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...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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