Middle East and North African (“MENA”) region. BitOasis, received regulatory approvals from the Abu Dhabi Global Market earlier this year. The Dubai-based crypto exchange closed a $30 million Series B funding round. The investment was co-led by Jump Capital and Wamda. New investors in the Series B include Alameda Research and existing stakeholders include Digital Currency Group, NXMH and Pantera Capital. According to World Bank data, the total population in the MENA region was 465 million habitants in 2020. Crypto trading services in the region could provide a lot of new income opportunities. (UAE crypto exchange BitOasis raises $30 million to expand in MENA).
Reports you may have missed
WEEKLY RECAP In the final week of Q2, crypto funding bounced back, rising 64% from $78 million to $128 million, while deal count rose modestly from 18 to 20. The funding total was dominated by Infrastructure, which comprised 88% of the total and also made up 55% of the total deal count. CeFi broke its streak of two weeks with no deal flow with a singular Series A round completed...
WEEKLY RECAP Private funding was suppressed as we enter the summer season, with total funding dropping 43% week-over-week to $66 million and deal count decreasing 52% to 15 deals. Infrastructure still took the top spot from a funding perspective, totaling $31 million across three deals, including Sonic, our Deal of the Week. DeFi tallied the most deals (6) and had the second most funding across categories ($24m). CeFi had its...
WEEKLY RECAP This week’s $113 million in funding was less than half of last week’s $242 million, although the deal count showed a more modest 17% drop to 30 deals. Infrastructure continues to be the most popular investment category. Infrastructure’s $66 million in funding was stapled by Nexus Labs and Nuffle Labs’ $25 million and $13 million respective investment rounds. After tallying a few deals in the previous two weeks,...
WEEKLY RECAP Weekly funding fell by almost 50% to $182 million, while the deal count fell by about a third to 23. The Infrastructure category led both funding and deal count, bolstered by Avail’s $47 million Series A round. CeFi saw $26 million in funding, including XREX’s $18.75 million strategic round with Tether. XREX will use the funding to help facilitate regulatory-compliant cross-border payments using USDT. Gaming had the second...
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