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...Unlock this article by joining our Community!
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