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 As expected, funding totals during the holidays were comparatively low. Both total funding and deal count fell by approximately 70%. There were 11 deals this week totaling $45 million in funding. All disclosed funding amounts fell into the Infrastructure and DeFi categories, while Web3 tallied two deals for undisclosed amounts. Infrastructure-led deal counts among categories (7), and there were no CeFi or Gaming deals to end the year....
WEEKLY RECAP Crypto funding saw a large jump week-over-week, increasing 83% from $231 million to $424 million, and total deal count rose by 21% from 28 to 34. The large funding total was helped by a $250 million token sale completed by Avalanche ahead of its Avalanche9000 upgrade. Infrastructure dominated amongst categories, totaling $354 million across 21 deals, making up 84% of funding and 62% of total deal count. The...
WEEKLY RECAP Crypto funding rose 60% week-over-week from $145 million to $232 million, while total deal count decreased 7% from 29 to 27. CeFi was the leading funding category, totaling $145 million across three deals and comprising 63% of all funding. The total was bolstered by Public’s $130 Series D round, representing only the second Series D round in 2024. Although CeFi has been a laggard category all year, three...
WEEKLY RECAP Despite liquid crypto prices rising, private market funding remains lackluster thus far in Q4. Aggregate funding fell 29% week-over-week, decreasing from $155 million to $109 million, while deal count fell by over 31% from 22 to 15. Infrastructure was the leading category from both a financing and deal count perspective and included our Deal of the Week, Noble. The largest deal was Monkey Tilt, which raised $30 million...
