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 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...
WEEKLY RECAP Funding fell 27% from $282 million last week to $206 million this week across 34 deals. Triple-digit funding seems to be the new normal, as there has been a notable uptick in the private market in recent weeks. Despite the overall increase in activity, there has been a lack of CeFi-related projects in recent weeks, with just one deal in each of the last two weeks. Agora was the singular...
WEEKLY RECAP Despite a short week in observance of Good Friday, weekly funding rose 17% from $228 million to $268 million across 31 deals. March funding totaled $960 million (with three days remaining), representing the highest figures since March ’23. Monthly deal count has reached 142 thus far, similarly marking the highest tally since 2022. Gaming companies had a strong week of funding, raising $114 million, being slightly edged out...
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