Web3 & Gaming Attracting Investors’ Interest
Total funding rose from $124 million last week to $247 million this week, with nearly two-thirds represented relatively evenly between Web3 & NFTs and Metaverse & Gaming. 53% of the deals this week were seed rounds, comprising 32% of the total funding. One of the larger deals this week comes from OP3N, a Web3 AI-powered platform described by its CEO as, “a Web3 version of WhatsApp meets Amazon.” OP3N allows influencers to interact with fans via NFT-gated experiences while providing accessible wallet infrastructure for end users. The $28 million Series A deal was led by Animoca Brands and included investment from other notable names such as Dragonfly Capital and Galaxy Digital.
Two token sales were completed this week (one private and one public) by Radix and Aavegotchi. Radix completed the private sale, raising $10 million solely from one of its previous investors, DWF Labs. The new fundraising round values the layer-1 network at $400 million. The public token sale comes from Aavegotchi, a popular metaverse game, raising $30 million without participation from venture capital or private investment firms.
Deal of the Week
This week's Deal of the Week is CCP Games, which raised $40M in a seed round led by a16z with participation from Makers Fu...Reports you may have missed
WEEKLY RECAP Weekly funding fell from $152 million to $125 million across 23 deals compared to last week’s 31. The largest deal of the week was a $47 million strategic round completed by Securitize, notably led by BlackRock and making CeFi the leading fundraising category this week. As one of the largest asset managers in the world, the investment carries significant weight in legitimizing the tokenization sector. BlackRock used Securitize...
WEEKLY RECAP Crypto funding was relatively unchanged week-over-week, with a 4% decrease to $138 million, while deal count saw a larger decrease, falling 29% to 25 deals. Infrastructure deals comprised 73% of total funding and Web3 and Gaming combined for 26%, with remaining categories making up the last 1%. As highlighted in our Q1 Funding Report, Series A funding has been a standout deal stage this year, and this week...
WEEKLY RECAP Crypto funding rose 92% from $213 million to $410 million, one of the highest weekly totals in months. The majority of funding came from two deals: Monad’s $225 million round (DotW) and Auradine’s $80 million Series B round, the first mining deal of 2024. Auradine’s Teraflux family of Bitcoin ASIC miners has set new performance and energy efficiency benchmarks and has shown robust field performance, which has helped...
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