New Year, Same Themes (DeFi and NFTs)
Key Takeaways
- Venture capital funds kicked off 2022 with $359 million invested in NFT projects that are focused on continuing to grow the NFT ecosystem through creator and project incubation. DeFi investment was also highly active, raising $396 million this week, mostly for expanding existing protocols’ product and service offerings. Web3.0 infrastructure projects raised $30 million, $6 million went to gaming, and Bitfarms is keeping its foot on the gas with a $100 million Bitcoin mining expansion roadmap.
- Active investors this week include Animoca Brands, CoinFund, DCG, and a16z.
- Deal of the Week: OpenSea raised $300 million at a $13.3 billion valuation as it continues to develop its platform infrastructure, add more products for its users, and invest in the growth of the NFT space.
Venture Capital Deals
Sygnum is a Swiss digital assets bank offering services like spot and options trading, custody, and crypto-backed fiat loans, among other traditional financing services for crypto. The bank raised $90 million in a Series B funding round that values the bank at $800 million. The round was led by Sun Hung Kai & Co. with other investors including Animoca Brands, SBI Holdings, and SCB 10X, among others. Sygnum is using the capital to add new DeFi products a...Reports you may have missed
WEEKLY RECAP Weekly funding fell by 34% from $126 million to $83 million, while deal count rose approximately 22% from 18 to 22. Infrastructure was the leading category, totaling $51 million across nine deals and comprising 61% of total funding. CeFi logged its second consecutive week of two deals, including Caliza’s $8.5 million investment round supporting its mission to provide cross-border remittances leveraging stablecoins. Web3 and Gaming deal flow has...
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...
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