Less Mining, More NFTs

Apr 29, 2022 • 5 Min Read

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).

Additionally, three new funds launched this week with a combined $1.375 billion, with Dragonfly Capital’s third crypto fund raising $650 million to bring the company’s total AUM to over $3 billion. Mining was still active, though not nearly as much as last week. CleanSpark and Blockmetrix raised $55 million in debt financing to acquire more mining rigs in the renewed mining arms race that has done nothing but pick up speed since the start of the year.

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Deal of The Week

0x Labs($ZRX) is the development team for the 0x protocol, a decentralized exchange (DEX) infrastructure tool that enables exchanging digital assets across multiple blockchains, including Ethereum, Polygon, Fantom, Avalanche, among others. The team raised $70 million in a Series B led by Greylock Partners with other participants, including OpenSea, Pantera Capital, and Jump Crypto, among many others.

Why Is This a Big Deal?

0x Labs has been actively buil...

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