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Crypto Funding Fridays

Crypto Funding Fridays

This week, venture capital apparently didn’t read any of the crypto news, nearly doubling last week’s fundraising total when the market dropped 25% over the previous seven days. There was a solid distribution across sectors in a week that saw $1.1 billion raised across 43...

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Apes Crashing Ethereum to Raise Money

In another busy week of capital raising, the switch flipped from NFTs to Metaverse and Gaming projects, though most of the funding came from Yuga Lab’s public virtual land sale. Metaverse/Gaming projects raised $403 million, over two thirds of the total pot this week. The rest of the funds were...

Less Mining, More NFTs

This week, twenty-six crypto companies raised money through venture capital firms, totaling $622 million. NFT projects received over half of the pool at $319 million. In a relatively slow week for Infrastructure startups, they raised $125 million, followed by DeFi ($113 million), CeFi ($34 million), and lastly, Web3 ($33 million)....

Investors Love Sustainable Mining

This week twenty-seven crypto companies raised capital totaling $1.46 billion, more than half of which went to two miners, Crusoe Energy Systems and Bit Digital. Web3 came in second, bringing in over $226 million, followed by CeFi ($137 million), NFTs ($129 million), Infrastructure ($92 million), and DeFi ($20 million). Additionally,...

Into the Metaverse (But Not Adidas’)

VENTURE CAPITAL DEALS Swoops is an NFT-based fantasy basketball game where each basketball player is minted as an NFT that can be purchased, traded, staked, etc. The startup raised $3.5 million in a Series A led by Courtside Ventures and Alpaca VC. Other participants in the round included Slow Ventures,...

Doubling Down on Metaverse and Infrastructure

Venture capital is in its second straight week of infrastructure and NFT/metaverse funding in a week that saw $932 million in capital being invested in startups. As is typical, infrastructure projects continued to draw the most attention, with eight funding rounds raising $530 million. NFT/metaverse continued its revival trajectory to...

VCs Target Infrastructure with a Hint of DeFi

VENTURE CAPITAL DEALS zkLend is an Ethereum-based crypto money market similar to Aave and Compound, but will use zero-knowledge rollups to allow users to borrow and lend liquidity without broadcasting identifying information to the Ethereum chain. The project raised $5 million in a seed round led by Delphi Digital with...

One for the Record Books

VENTURE CAPITAL DEALS Yuga Labs is an NFT/metaverse developer most widely known for creating the Bored Ape Yacht Club NFT collection, the largest NFT collection by market cap at over 1 million ETH (~$3 billion at the time of writing). Yuga raised $450 million in a funding round that valued...

All-In On Infrastructure

VENTURE CAPITAL DEALS Hexa Wallet is a self-custody Bitcoin wallet that gives users the ability to control their own private keys without being a simple non-custodial wallet that isn’t as private as a custodial one. The fintech startup raised $1 million in pre-seed investments from Fulgur Ventures and Brad Mills...

NFT/Metaverse Resurgence and Funding Funds

VENTURE CAPITAL DEALS Espresso Systems is a new layer 1 blockchain protocol that uses Proof-of-Stake consensus with zero-knowledge rollups in order to maintain user privacy while also improving transaction speed and costs. The project raised $32 million in a seed round led by Greylock Partners and Electric Capital, with Sequoia...

Government-Run Venture Capital

Venture capital investors took a breather heading into March after investing around $4 billion in the previous three weeks. CeFi projects continue to get a substantial portion of investments, raising $123 million this week. A DeFi project received $70 million in funding, and NFT/Metaverse investments totaled $52 million. Infrastructure was...