Metaverse Funding and Acquisitions Takeoff

Key Takeaways

• Metaverse projects raised an aggregate $287 million in capital this week, payments and investment platforms raised $153 million, new venture capital funds created brought in $240 million and M&A activity reached $970 million this week.
  
• Deal of the Week: Digital Currency Group sells shares worth $700 million to Softbank and Alphabet among other investors at $10 billion valuation
  
• Active investors this week include SoftBank, Alameda Research, AU21 and Animoca Brands

Venture Capital Deals

Ardana is a decentralized exchange stable asset liquidity pool and on-chain asset backed stablecoin protocol built on Cardano ($ADA). The platform will allow users to send, receive, store, borrow and lend the stablecoin ($dUSD). Ardana has raised $10 million from various investors such as Three Arrows Capital, Cardano’s cFund Ascensive Assets, Morningstar Ventures, Kronos, Mechanism Capital, as well as other investors. Since the Alonzo Fork, Cardano has seen an increase in developer activity on the ecosystem. (Cardano Stablecoin Protocol Ardana Toasts $10M Capital Injection Led by Three Arrows Capital and Ascensive Assets).